Package W2CWM2C: description, features and applications

This article describes new graphical tools that help with the interpretation of wavelet correlation and cross-correlation analysis, in both bivariate and multivariate cases. We have created an R package called W2CWM2C with the following main functions: Wavelet (Cross) Correlation and Wavelet Multipl...

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Bibliographic Details
Authors: Polanco Martínez, Josué Moisés, Fernández Macho, Francisco Javier
Format: article
Publication Date:2014
Country:España
Institution:Universidad del País Vasco
Repository:Addi. Archivo Digital para la Docencia y la Investigación
OAI Identifier:oai:addi.ehu.eus:10810/65588
Online Access:http://hdl.handle.net/10810/65588
Access Level:Open access
Keyword:maximal overlap discrete wavelet transform
wavelet correlation
wavalet cross-correlation
wavelet multiple correlation
wavelet multiple cross-correlation
Description
Summary:This article describes new graphical tools that help with the interpretation of wavelet correlation and cross-correlation analysis, in both bivariate and multivariate cases. We have created an R package called W2CWM2C with the following main functions: Wavelet (Cross) Correlation and Wavelet Multiple (Cross) Correlation. To illustrate its strengths, we use data from several European Union stock market indices, comparing the new graphical output with the classical plots.