The global financial crisis has again brought the interdependencies of international financial markets to the fore, particularly during times of financial crises. This paper explores the relative roles of news and volatility in explaining the changes in correlations between national stock...

A comparative study is conducted between U. S. and Chinese futures markets with a particular focus on the Samuelson hypothesis of the maturity effect. We examine 44 futures markets in the U.S. and 43 futures markets in China between April 1, 1987 and June 1, 2018. Here we examine 16 matched...