Table 1: Statistical description of conditional volatility with different maturities disturbed from futures market ( ).

Conditional volatilityMean Standard deviationMaximum Minimum

2.33892.571024.32760.4901
2.28512.506324.17360.4827
2.20672.425523.85140.4679
2.02282.135919.48690.4219
2.04862.135219.13700.4211