A Lead-Lag Relationship and Forecast Research between China’s Crude Oil Futures and Spot Markets

<table class="table-group" id="tab1"><tr><td><table class="table"><tr><td class="thead-hr" colspan="3"><hr/></td></tr><tr class="thead"><td class="align_left"> </td><td class="align_center">With night trading</td><td class="align_center">Without night trading</td></tr><tr><td class="thead-hr" colspan="3"><hr/></td></tr><tr><td class="align_left">Trading days</td><td class="align_center">828</td><td class="align_center">62</td></tr><tr><td class="align_left">60 min obs/day</td><td class="align_center">10</td><td class="align_center">5</td></tr><tr><td class="align_left">30 min obs/day</td><td class="align_center">19</td><td class="align_center">8</td></tr><tr><td class="align_left">15 min obs/day</td><td class="align_center">37</td><td class="align_center">15</td></tr><tr class="table-tr"><td colspan="3"><hr class="tbody-hr"/></td></tr></table></td></tr></table>

<div>High-frequency observations in different periods.</div>

Complexity

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Table 1

Table 1: A Lead-Lag Relationship and Forecast Research between China’s Crude Oil Futures and Spot Markets 