未來的研究可以進一步探討技術分析在不同市場環境下的關聯性，並衍生含括其他因素對超額報酬的影響。為投資大眾和市場參與者提供有數據基礎的決策資訊。 ;This article examines whether technical analysis can achieve excess returns in China′s ETF market. By selecting ETF targets and trading strategies, a comprehensive data analysis and comparison is collated. Based on the research literature on the effec-tiveness of technical analysis, the current situation of ETF market in China is further illustrated to further illustrate the advantages and limitations of the application of tech-nical analysis in investment decision-making. To achieve our research objectives, we selected three different trading strategies and six representative ETFs. By collecting transaction data and processing it into transaction signals, we can analyze the perfor-mance of the final transaction result after entering and exiting the market. In the data analysis, cross-comparison methods such as end-of-period reward, interval maximum reward, maximum drawdown and number of transactions were used to study the corre-lation between technical analysis and excess reward. The results show that technical analysis has a certain correlation in the Chinese ETF market. For example, the data re-sponse is affected by the market environment or unexpected events, and the correlation between risk tolerance and profit margin. This study provides support to the investing public and market traders in developing trading strategies. Future research could further explore the correlation of technical analysis in different markets and derive the impact of other factors on excess returns. Provide data-based decision-making information for the investing public and market participants.
