Effects of Exponential Trends on Correlations of Stock Markets

Table 2

The values of correlation exponents 𝛾 when Δ𝑡=1.

	𝛾−DFA1	𝛾−DFA2	𝛾−DFA3	𝛾−DFA4	𝛾−DFA5
NYSE	0.3696	0.4743	0.5169	0.5598	0.5862
HSI	0.3343	0.4167	0.4608	0.4959	0.5068