银行的金融数据分析外翻译.docVIP

Banks analysis of financial data Andreas P. Nawroth, Joachim Peinke Institut fu¨ r Physik, Carl-von-Ossietzky Universita¨ t Oldenburg, D-26111 Oldenburg, Germany Available online 30 March 2007 Abstract A stochastic analysis of financial data is presented. In particular we investigate how the statistics of log returns change with different time delays t. The scale-dependent behaviour of financial data can be divided into two regions. The first time range, the small-timescale region (in the range of seconds) seems to be characterised by universal features. The second time range, the medium-t