Month effect research of Shanghai A-share based on balanced influence

This paper presents the full sample Cumulative- Voting Model and Time Series Clustering Analysis Model based on the concept of balanced influence, which regulates individual stock´s impact on the month effect analysis of return rates on share prices. The balanced models avoid misleading and information coverage caused by the significant fluctuations of return rate of stock at a certain time. The models show that the month effect exists in Shanghai A-share market and higher rates of return on share price have been made in February, January and November. The result of this paper can be considered for decision making of investors.