This paper examines the high frequency multiscale relationships and nonlinear multiscale causality between Bitcoin,Ethereum,Monero,Dash,Ripple,and Litecoin.We apply nonlinear Granger causality and rolling window wavel...This paper examines the high frequency multiscale relationships and nonlinear multiscale causality between Bitcoin,Ethereum,Monero,Dash,Ripple,and Litecoin.We apply nonlinear Granger causality and rolling window wavelet correlation(RWCC)to 15 min-data.Empirical RWCC results indicate mostly positive co-movements and long-term memory between the cryptocurrencies,especially between Bitcoin,Ethereum,and Monero.The nonlinear Granger causality tests reveal dual causation between most of the cryptocurrency pairs.We advance evidence to improve portfolio risk assessment,and hedging strategies.展开更多
This study was conducted on the spatial distribution characteristics of surface tidal currents in the southwestern Taiwan Strait based on the quasi-harmonic analysis of current data obtained by two high frequency surf...This study was conducted on the spatial distribution characteristics of surface tidal currents in the southwestern Taiwan Strait based on the quasi-harmonic analysis of current data obtained by two high frequency surface wave radar(HFSWR) systems. The analysis shows that the tidal current pattern in the southwestern Taiwan Strait is primarily semi-diurnal and influenced significantly by shallow water constituents. The spatial distribution of tidal current ellipses of M2 is probably affected by the interaction between two different systems of tide wave, one from the northern mouth of Taiwan Strait and the other from the Bashi Channel. The directions of the major axes of M2 tidal current ellipses coincide roughly with the axis of the Taiwan Strait. The spatial distribution of the magnitudes of the probable maximum current velocity(PMCS) shows gradual increase of the velocity from northeast to southwest, which is in accordance with the spatial distribution of the measured maximum current velocity(MMCS). The directions of the residual currents are in accordance with the direction of the prevailing monsoon wind at the Taiwan Strait and the direction of the Taiwan warm current during summer. The bathymetry also shows a significant effect on the spatial distribution characteristics of tidal currents.展开更多
文摘This paper examines the high frequency multiscale relationships and nonlinear multiscale causality between Bitcoin,Ethereum,Monero,Dash,Ripple,and Litecoin.We apply nonlinear Granger causality and rolling window wavelet correlation(RWCC)to 15 min-data.Empirical RWCC results indicate mostly positive co-movements and long-term memory between the cryptocurrencies,especially between Bitcoin,Ethereum,and Monero.The nonlinear Granger causality tests reveal dual causation between most of the cryptocurrency pairs.We advance evidence to improve portfolio risk assessment,and hedging strategies.
基金supported by the National High Technology Research and Development Program (‘863’ Program) of China under contract No. 2012AA091701the Fundamental Research Fund for the Central University of China under the contract No. 2012212020211
文摘This study was conducted on the spatial distribution characteristics of surface tidal currents in the southwestern Taiwan Strait based on the quasi-harmonic analysis of current data obtained by two high frequency surface wave radar(HFSWR) systems. The analysis shows that the tidal current pattern in the southwestern Taiwan Strait is primarily semi-diurnal and influenced significantly by shallow water constituents. The spatial distribution of tidal current ellipses of M2 is probably affected by the interaction between two different systems of tide wave, one from the northern mouth of Taiwan Strait and the other from the Bashi Channel. The directions of the major axes of M2 tidal current ellipses coincide roughly with the axis of the Taiwan Strait. The spatial distribution of the magnitudes of the probable maximum current velocity(PMCS) shows gradual increase of the velocity from northeast to southwest, which is in accordance with the spatial distribution of the measured maximum current velocity(MMCS). The directions of the residual currents are in accordance with the direction of the prevailing monsoon wind at the Taiwan Strait and the direction of the Taiwan warm current during summer. The bathymetry also shows a significant effect on the spatial distribution characteristics of tidal currents.
