{"id":586,"date":"2017-10-18T17:29:00","date_gmt":"2017-10-18T09:29:00","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=586"},"modified":"2026-06-09T16:00:42","modified_gmt":"2026-06-09T08:00:42","slug":"%e6%af%8f%e9%80%b1%e7%b2%be%e9%81%b8%e7%b6%93%e6%bf%9f%e5%9c%96%e8%a1%a8-%e8%82%a1%e5%b8%82-%e5%90%84%e7%94%a2%e6%a5%ad%e9%a1%9e%e5%88%a5%e9%81%8e%e5%8e%bb-10-%e5%b9%b4%e7%9a%84%e7%b8%be","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=586","title":{"rendered":"\u6bcf\u9031\u7cbe\u9078\u7d93\u6fdf\u5716\u8868 \u2013 \u80a1\u5e02 \u5404\u7522\u696d\u985e\u5225\u904e\u53bb 10 \u5e74\u7684\u7e3e\u6548\u8868\u73fe"},"content":{"rendered":"\n<p><time datetime=\"2017-10-18T18:14:47+08:00\">2017-10-18<\/time><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u672c\u5468\u5716\u8868\uff1a \u80a1\u5e02 \u7522\u696d\u985e\u5225\u904e\u53bb 10 \u5e74\u7684\u7e3e\u6548\u8868\u73fe<\/h3>\n\n\n\n<p>\u6bcf\u4e00\u9031\u6211\u5011\u5c07\u7cbe\u9078\u4e00\u500b\u6295\u8cc7\u4eba\u6700\u503c\u5f97\u95dc\u6ce8\u7684\u5716\u8868\u8ddf\u5927\u5bb6\u5206\u4eab\uff0c\u4e0a\u9031\u6211\u5011\u4ecb\u7d39\u4e86\u3010<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=563\">PMI\u6307\u6578<\/a>\u3011\uff0c\u800c\u672c\u5468\u6311\u9078\u7684\u5716\u8868\u70ba\u7f8e\u570b \u80a1\u5e02 \u5404\u7522\u696d\u985e\u5225\u904e\u53bb 10 \u5e74\u7684\u7e3e\u6548\u8868\u73fe\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"799\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/QQ-768x799-1.png\" alt=\"\" class=\"wp-image-587\" srcset=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/QQ-768x799-1.png 768w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/QQ-768x799-1-288x300.png 288w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><figcaption class=\"wp-element-caption\">(\u5716\u4e00) \u80a1\u5e02 \u7522\u696d\u985e\u5225\u904e\u53bb 10 \u5e74\u7684\u7e3e\u6548\u8868\u73fe<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u9019\u662f\u4ec0\u9ebc\u5716\u8868?<\/strong><\/li>\n<\/ul>\n\n\n\n<p>(\u5716\u4e00) \u70ba\u7f8e\u570b \u80a1\u5e02 \u4e2d\u4e0d\u540c\u7522\u696d\u985e\u5225\u904e\u53bb 10 \u5e74\u7684\u5831\u916c\u7e3e\u6548\u8868\u73fe\u6392\u540d\u72c0\u6cc1\uff0c\u5f9e\u5716\u4e2d\u53ef\u4ee5\u770b\u5230\u4ee5\u904e\u53bb\u5341\u5e74\u4f86\u8aaa\u79d1\u6280\u985e\u80a1\u7684\u5831\u916c\u7387\u6700\u9ad8\uff0c\u800c\u5831\u916c\u7e3e\u6548\u8868\u73fe\u6700\u5dee\u7684\u70ba\u80fd\u6e90\u80a1\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u73fe\u5728\u7684\u5716\u8868\u4ee3\u8868\u4ec0\u9ebc\u542b\u610f?<\/strong><\/li>\n<\/ul>\n\n\n\n<p>\u5047\u8a2d\u4f60\u73fe\u5728\u60f3\u6295\u8cc7\u65bc \u80a1\u5e02 \u7576\u4e2d\u7684\u67d0\u4e00\u7522\u696d\u80a1\uff0c\u5f9e (\u5716\u4e00) \u4f60\u770b\u5230\u4e86\u904e\u53bb\u5341\u5e74\u4e4b\u9593\u5404\u7522\u696d\u985e\u5225\u7684\u7e3e\u6548\u8868\u73fe\uff0c\u4e26\u767c\u73fe\u79d1\u6280\u985e\u80a1\u7684\u7e3e\u6548\u8868\u73fe\u6700\u597d\uff0c\u800c\u80fd\u6e90\u985e\u80a1\u6700\u5dee\uff0c\u751a\u81f3\u662f\u8ca0\u5831\u916c (\u8ce0\u9322) \u7684\u73fe\u8c61\uff0c\u56e0\u6b64\u8070\u660e\u7684\u4f60\u6703\u9078\u64c7\u54ea\u4e00\u500b\u7522\u696d\u9032\u884c\u6295\u8cc7?<\/p>\n\n\n\n<p>\u76f8\u4fe1\u8a31\u591a\u4eba\u6703\u4e0d\u5047\u601d\u7d22\u5730\u9078\u64c7\u79d1\u6280\u985e\u80a1\u4f86\u9032\u884c\u6295\u8cc7\u5427\uff01\u6216\u8005\u9078\u64c7\u5176\u4ed6\u8868\u73fe\u8f03\u4f73\u7684\u7522\u696d\u4f86\u6295\u8cc7\uff0c\u4f46\u9019\u500b\u6392\u540d\u699c\u771f\u7684\u53ef\u4ee5\u505a\u70ba\u4f60\u9078\u64c7\u6295\u8cc7\u7684\u6839\u64da\u55ce?<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u70ba\u4ec0\u9ebc\u5b83\u5982\u6b64\u91cd\u8981?<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"520\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/QQQ-2-768x520-1.png\" alt=\"\" class=\"wp-image-588\" srcset=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/QQQ-2-768x520-1.png 768w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/QQQ-2-768x520-1-300x203.png 300w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\" \/><figcaption class=\"wp-element-caption\">(\u5716\u4e8c) MSCI\u5168\u7403\u80a1\u5e02\u7522\u696d\u985e\u5225\u904e\u53bb\u5341\u5e74\u7e3e\u6548\u6392\u540d<\/figcaption><\/figure>\n\n\n\n<p>\u524d\u9762\u8aaa\u5230\u7531\u53c3\u8003 (\u5716\u4e00) \u4e2d\u7684\u8cc7\u8a0a\u4f86\u6311\u9078\u6295\u8cc7\u7684\u7522\u696d\u985e\u5225\u7684\u8a71\uff0c\u4f60\u53ef\u80fd\u6703\u9078\u64c7\u770b\u4f3c\u8868\u73fe\u6700\u597d\u7684\u79d1\u6280\u80a1\u4f86\u9032\u884c\u6295\u8cc7\uff0c\u7531 (\u5716\u4e8c) \u5de6\u534a\u90e8\u4e2d\u4ea6\u53ef\u767c\u73fe\u79d1\u6280\u80a1\u7e3e\u6548\u8868\u73fe\u7684\u78ba\u662f\u6bd4\u8f03\u597d\uff0c\u800c\u80fd\u6e90\u80a1\u4e00\u6a23\u8868\u73fe\u662f\u6700\u5dee\u7684\uff0c\u4f46\u5728 (\u5716\u4e8c) \u53f3\u534a\u908a\u4e2d\u53ef\u4ee5\u767c\u73fe\uff0c\u5728\u66f4\u4e4b\u524d\u7684\u5341\u5e74\u4e2d (1997~2007)\uff0c\u5831\u916c\u7e3e\u6548\u6392\u540d\u7adf\u7136\u662f\u985b\u5012\u7684\u60c5\u6cc1\uff0c\u9019\u4ee3\u8868\u4e86\u4ec0\u9ebc\u610f\u601d\u5462?<\/p>\n\n\n\n<p>\u5176\u5be6\u91d1\u878d\u5e02\u5834\u6709\u500b\u5f88\u91cd\u8981\u7684\u7279\u6027\u5c31\u662f \u2014 \u56de\u6b78\u5e73\u5747\u503c (regression toward the 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