{"id":7984,"date":"2025-12-16T11:36:59","date_gmt":"2025-12-16T03:36:59","guid":{"rendered":"https:\/\/www.kpai1.cn\/?p=7984"},"modified":"2025-12-16T11:37:04","modified_gmt":"2025-12-16T03:37:04","slug":"%e6%9d%a0%e6%9d%86%e4%ba%a4%e6%98%93%e7%9a%84%e9%a3%8e%e9%99%a9%e6%9c%ac%e8%b4%a8%e4%b8%8e%e8%b5%84%e6%9c%ac%e8%84%86%e5%bc%b1%e6%80%a7","status":"publish","type":"post","link":"https:\/\/www.kpai1.cn\/ja\/\u30a2\u30fc\u30ab\u30a4\u30d6\/7984","title":{"rendered":"\u30ec\u30d0\u30ec\u30c3\u30b8\u53d6\u5f15\u306e\u30ea\u30b9\u30af\u306e\u6027\u8cea\u3068\u8cc7\u672c\u306e\u8106\u5f31\u6027"},"content":{"rendered":"

\u5dee\u984d\u5951\u7d04\uff08CFD\uff09\u3084\u5916\u56fd\u70ba\u66ff\u8a3c\u62e0\u91d1\u306a\u3069\u306e\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u6d3b\u7528\u3057\u305f\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u306e\u666e\u53ca\u306b\u3088\u308a\u3001\u500b\u4eba\u6295\u8cc7\u5bb6\u306f\u5c11\u984d\u306e\u8cc7\u91d1\u3067\u4e16\u754c\u7684\u306a\u8cc7\u7523\u4fa1\u683c\u306e\u5909\u52d5\u306b\u53c2\u52a0\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u305f\u3060\u3057\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u306f\u5229\u76ca\u306e\u53ef\u80fd\u6027\u3092\u62e1\u5927\u3059\u308b\u4e00\u65b9\u3067\u3001\u30ea\u30b9\u30af\u306e\u6027\u8cea\u3082\u5927\u304d\u304f\u5909\u5316\u3055\u305b\u307e\u3059\u3002\u640d\u5931\u306e\u898f\u6a21\u304c\u5897\u5927\u3059\u308b\u3060\u3051\u3067\u306a\u304f\u975e\u7dda\u5f62\u30ea\u30b9\u30af<\/strong>\u3084\u7d4c\u8def\u4f9d\u5b58\u52b9\u679c<\/strong>\u3082\u5c0e\u5165\u3055\u308c\u3001\u53d6\u5f15\u7d50\u679c\u306f\u9577\u671f\u7684\u306a\u65b9\u5411\u6027\u306e\u5224\u65ad\u3067\u306f\u306a\u304f\u3001\u77ed\u671f\u7684\u306a\u4fa1\u683c\u8ecc\u8de1\u306b\u975e\u5e38\u306b\u654f\u611f\u306b\u306a\u308a\u307e\u3059\u3002\u3053\u306e\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u306f\u3001\u5408\u7406\u7684\u306b\u53c2\u52a0\u3059\u308b\u305f\u3081\u306e\u524d\u63d0\u6761\u4ef6\u3067\u3059\u3002<\/p>\n

1. \u30ec\u30d0\u30ec\u30c3\u30b8\u306f\u300c\u7121\u6599\u5897\u5e45\u5668\u300d\u3067\u306f\u306a\u304f\u3001\u30ea\u30b9\u30af\u518d\u4fa1\u683c\u8a2d\u5b9a\u30c4\u30fc\u30eb\u3067\u3059\u3002<\/p>\n

\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u6d3b\u7528\u306f\u3001\u8cc7\u672c\u69cb\u9020\u8ad6\u306e\u89b3\u70b9\u304b\u3089\u306f\u3001\u81ea\u5df1\u8cc7\u672c\u306b\u300c\u8ca0\u50b5\u306b\u3088\u308b\u8cc7\u91d1\u8abf\u9054\u300d\u3092\u91cd\u306d\u5408\u308f\u305b\u308b\u3053\u3068\u306b\u76f8\u5f53\u3057\u307e\u3059\u3002\u30e2\u30c7\u30a3\u30ea\u30a2\u30fc\u30cb\u30fb\u30df\u30e9\u30fc\u306e\u5b9a\u7406\uff08\u975e\u8ab2\u7a0e\u6761\u4ef6\u4e0b\uff09\u306b\u3088\u308c\u3070\u3001\u4f01\u696d\u4fa1\u5024\u306f\u8cc7\u672c\u69cb\u6210\u3068\u306f\u4f55\u306e\u95a2\u4fc2\u3082\u3042\u308a\u307e\u305b\u3093\u3002\u3057\u304b\u3057\u3001\u7834\u7523\u30b3\u30b9\u30c8\u3068\u60c5\u5831\u306e\u975e\u5bfe\u79f0\u6027\u304c\u3042\u308b\u73fe\u5b9f\u306e\u5e02\u5834\u3067\u306f\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u9ad8\u3044\u3068\u8ca1\u52d9\u4e0a\u306e\u8106\u5f31\u6027\u304c\u5927\u5e45\u306b\u5897\u52a0<\/strong>\u3057\u307e\u3059\u3002\u3053\u306e\u30ed\u30b8\u30c3\u30af\u306f\u500b\u4eba\u306e\u53d6\u5f15\u53e3\u5ea7\u306b\u3082\u5f53\u3066\u306f\u307e\u308a\u307e\u3059\u3002<\/p>\n

\u30e6\u30fc\u30b6\u30fc\u304c 1:30 \u30ec\u30d0\u30ec\u30c3\u30b8\u3067\u30ed\u30f3\u30b0\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u4fdd\u6301\u3057\u3066\u3044\u308b\u5834\u5408\u3001\u5b9f\u969b\u306e\u30ea\u30b9\u30af\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u306f\u5143\u672c\u306e 30 \u500d\u306b\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u306f\u539f\u8cc7\u7523\u304c\u5143\u672c\u5168\u4f53\u3092\u4fb5\u98df\u3059\u308b\u306b\u306f\u7d043.3% \u306e\u9006\u5909\u52d5\u3060\u3051\u304c\u5fc5\u8981<\/strong>\u3067\u3042\u308b\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002\u3055\u3089\u306b\u91cd\u8981\u306a\u3053\u3068\u306f\u3001\u5f37\u5236\u6e05\u7b97\u30e1\u30ab\u30cb\u30ba\u30e0\u306e\u5b58\u5728\u306b\u3088\u308a\u3001\u640d\u5931\u306f\u76f4\u7dda\u7684\u306b\u7d2f\u7a4d\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u8a3c\u62e0\u91d1\u306e\u3057\u304d\u3044\u5024\u306b\u9054\u3059\u308b\u3068\u5373\u5ea7\u306b\u30bc\u30ed\u306b\u623b\u308a\u3001\u5178\u578b\u7684\u306a\u300c\u30c6\u30fc\u30eb\u30ea\u30b9\u30af\u300d\u306e\u7279\u5fb4\u3092\u5f62\u6210\u3059\u308b\u3053\u3068\u3067\u3059\u3002<\/p>\n

2. \u7d4c\u8def\u4f9d\u5b58\u6027: \u300c\u6b63\u3057\u3044\u65b9\u5411\u3078\u306e\u65b9\u5411\u6027\u300d\u304c\u4f9d\u7136\u3068\u3057\u3066\u6e05\u7b97\u3092\u5f15\u304d\u8d77\u3053\u3059\u7406\u7531<\/p>\n

\u5f93\u6765\u306e\u6295\u8cc7\u3067\u306f\u3001\u5224\u65ad\u304c\u6b63\u3057\u304b\u3063\u305f\u3068\u3057\u3066\u3082\u77ed\u671f\u7684\u306a\u30ea\u30c8\u30ec\u30fc\u30b9\u30e1\u30f3\u30c8\u304c\u767a\u751f\u3057\u305f\u5834\u5408\u3001\u5e73\u5747\u304c\u623b\u308b\u307e\u3067\u4fdd\u6709\u3059\u308b\u3053\u3068\u3067\u640d\u5931\u3092\u4fee\u5fa9\u3067\u304d\u307e\u3059\u3002\u3057\u304b\u3057\u3001 \u30ec\u30d0\u30ec\u30c3\u30b8\u53d6\u5f15\u3067\u306f\u6700\u7d42\u7d50\u679c\u306f\u4fa1\u683c\u5b9f\u73fe\u7d4c\u8def\u306b\u5927\u304d\u304f\u4f9d\u5b58<\/strong>\u3057\u307e\u3059\uff08\u7d4c\u8def\u4f9d\u5b58\u6027\uff09\u3002\u9577\u671f\u30c8\u30ec\u30f3\u30c9\u304c\u4e88\u60f3\u901a\u308a\u306b\u63a8\u79fb\u3057\u305f\u5834\u5408\u3067\u3082\u3001\u5909\u52d5\u304c\u6fc0\u3057\u3044\u5834\u5408\u3084\u6d41\u52d5\u6027\u304c\u67af\u6e07\u3057\u305f\u5834\u5408\u306b\u306f\u3001\u30c8\u30ec\u30f3\u30c9\u304c\u5b9f\u73fe\u3059\u308b\u524d\u306b\u53e3\u5ea7\u304c\u6e05\u7b97\u3055\u308c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u305f\u3068\u3048\u3070\u30012020\u5e74\u306e\u539f\u6cb9\u4fa1\u683c\u30de\u30a4\u30ca\u30b9\u30a4\u30d9\u30f3\u30c8\u3067\u306f\u3001\u4fa1\u683c\u304c\u4e00\u6642\u7684\u306b0\u3092\u4e0b\u56de\u3063\u305f\u5f8c\u3001WTI\u3092\u30ed\u30f3\u30b0\u3057\u3066\u3044\u305f\u591a\u304f\u306e\u8a3c\u62e0\u91d1\u53e3\u5ea7\u304c\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u9589\u3058\u308b\u3053\u3068\u3092\u4f59\u5100\u306a\u304f\u3055\u308c\u307e\u3057\u305f\u3002\u4fa1\u683c\u306f\u6570\u65e5\u5f8c\u306b\u3059\u3050\u306b\u30d7\u30e9\u30b9\u306e\u5024\u306b\u56de\u5fa9\u3057\u307e\u3057\u305f\u304c\u3001\u30e6\u30fc\u30b6\u30fc\u306f\u305d\u306e\u5f8c\u306e\u56de\u5fa9\u306b\u53c2\u52a0\u3067\u304d\u307e\u305b\u3093\u3067\u3057\u305f\u3002\u3053\u308c\u306f\u3001 \u30ec\u30d0\u30ec\u30c3\u30b8\u53d6\u5f15\u306e\u6838\u5fc3\u7684\u306a\u30d1\u30e9\u30c9\u30c3\u30af\u30b9\u3092\u660e\u3089\u304b\u306b\u3057\u307e\u3059\u3002\u305d\u308c\u306f\u52dd\u7387\u3068\u640d\u76ca\u7387\u306b\u52a0\u3048\u3066\u3001 \u751f\u5b58\u6642\u9593\u304c\u72ec\u7acb\u3057\u305f\u30ea\u30b9\u30af\u306e\u6b21\u5143\u3068\u306a\u308b<\/strong>\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n

\"\u653f\u5e9c\u519b\u4e8b\u56fd\u9632\u6280\u672f\u62bd\u8c61\u80cc\u666f\uff0c\u5e26\u6709\u7f8e\u5143\u949e\u7968\u5377\u7684\u76f4\u5347\u673a\uff0c\u73b0\u4ee3\u519b\u4e8b\u884c\u52a8\u6210\u672c\u6982\u5ff5\"<\/p>\n

3. \u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306e\u30b9\u30de\u30a4\u30eb\u3068\u30c6\u30fc\u30eb\u30ea\u30b9\u30af\u306e\u4fa1\u683c\u8a2d\u5b9a\u306e\u5931\u6557<\/p>\n

\u30aa\u30d7\u30b7\u30e7\u30f3\u5e02\u5834\u3067\u306f\u3001\u300c\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3 \u30b9\u30de\u30a4\u30eb\u300d\u73fe\u8c61\u306f\u3001\u6975\u7aef\u306a\u30c9\u30ed\u30fc\u30c0\u30a6\u30f3 (\u5de6\u5074\u306e\u30c6\u30fc\u30eb) \u306b\u5bfe\u3059\u308b\u5e02\u5834\u306e\u6697\u9ed9\u306e\u30ea\u30b9\u30af \u30d7\u30ec\u30df\u30a2\u30e0\u304c\u30e2\u30c7\u30eb\u306e\u4eee\u5b9a\u3088\u308a\u3082\u306f\u308b\u304b\u306b\u9ad8\u3044\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001 \u307b\u3068\u3093\u3069\u306e\u5c0f\u58f2\u30ec\u30d0\u30ec\u30c3\u30b8\u5546\u54c1\u306f\u30c6\u30fc\u30eb\u30ea\u30b9\u30af\u306e\u4fa1\u683c\u3092\u660e\u793a\u7684\u306b\u8a2d\u5b9a\u3057\u3066\u3044\u306a\u3044<\/strong>\u305f\u3081\u3001\u30b9\u30d7\u30ec\u30c3\u30c9\u3084\u624b\u6570\u6599\u306f\u901a\u5e38\u306e\u5e02\u5834\u72b6\u6cc1\u3067\u306f\u5b89\u304f\u898b\u3048\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u304c\u3001\u30d6\u30e9\u30c3\u30af\u30b9\u30ef\u30f3\u30a4\u30d9\u30f3\u30c8\u6642\u306b\u306f\u30b9\u30ea\u30c3\u30da\u30fc\u30b8\u3001\u9045\u5ef6\u3001\u6d41\u52d5\u6027\u306e\u6b20\u5982\u306a\u3069\u306e\u96a0\u308c\u305f\u30b3\u30b9\u30c8\u304c\u6025\u6fc0\u306b\u4e0a\u6607\u3057\u3001\u5b9f\u969b\u306e\u53d6\u5f15\u30b3\u30b9\u30c8\u304c\u4e88\u60f3\u3092\u306f\u308b\u304b\u306b\u4e0a\u56de\u308a\u307e\u3059\u3002<\/p>\n

\u3055\u3089\u306b\u6182\u616e\u3059\u3079\u304d\u306f\u6b74\u53f2\u7684\u306a\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3067\u306f\u5c06\u6765\u306e\u6975\u7aef\u306a\u51fa\u6765\u4e8b\u3092\u5b8c\u5168\u306b\u306f\u4e88\u6e2c\u3067\u304d\u306a\u3044<\/strong>\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002 GARCH \u306a\u3069\u306e\u30e2\u30c7\u30eb\u306f\u3001\u30af\u30e9\u30b9\u30bf\u30fc\u5316\u3057\u305f\u5909\u52d5\u3092\u6349\u3048\u308b\u306e\u306f\u5f97\u610f\u3067\u3059\u304c\u3001\u69cb\u9020\u7684\u306a\u7834\u7dbb (\u5730\u653f\u5b66\u7684\u7d1b\u4e89\u3084\u653f\u7b56\u5909\u66f4\u306a\u3069) \u3092\u8b66\u544a\u3059\u308b\u306e\u306f\u56f0\u96e3\u3067\u3059\u3002\u30e6\u30fc\u30b6\u30fc\u304c\u300c\u904e\u53bb\u306e\u6700\u5927\u30c9\u30ed\u30fc\u30c0\u30a6\u30f3\u300d\u306b\u57fa\u3065\u3044\u3066\u30b9\u30c8\u30c3\u30d7\u30ed\u30b9\u3092\u8a2d\u5b9a\u3059\u308b\u3068\u3001\u5b9f\u969b\u306e\u30ea\u30b9\u30af\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u904e\u5c0f\u8a55\u4fa1\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n

4. \u884c\u52d5\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u8996\u70b9: \u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u30ea\u30b9\u30af\u8a8d\u8b58\u3092\u3069\u306e\u3088\u3046\u306b\u6b6a\u3081\u308b\u304b<\/p>\n

\u5fc3\u7406\u5b66\u306e\u7814\u7a76\u306f\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u4eba\u9593\u306e\u30ea\u30b9\u30af\u5224\u65ad\u3092\u7d44\u7e54\u7684\u306b\u6b6a\u3081\u308b\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u7cbe\u795e\u7684\u306a\u30a2\u30ab\u30a6\u30f3\u30c8\u306e\u9694\u96e2<\/strong>: \u300c\u8a3c\u62e0\u91d1\u300d\u3092\u300c\u5931\u3046\u53ef\u80fd\u6027\u306e\u3042\u308b\u5c11\u984d\u306e\u304a\u91d1\u300d\u3068\u3057\u3066\u6271\u3044\u3001\u305d\u308c\u304c\u8868\u3059\u3059\u3079\u3066\u306e\u8cc7\u672c\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u7121\u8996\u3057\u307e\u3059\u3002 \u30ae\u30e3\u30f3\u30d6\u30e9\u30fc\u306e\u8aa4\u8b2c\u306e\u5f37\u5316<\/strong>: \u9023\u7d9a\u3057\u305f\u5c0f\u3055\u306a\u52dd\u5229\u306e\u5f8c\u3067\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3092\u904e\u5927\u8a55\u4fa1\u3057\u3001\u5f90\u3005\u306b\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u5897\u3084\u3057\u3001\u6700\u7d42\u7684\u306b\u306f\u5927\u304d\u306a\u640d\u5931\u306b\u3088\u308a\u5168\u4f53\u306e\u5229\u76ca\u304c\u9006\u8ee2\u3057\u307e\u3059\u3002 \u5373\u6642\u30d5\u30a3\u30fc\u30c9\u30d0\u30c3\u30af\u306e\u597d\u307f<\/strong>: \u30ec\u30d0\u30ec\u30c3\u30b8\u306b\u3088\u3063\u3066\u3082\u305f\u3089\u3055\u308c\u308b\u8fc5\u901f\u306a\u5229\u76ca\u3068\u640d\u5931\u306e\u30d5\u30a3\u30fc\u30c9\u30d0\u30c3\u30af\u306f\u3001\u8133\u306e\u5831\u916c\u56de\u8def\u3092\u6d3b\u6027\u5316\u3057\u3001\u9ad8\u983b\u5ea6\u306e\u53d6\u5f15\u3092\u4fc3\u3057\u3001\u640d\u5931\u3092\u60aa\u5316\u3055\u305b\u307e\u3059\u3002<\/p>\n

Odean (1998) \u306b\u3088\u3063\u3066\u63d0\u6848\u3055\u308c\u305f\u300c\u51e6\u5206\u52b9\u679c\u300d\u306f\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u74b0\u5883\u3067\u7279\u306b\u9855\u8457\u3067\u3059\u3002\u30e6\u30fc\u30b6\u30fc\u306f\u5229\u76ca\u306e\u3042\u308b\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u65e9\u3081\u306b\u58f2\u5374\u3059\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u640d\u5931\u306e\u5b9f\u73fe\u3092\u907f\u3051\u308b\u305f\u3081\u306b\u640d\u5931\u4e2d\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u9577\u671f\u9593\u4fdd\u6301\u3059\u308b\u50be\u5411\u304c\u3042\u308a\u3001\u30ea\u30b9\u30af\u5206\u6563\u304c\u3055\u3089\u306b\u60aa\u5316\u3057\u307e\u3059\u3002<\/p>\n

\u7d50\u8ad6: \u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u672c\u8cea\u306f\u6642\u9593\u3068\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306e\u30ab\u30a6\u30f3\u30bf\u30fc\u30d1\u30fc\u30c6\u30a3\u3067\u3059<\/p>\n

\u30ec\u30d0\u30ec\u30c3\u30b8\u53d6\u5f15\u3092\u5229\u7528\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001 \u57fa\u672c\u7684\u306b\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3068\u6642\u9593\u306e\u5b89\u5b9a\u6027\u3092\u77ed\u304f\u3059\u308b\u3053\u3068<\/strong>\u3067\u3059\u3002\u5e02\u5834\u304c\u5b89\u5b9a\u3057\u3066\u3044\u308b\u9650\u308a\u3001\u30e6\u30fc\u30b6\u30fc\u306f\u300c\u4e00\u5b9a\u306e\u300d\u30ea\u30bf\u30fc\u30f3\u3092\u5f97\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u304c\u6025\u4e0a\u6607\u307e\u305f\u306f\u6025\u4e0a\u6607\u3059\u308b\u3068\u3001\u640d\u5931\u306f\u4e0d\u91e3\u308a\u5408\u3044\u306b\u62e1\u5927\u3057\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u6301\u7d9a\u53ef\u80fd\u306a\u53c2\u52a0\u306e\u9375\u306f\u3001\u65b9\u5411\u6027\u3092\u4e88\u6e2c\u3059\u308b\u3053\u3068\u3067\u306f\u306a\u304f\u3001\u6b21\u306e\u70b9\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u300c\u30ea\u30b9\u30af\u58f2\u308a\u624b\u300d\u3068\u3057\u3066\u306e\u81ea\u5206\u306e\u7acb\u5834\u3092\u8a8d\u8b58\u3057\u3066\u304f\u3060\u3055\u3044\u3002\u5358\u4e00\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u3092\u53b3\u3057\u304f\u5236\u9650\u3057\u3001\u8907\u6570\u56de\u306e\u8a66\u884c\u932f\u8aa4\u306b\u5099\u3048\u3066\u8cc7\u672c\u3092\u4fdd\u6301\u3057\u307e\u3059\u3002 \u300c\u307b\u3068\u3093\u3069\u53d6\u5f15\u3092\u3057\u306a\u3044\u300d\u3053\u3068\u304c\u6a19\u6e96\u3067\u3042\u308b\u3053\u3068\u3092\u53d7\u3051\u5165\u308c\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n

Wmax \u306f\u5e38\u306b\u3001\u30ea\u30b9\u30af\u751f\u6210\u306e\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u306f\u30ea\u30bf\u30fc\u30f3\u3092\u8ffd\u6c42\u3059\u308b\u3053\u3068\u3088\u308a\u3082\u57fa\u672c\u3067\u3042\u308b<\/strong>\u3068\u5f37\u8abf\u3057\u3066\u304d\u307e\u3057\u305f\u3002\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u8106\u5f31\u6027\u3092\u5c0a\u91cd\u3059\u308b\u3053\u3068\u306b\u3088\u3063\u3066\u306e\u307f\u3001\u5c0f\u58f2\u30c8\u30ec\u30fc\u30c0\u30fc\u306f\u8907\u96d1\u306a\u5e02\u5834\u3067\u771f\u306e\u8db3\u5834\u3092\u7bc9\u304f\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>","protected":false},"excerpt":{"rendered":"

\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u6d3b\u7528\u3057\u305f\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u306f\u3001\u975e\u7dda\u5f62\u30ea\u30b9\u30af\u3092\u5c0e\u5165\u3057\u306a\u304c\u3089\u30ea\u30bf\u30fc\u30f3\u3092\u5897\u5e45\u3057\u307e\u3059\u3002\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u30ea\u30b9\u30af\u306e\u518d\u4fa1\u683c\u8a2d\u5b9a\u3001\u7d4c\u8def\u4f9d\u5b58\u52b9\u679c\u3001\u30c6\u30fc\u30eb\u30ea\u30b9\u30af\u306e\u5931\u6557\u3001\u304a\u3088\u3073\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u884c\u52d5\u30d0\u30a4\u30a2\u30b9\u306e\u6b6a\u307f\u306e\u6027\u8cea\u3092\u5206\u6790\u3057\u307e\u3059\u3002\u500b\u4eba\u30c8\u30ec\u30fc\u30c0\u30fc\u306f\u81ea\u3089\u306e\u8106\u5f31\u6027\u3092\u8a8d\u8b58\u3057\u3001\u30ea\u30b9\u30af\u7ba1\u7406\u306b\u57fa\u3065\u3044\u3066\u6301\u7d9a\u53ef\u80fd\u306a\u53d6\u5f15\u3092\u5b9f\u73fe\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>","protected":false},"author":1,"featured_media":7985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[122],"tags":[323,156,322],"class_list":["post-7984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tutorial","tag-323","tag-156","tag-322"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/posts\/7984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/comments?post=7984"}],"version-history":[{"count":1,"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/posts\/7984\/revisions"}],"predecessor-version":[{"id":7987,"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/posts\/7984\/revisions\/7987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/media\/7985"}],"wp:attachment":[{"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/media?parent=7984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/categories?post=7984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kpai1.cn\/ja\/wp-json\/wp\/v2\/tags?post=7984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}