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Mixed fractional Brownian motion, short and long term Dependence and economic conditions: the case of the S&P 500 Index

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Figure

Figure 1: The Raw S&P-500 Index, 2011- 1950, showing Huge Fluctuations between 1999 and 2011.
Figure 2: A magnified view of the first difference of the S&P-500 Index rotated clockwise 180o about the x-axis and counter-clockwise 180o about the y axis
Figure 3: The third difference time profile of the S&P-500 from 2011 to 1950. The biggest spike occurred at 5891 or October 1987.
Table 1: The Multi-fractality of the S&P-500 Index from 1950-2011. The market alternates between anti-persistence and persis-tence

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