Exploring Contrarian Degree in the Trading Behavior of China's Stock Market

<figure class="figure-group responsive"><div class="sub-figure" id="a"><object data="https://static-preview.hindawi.com/articles/complexity/volume-2019/1678086/figures/1678086.fig.003a.svgz" name="1678086.fig.003a" type="image/svg+xml"></object><div class="fig-label">(a) Daily return</div></div><div class="sub-figure" id="b"><object data="https://static-preview.hindawi.com/articles/complexity/volume-2019/1678086/figures/1678086.fig.003b.svgz" name="1678086.fig.003b" type="image/svg+xml"></object><div class="fig-label">(b) Price</div></div></figure>

<p>The best simulation and the real stock data sequence. The red curve is the real data and the blue one is the simulated sequence of CSI300 Index from Jan <svg height="11.221pt" id="M144" style="vertical-align:-0.04979992pt" version="1.1" viewbox="-0.0498162 -11.1712 13.6752 11.221" width="13.6752pt" xmlns="http://www.w3.org/2000/svg"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M384 0V27C293 34 287 42 287 114V635C232 613 172 594 109 583V559L157 557C201 555 205 550 205 499V114C205 42 199 34 109 27V0H384Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,6.24,-5.741)"><path d="M357 391C357 416 325 451 270 451C241 451 179 431 146 400C109 365 97 334 97 307C97 248 143 213 196 180C250 146 261 123 261 101C261 75 237 40 190 40C153 40 110 72 86 109C81 116 68 119 55 112C37 102 24 87 24 66C24 30 85 -12 137 -12C229 -12 331 62 331 140C331 189 304 218 236 260C197 284 164 309 164 346C164 381 194 400 220 400C259 400 282 380 304 350C310 342 321 339 330 344C347 353 357 372 357 391Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,9.872,-5.741)"><path d="M329 433H203L239 587L230 596L147 534L123 433H57L30 395L34 388H115L61 129C37 16 59 -12 85 -12C147 -12 222 58 260 98L241 125C212 95 160 62 144 62C132 62 127 71 138 126L192 386L305 394L329 433Z"></path></g></svg> 2004 to Jun <svg height="12.4646pt" id="M145" style="vertical-align:-0.2063999pt" version="1.1" viewbox="-0.0498162 -12.2582 21.1899 12.4646" width="21.1899pt" xmlns="http://www.w3.org/2000/svg"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M285 378C315 398 338 416 353 432C373 451 384 474 384 503C384 579 325 635 236 635H235C182 635 136 610 108 579L65 516L85 496C110 533 150 575 205 575C258 575 300 543 300 481C300 407 232 369 141 339L147 310C163 315 188 321 211 321C268 321 338 284 338 192C338 94 288 40 217 40C160 40 119 68 93 91C85 98 77 97 69 91C60 84 47 71 46 58C44 46 48 35 62 22C75 10 116 -12 162 -12C234 -12 424 62 424 224C424 297 373 359 285 376V378Z"></path></g><g transform="matrix(.013,0,0,-0.013,6.24,0)"><path d="M241 635C89 635 35 457 35 312C35 153 89 -12 240 -12C390 -12 443 166 443 312C443 466 390 635 241 635ZM238 602C329 602 354 454 354 312C354 172 330 22 240 22C152 22 124 173 124 313S148 602 238 602Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,12.48,-5.741)"><path d="M329 433H203L239 587L230 596L147 534L123 433H57L30 395L34 388H115L61 129C37 16 59 -12 85 -12C147 -12 222 58 260 98L241 125C212 95 160 62 144 62C132 62 127 71 138 126L192 386L305 394L329 433Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,15.72,-5.741)"><path d="M509 90L493 118C465 91 427 70 418 70S409 77 415 103L469 327C494 429 466 451 436 451C412 451 387 444 356 427C307 400 222 342 160 264H158L246 667C253 701 252 710 243 710C228 710 169 680 87 673L83 644H117C155 644 160 640 149 588L24 -4L32 -12C57 -4 86 4 108 9L143 187C198 275 324 386 375 386C394 386 399 367 385 311L331 87C315 22 322 -12 351 -12C387 -12 452 24 509 90Z"></path></g></svg> 2017. Panels (a) and (b), respectively, show the daily return and price simulations, and the starting point of the price is set to be 1.</p>

Complexity

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Figure 3

Figure 3: Exploring Contrarian Degree in the Trading Behavior of China's Stock Market 