empirical evidence clearly shows that, for all of the REIT returns, the overall variance of the transitory component is …

's market seem low, though speculators can use the sizable transitory component of market fluctuation to engage in arbitrage … the Shanghai and Shenzhen Stock Exchanges. Although the response to outside innovations is greater within the transitory … component, it is short-lived; conversely, though there is a high level of persistence in the trend, new information has only a …