Is the Long Memory Factor Important for Extending the Fama and French Five-Factor Model: Evidence from China

Table 5

Percent of presence in the models of each factor for 10,000 random portfolios of 30 stocks.

Factor	MKT	SMB	HML	RMW	CMA	MOM	Hurst
	0.990253	0.50288	0.393886	0.682322	0.100576	0.473638	0.40895
	0.99359	0.516026	0.409341	0.689103	0.091117	0.462454	0.391026