Long memory in high frequency foreign exchange rates: Hurst exponents dependence on data aggregation
Articles
Milda Pranckevičiūtė
Vilnius University
Published 2010-12-21
https://doi.org/10.15388/LMR.2010.65
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Keywords

long memory
Hurst exponent
high frequency foreign exchange rates
data aggregation

How to Cite

Pranckevičiūtė, M. (2010) “Long memory in high frequency foreign exchange rates: Hurst exponents dependence on data aggregation”, Lietuvos matematikos rinkinys, 51(proc. LMS), pp. 357–361. doi:10.15388/LMR.2010.65.

Abstract

This paper presents the study on long memory in absolute daily returns of the US dollar versus euro, the British pound and the Japanese yen aggregated foreign exchange rates. Pointwise, maximum price, minimum price and average price aggregation rules for high frequency foreign exchange rates are introduced. The classical R/S statistic is used to analyze Hurst exponents dependence on the choice of data aggregation function.

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