Quantifying the Cross-Correlations between Online Market Participation Willingness and Stock Market Dynamics
Table 9
Results of the short-term and long-term scaling exponents for Chinese stock market returns volatility.
SME-YSI
SSE50-YSI
CSI300-YSI
GME-YSI
Short
Long
Short
Long
Short
Long
Short
Long
−10
2.094
1.113
2.079
1.188
2.135
1.177
2.188
1.165
−9
2.078
1.104
2.065
1.180
2.121
1.167
2.171
1.157
−8
2.059
1.093
2.048
1.170
2.103
1.156
2.151
1.147
−7
2.034
1.081
2.026
1.159
2.080
1.142
2.124
1.136
−6
2.002
1.065
1.996
1.145
2.050
1.125
2.089
1.123
−5
1.959
1.048
1.955
1.128
2.009
1.105
2.043
1.108
−4
1.896
1.029
1.895
1.107
1.948
1.083
1.977
1.092
−3
1.800
1.013
1.802
1.083
1.853
1.059
1.875
1.076
−2
1.643
1.007
1.645
1.058
1.690
1.039
1.709
1.064
−1
1.391
1.023
1.382
1.039
1.414
1.033
1.440
1.061
0
1.090
1.048
1.038
1.030
1.063
1.039
1.115
1.060
1
0.874
1.044
0.769
0.999
0.798
1.019
0.886
1.039
2
0.746
1.009
0.627
0.945
0.652
0.972
0.758
0.997
3
0.667
0.968
0.555
0.893
0.571
0.926
0.683
0.951
4
0.616
0.932
0.514
0.850
0.522
0.888
0.635
0.911
5
0.581
0.902
0.488
0.816
0.488
0.858
0.601
0.880
6
0.555
0.878
0.469
0.789
0.464
0.835
0.576
0.855
7
0.535
0.860
0.455
0.768
0.446
0.816
0.557
0.835
8
0.519
0.845
0.444
0.751
0.431
0.801
0.542
0.820
9
0.507
0.833
0.435
0.737
0.419
0.788
0.530
0.807
10
0.497
0.823
0.427
0.726
0.409
0.778
0.520
0.797
1.597
0.290
1.652
0.462
1.726
0.399
1.668
0.368
This table reports the short-term and long-term scaling exponents between the returns volatility of four stock market indices and market participation willingness with varying from −10 to 10. is the multifractality degree. “Short” denotes and “Long” denotes .
