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    Analysis of Investment Returns as Markov Chain Random Walk by Felix Okoe Mettle, Emmanuel Kojo Aidoo, Carlos Oko Narku Dowuona, Louis Agyekum

    Published 2024-01-01
    “…To this effect, a Markov chain random walk model was successfully developed and implemented on 450 monthly market returns data spanning from January 1976 to December 2020 for Canada, India, Mexico, South Africa, and Switzerland obtained from the Federal Reserves of the Bank of St. Louis. The limiting state probabilities and six-month moving crush probabilities were estimated for each country, and these were used to assess the performance of the markets. …”
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