Alpha Library / Point-in-time Fundamentals / fund_dividend_yield_ind_neutral
fund_dividend_yield_ind_neutral
Dividend yield TTM industry-neutral - within-industry dv_ttm (daily market data)
Themes & universe
valueequity_cn1d
Formula
\mathrm{zscore}_{x\mid\mathrm{industry}}(\mathrm{DY_{TTM}})Definition
Notes
Industry-neutralized trailing dividend yield: each name is z-scored against its Shenwan level-1 industry peers instead of the whole cross-section (sector tag from tushare index_member_all SW2021 membership, point-in-time via in_date/out_date). This removes the industry confounding that dominates raw A-share dividend yield — mature banks and utilities pay structurally high dividends while growth industries pay almost none, so a raw high-yield screen is largely an industry bet. High dividend yield relative to industry peers scores high; dv_ttm is reported in percent units and cross-sectional z-scoring is scale-invariant, so no unit conversion is applied. A name with no industry label on a date stays NaN and is excluded from that date's cross-section; an industry group with fewer than two labelled names cannot form a within-group z-score and stays NaN. Keyed by trade_date, so PIT-safe by construction with no filing lag. Membership is point-in-time but the SW2021 taxonomy itself is retroactive — a name reclassified in 2021 carries its 2021 industry back through history. Lineage: industry-neutral variant of fund_dividend_yield (#1789 follow-up).
Run it
pip install vibe-trading-ai
vibe-trading alpha show fund_dividend_yield_ind_neutral
vibe-trading alpha bench --zoo fundamental --universe csi300 --period 2020-2025