The price discovery mechanism of CERs futures market and spot market is analyzed by applying vector error correction model and common factor model,and the results are validated through applying impulse response function and variance decomposition.

In this paper, we establish the factor analysis model for 19 observation variables which reflect the tertiary level , construct 4 representative common factors according to the principle that use the least factors to depict the expected quantities of information and take the variance contribution as the scale, give a reasonable name interpretation by use of the rotation of load factor matrix.

The paper puts rhe yield of portfolios to express as the function of latent common factors.

0),the paper extracts 3 common factors to show the main factors which affect these stocks.

According to SPSS, the paper extracts 3 common factors to show the main factors which affect these stocks, and it also adopts the method of factor score to measure the financial status of these stocks.

This thesis adopts factor analysis model to turn many variables into fewer common factors.

At the same time,the expected return factor model,jointly constructed by size,price and turnover,can predict the stock realized returns.

We utilize the factor model to disuss .

In this paper,best predicted methods of unknown true value for the measurement error models in a variety of conditions have been studied,and also predicted methods of factor models have been discussed.

Analyze evaporation model present conditions our country,point out the important problems of using evaporation model now;pass to expand model factor and to improve model construction,put forward a new evaporation model.