Study On Characteristic Of American Stock Market And Compare With China Stock Market

As the impact of the financial crisis,the global macroeconomic recovery,the rapid development of capital markets,how to invest in the stock market effectively?the research of the global financial heart-the U.S.stock market,and comparing with the Chinese stock market,has important guiding significance to our country stock market investment.In this paper,from view of the characteristics of the three major stock index with survival analysis methods.This article embarks from the successive to rise and fall of the three major U.S.stock index and sustained yield to analyze the rise and fall of the U.S.stock market.For the successive to rise and fall days,we mainly use the three major functions of the survival model:survival function and probability density function,and hazard function.For sustained yield,we conducted the Gamma distribution fitting,the result shows that the three major stock indexes better obey the Gamma distribution,at the same time,we continue to yield the mean standard deviation of the mean and standard deviation of theory and experience were compared,found that difference between small and in the acceptable range,it shows that the distribution of Gamma fitting is basic and effective.On the basis of the Gamma distribution,we have three major U.S.stock indexes continued to yield interval probability and conditional probability was calculated.Through the comparison of the unconditional probability and conditional probability found that rate of return on its history will have impact on the future.It shows that analysis technology in the U.S.stock market is effective.Finally,we analyzed the volume,the influence of changes in average p/e ratio and sustained yield,found that the two factors of volume and linear relationship of sustained yield showed positive correlation,while the average p/e ratio present a negative linear relationship.correlation coefficient is concluded by empirical analysis.the article also calculated the continuous fixed volume when yields of unconditional probability and conditional probability.Analysis of the United States and Chinese stock market is advantages to the Chinese investors to use global vision to more rational investment in Chinese stock market effectively.