Quantifying the Cross-Correlations between Online Market Participation Willingness and Stock Market Dynamics

Table 5

Results of the MF-DCCA scaling exponent for Chinese stock market volume.


	SME-YSI	SSE50-YSI	CSI300-YSI	GME-YSI

−10	0.859	0.909	0.968	0.878
−9	0.853	0.901	0.956	0.871
−8	0.845	0.891	0.943	0.862
−7	0.835	0.879	0.926	0.852
−6	0.824	0.865	0.907	0.841
−5	0.812	0.849	0.883	0.827
−4	0.798	0.829	0.856	0.812
−3	0.782	0.807	0.825	0.793
−2	0.764	0.783	0.792	0.772
−1	0.745	0.758	0.762	0.749
0	0.724	0.732	0.733	0.725
	0.135	0.177	0.235	0.153
1	0.701	0.705	0.707	0.700
2	0.677	0.678	0.683	0.675
3	0.653	0.653	0.659	0.652
4	0.632	0.629	0.638	0.631
5	0.612	0.608	0.619	0.612
6	0.595	0.591	0.601	0.595
7	0.581	0.576	0.585	0.581
8	0.568	0.563	0.572	0.569
9	0.558	0.553	0.561	0.559
10	0.549	0.544	0.551	0.549
	0.152	0.161	0.156	0.151

This table reports the MF-DCCA scaling exponent between the volume of four stock market indices and market participation willingness with varying from −10 to 10. The symbol denotes the degree of multifractality for the large and small fluctuations of the returns and YSI.

Complexity

Quantifying the Cross-Correlations between Online Market Participation Willingness and Stock Market Dynamics

Table 5