Previous studies have investigated the comovements of international equity returns by using mean correlations, cointegration, common factor analysis, and other approaches. This paper investigates the evolution of the affinity among major euro and non-euro area stock markets in the period...

The motivation for this paper arises from an article written by Peña et al. [40] in 2010,where they propose the eigenvectors associated with the extreme values of a kurtosismatrix as interesting directions to reveal the possible cluster structure of a dataset. In recent years many research...

The comparison and classification of time series is an important issue in practical time series analysis. For these purposes, various methods have been proposed in the literature, but all have shortcomings, especially when the observed time series have different sample sizes. In this paper, we...