Stock prices in Tehran defy randomness, revealing long-term memory and multi-fractality.
The stock prices in Tehran Stock Exchange show patterns that are not just random. Researchers studied the stock prices of companies from 1393 to 1397 in monthly intervals. They found that stock prices have a multi-fractal nature and exhibit long-term memory. This means that past stock price information can help predict future stock prices, contradicting the idea that stock prices follow a random walk pattern.