Universality in the stock exchange

Rui Gonçalves; Alberto Pinto

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arXiv · 0810.2508

Universality in the stock exchange

Rui Gonçalves·Alberto Pinto

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Abstract

We analyze the constituents stocks of the Dow Jones Industrial Average (DJIA30) and the Standard & Poor's 100 index (S&P100) of the NYSE stock exchange market. Surprisingly, we discover the data collapse of the histograms of the DJIA30 price fluctuations and of the S&P100 price fluctuations to the universal non-parametric Bramwell-Holdsworth-Pinton (BHP) distribution. Since the BHP probability density function appears in several other dissimilar phenomena, our result reveals an universal feature of the stock exchange market.

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Rui Gonçalves, Alberto Pinto. 2009-03-13. Universality in the stock exchange. https://arxiv.org/abs/0810.2508

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