Shocks or random processes which shaped the pattern of historical colatilities and the impact of which continues even after the arbitrary demarcation between HV and FV are now perhaps reflected more clearly in the latter variable than is th...Shocks or random processes which shaped the pattern of historical colatilities and the impact of which continues even after the arbitrary demarcation between HV and FV are now perhaps reflected more clearly in the latter variable than is the case when the acutally realised volatilities are calculated using more futures price.展开
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