“…The variations in the two deviations were often used to determine the regime transformation (Salehi-Nik et al, 2009;van Ommen et al, 2004;Sobrino et al, 2008), while it was unsuccessful for the DCC in present work. As a result, higherorder moments, skewness (third moment) and kurtosis (fourth moment) were given for insight into DCC.…”