Analysis of Chinese Stock Market by Using the Method of Visibility Graph
Fuyu Liu1, NIingkui Wang1, Daijun Wei1, 2, 3, *
1 School of Science, Hubei University for Nationalities, Enshi, Hubei, 445000, China
2 School of Economics and Management, Hubei University for Nationalities, Enshi, 445000, China
3 Department of Civil and Environmental Engineering, Vanderbilt University, Nashville, TN 37235, USA
Abstract
Many researchers studied the complexity of financial markets based on complex networks methods. The conversion of financial markets into complex networks is an open issue. In this paper, the data of 2571 stock companies in 2012 and the data of 2578 stock companies in 2013 are collected from Chinese stock market. Every year, data of these stock companies are randomly arranged. These data are then converted into some complex networks based on the visibility graph method. For these complex networks, degree distribution and clustering coefficient are considered. Our results show that the complex networks have the power-law distribution and small-world properties. The Pareto principle is also testified by the rank of average degree of companies in Chinese stock.
Keywords: Visibility graph, Complex network, Chinese stock market, Clustering coefficient.
Article Information
Article History:
Received Date: 25/05/2016
Revision Received Date: 18/08/2016
Acceptance Date: 27/09/2016
Electronic publication date: 28/02/2017
Collection year: 2017
© 2017 Liu et al.
open-access license: This is an open access article distributed under the terms of the Creative Commons Attribution 4.0 International Public License (CC-BY 4.0), a copy of which is available at:
https://creativecommons.org/licenses/by/4.0/legalcode. This license permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
* Address correspondence to this author at the School of Science, Hubei University for Nationalities, Enshi, Hubei, 445000, China; Tel: +8613517170418; E-mails: prof.wei@hotmail.com, eswdj@163.com
Open Peer Review Details |
Manuscript submitted on 25-05-2016 |
Original Manuscript |
Analysis of Chinese Stock Market by Using the Method of Visibility Graph |