Financial Innovation

Table 4 BDS test results of return and trading volume

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

Return (R)
	[0.0067]	[0.0135]	[0.0202]	[0.027]
Standard normal
2	3.3432	3.8973	4.0242	4.007
3	5.2167	5.4117	5.252	5.112
P value
2	8.00E−04	1.00E−04	1.00E−04	1.00E−04
3	0.00E+00	0.00E+00	0.00E+00	0.00E+00

Trading volume (TO)
	[0.1146]	[0.2292]	[0.3438]	[0.4584]
Standard normal
2	6.0773	6.4588	7.2268	7.6168
3	7.2815	7.6552	8.1736	8.4619
P value
2	0	0	0	0
3	0	0	0	0

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