本页是 /quick-start/factor-models-in-30-min/ 的中文版本。专有名词和代码标识保持英文，以便和包 API 对齐。
A factor model organizes common sources of return and risk. In equity research, factors can describe exposures such as value, momentum, quality, size, or industry membership.
Use factor models to ask whether a signal adds distinct information, whether a portfolio has unintended exposures, and how risk is distributed.
Continue with Alpha 研究 in 30 Minutes. The deeper factor-model material will be added under 学习: Finance.