Standing on the new viewpoint of fractionalintegration, KPSS test and LW test can find long memory of return and its volatility in Chinese stock market.
从分整特性的新视角，利用KPSS检验和LW检验对我国股市收益及其波动的记忆性特征进行了深入研究。
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Then we go on with the correlation between multi-variable: fractional co-integration and co-persistence in variance, and discuss their modeling method.