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- Title
Analyzing the Association between Pattern and Returns Using Goodman–Kruskal Prediction Error Reduction Index (λ).
- Authors
Paul, Parmod Kumar; Mahela, Om Prakash; Khan, Baseem
- Abstract
For selecting and interpreting appropriate behaviour of proportion between buy/neutral/sell patterns and high/moderate/low returns, the prediction error reduction index is a very useful tool. It is operationally interpretable in terms of the proportional reduction in error of estimation. We first obtain the buy/sell pattern using an Optimal Band. The analysis of the association between patterns and returns is based on the Goodman–Kruskal prediction error reduction index (λ). Empirical analysis suggests that the prediction of returns from patterns is more impressive or of less error as compared to the prediction of patterns from returns. We demonstrated the prediction index for Index NIFTY 50, BANK-NIFTY, and NIFTY-IT of NSE (National Stock Exchange), for the period 2010–2020.
- Subjects
NATIONAL Stock Exchange of India Ltd.; FORECASTING; STOCK exchanges
- Publication
Complexity, 2022, p1
- ISSN
1076-2787
- Publication type
Article
- DOI
10.1155/2022/8196436