Which return regime induces overconfidence behavior? Artificial intelligence and a nonlinear approach

Financial Innovation

Table 1 Descriptive statistics

	Daily trading volume (TO) (Million USD)	Daily return (R)
Mean	1377	0.0001
Median	1350	0.0006
Maximum	3249	0.0581
Minimum	220	− 0.0841
Std. Dev	407.51	0.0135
Skewness	0.5112	− 0.6448
Kurtosis	3.7216	6.6438
Jarque–Bera	88.0513	818.0164
Probability	0	0
Total	1858.700	0.227519
Number of obs	1349	1314