factor_id,factor_name,source_pdf,source_page,before,after,note
FCAL_20220501_一致买入交易因子,一致买入交易因子,因子日历2022.pdf,127,"$$
close - open \leq \alpha high - low
$$

$$
PCV_{t} = \frac{1}{d} \sum_{i = 1} \left(\frac{\text{ConsistentVolume}_{rise}}{\text{Volume}}\right) t - i
$$","$$
| close - open | \leq \alpha | high - low |
$$

$$
PCV_{t} = \frac{1}{d} \sum_{i = 1} \left(\frac{\text{ConsistentVolume}_{rise}}{\text{Volume}}\right) t - i
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20220701_非流动性,非流动性,因子日历2022.pdf,190,"$$
shortcut = 2 * (high - low) - close - open
$$

$$
ILLIQ_{t} = \frac{1}{d} \sum_{i = 1}^{d} \left(\sum_{j = 1}^{p} \frac{\text{ShortCut}_{j}}{\text{Value}_{j}}\right)_{t - i}
$$","$$
shortcut = 2 * (high - low) - | close - open |
$$

$$
ILLIQ_{t} = \frac{1}{d} \sum_{i = 1}^{d} \left(\sum_{j = 1}^{p} \frac{\text{ShortCut}_{j}}{\text{Value}_{j}}\right)_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20220814_残差反转因子,残差反转因子,因子日历2022.pdf,235,"$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} buy_{t} - sell_{t}}
$$

$$
Ret20_{t} = a + b * S_{t} + \varepsilon_{t}
$$","$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} | buy_{t} - sell_{t} |}
$$

$$
Ret20_{t} = a + b * S_{t} + \varepsilon_{t}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20221004_一致交易,一致交易,因子日历2022.pdf,288,"$$
close - open \leq \alpha high - low
$$

$$
TCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}}{\text{Volume}})_{t - i}
$$","$$
| close - open | \leq \alpha | high - low |
$$

$$
TCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}}{\text{Volume}})_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20221117_Amihud非流动性因子,Amihud非流动性因子,因子日历2022.pdf,333,最近K个月日度 $\frac{收益率}{成交额}$ 的移动平均值,最近K个月日度 $\frac{| 收益率 |}{成交额}$ 的移动平均值,修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20221221_一致卖出交易,一致卖出交易,因子日历2022.pdf,368,"$$
close - open \leq \alpha high - low
$$

$$
NCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}_{fall}}{\text{Volume}})_{t - i}
$$","$$
| close - open | \leq \alpha | high - low |
$$

$$
NCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}_{fall}}{\text{Volume}})_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20221223_相对动量指标,相对动量指标,因子日历2022.pdf,370,"$$
\mathrm{UM} (\mathrm{N1}) = \mathrm{IF} (\text{CLOSE - CLOSE} [ \mathrm{N1} ] > 0,\text{CLOSE - CLOSE} [ \mathrm{N1} ],0)
$$

$$
DM (N1) = IF (CLOSE - CLOSE [ N1 ] < 0,CLOSE [ N1 ] - CLOSE,0)
$$

$$
\mathrm{UA} (\mathrm{N} 2) = (\mathrm{UA} [ 1 ]^{ * } (\mathrm{N} 2 - 1) + \mathrm{UM}) / \mathrm{N} 2
$$

$$
DA (N2) = (DA [ 1 ]^{ * } (N2 - 1) + DM) / N2
$$

$$
RMI = 100^{ * } (UA / (UA + DA))
$$

$$
\mathrm{UA} \text{初始值} = \mathrm{SMA(UM,N)}
$$

$$
DA \text{初 始 值} = SMA (DM,N)
$$

$$
\text{若分母为} 0,\text{则令} MI = 50
$$

$$
\text{默认}: N1 = 5,N2 = 14
$$","$$
\mathrm{UM} (\mathrm{N1}) = \mathrm{IF} (\text{CLOSE - CLOSE} [ \mathrm{N1} ] > 0,\text{CLOSE - CLOSE} [ \mathrm{N1} ],0)
$$

$$
DM (N1) = IF (CLOSE - CLOSE [ N1 ] < 0,CLOSE [ N1 ] - CLOSE,0)
$$

$$
\mathrm{UA} (\mathrm{N} 2) = (\mathrm{UA} [ 1 ]^{ * } (\mathrm{N} 2 - 1) + \mathrm{UM}) / \mathrm{N} 2
$$

$$
DA (N2) = (DA [ 1 ]^{ * } (N2 - 1) + DM) / N2
$$

$$
RMI = 100^{ * } (UA / (UA + DA))
$$

$$
\mathrm{UA} \text{初始值} = \mathrm{SMA(UM,N)}
$$

$$
DA \text{初 始 值} = SMA (DM,N)
$$

$$
\text{若分母为} 0,\text{则令} | MI | = 50
$$

$$
\text{默认}: N1 = 5,N2 = 14
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20221227_残差资金流强度因子,残差资金流强度因子,因子日历2022.pdf,374,"$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} buy_{t} - sell_{t}}
$$

$$
S_{t} = a + bRet20_{t} + \varepsilon_{t}
$$","$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} | buy_{t} - sell_{t} |}
$$

$$
S_{t} = a + bRet20_{t} + \varepsilon_{t}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230119_Amihud非流动性因子,Amihud 非流动性因子,因子日历2023.pdf,22,"$$
ILLIQ_{i,t} = Avg \left[ \frac{R_{i,d}}{VOLD_{i,d}} \right]
$$","$$
ILLIQ_{i,t} = Avg \left[ \frac{| R_{i,d} |}{VOLD_{i,d}} \right]
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230121_一致交易,一致交易,因子日历2023.pdf,24,"$$
close - open \leq \alpha high - low
$$

$$
TCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}}{\text{Volume}})_{t - i}
$$","$$
| close - open | \leq \alpha | high - low |
$$

$$
TCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}}{\text{Volume}})_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230202_一致买入交易,一致买入交易,因子日历2023.pdf,37,"$$
close - open \leq \alpha high - low
$$

$$
PCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}_{rise}}{\text{Volume}})_{t - i}
$$","$$
| close - open | \leq \alpha | high - low |
$$

$$
PCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}_{rise}}{\text{Volume}})_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230215_非流动性的变异系数,非流动性的变异系数,因子日历2023.pdf,50,"$$
ILLIQ_{i,t} = \frac{r_{i,t}}{Amount_{i,t}}
$$

$$
CVILLIQ_{i} = \frac{\sigma \left(ILLIQ_{i}\right)}{\overline{{ILLIQ_{i}}}}
$$","$$
ILLIQ_{i,t} = \frac{| r_{i,t} |}{Amount_{i,t}}
$$

$$
CVILLIQ_{i} = \frac{\sigma \left(ILLIQ_{i}\right)}{\overline{{ILLIQ_{i}}}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230221_一致卖出交易,一致卖出交易,因子日历2023.pdf,56,"$$
\left| close - open \right| \leq \alpha high - low
$$

$$
NCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} \big (\frac{ConsistentVolume_{fall}}{Volume} \big)_{t - i}
$$","$$
\left| close - open \right| \leq \alpha | high - low |
$$

$$
NCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} \big (\frac{ConsistentVolume_{fall}}{Volume} \big)_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230426_负收益非流动性,负收益非流动性,因子日历2023.pdf,122,"$$
ILLIQ_{i,t} = \frac{1}{n_{d}} \sum_{k \in d} \frac{rd_{i,t - k}}{Amount_{i,t - k}}
$$","$$
ILLIQ_{i,t} = \frac{1}{n_{d}} \sum_{k \in d} \frac{| rd_{i,t - k} |}{Amount_{i,t - k}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230610_非流动性,非流动性,因子日历2023.pdf,169,"$$
shortcut = 2 * (high - low) - close - open
$$

$$
ILLIQ_{t} = \frac{1}{d} \sum_{i = 1}^{d} \left(\sum_{j = 1}^{p} \frac{\mathrm{ShortCut}_{j}}{\mathrm{Value}_{j}}\right)_{t - i}
$$","$$
shortcut = 2 * (high - low) - | close - open |
$$

$$
ILLIQ_{t} = \frac{1}{d} \sum_{i = 1}^{d} \left(\sum_{j = 1}^{p} \frac{\mathrm{ShortCut}_{j}}{\mathrm{Value}_{j}}\right)_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230621_流动性冲击,流动性冲击,因子日历2023.pdf,180,"$$
LIQU_{i,t} = - \left(ILLIQ_{i,t} - AVGILLIQ_{it - 12,t - 1}\right)
$$","$$
LIQU_{i,t} = - \left(ILLIQ_{i,t} - AVGILLIQ_{i | t - 12,t - 1}\right)
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230708_残差资金流强度因子,残差资金流强度因子,因子日历2023.pdf,198,"$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} buy_{t} - sell_{t}}
$$

$$
S_{t} = a + bRet20_{t} + \varepsilon_{t}
$$","$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} | buy_{t} - sell_{t} |}
$$

$$
S_{t} = a + bRet20_{t} + \varepsilon_{t}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230805_日内动量指标,日内动量指标,因子日历2023.pdf,227,若分母为 0，则令 $ MI = 100$,若分母为 0，则令 $|MI| = 100$,修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20230808_残差反转因子,残差反转因子,因子日历2023.pdf,230,"$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} buy_{t} - sell_{t}}
$$

$$
Ret20_{t} = a + b * S_{t} + \varepsilon_{t}
$$","$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} | buy_{t} - sell_{t} |}
$$

$$
Ret20_{t} = a + b * S_{t} + \varepsilon_{t}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20231103_条件风险价值,条件风险价值,因子日历2023.pdf,320,"$$
CVaR_{\alpha} = - \frac{\int_{0}^{\alpha} VaR_{r} (X) dr}{\alpha}
$$

$$
CVaR_{\alpha} = E [ XX < VaR_{\alpha} ]
$$","$$
CVaR_{\alpha} = - \frac{\int_{0}^{\alpha} VaR_{r} (X) dr}{\alpha}
$$

$$
CVaR_{\alpha} = E [ X | X < VaR_{\alpha} ]
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20231222_业绩超预期,业绩超预期,因子日历2023.pdf,370,"$$
EarningSurprise = \frac{A - F}{\sigma}
$$

$$
MAD = \text{median}_{i} ( X_{i} - \text{median}_{j} (X_{j}) )
$$

$$
\widehat{\sigma} = k * MAD
$$","$$
EarningSurprise = \frac{A - F}{\sigma}
$$

$$
MAD = \text{median}_{i} (| X_{i} - \text{median}_{j} (X_{j}) |)
$$

$$
\widehat{\sigma} = k * MAD
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240118_累计跳跃绝对收益,累计跳跃绝对收益,因子日历2024.pdf,20,"$$
JAR = e^{\sum_{t = 1}^{D} \left\{r_{t} \cdot I_{jump \_ SwV,t} \right\}} - 1
$$

$$
I_{jump \_ SwV} = I (T_{SwV} > \Phi_{1 - \alpha}^{ - 1})
$$","$$
JAR = e^{\sum_{t = 1}^{D} \left\{| r_{t} | \cdot I_{jump \_ SwV,t} \right\}} - 1
$$

$$
I_{jump \_ SwV} = I (T_{SwV} > \Phi_{1 - \alpha}^{ - 1})
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240119_非流动性的变异系数,非流动性的变异系数,因子日历2024.pdf,21,"$$
ILLIQ_{i,t} = \frac{r_{i,t}}{Amount_{i,t}}
$$

$$
CVILLIQ_{i} = \frac{\sigma \left(ILLIQ_{i}\right)}{\overline{{ILLIQ_{i}}}}
$$","$$
ILLIQ_{i,t} = \frac{| r_{i,t} |}{Amount_{i,t}}
$$

$$
CVILLIQ_{i} = \frac{\sigma \left(ILLIQ_{i}\right)}{\overline{{ILLIQ_{i}}}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240120_残差资金流强度因子,残差资金流强度因子,因子日历2024.pdf,22,"$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} buy_{t} - sell_{t}}
$$

$$
S_{t} = a + bRet20_{t} + \varepsilon_{t}
$$","$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} | buy_{t} - sell_{t} |}
$$

$$
S_{t} = a + bRet20_{t} + \varepsilon_{t}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240202_Amihud非流动性因子,Amihud 非流动性因子,因子日历2024.pdf,36,"$$
ILLIQ_{i,t} = Avg \left[ \frac{R_{i,d}}{VOLD_{i,d}} \right]
$$","$$
ILLIQ_{i,t} = Avg \left[ \frac{| R_{i,d} |}{VOLD_{i,d}} \right]
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240220_残差反转,残差反转,因子日历2024.pdf,54,"$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} buy_{t} - sell_{t}}
$$

$$
Ret20_{t} = a + b * S_{t} + \varepsilon_{t}
$$","$$
S_{t} = \frac{\sum_{t - T}^{t} (buy_{t} - sell_{t})}{\sum_{t - T}^{t} | buy_{t} - sell_{t} |}
$$

$$
Ret20_{t} = a + b * S_{t} + \varepsilon_{t}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240316_每笔成交量筛选的局部反转因子,每笔成交量筛选的局部反转因子,因子日历2024.pdf,80,"$$
sum \big (\{ret_{i} q_{j} (pvol_{i}) < pvol_{i} < q_{j + 1} (pvol_{i}) \} \big)
$$","$$
sum \big (\{ret_{i} | q_{j} (pvol_{i}) < pvol_{i} < q_{j + 1} (pvol_{i}) \} \big)
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240323_非流动性,非流动性,因子日历2024.pdf,87,"$$
shortcut = 2 * (high - low) - close - open
$$

$$
ILLIQ_{t} = \frac{1}{d} \sum_{i = 1}^{d} \left(\sum_{j = 1}^{p} \frac{\mathrm{ShortCut}_{j}}{\mathrm{Value}_{j}}\right)_{t - i}
$$","$$
shortcut = 2 * (high - low) - | close - open |
$$

$$
ILLIQ_{t} = \frac{1}{d} \sum_{i = 1}^{d} \left(\sum_{j = 1}^{p} \frac{\mathrm{ShortCut}_{j}}{\mathrm{Value}_{j}}\right)_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240411_已实现双幂次变差,已实现双幂次变差,因子日历2024.pdf,107,"$$
RBV_{t} = \mu_{1}^{ - 2} \sum_{i = 2}^{n} r_{t_{i}} \left| r_{t_{i - 1}} \right|
$$

$$
\mu_{q} = E ( Z^{q}) = 2^{q / 2} \frac{\Gamma \left(\frac{1}{2} (q + 1)\right)}{\Gamma \left(\frac{1}{2}\right)}
$$

$$
\Gamma (\alpha) = \int_{0}^{ + \infty} x^{\alpha - 1} e^{ - x} dx
$$","$$
RBV_{t} = \mu_{1}^{ - 2} \sum_{i = 2}^{n} | r_{t_{i}} | \left| r_{t_{i - 1}} \right|
$$

$$
\mu_{q} = E (| Z |^{q}) = 2^{q / 2} \frac{\Gamma \left(\frac{1}{2} (q + 1)\right)}{\Gamma \left(\frac{1}{2}\right)}
$$

$$
\Gamma (\alpha) = \int_{0}^{ + \infty} x^{\alpha - 1} e^{ - x} dx
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240422_绝对收益与调整后滞后成交量相关性,绝对收益与调整后滞后成交量相关性,因子日历2024.pdf,118,"$$
adj \_ CORA \_ A = corr ( Ret_{t},adjAmount_{t - 1}),Ret_{t} \neq 0
$$

$$
adjAmount_{t} = \frac{Amount_{t} - \mu_{t}}{\sigma_{t}}
$$","$$
adj \_ CORA \_ A = corr (| Ret_{t} |,adjAmount_{t - 1}),Ret_{t} \neq 0
$$

$$
adjAmount_{t} = \frac{Amount_{t} - \mu_{t}}{\sigma_{t}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240424_已实现三幂次变差,已实现三幂次变差,因子日历2024.pdf,120,"$$
RTV_{t} = V_{\frac{2}{3},\frac{2}{3},\frac{2}{3}} \mu_{\frac{2}{3}}^{ - 3}
$$

$$
V_{m_{1},m_{2},\ldots,m_{k}} = \sum_{i = k}^{n} r_{t_{i}}^{\mathrm{m}_{1}} \left| r_{t_{i - 1}} \right|^{\mathrm{m}_{2}} \dots \left| r_{t_{i - k + 1}} \right|^{\mathrm{m}_{k}}
$$

$$
\mu_{q} = E ( Z^{q}) = 2^{q / 2} \frac{\Gamma \left(\frac{1}{2} (q + 1)\right)}{\Gamma \left(\frac{1}{2}\right)}
$$

$$
\Gamma (\alpha) = \int_{0}^{ + \infty} x^{\alpha - 1} e^{ - x} dx
$$","$$
RTV_{t} = V_{\frac{2}{3},\frac{2}{3},\frac{2}{3}} \mu_{\frac{2}{3}}^{ - 3}
$$

$$
V_{m_{1},m_{2},\ldots,m_{k}} = \sum_{i = k}^{n} | r_{t_{i}} |^{\mathrm{m}_{1}} \left| r_{t_{i - 1}} \right|^{\mathrm{m}_{2}} \dots \left| r_{t_{i - k + 1}} \right|^{\mathrm{m}_{k}}
$$

$$
\mu_{q} = E (| Z |^{q}) = 2^{q / 2} \frac{\Gamma \left(\frac{1}{2} (q + 1)\right)}{\Gamma \left(\frac{1}{2}\right)}
$$

$$
\Gamma (\alpha) = \int_{0}^{ + \infty} x^{\alpha - 1} e^{ - x} dx
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240629_一致买入交易,一致买入交易,因子日历2024.pdf,188,"$$
close - open \leq \alpha high - low
$$

$$
PCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}_{rise}}{\text{Volume}})_{t - i}
$$","$$
| close - open | \leq \alpha | high - low |
$$

$$
PCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}_{rise}}{\text{Volume}})_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240701_负收益非流动性,负收益非流动性,因子日历2024.pdf,191,"$$
ILLIQ_{i,t} = \frac{1}{n_{d}} \sum_{k \in d} \frac{rd_{i,t - k}}{Amount_{i,t - k}}
$$","$$
ILLIQ_{i,t} = \frac{1}{n_{d}} \sum_{k \in d} \frac{| rd_{i,t - k} |}{Amount_{i,t - k}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240816_流动性冲击,流动性冲击,因子日历2024.pdf,238,"$$
LIQU_{i,t} = - \left(ILLIQ_{i,t} - AVGILLIQ_{it - 12,t - 1}\right)
$$","$$
LIQU_{i,t} = - \left(ILLIQ_{i,t} - AVGILLIQ_{i | t - 12,t - 1}\right)
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240827_一致交易,一致交易,因子日历2024.pdf,249,"$$
close - open \leq \alpha high - low
$$

$$
TCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}}{\text{Volume}})_{t - i}
$$","$$
| close - open | \leq \alpha | high - low |
$$

$$
TCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}}{\text{Volume}})_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20240910_卖盘深度,卖盘深度,因子日历2024.pdf,264,"$$
ask \_ depth = \Sigma \frac{av_{i} * mid_{price}}{a_{i} - last_{mid} + \epsilon}
$$","$$
ask \_ depth = \Sigma | \frac{av_{i} * mid_{price}}{a_{i} - last_{mid} + \epsilon} |
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241002_买盘深度,买盘深度,因子日历2024.pdf,287,"$$
bid \_ depth = \Sigma \frac{bv_{i} * mid_{price}}{b_{i} - last_{mid} + \epsilon}
$$","$$
bid \_ depth = \Sigma | \frac{bv_{i} * mid_{price}}{b_{i} - last_{mid} + \epsilon} |
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241016_凸显性收益,凸显性收益,因子日历2024.pdf,301,"$$
\sigma (r_{i,s},\overline{{{{r_{s}}}}}) = \frac{r_{i,s} - \overline{{{{r_{s}}}}}}{r_{i,s} + \overline{{{{r_{s}}}}} + \theta}
$$

$$
\omega_{i,s} = \frac{\delta^{k_{i,s}}}{\sum_{S^{\prime}} \delta^{k_{i,s^{\prime}}} \times \pi_{s^{\prime}}}
$$

$$
STR_{i} = cov [ \omega_{i,s},r_{i,s} ]
$$","$$
\sigma (r_{i,s},\overline{{{{r_{s}}}}}) = \frac{| r_{i,s} - \overline{{{{r_{s}}}}} |}{| r_{i,s} | + | \overline{{{{r_{s}}}}} | + \theta}
$$

$$
\omega_{i,s} = \frac{\delta^{k_{i,s}}}{\sum_{S^{\prime}} \delta^{k_{i,s^{\prime}}} \times \pi_{s^{\prime}}}
$$

$$
STR_{i} = cov [ \omega_{i,s},r_{i,s} ]
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241107_滞后绝对收益与调整后成交量相关性,滞后绝对收益与调整后成交量相关性,因子日历2024.pdf,324,"$$
adj \_ CORA \_ R = corr ( Ret_{t - 1},adjAmount_{t}),Ret_{t - 1} \neq 0
$$

$$
adjAmount_{t} = \frac{Amount_{t} - \mu_{t}}{\sigma_{t}}
$$","$$
adj \_ CORA \_ R = corr (| Ret_{t - 1} |,adjAmount_{t}),Ret_{t - 1} \neq 0
$$

$$
adjAmount_{t} = \frac{Amount_{t} - \mu_{t}}{\sigma_{t}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241123_极端收益反转,极端收益反转,因子日历2024.pdf,340,"$$
S = r_{i,t} - median (\{r_{i,t} \})
$$

$$
rank (\frac{1}{20} \sum r_{i,t_{max (S)}}) + rank (\frac{1}{20} \sum r_{i,t_{max (S)} - 1})
$$","$$
S = | r_{i,t} - median (\{r_{i,t} \}) |
$$

$$
rank (\frac{1}{20} \sum r_{i,t_{max (S)}}) + rank (\frac{1}{20} \sum r_{i,t_{max (S)} - 1})
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241124_业绩超预期,业绩超预期,因子日历2024.pdf,341,"$$
EarningSurprise = \frac{A - F}{\sigma}
$$

$$
MAD = median_{i} ( X_{i} - median_{j} (X_{j}) )
$$

$$
\widehat{\sigma} = k * MAD
$$","$$
EarningSurprise = \frac{A - F}{\sigma}
$$

$$
MAD = median_{i} (| X_{i} - median_{j} (X_{j}) |)
$$

$$
\widehat{\sigma} = k * MAD
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241127_高频弹性因子,高频弹性因子,因子日历2024.pdf,344,"$$
p_{t} = q_{t} + z_{t}
$$

$$
Z_{k} = \sum_{t = 1}^{D} z_{t} e^{ - \frac{i2 \pi kt}{D}},\quad (k = 1,2,\dots,D)
$$

$$
\bar{Z}_{k} = \frac{1}{D} Z_{k}
$$

$$
Resiliency_{i,t} = \frac{1}{\left[ \frac{D_{i,t}}{2} \right]} \Sigma_{k = 1}^{[ D_{i,t} / 2 ]} \frac{2 \bar{Z}_{k,i,t}}{T_{k,i,t}} = \frac{1}{\left[ \frac{D_{i,t}}{2} \right]} \Sigma_{k = 1}^{[ D_{i,t} / 2 ]} 2 \bar{Z}_{k,i,t} \cdot f_{k,i,t}
$$","$$
p_{t} = q_{t} + z_{t}
$$

$$
Z_{k} = \sum_{t = 1}^{D} z_{t} e^{ - \frac{i2 \pi kt}{D}},\quad (k = 1,2,\dots,D)
$$

$$
| \bar{Z}_{k} | = | \frac{1}{D} Z_{k} |
$$

$$
Resiliency_{i,t} = \frac{1}{\left[ \frac{D_{i,t}}{2} \right]} \Sigma_{k = 1}^{[ D_{i,t} / 2 ]} \frac{2 | \bar{Z}_{k,i,t} |}{T_{k,i,t}} = \frac{1}{\left[ \frac{D_{i,t}}{2} \right]} \Sigma_{k = 1}^{[ D_{i,t} / 2 ]} 2 | \bar{Z}_{k,i,t} | \cdot f_{k,i,t}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241130_绝对收益与成交量相关性,绝对收益与成交量相关性,因子日历2024.pdf,347,"$$
CORA = corr ( Ret_{t},Amount_{t}),t \in [ 1,240 ]
$$","$$
CORA = corr (| Ret_{t} |,Amount_{t}),t \in [ 1,240 ]
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241202_一致卖出交易,一致卖出交易,因子日历2024.pdf,350,"$$
close - open \leq \alpha high - low
$$

$$
NCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}_{fall}}{\text{Volume}})_{t - i}
$$","$$
| close - open | \leq \alpha | high - low |
$$

$$
NCV_{t} = \frac{1}{d} \sum_{i = 1}^{d} (\frac{\text{ConsistentVolume}_{fall}}{\text{Volume}})_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241211_交易量同步的知情交易概率,交易量同步的知情交易概率,因子日历2024.pdf,359,"$$
\begin{array}{l} VPIN = \frac{\alpha \mu}{\alpha \mu + 2 \varepsilon} \approx \frac{E [ V_{\tau}^{S} - V_{\tau}^{B} ]}{V} \\ = \frac{\sum_{i = 1}^{n} \left| V_{\tau}^{S} - V_{\tau}^{B} \right|}{nV} \\ \end{array}
$$

$$
V_{\tau}^{B} = \sum_{i = t (\tau - 1) + 1}^{t (\tau)} V_{i} \cdot Z \left(\frac{P_{i} - P_{i - 1}}{\sigma_{\Delta P}}\right)
$$

$$
V_{\tau}^{S} = \sum_{i = t (\tau - 1) + 1}^{t (\tau)} V_{i} \cdot \left[ 1 - Z \left(\frac{P_{i} - P_{i - 1}}{\sigma_{\Delta P}}\right) \right] = V - V_{\tau}^{B}
$$","$$
\begin{array}{l} VPIN = \frac{\alpha \mu}{\alpha \mu + 2 \varepsilon} \approx \frac{E [ | V_{\tau}^{S} - V_{\tau}^{B} | ]}{V} \\ = \frac{\sum_{i = 1}^{n} \left| V_{\tau}^{S} - V_{\tau}^{B} \right|}{nV} \\ \end{array}
$$

$$
V_{\tau}^{B} = \sum_{i = t (\tau - 1) + 1}^{t (\tau)} V_{i} \cdot Z \left(\frac{P_{i} - P_{i - 1}}{\sigma_{\Delta P}}\right)
$$

$$
V_{\tau}^{S} = \sum_{i = t (\tau - 1) + 1}^{t (\tau)} V_{i} \cdot \left[ 1 - Z \left(\frac{P_{i} - P_{i - 1}}{\sigma_{\Delta P}}\right) \right] = V - V_{\tau}^{B}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241216_绝对收益与滞后成交量相关性,绝对收益与滞后成交量相关性,因子日历2024.pdf,364,"$$
CORA \_ A = corr ( Ret_{t},Amount_{t - 1}),t \in [ 1,240 ]
$$","$$
CORA \_ A = corr (| Ret_{t} |,Amount_{t - 1}),t \in [ 1,240 ]
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241218_基于物理时间交易量加权的知情交易概率,基于物理时间交易量加权的知情交易概率,因子日历2024.pdf,366,"$$
VWPIN = \frac{\alpha \mu}{\alpha \mu + 2 \varepsilon} \approx \sum_{i = 1}^{n} w_{i} \frac{S_{i} - B_{i}}{S_{i} + B_{i}}
$$

$$
w_{i} = \frac{\text{Volume}_{i}}{\sum_{i = 1}^{n} \text{Volume}_{i}}
$$","$$
VWPIN = \frac{\alpha \mu}{\alpha \mu + 2 \varepsilon} \approx \sum_{i = 1}^{n} w_{i} \frac{| S_{i} - B_{i} |}{S_{i} + B_{i}}
$$

$$
w_{i} = \frac{\text{Volume}_{i}}{\sum_{i = 1}^{n} \text{Volume}_{i}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20241231_滞后绝对收益与成交量相关性,滞后绝对收益与成交量相关性,因子日历2024.pdf,379,"$$
CORA \_ R = corr ( Ret_{t - 1},Amount_{t}),t \in [ 1,240 ]
$$","$$
CORA \_ R = corr (| Ret_{t - 1} |,Amount_{t}),t \in [ 1,240 ]
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250108_最大异常日收益率,最大异常日收益率,因子日历2025.pdf,10,"$$
ABNRETD = \max_{t} r_{i,t} - \bar{r}_{t}
$$","$$
ABNRETD = \max_{t} | r_{i,t} - \bar{r}_{t} |
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250112_Amihud非流动性比例,Amihud 非流动性比例,因子日历2025.pdf,14,"$$
ILLIQ = \frac{1}{R} \sum_{i = 1}^{R} \frac{r_{i}}{Amount_{i}}
$$","$$
ILLIQ = \frac{1}{R} \sum_{i = 1}^{R} \frac{| r_{i} |}{Amount_{i}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250122_新闻网络节点度,新闻网络节点度,因子日历2025.pdf,24,"$$
l_{ij,T} \stackrel{\text{def}} { = } \bigcup_{m_{d} \in D_{T}} \left\{(i,j)_{m_{d}} j \text{in} m_{d} \text{title},i \text{in} m_{d} \text{headline},i \neq j \right\} \mathcal{W}_{T}
$$

$$
\stackrel{\mathrm{def}} { = } [ \omega_{ij,T} ]_{n \times n} = \left[ \frac{l_{ij,T}}{\sum_{j = 1}^{n} l_{ij,T}} \right]_{n \times n}
$$

$$
\begin{array}{l} \mathcal{A}_{i,t} \left(\omega_{ij,t - l: t}\right) = \# \{j: \omega_{ij,t - l: t} \neq 0 \} + \# \{j: \omega_{ji,t - l: t} \neq 0 \},j \\ = 1,2,\dots,n,\\ \end{array}
$$","$$
l_{ij,T} \stackrel{\text{def}} { = } \bigcup_{m_{d} \in D_{T}} \left\{(i,j)_{m_{d}} | j \text{in} m_{d} \text{title},i \text{in} m_{d} \text{headline},i \neq j \right\} \mathcal{W}_{T}
$$

$$
\stackrel{\mathrm{def}} { = } [ \omega_{ij,T} ]_{n \times n} = \left[ \frac{l_{ij,T}}{\sum_{j = 1}^{n} l_{ij,T}} \right]_{n \times n}
$$

$$
\begin{array}{l} \mathcal{A}_{i,t} \left(\omega_{ij,t - l: t}\right) = \# \{j: \omega_{ij,t - l: t} \neq 0 \} + \# \{j: \omega_{ji,t - l: t} \neq 0 \},j \\ = 1,2,\dots,n,\\ \end{array}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250127_套期保值比例,套期保值比例,因子日历2025.pdf,29,"$$
HP = \frac{OI_{t} - OI_{t - J}}{\Sigma_{j = 0}^{J - 1} Vol_{t - j}}
$$","$$
HP = \frac{| OI_{t} - OI_{t - J} |}{\Sigma_{j = 0}^{J - 1} Vol_{t - j}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250218_非流动性,非流动性,因子日历2025.pdf,52,"$$
\text{shortcut} = 2 * (\text{high} - \text{low}) - \text{close} - \text{open}
$$

$$
ILLIQ_{t} = \frac{1}{d} \sum_{i = 1}^{d} \left(\sum_{j = 1}^{p} \frac{\text{ShortCut}_{j}}{\text{Value}_{j}}\right)_{t - i}
$$","$$
\text{shortcut} = 2 * (\text{high} - \text{low}) - | \text{close} - \text{open} |
$$

$$
ILLIQ_{t} = \frac{1}{d} \sum_{i = 1}^{d} \left(\sum_{j = 1}^{p} \frac{\text{ShortCut}_{j}}{\text{Value}_{j}}\right)_{t - i}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250316_跳跃强度,跳跃强度,因子日历2025.pdf,80,"$$
T_{SwV} = \frac{BV_{t}}{N^{ - 1} \sqrt{\hat{\Omega}_{SwV}}} (1 - \frac{RV_{t}}{SwV_{t}}) \xrightarrow{d} N (0,1)
$$

$$
\widehat{\Omega}_{SwV} = \frac{\mu_{6}}{9} \frac{N^{3}}{N - 5} \int_{t - 1}^{t} \sigma_{s}^{6} \mathrm{d} s = \frac{\mu_{6}}{9} \frac{N^{3}}{N - 3} \mu_{3 / 2}^{ - 4} \sum_{i = 0}^{N - 3} \left(\prod_{k = 1}^{4} r_{t_{i + k}}^{3 / 2}\right)
$$

$$
SwV_{t} = 2 \sum_{i = 1}^{N} (R_{t_{i}} - r_{t_{i}})
$$","$$
T_{SwV} = \frac{BV_{t}}{N^{ - 1} \sqrt{\hat{\Omega}_{SwV}}} (1 - \frac{RV_{t}}{SwV_{t}}) \xrightarrow{d} N (0,1)
$$

$$
\widehat{\Omega}_{SwV} = \frac{\mu_{6}}{9} \frac{N^{3}}{N - 5} \int_{t - 1}^{t} \sigma_{s}^{6} \mathrm{d} s = \frac{\mu_{6}}{9} \frac{N^{3}}{N - 3} \mu_{3 / 2}^{ - 4} \sum_{i = 0}^{N - 3} \left(\prod_{k = 1}^{4} | r_{t_{i + k}} |^{3 / 2}\right)
$$

$$
SwV_{t} = 2 \sum_{i = 1}^{N} (R_{t_{i}} - r_{t_{i}})
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250324_CSAD模型,CSAD 模型,因子日历2025.pdf,88,"$$
CSAD = \frac{\sum_{i = 1}^{N} r_{i} - R_{m}}{N}
$$

$$
CSAD = \alpha + \beta_{1} R_{mt} + \beta_{2} R_{mt}^{2} + \varepsilon
$$","$$
CSAD = \frac{\sum_{i = 1}^{N} | r_{i} - R_{m} |}{N}
$$

$$
CSAD = \alpha + \beta_{1} | R_{mt} | + \beta_{2} | R_{mt} |^{2} + \varepsilon
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250412_变异系数,变异系数,因子日历2025.pdf,108,"$$
CV_{t}^{j} = \frac{\sigma_{j,t}^{2}}{\mu_{j,t}}
$$","$$
CV_{t}^{j} = \frac{\sigma_{j,t}^{2}}{| \mu_{j,t} |}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250420_Amivest流动性比率,Amivest 流动性比率,因子日历2025.pdf,116,"$$
LR = \frac{1}{D} \sum \frac{\mathbb{S} Volume_{d}}{r_{d}}
$$","$$
LR = \frac{1}{D} \sum \frac{\mathbb{S} Volume_{d}}{| r_{d} |}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250518_新闻网络领先收益,新闻网络领先收益,因子日历2025.pdf,145,"$$
l_{ij,T} \stackrel{\text{def}} { = } \bigcup_{m_{d} \in D_{T}} \left\{(i,j)_{m_{d}} j \text{in} m_{d} \text{title},i \text{in} m_{d} \text{headline},i \neq j \right\} \mathcal{W}_{T} \stackrel{\text{def}} { = } [ \omega_{ij,T} ]_{n \times n} = \left[ \frac{l_{ij,T}}{\sum_{j = 1}^{n} l_{ij,T}} \right]_{n \times n}
$$

$$
\omega_{ij,T}^{w} \stackrel{\text{def}} { = } I \{\mathrm{i,jfromsamesector} \} \cdot \omega_{ij,T}
$$

$$
\omega_{ij,T}^{c} \stackrel{\text{def}} { = } I \{\mathrm{i,jfromdiffsector} \} \cdot \omega_{ij,T}
$$

$$
\omega_{ij,T}^{c} \stackrel{\text{def}} { = } I \{\mathrm{i},\mathrm{j} \text{from diff sector} \} \cdot \omega_{ij,T} \mathcal{LR}_{i,t}^{ + ( - )} (\omega_{ij,t - l: t}) \stackrel{\text{def}} { = } \sum_{j = 1}^{n.} \omega_{ij,t - l: t} \cdot \left| r_{j,t}^{ + ( - )} \right|
$$

$$
\mathcal{LR}_{agg} \left(\omega_{ij,t - 365: t}\right) = \mathcal{LR}^{ + } \left(\omega_{ij,t - 365: t}^{\omega}\right) + \mathcal{LR}^{-} \left(\omega_{ij,t - 365: t}^{\omega}\right) + \mathcal{LR}^{-} \left(\omega_{ij,t - 365: t}^{\epsilon}\right) - \mathcal{LR}^{ + } \left(\omega_{ij,t - 365: t}^{\epsilon}\right)
$$","$$
l_{ij,T} \stackrel{\text{def}} { = } \bigcup_{m_{d} \in D_{T}} \left\{(i,j)_{m_{d}} | j \text{in} m_{d} \text{title},i \text{in} m_{d} \text{headline},i \neq j \right\} \mathcal{W}_{T} \stackrel{\text{def}} { = } [ \omega_{ij,T} ]_{n \times n} = \left[ \frac{l_{ij,T}}{\sum_{j = 1}^{n} l_{ij,T}} \right]_{n \times n}
$$

$$
\omega_{ij,T}^{w} \stackrel{\text{def}} { = } I \{\mathrm{i,jfromsamesector} \} \cdot \omega_{ij,T}
$$

$$
\omega_{ij,T}^{c} \stackrel{\text{def}} { = } I \{\mathrm{i,jfromdiffsector} \} \cdot \omega_{ij,T}
$$

$$
\omega_{ij,T}^{c} \stackrel{\text{def}} { = } I \{\mathrm{i},\mathrm{j} \text{from diff sector} \} \cdot \omega_{ij,T} \mathcal{LR}_{i,t}^{ + ( - )} (\omega_{ij,t - l: t}) \stackrel{\text{def}} { = } \sum_{j = 1}^{n.} \omega_{ij,t - l: t} \cdot \left| r_{j,t}^{ + ( - )} \right|
$$

$$
\mathcal{LR}_{agg} \left(\omega_{ij,t - 365: t}\right) = \mathcal{LR}^{ + } \left(\omega_{ij,t - 365: t}^{\omega}\right) + \mathcal{LR}^{-} \left(\omega_{ij,t - 365: t}^{\omega}\right) + \mathcal{LR}^{-} \left(\omega_{ij,t - 365: t}^{\epsilon}\right) - \mathcal{LR}^{ + } \left(\omega_{ij,t - 365: t}^{\epsilon}\right)
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250606_凸显性收益,凸显性收益,因子日历2025.pdf,165,"$$
\sigma (r_{i,s},\overline{{{{r_{s}}}}}) = \frac{r_{i,s} - \overline{{{{r_{s}}}}}}{r_{i,s} + \overline{{{{r_{s}}}}} + \theta}
$$

$$
\omega_{i,s} = \frac{\delta^{k_{i,s}}}{\sum_{S^{\prime}} \delta^{k_{i,s^{\prime}}} \times \pi_{s^{\prime}}}
$$

$$
STR_{i} = cov [ \omega_{i,s},r_{i,s} ]
$$","$$
\sigma (r_{i,s},\overline{{{{r_{s}}}}}) = \frac{| r_{i,s} - \overline{{{{r_{s}}}}} |}{| r_{i,s} | + | \overline{{{{r_{s}}}}} | + \theta}
$$

$$
\omega_{i,s} = \frac{\delta^{k_{i,s}}}{\sum_{S^{\prime}} \delta^{k_{i,s^{\prime}}} \times \pi_{s^{\prime}}}
$$

$$
STR_{i} = cov [ \omega_{i,s},r_{i,s} ]
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250609_相对强弱指标,相对强弱指标,因子日历2025.pdf,168,"$$
\frac{\sum_{r_{t} \geq 0} r_{t}}{\sum r_{t}}
$$","$$
\frac{\sum_{r_{t} \geq 0} r_{t}}{\sum | r_{t} |}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250827_平均收盘价绝对方差,平均收盘价绝对方差,因子日历2025.pdf,249,"$$
Close \_ ma_{i,t} = \frac{\sum_{t - 239}^{t} Close_{i,t}}{240}
$$

$$
Price \_ mad_{i,t} = \frac{\sum_{t - 239}^{t} Close_{i,t} - Close_{m} a_{i,t}}{240}
$$

$$
\widehat{\mathrm{Factor}}_{j} = \frac{1}{\sum_{j = 1}^{20} \frac{j}{20}} \times \sum_{i = 1}^{20} \widehat{\mathrm{Factor}}_{j,k} \times \frac{j}{20}
$$","$$
Close \_ ma_{i,t} = \frac{\sum_{t - 239}^{t} Close_{i,t}}{240}
$$

$$
Price \_ mad_{i,t} = \frac{\sum_{t - 239}^{t} | Close_{i,t} - Close_{m} a_{i,t} |}{240}
$$

$$
\widehat{\mathrm{Factor}}_{j} = \frac{1}{\sum_{j = 1}^{20} \frac{j}{20}} \times \sum_{i = 1}^{20} \widehat{\mathrm{Factor}}_{j,k} \times \frac{j}{20}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20250901_基于成交量的资金流入占比,基于成交量的资金流入占比,因子日历2025.pdf,255,"$$
flowInRatio = \frac{\sum_{i} \sum_{j} Volume_{ij} * Close_{ij} * \frac{Close_{ij} - Close_{i (j - 1)}}{Close_{ij} - Close_{i (j - 1)}}}{\sum_{i} Amount_{i,total}}
$$","$$
flowInRatio = \frac{\sum_{i} \sum_{j} Volume_{ij} * Close_{ij} * \frac{Close_{ij} - Close_{i (j - 1)}}{| Close_{ij} - Close_{i (j - 1)} |}}{\sum_{i} Amount_{i,total}}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20251004_业绩超预期,业绩超预期,因子日历2025.pdf,289,"$$
EarningSurprise = \frac{A - F}{\sigma}
$$

$$
MAD = \text{median}_{i} ( X_{i} - \text{median}_{j} (X_{j}) )
$$

$$
\widehat{\sigma} = k * MAD
$$","$$
EarningSurprise = \frac{A - F}{\sigma}
$$

$$
MAD = \text{median}_{i} (| X_{i} - \text{median}_{j} (X_{j}) |)
$$

$$
\widehat{\sigma} = k * MAD
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。
FCAL_20251025_基于持仓量的资金流入占比,基于持仓量的资金流入占比,因子日历2025.pdf,310,"$$
flowInRatio = \frac{\sum_{i} \sum_{j} (OI_{ij} - OI_{i (j - 1)}) * Close_{ij} * \frac{Close_{ij} - Close_{i (j - 1)}}{Close_{ij} - Close_{i (j - 1)}}}{(OI_{t - R} * Settle_{t - R})}
$$","$$
flowInRatio = \frac{\sum_{i} \sum_{j} (OI_{ij} - OI_{i (j - 1)}) * Close_{ij} * \frac{Close_{ij} - Close_{i (j - 1)}}{| Close_{ij} - Close_{i (j - 1)} |}}{(OI_{t - R} * Settle_{t - R})}
$$",修复旧清洗器误删竖线：已恢复历史原 OCR 中的绝对值/条件等竖线，未改变其余公式符号；这不是整条公式的人工验收。