瑞银全球量化策略：商品拥挤度整体观点与CFTC投机仓位拥挤度交易策略

报告摘要

瑞银将个股拥挤度概念拓展至商品，从投机头寸集中度、分析师预测一致性和相关性三个维度衡量拥挤度。基于CFTC持仓报告，构建做空拥挤商品的择时策略，结合价值、动量、carry风格，提供量化交易新视角。

📋 核心要点(部分)

1. Crowding captured from three perspectives
2. Timing investment styles with crowding
3. Investment Strategy based on Speculative Crowding