上海股票市场的R/S分析

he capital market is always concerned by all the people, there’re many theories and models which try to analyze the capital market. More and More practices show that the modern capital market based on the efficient market hypothesis doesn’t accord with the fact. Edgar E.Peters and his fractal market hypothesis explain many phenomena that the efficient market hypothesis can not explain. Our paper will base on the fractal market hypothesis, use the R/S analysis to analyze the Shanghai Stock Market. The results show that the Shanghai Stock Market is not a truly random walk, but follow a partial random walk.