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递归图能将随机的或混沌的或周期的序列变化特征可视化,递归定量分析是将递归图的定性分析结果定量化。选用我国股票市场的深证成分指数序列,运用递归图和递归定量分析对全样本的指数序列的非线性特征进行识别,再利用检验内生结构突变断点的方法对股票市场发展阶段进行切分,分阶段探讨股票市场的非线性特征。结果表明,递归图与递归定量分析方法能很好的解释我国股票市场的非线性特征,从而为进一步揭示股票市场产生波动的内在机理,给投资者决策提供了参考依据。
Recursive graphs can visualize random or chaotic or periodic sequence variation characteristics. Recursive quantitative analysis quantifies the qualitative analysis of recursive graphs. This paper chooses the sequence of the Shenzheng component index of China’s stock market, uses the recursive graph and the recursive quantitative analysis to identify the non-linear characteristics of the exponential sequence of the whole sample, and then cuts the stage of the stock market with the method of testing the breakpoint of the endogenous structure , Discussing the non-linear characteristics of the stock market in stages. The results show that the recursive graph and the recursive quantitative analysis method can well explain the nonlinear characteristics of the stock market in our country and provide a reference for investors to further reveal the inherent mechanism of the stock market volatility.