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This contribution addresses the question commonly asked in scientific literature about the sources of multifractality in time series. Two primary sources are typically considered. These are temporal correlations and heavy tails in the…

Data Analysis, Statistics and Probability · Physics 2025-01-16 Robert Kluszczyński , Stanisław Drożdż , Jarosław Kwapień , Tomasz Stanisz , Marcin Wątorek

Multifractality in time series analysis characterizes the presence of multiple scaling exponents, indicating heterogeneous temporal structures and complex dynamical behaviors beyond simple monofractal models. In the context of digital…

Statistical Finance · Quantitative Finance 2025-10-16 Stanisław Drożdż , Robert Kluszczyński , Jarosław Kwapień , Marcin Wątorek

Based on the mathematical arguments formulated within the Multifractal Detrended Fluctuation Analysis (MFDFA) approach it is shown that in the uncorrelated time series from the Gaussian basin of attraction the effects resembling…

Data Analysis, Statistics and Probability · Physics 2023-03-30 Jarosław Kwapień , Pawel Blasiak , Stanisław Drożdż , Paweł Oświęcimka

Web sites where users create and rate content as well as form networks with other users display long-tailed distributions in many aspects of behavior. Using behavior on one such community site, Essembly, we propose and evaluate plausible…

Computers and Society · Computer Science 2015-05-13 Tad Hogg , Gabor Szabo

User activity fluctuations reflect the performance of online society. We investigate the statistical properties of 1-min user activity time series of simultaneously online users inhabited in 95 independent virtual worlds. The number of…

Physics and Society · Physics 2019-02-19 Yan-Hong Yang , Wen-Jie Xie , Ming-Xia Li , Zhi-Qiang Jiang , Wei-Xing Zhou

Social, technological and economic time series are divided by events which are usually assumed to be random albeit with some hierarchical structure. It is well known that the interevent statistics observed in these contexts differs from the…

Trading and Market Microstructure · Quantitative Finance 2008-12-02 J. Perello , J. Masoliver , A. Kasprzak , R. Kutner

We analyzed multifractal properties of 5-minute stock returns from a period of over two years for 100 highly capitalized American companies. The two sources: fat-tailed probability distributions and nonlinear temporal correlations, vitally…

Other Condensed Matter · Physics 2009-11-10 J. Kwapien , P. Oswiecimka , S. Drozdz

Many dynamical processes on real world networks display complex temporal patterns as, for instance, a fat-tailed distribution of inter-events times, leading to heterogeneous waiting times between events. In this work, we focus on…

Physics and Society · Physics 2016-05-25 Sarah De Nigris , Anthony Hastir , Renaud Lambiotte

Fractal behavior and long-range dependence have been observed in tele-traffic measurement and characterization. In this paper we show results of application of the fractal analysis to internet traffic via various methods. Our result…

Computational Physics · Physics 2007-05-23 K. B. Chong , K. Y. Choo

Long-range correlation in financial time series reflects the complex dynamics of the stock markets driven by algorithms and human decisions. Our analysis exploits ultra-high frequency order book data from NASDAQ Nordic over a period of…

Trading and Market Microstructure · Quantitative Finance 2017-11-10 Martin Magris , Jiyeong Kim , Esa Rasanen , Juho Kanniainen

We analyze quantitatively the effect of spurious multifractality induced by the presence of fat-tailed symmetric and asymmetric probability distributions of fluctuations in time series. In the presented approach different kinds of symmetric…

Computational Finance · Quantitative Finance 2018-05-31 Rafal Rak , Dariusz Grech

We perform a systematic investigation on the components of the empirical multifractality of financial returns using the daily data of Dow Jones Industrial Average from 26 May 1896 to 27 April 2007 as an example. The temporal structure and…

Statistical Finance · Quantitative Finance 2009-12-24 Wei-Xing Zhou

Inhomogeneous temporal processes, like those appearing in human communications, neuron spike trains, and seismic signals, consist of high-activity bursty intervals alternating with long low-activity periods. In recent studies such bursty…

Physics and Society · Physics 2011-12-01 Márton Karsai , Kimmo Kaski , Albert-László Barabási , János Kertész

We show that it can be considered some of Bach pitches series as a stochastic process with scaling behavior. Using multifractal deterend fluctuation analysis (MF-DFA) method, frequency series of Bach pitches have been analyzed. In this view…

Data Analysis, Statistics and Probability · Physics 2009-11-13 G. R. Jafari , P. Pedram , L. Hedayatifar

We analyse tick-by-tick data representing major cryptocurrencies traded on some different cryptocurrency trading platforms. We focus on such quantities like the inter-transaction times, the number of transactions in time unit, the traded…

Statistical Finance · Quantitative Finance 2022-09-05 Jarosław Kwapień , Marcin Wątorek , Marija Bezbradica , Martin Crane , Tai Tan Mai , Stanisław Drożdż

The study of human dynamics has attracted much interest from many fields recently. In this paper, the fractal characteristic of human behaviors is investigated from the perspective of time series constructed with the amount of library…

Physics and Society · Physics 2015-05-20 Chao Fan , Jin-Li Guo , Yi-Long Zha

The earth's ionosphere is well recognized as a dynamical system and non-linearly coupled with the magnetosphere above and natural atmosphere below.The shape and time variability of the ionosphere indeed shows chaos, pattern formation,…

Earth and Planetary Astrophysics · Physics 2013-12-13 H. J. Tanna , K. N. Pathak

Based on the Multifractal Detrended Fluctuation Analysis (MFDFA) and on the Wavelet Transform Modulus Maxima (WTMM) methods we investigate the origin of multifractality in the time series. Series fluctuating according to a qGaussian…

Data Analysis, Statistics and Probability · Physics 2015-05-13 Stanislaw Drozdz , Jaroslaw Kwapien , Pawel Oswiecimka , Rafal Rak

Many financial variables are found to exhibit multifractal nature, which is usually attributed to the influence of temporal correlations and fat-tailedness in the probability distribution (PDF). Based on the partition function approach of…

Statistical Finance · Quantitative Finance 2012-01-13 Wei-Xing Zhou

The rapid development of Internet technology enables human explore the web and record the traces of online activities. From the analysis of these large-scale data sets (i.e. traces), we can get insights about dynamic behavior of human…

Physics and Society · Physics 2013-03-12 Zhi-Dan Zhao , Shi-Min Cai , Junming Huang , Yan Fu , Tao Zhou
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