Investor Sentiment and the Basis of CSI 300 Stock Index Futures: An Empirical Study Based on QVAR Model and Quantile Regression

Figure 1

Changes of the quantile regression coefficients of the influence factors of the basis. Note: the solid line with square dots represents the quantile regression results in the chaotic stock market, and the solid line without dots shows the quantile regression results in the steady market. The abscissa axis and the ordinate axes represent the different quantiles of the basis and the regression coefficients of various variables, respectively.