A Comparative Study Of GARP Strategy And Growth Strategy In Shanghai Stock Exchange A-Share Market

China's securities market is greatly affected by policies and the external environment.Stock market volatility often causes investors to generate unexpected losses,which also makes some investors fear the securities market.At this time,the performance is relatively stable and the income is relatively high.The investment strategy can promote the healthy development of China's stock market while enhancing investors' confidence in the stock market.Quantitative investment strategies are characterized by more rationality,risk diversification,and stable performance.Specifically,quantitative investment strategies can make investment behavior more rational,and not rationally,by analyzing and screening large stocks rather than subjecting them to subjective ideas.Investing in a single stock also effectively spreads the risk.At the same time,based on past experience,in the long run,the performance of the quantitative fund can often exceed the market market limit and obtain excess returns.It is worth noting that although the quantitative investment strategy has already developed more maturely in foreign countries,it still belongs to a relatively new investment mode in China,but it can be foreseen that the quantitative investment in the future will surely usher in the golden age of development.The quantitative GARP strategy is excellent in foreign stock markets,but few investors in China's stock market are involved.The more commonly used quantitative strategy in China's securities market is the growth strategy,in order to better verify the adaptation of the quantitative investment strategy in China's SSE A shares.In order to provide investors with reference,this paper selects the stocks of SSE A shares from 2011 to 2018 as a research sample based on the previous literature,and uses the scoring method to construct GARP strategy model and growth strategy model and construct two strategies.Combine,and observe the adaptive performance of the two strategies in China's stock market from the perspective of the whole industry and sub-industry,and compare the performance of the two strategies to better evaluate the strategy.The research finds that The overall market is still in different industries.GARP strategy and growth strategy have better performance than the market,but the GARP strategy is better than the growth strategy in terms of revenue and risk return.Therefore,the quantitative strategy can be achieved in China's SSE A-share market.At the same time,compared with the growth strategy,the GARP strategy is more suitable for the investment of the SSE A-share market in China.