Refined Composite Multivariate Multiscale Fractional Fuzzy Entropy: Measuring the Dynamical Complexity of Multichannel Financial Data

Figure 4

Complexity analyses for three-channel stock indices in different regions: (a) mvMFE; (b) RCmvMFE; (c) RCmvMFFE vs. scale for fixed ; (d) RCmvMFFE vs. for fixed scale = 20. At a fixed scale of around 25, the entropy values of the Asia and Pacific stock market index and the American stock market index are the same. This may be because they include two emerging market indices. Therefore, we can also see from figure 4 that the stock market index of Asia and Pacific has a downward trend.

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