From: The effect of nighttime trading of futures markets on information flows: evidence from China
Futures | Sample perioda | Mean | Std. | Skewness | Kurtosis | Eq. meanb | Eq. var.c |
---|---|---|---|---|---|---|---|
Gold | Pre-NT | 0.00006 | 0.0131 | −0.495*** | 3.948*** | 0.40 | 2.65*** |
Post-NT | −0.00014 | 0.0080 | 0.141 | 1.336*** | |||
Silver | Pre-NT | −0.00438 | 0.0196 | −1.138*** | 4.524*** | −2.19** | 2.59*** |
Post-NT | −0.00025 | 0.0122 | −0.016 | 2.487*** | |||
Copper cathode | Pre-NT | 0.00059 | 0.0159 | −0.256*** | 1.432*** | 1.65* | 2.77*** |
Post-NT | −0.00034 | 0.0095 | −0.407*** | 4.222*** | |||
Aluminum | Pre-NT | −0.00024 | 0.0097 | −0.608*** | 4.562*** | 1.30 | 3.04*** |
Post-NT | −0.00068 | 0.0056 | 0.058 | 1.078*** | |||
Zinc | Pre-NT | −0.00081 | 0.0156 | −0.409*** | 1.675*** | −1.09 | 3.49*** |
Post-NT | −0.00019 | 0.0083 | −0.343*** | 2.881*** | |||
Lead | Pre-NT | −0.00053 | 0.0090 | −0.500*** | 6.794*** | −0.50 | 1.34*** |
Post-NT | −0.00028 | 0.0078 | −0.093 | 3.540*** | |||
Steel rebar | Pre-NT | −0.00059 | 0.0087 | −0.038 | 3.798*** | 1.78* | 1.29** |
Post-NT | −0.00190 | 0.0099 | −0.195 | 1.916*** | |||
Natural rubber | Pre-NT | −0.00022 | 0.0158 | −0.276*** | 1.321*** | 0.67 | 1.09 |
Post-NT | −0.00099 | 0.0152 | 0.025 | 0.582* |