Viscoelasticity and pattern formations in stock market indices

摘要: The viscoelastic and thermodynamic properties of four stock indices, namely, DJI, Nasdaq-100, Nasdaq-Composite, S&P were analyzed for a period 30 years from 1986 to 2015. asset values (or index) can be placed into Aristotelian ‘potentiality-actuality’ framework by using scattering diagram. Thus, the index transformed vectorial forms in diagram, each vector split its horizontal vertical components. According theory, component represents conservative, dissipative behavior. related storage loss modulus these components are determined then work-like heat-like terms calculated. It is found that change with Wiener noise (W) exhibit interesting patterns. shows featherlike pattern, whereas figurative man-like pattern. These patterns formed due branchings system imply indices do have kind ‘fine-order’ which detected when plotted respect noise. In theoretical calculations it shown tips stay at negative W values, but get closer = 0 as drift increases. shift tip point indicates price involves higher number positive corrections than Wiener. also different appearance decisional changes people reflected arrows diagram propagation path vectors resemble crack propagation. distribution angle between two subsequent peak 90°, indicating mostly obeys occurring hard objects. Entropy mimics evolution value although they describe properties. fluctuates fast increase fall value, fluctuation becomes very high minimum index. curvature circle passing ends intersection designates reactivity involved market radius behaves somehow similar entropy exhibits branches.