一、什么是因子（Factor）：量化投资中最受欢迎的领域之一就是“因子投资（Factor Investing）”。在维基百科中，Factor Investing的解释如下： Factor investing is an investment approach that involves targeting quantifiable firm characteristics or “factors” that can explain differences in stock returns. Security characteristics that may be included in a factor-based approach include size,low-volatility…