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 .

Complexity

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

Table 9