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arXiv · 2504.08611

International Financial Markets Through 150 Years: Evaluating Stylized Facts

Sara A. Safari·Maximilian Janisch·Thomas Lehéricy
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Abstract

In the theory of financial markets, a stylized fact is a qualitative summary of a pattern in financial market data that is observed across multiple assets, asset classes and time horizons. In this article, we test a set of eleven stylized facts for financial market data. Our main contribution is to consider a broad range of geographical regions across Asia, continental Europe, and the US over a time period of 150 years, as well as two of the most traded cryptocurrencies, thus providing insights into the robustness and generalizability of commonly known stylized facts.

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Sara A. Safari, Maximilian Janisch, Thomas Lehéricy. 2025-04-11. International Financial Markets Through 150 Years: Evaluating Stylized Facts. https://arxiv.org/abs/2504.08611

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