Level crossing analysis of the stock markets

Abstract

We investigate the average frequency of positive slope $\\nu_{\\alpha}^{+}$,\ncrossing for the returns of market prices.\n The method is based on stochastic processes which no scaling feature is\nexplicitly required. Using this method we define new quantity to quantify stage\nof development and activity of stocks exchange. We compare the Tehran and\nwestern stock markets and show that some stocks such as Tehran (TEPIX) and New\nZealand (NZX) stocks exchange are emerge, and also TEPIX is a non-active market\nand financially motivated to absorb capital.\n