Quantifying the Cross-Correlations between Online Market Participation Willingness and Stock Market Dynamics
Table 8
Results of the short-term and long-term scaling exponents for Chinese stock market volume.
SME-YSI
SSE50-YSI
CSI300-YSI
GME-YSI
Short
Long
Short
Long
Short
Long
Short
Long
−10
0.870
0.606
0.916
0.756
0.980
0.755
0.884
0.541
−9
0.863
0.596
0.907
0.747
0.969
0.746
0.876
0.533
−8
0.855
0.585
0.898
0.736
0.955
0.736
0.868
0.523
−7
0.845
0.572
0.886
0.722
0.939
0.723
0.859
0.512
−6
0.834
0.555
0.872
0.705
0.919
0.707
0.847
0.498
−5
0.822
0.534
0.856
0.685
0.894
0.688
0.834
0.482
−4
0.808
0.507
0.838
0.659
0.868
0.664
0.818
0.461
−3
0.792
0.476
0.816
0.629
0.837
0.635
0.800
0.438
−2
0.774
0.441
0.793
0.596
0.805
0.602
0.780
0.412
−1
0.755
0.407
0.768
0.563
0.774
0.570
0.758
0.387
0
0.734
0.378
0.743
0.534
0.745
0.542
0.734
0.365
1
0.711
0.359
0.716
0.511
0.719
0.519
0.709
0.349
2
0.686
0.348
0.689
0.493
0.695
0.499
0.684
0.338
3
0.663
0.342
0.664
0.478
0.672
0.482
0.661
0.332
4
0.641
0.339
0.639
0.466
0.649
0.467
0.639
0.328
5
0.621
0.337
0.619
0.455
0.629
0.454
0.620
0.327
6
0.603
0.335
0.601
0.446
0.612
0.443
0.604
0.326
7
0.589
0.334
0.586
0.438
0.596
0.433
0.589
0.325
8
0.576
0.333
0.573
0.431
0.583
0.424
0.577
0.324
9
0.566
0.331
0.563
0.425
0.571
0.416
0.567
0.324
10
0.557
0.330
0.554
0.419
0.561
0.409
0.557
0.323
0.313
0.276
0.362
0.337
0.419
0.346
0.327
0.218
This table reports the short-term and long-term scaling exponents between the volume of four stock market indices and market participation willingness with varying from −10 to 10. is the multifractality degree. “Short” denotes and “Long” the .
