Table 7 Comparison results of using volatile 1-year index data

S &P500-1step

0.97294

0.95881

0.92854

1.00000

S &P500-5steps

0.96590

0.94457

0.77060

1.00000

S &P500-30steps

0.34357

0.34561

0.30115

1.00000

NASDAQ-1step

0.71380

0.70589

0.77753

1.00000

NASDAQ-5steps

0.29332

0.27007

0.36428

1.00000

NASDAQ-30steps

0.01223

0.00618*

0.00696

1.00000

NYSE-1step

0.55741

0.55548

0.54598

1.00000

NYSE-5steps

0.08994

0.07666*

0.07798

1.00000

NYSE-30steps

1.36E−05

9.06E−06*

6.57E−06

1.00000

Smallcap-1step

0.58170

0.57392

0.57773

1.00000

Smallcap-5steps

0.10270

0.10135

0.09628

1.00000

Smallcap-30steps

7.00E−05

4.33E−05*

3.65E−05

1.00000

BSE-1step

0.39493

0.37991

0.39851

1.00000

BSE-5steps

0.03320

0.02829*

0.04170

1.00000

BSE-30steps

2.45E−05

2.19E−05*

1.73E−05

1.00000

DAX-1step

0.65372

0.65663

0.66097

1.00000

DAX-5steps

0.10997

0.10828

0.11085

1.00000

DAX-30steps

4.97E−05

4.87E−05

7.81E−05

1.00000

USDX future-1step

1.14621

1.00926*

1.03693

1.00000

USDX future-5steps

0.61075

0.53834*

0.51997

1.00000

USDX future-30steps

0.10723

0.09911

0.10063

1.00000

Bovespa-1step

0.60031

0.57316

0.60656

1.00000

Bovespa-5steps

0.08603

0.06201*

0.09395

1.00000

Bovespa-30steps

6.87E−06

2.82E−06*

3.19E−06

1.00000

Djones-1step

0.56357

0.55020

0.54422

1.00000

Djones-5steps

0.09810

0.08239*

0.08698

1.00000

Djones-30steps

4.32E−05

2.22E−05*

2.65E−05

1.00000

BIST-1step

0.94794

0.95313

0.92418

1.00000

BIST-5steps

0.48460

0.49098

0.49279

1.00000

BIST-30steps

0.05478

0.05980

0.05671

1.00000