Quantifying origin and character of long-range correlations in narrative texts

On the inner dynamics between Fossil fuels and the carbon market: a combination of seasonal-trend decomposition and multifractal cross-correlation analysis

“…The conventional econometric methodologies that are frequently employed in literature on carbon prices mostly examine the connection between these markets in a linear perspective. Multifractality is central to the science of complexity and it finds applications in almost all essential areas of scientific activity, including physics (Muzy et al 2008;Subramaniam et al 2008), chemistry Meakin 1988, Udovichenko andStrizhak 2002), biology (Makowiec et al 2009;Rosas et al 2002), hydrology (Telesca et al 2005), environment (Farjah 2019;Sipra et al 2021), linguistics (Drożdż et al 2016), Physiology (Nagy et al 2017), psychology (Kelty-Stephen 2017Stephen et al 2012), behavioral sciences (Ihlen and Vereijken 2013), agriculture (Kim et al 2011, McKenzie andHolt 2002), economics (Drożdż et al 2010), finance (Delbianco et al 2016, Zou andZhang 2020), and even music (Jafari et al 2007). Additionally, using conventional linear analysis techniques to study the financial markets is not reliable and robust.…”