美国论文怎么写:有效的市场理论
美国论文怎么写:有效的市场理论
这是一个可以用来测试效率的弱形式的证据的主要方法。如果股票价格收益率序列相关然后投资者可以与过去的信息有助于预测股票价格的未来路径，这可以违背有效市场假说的弱形式。股票价格可以表现为正的序列相关或具有负序列相关。使用串行关联交易可以是一种技术分析的投资者以预测股票价格的运动。
不同的研究者已经做了研究，拿出不同的结论。一项研究在1953年的肯德尔也被罗伯茨在1959年提出，他们没有找到任何序列相关的股票存在。它们涵盖了范围广泛的股票市场。
然而，在另一项研究的研究员罗与另一个研究公司做的，他们发现，在纽约交易所上市的股票价格存在正的序列相关。他们在股票价格的周收益发现这正的序列相关。然而，序列相关计算的金额没有提供交易机会的机会。
美国论文怎么写:有效的市场理论
This is one of the most methods which can be used for testing the evidence of the weak form of efficiency. If the returns of the stock price are serially correlated then the investor can predict the future stock price path with the help of the past information and this can be a violation to the weak form of efficient market hypothesis. The stock price returns can exhibit either positive serial correlation or can exhibit negative serial correlation. Using serial correlation to trade can be a form of technical analysis which the investor uses to predict the stock price movement.
Different researchers have done their research on this and come out with different conclusions. A study done by Kendall in the year 1953 and also by Roberts in the year 1959 suggested that they did not find any serial correlation which existed in the stocks. They covered a wide range of stock markets.
However, in another study done by researcher Lo with another researcher Mackinlay, they found that there exists positive serial correlation in the prices of the stocks listed on the New York Exchange. They found this positive serial correlation in the weekly returns for the stock prices. However the amount of serial correlation calculated by them did not offer much chance of the trading opportunities.
