This paper investigates the volatility and correlations of stock returns of some crisis-hit countries such as, US … the Malaysian index with the other country indices. Secondly, given the correlations, how best can a normal investor … that the investors’ behaviour converges and correlations are significantly higher across the two Asian countries in the …

look Markovian at the level of both simple averages and 2-point correlations. And while a Markovian market has no memory to … 3-point or higher correlations to beat the market. We generalize our Markov scaling solutions presented earlier, and … serial correlations in Fama’s paper on the EMH. We end with a discussion of Levy’scharacterization of Brownian motion and …