Quantifying multifractal anisotropy in two dimensional objects.

An efficient method of exploring the effects of anisotropy in the fractal properties of 2D surfaces and images is proposed. It can be viewed as a direction-sensitive generalization of the multifractal detrended fluctuation analysis into 2D. It is tested on synthetic structures to ensure its effectiveness, with results indicating consistency.

Multifractal Hopscotch in by Julio Cortázar.

Punctuation is the main factor introducing correlations in natural language written texts and it crucially impacts their overall effectiveness, expressiveness, and readability. Punctuation marks at the end of sentences are of particular importance as their distribution can determine various complexity features of written natural language. Here, the sentence length variability (SLV) time series representing by Julio Cortázar are subjected to quantitative analysis with an attempt to identify their distribution type, long-memory effects, and potential multiscale patterns.

Statistics of punctuation in experimental literature-The remarkable case of Finnegans Wake by James Joyce.

As the recent studies indicate, the structure imposed onto written texts by the presence of punctuation develops patterns which reveal certain characteristics of universality. In particular, based on a large collection of classic literary works, it has been evidenced that the distances between consecutive punctuation marks, measured in terms of the number of words, obey the discrete Weibull distribution-a discrete variant of a distribution often used in survival analysis. The present work extends the analysis of punctuation usage patterns to more experimental pieces of world literature.

Correlations versus noise in the NFT market.

The non-fungible token (NFT) market emerges as a recent trading innovation leveraging blockchain technology, mirroring the dynamics of the cryptocurrency market. The current study is based on the capitalization changes and transaction volumes across a large number of token collections on the Ethereum platform. In order to deepen the understanding of the market dynamics, the inter-collection dependencies are examined by using the multivariate formalism of detrended correlation coefficient and correlation matrix.

Characteristics of price related fluctuations in non-fungible token (NFT) market.

A non-fungible token (NFT) market is a new trading invention based on the blockchain technology, which parallels the cryptocurrency market. In the present work, we study capitalization, floor price, the number of transactions, the inter-transaction times, and the transaction volume value of a few selected popular token collections. The results show that the fluctuations of all these quantities are characterized by heavy-tailed probability distribution functions, in most cases well described by the stretched exponentials, with a trace of power-law scaling at times, long-range memory, persistence, and in several cases even the fractal organization of fluctuations, mostly restricted to the larger fluctuations, however.

Decomposing cryptocurrency high-frequency price dynamics into recurring and noisy components.

This paper investigates the temporal patterns of activity in the cryptocurrency market with a focus on Bitcoin, Ethereum, Dogecoin, and WINkLink from January 2020 to December 2022. Market activity measures-logarithmic returns, volume, and transaction number, sampled every 10 s, were divided into intraday and intraweek periods and then further decomposed into recurring and noise components via correlation matrix formalism. The key findings include the distinctive market behavior from traditional stock markets due to the nonexistence of trade opening and closing.

What Is Mature and What Is Still Emerging in the Cryptocurrency Market?

In relation to the traditional financial markets, the cryptocurrency market is a recent invention and the trading dynamics of all its components are readily recorded and stored. This fact opens up a unique opportunity to follow the multidimensional trajectory of its development since inception up to the present time. Several main characteristics commonly recognized as financial stylized facts of mature markets were quantitatively studied here.

Genuine multifractality in time series is due to temporal correlations.

Based on the mathematical arguments formulated within the multifractal detrended fluctuation analysis (MFDFA) approach it is shown that, in the uncorrelated time series from the Gaussian basin of attraction, the effects resembling multifractality asymptotically disappear for positive moments when the length of time series increases. A hint is given that this applies to the negative moments as well and extends to the Lévy stable regime of fluctuations. The related effects are also illustrated and confirmed by numerical simulations.

Cryptocurrencies Are Becoming Part of the World Global Financial Market.

In this study the cross-correlations between the cryptocurrency market represented by the two most liquid and highest-capitalized cryptocurrencies: bitcoin and ethereum, on the one side, and the instruments representing the traditional financial markets: stock indices, Forex, commodities, on the other side, are measured in the period: January 2020-October 2022. Our purpose is to address the question whether the cryptocurrency market still preserves its autonomy with respect to the traditional financial markets or it has already aligned with them in expense of its independence. We are motivated by the fact that some previous related studies gave mixed results.

Analysis of inter-transaction time fluctuations in the cryptocurrency market.

We analyze tick-by-tick data representing major cryptocurrencies traded on some different cryptocurrency trading platforms. We focus on such quantities like the inter-transaction times, the number of transactions in time unit, the traded volume, and volatility. We show that the inter-transaction times show long-range power-law autocorrelations.

Cryptocurrency Market Consolidation in 2020-2021.

Time series of price returns for 80 of the most liquid cryptocurrencies listed on Binance are investigated for the presence of detrended cross-correlations. A spectral analysis of the detrended correlation matrix and a topological analysis of the minimal spanning trees calculated based on this matrix are applied for different positions of a moving window. The cryptocurrencies become more strongly cross-correlated among themselves than they used to be before.

Financial Return Distributions: Past, Present, and COVID-19.

We analyze the price return distributions of currency exchange rates, cryptocurrencies, and contracts for differences (CFDs) representing stock indices, stock shares, and commodities. Based on recent data from the years 2017-2020, we model tails of the return distributions at different time scales by using power-law, stretched exponential, and -Gaussian functions. We focus on the fitted function parameters and how they change over the years by comparing our results with those from earlier studies and find that, on the time horizons of up to a few minutes, the so-called "inverse-cubic power-law" still constitutes an appropriate global reference.

Complexity in Economic and Social Systems.

During recent years we have witnessed a systematic progress in the understanding of complex systems, both in the case of particular systems that are classified into this group and, in general, as regards the phenomenon of complexity [...

Complexity in Economic and Social Systems: Cryptocurrency Market at around COVID-19.

Social systems are characterized by an enormous network of connections and factors that can influence the structure and dynamics of these systems. Among them the whole economical sphere of human activity seems to be the most interrelated and complex. All financial markets, including the youngest one, the cryptocurrency market, belong to this sphere.

Competition of noise and collectivity in global cryptocurrency trading: Route to a self-contained market.

Cross correlations in fluctuations of the daily exchange rates within the basket of the 100 highest-capitalization cryptocurrencies over the period October 1, 2015-March 31, 2019 are studied. The corresponding dynamics predominantly involve one leading eigenvalue of the correlation matrix, while the others largely coincide with those of Wishart random matrices. However, the magnitude of the principal eigenvalue, and thus the degree of collectivity, strongly depends on which cryptocurrency is used as a base.

Warped phase coherence: An empirical synchronization measure combining phase and amplitude information.

The entrainment between weakly coupled nonlinear oscillators, as well as between complex signals such as those representing physiological activity, is frequently assessed in terms of whether a stable relationship is detectable between the instantaneous phases extracted from the measured or simulated time-series via the analytic signal. Here, we demonstrate that adding a possibly complex constant value to this normally null-mean signal has a non-trivial warping effect. Among other consequences, this introduces a level of sensitivity to the amplitude fluctuations and average relative phase.

High-dimensional dynamics in a single-transistor oscillator containing Feynman-Sierpiński resonators: Effect of fractal depth and irregularity.

Fractal structures pervade nature and are receiving increasing engineering attention towards the realization of broadband resonators and antennas. We show that fractal resonators can support the emergence of high-dimensional chaotic dynamics even in the context of an elementary, single-transistor oscillator circuit. Sierpiński gaskets of variable depth are constructed using discrete capacitors and inductors, whose values are scaled according to a simple sequence.

Bitcoin market route to maturity? Evidence from return fluctuations, temporal correlations and multiscaling effects.

Based on 1-min price changes recorded since year 2012, the fluctuation properties of the rapidly emerging Bitcoin market are assessed over chosen sub-periods, in terms of return distributions, volatility autocorrelation, Hurst exponents, and multiscaling effects. The findings are compared to the stylized facts of mature world markets. While early trading was affected by system-specific irregularities, it is found that over the months preceding April 2018 all these statistical indicators approach the features hallmarking maturity.

Apparent remote synchronization of amplitudes: A demodulation and interference effect.

A form of "remote synchronization" was recently described, wherein amplitude fluctuations across a ring of non-identical, non-linear electronic oscillators become entrained into spatially-structured patterns. According to linear models and mutual information, synchronization and causality dip at a certain distance, then recover before eventually fading. Here, the underlying mechanism is finally elucidated through novel experiments and simulations.

Atypical transistor-based chaotic oscillators: Design, realization, and diversity.

In this paper, we show that novel autonomous chaotic oscillators based on one or two bipolar junction transistors and a limited number of passive components can be obtained via random search with suitable heuristics. Chaos is a pervasive occurrence in these circuits, particularly after manual adjustment of a variable resistor placed in series with the supply voltage source. Following this approach, 49 unique circuits generating chaotic signals when physically realized were designed, representing the largest collection of circuits of this kind to date.

Minimum spanning tree filtering of correlations for varying time scales and size of fluctuations.

Based on a recently proposed q-dependent detrended cross-correlation coefficient, ρ_{q} [J. Kwapień, P. Oświęcimka, and S.

Multifractal cross-correlation effects in two-variable time series of complex network vertex observables.

We investigate the scaling of the cross-correlations calculated for two-variable time series containing vertex properties in the context of complex networks. Time series of such observables are obtained by means of stationary, unbiased random walks. We consider three vertex properties that provide, respectively, short-, medium-, and long-range information regarding the topological role of vertices in a given network.

Detrended fluctuation analysis made flexible to detect range of cross-correlated fluctuations.

The detrended cross-correlation coefficient ρ(DCCA) has recently been proposed to quantify the strength of cross-correlations on different temporal scales in bivariate, nonstationary time series. It is based on the detrended cross-correlation and detrended fluctuation analyses (DCCA and DFA, respectively) and can be viewed as an analog of the Pearson coefficient in the case of the fluctuation analysis. The coefficient ρ(DCCA) works well in many practical situations but by construction its applicability is limited to detection of whether two signals are generally cross-correlated, without the possibility to obtain information on the amplitude of fluctuations that are responsible for those cross-correlations.

Modeling the average shortest-path length in growth of word-adjacency networks.

We investigate properties of evolving linguistic networks defined by the word-adjacency relation. Such networks belong to the category of networks with accelerated growth but their shortest-path length appears to reveal the network size dependence of different functional form than the ones known so far. We thus compare the networks created from literary texts with their artificial substitutes based on different variants of the Dorogovtsev-Mendes model and observe that none of them is able to properly simulate the novel asymptotics of the shortest-path length.

Detecting and interpreting distortions in hierarchical organization of complex time series.

Hierarchical organization is a cornerstone of complexity and multifractality constitutes its central quantifying concept. For model uniform cascades the corresponding singularity spectra are symmetric while those extracted from empirical data are often asymmetric. Using selected time series representing such diverse phenomena as price changes and intertransaction times in financial markets, sentence length variability in narrative texts, Missouri River discharge, and sunspot number variability as examples, we show that the resulting singularity spectra appear strongly asymmetric, more often left sided but in some cases also right sided.