{"bundle_type":"pith_open_graph_bundle","bundle_version":"1.0","pith_number":"pith:2012:VS5RDYZEOEYPZKMIYMLYKGQW73","short_pith_number":"pith:VS5RDYZE","canonical_record":{"source":{"id":"1201.1535","kind":"arxiv","version":2},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2012-01-07T08:35:29Z","cross_cats_sorted":[],"title_canon_sha256":"df8fe4bc7c2bc248dfcb833225d0dc04134833ee918a8e407cdb512790b2dc4c","abstract_canon_sha256":"9a38c887db99ff38fc41d12c61563b82108dcd5571130d384de22d514010d734"},"schema_version":"1.0"},"canonical_sha256":"acbb11e3247130fca988c317851a16fecee3fef232b565a4168e8efabc064afe","source":{"kind":"arxiv","id":"1201.1535","version":2},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1201.1535","created_at":"2026-05-18T03:55:01Z"},{"alias_kind":"arxiv_version","alias_value":"1201.1535v2","created_at":"2026-05-18T03:55:01Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1201.1535","created_at":"2026-05-18T03:55:01Z"},{"alias_kind":"pith_short_12","alias_value":"VS5RDYZEOEYP","created_at":"2026-05-18T12:27:25Z"},{"alias_kind":"pith_short_16","alias_value":"VS5RDYZEOEYPZKMI","created_at":"2026-05-18T12:27:25Z"},{"alias_kind":"pith_short_8","alias_value":"VS5RDYZE","created_at":"2026-05-18T12:27:25Z"}],"events":[{"event_type":"record_created","subject_pith_number":"pith:2012:VS5RDYZEOEYPZKMIYMLYKGQW73","target":"record","payload":{"canonical_record":{"source":{"id":"1201.1535","kind":"arxiv","version":2},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2012-01-07T08:35:29Z","cross_cats_sorted":[],"title_canon_sha256":"df8fe4bc7c2bc248dfcb833225d0dc04134833ee918a8e407cdb512790b2dc4c","abstract_canon_sha256":"9a38c887db99ff38fc41d12c61563b82108dcd5571130d384de22d514010d734"},"schema_version":"1.0"},"canonical_sha256":"acbb11e3247130fca988c317851a16fecee3fef232b565a4168e8efabc064afe","receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-05-18T03:55:01.558128Z","signature_b64":"rlnbYsd49MA9TqUB1y/sKB//PwZ/KeeYGvuJINDEme/etkItjkPGsBilMrqv+43yKgdfXkrphP22ibsJY3fSCg==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"acbb11e3247130fca988c317851a16fecee3fef232b565a4168e8efabc064afe","last_reissued_at":"2026-05-18T03:55:01.557602Z","signature_status":"signed_v1","first_computed_at":"2026-05-18T03:55:01.557602Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"source_kind":"arxiv","source_id":"1201.1535","source_version":2,"attestation_state":"computed"},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-18T03:55:01Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"uIaI6uFFBraMqW4jR0tREX4B3/cIOZfbfQCpLHYn5cWqx9i+zuaSrWhsRaFTXlUgcrZaGeYYBQVpfKSxp1QTCg==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-05-31T23:07:11.191898Z"},"content_sha256":"a0bc27a91f360bb7559891c44516a36e92c88714308eba130b8d1903fe353d4c","schema_version":"1.0","event_id":"sha256:a0bc27a91f360bb7559891c44516a36e92c88714308eba130b8d1903fe353d4c"},{"event_type":"graph_snapshot","subject_pith_number":"pith:2012:VS5RDYZEOEYPZKMIYMLYKGQW73","target":"graph","payload":{"graph_snapshot":{"paper":{"title":"Understanding the source of multifractality in financial markets","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":[],"primary_cat":"q-fin.ST","authors_text":"Jozef Barunik, Ruipeng Liu, Tiziana Di Matteo, Tomaso Aste","submitted_at":"2012-01-07T08:35:29Z","abstract_excerpt":"In this paper, we use the generalized Hurst exponent approach to study the multi- scaling behavior of different financial time series. We show that this approach is robust and powerful in detecting different types of multiscaling. We observe a puzzling phenomenon where an apparent increase in multifractality is measured in time series generated from shuffled returns, where all time-correlations are destroyed, while the return distributions are conserved. This effect is robust and it is reproduced in several real financial data including stock market indices, exchange rates and interest rates. "},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1201.1535","kind":"arxiv","version":2},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"verdict_id":null},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-18T03:55:01Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"q9LrgPVxVeUgKYdruPlO90sH+KLktyj4bnjeF6BIVsLcCZyqchcYO0F7ibTEVLElrpsxM7WNWAD6PBYo2Y9uCw==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-05-31T23:07:11.192964Z"},"content_sha256":"157856c434a5804b591acf32f58d6ffab0398b7ce35f852c5081ff8b89efea4a","schema_version":"1.0","event_id":"sha256:157856c434a5804b591acf32f58d6ffab0398b7ce35f852c5081ff8b89efea4a"}],"timestamp_proofs":[],"mirror_hints":[{"mirror_type":"https","name":"Pith Resolver","base_url":"https://pith.science","bundle_url":"https://pith.science/pith/VS5RDYZEOEYPZKMIYMLYKGQW73/bundle.json","state_url":"https://pith.science/pith/VS5RDYZEOEYPZKMIYMLYKGQW73/state.json","well_known_bundle_url":"https://pith.science/.well-known/pith/VS5RDYZEOEYPZKMIYMLYKGQW73/bundle.json","status":"primary"}],"public_keys":[{"key_id":"pith-v1-2026-05","algorithm":"ed25519","format":"raw","public_key_b64":"stVStoiQhXFxp4s2pdzPNoqVNBMojDU/fJ2db5S3CbM=","public_key_hex":"b2d552b68890857171a78b36a5dccf368a953413288c353f7c9d9d6f94b709b3","fingerprint_sha256_b32_first128bits":"RVFV5Z2OI2J3ZUO7ERDEBCYNKS","fingerprint_sha256_hex":"8d4b5ee74e4693bcd1df2446408b0d54","rotates_at":null,"url":"https://pith.science/pith-signing-key.json","notes":"Pith uses this Ed25519 key to sign canonical record SHA-256 digests. Verify with: ed25519_verify(public_key, message=canonical_sha256_bytes, signature=base64decode(signature_b64))."}],"merge_version":"pith-open-graph-merge-v1","built_at":"2026-05-31T23:07:11Z","links":{"resolver":"https://pith.science/pith/VS5RDYZEOEYPZKMIYMLYKGQW73","bundle":"https://pith.science/pith/VS5RDYZEOEYPZKMIYMLYKGQW73/bundle.json","state":"https://pith.science/pith/VS5RDYZEOEYPZKMIYMLYKGQW73/state.json","well_known_bundle":"https://pith.science/.well-known/pith/VS5RDYZEOEYPZKMIYMLYKGQW73/bundle.json"},"state":{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2012:VS5RDYZEOEYPZKMIYMLYKGQW73","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"9a38c887db99ff38fc41d12c61563b82108dcd5571130d384de22d514010d734","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2012-01-07T08:35:29Z","title_canon_sha256":"df8fe4bc7c2bc248dfcb833225d0dc04134833ee918a8e407cdb512790b2dc4c"},"schema_version":"1.0","source":{"id":"1201.1535","kind":"arxiv","version":2}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1201.1535","created_at":"2026-05-18T03:55:01Z"},{"alias_kind":"arxiv_version","alias_value":"1201.1535v2","created_at":"2026-05-18T03:55:01Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1201.1535","created_at":"2026-05-18T03:55:01Z"},{"alias_kind":"pith_short_12","alias_value":"VS5RDYZEOEYP","created_at":"2026-05-18T12:27:25Z"},{"alias_kind":"pith_short_16","alias_value":"VS5RDYZEOEYPZKMI","created_at":"2026-05-18T12:27:25Z"},{"alias_kind":"pith_short_8","alias_value":"VS5RDYZE","created_at":"2026-05-18T12:27:25Z"}],"graph_snapshots":[{"event_id":"sha256:157856c434a5804b591acf32f58d6ffab0398b7ce35f852c5081ff8b89efea4a","target":"graph","created_at":"2026-05-18T03:55:01Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"paper":{"abstract_excerpt":"In this paper, we use the generalized Hurst exponent approach to study the multi- scaling behavior of different financial time series. We show that this approach is robust and powerful in detecting different types of multiscaling. We observe a puzzling phenomenon where an apparent increase in multifractality is measured in time series generated from shuffled returns, where all time-correlations are destroyed, while the return distributions are conserved. This effect is robust and it is reproduced in several real financial data including stock market indices, exchange rates and interest rates. ","authors_text":"Jozef Barunik, Ruipeng Liu, Tiziana Di Matteo, Tomaso Aste","cross_cats":[],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2012-01-07T08:35:29Z","title":"Understanding the source of multifractality in financial markets"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1201.1535","kind":"arxiv","version":2},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:a0bc27a91f360bb7559891c44516a36e92c88714308eba130b8d1903fe353d4c","target":"record","created_at":"2026-05-18T03:55:01Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"9a38c887db99ff38fc41d12c61563b82108dcd5571130d384de22d514010d734","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2012-01-07T08:35:29Z","title_canon_sha256":"df8fe4bc7c2bc248dfcb833225d0dc04134833ee918a8e407cdb512790b2dc4c"},"schema_version":"1.0","source":{"id":"1201.1535","kind":"arxiv","version":2}},"canonical_sha256":"acbb11e3247130fca988c317851a16fecee3fef232b565a4168e8efabc064afe","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"acbb11e3247130fca988c317851a16fecee3fef232b565a4168e8efabc064afe","first_computed_at":"2026-05-18T03:55:01.557602Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T03:55:01.557602Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"rlnbYsd49MA9TqUB1y/sKB//PwZ/KeeYGvuJINDEme/etkItjkPGsBilMrqv+43yKgdfXkrphP22ibsJY3fSCg==","signature_status":"signed_v1","signed_at":"2026-05-18T03:55:01.558128Z","signed_message":"canonical_sha256_bytes"},"source_id":"1201.1535","source_kind":"arxiv","source_version":2}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:a0bc27a91f360bb7559891c44516a36e92c88714308eba130b8d1903fe353d4c","sha256:157856c434a5804b591acf32f58d6ffab0398b7ce35f852c5081ff8b89efea4a"],"state_sha256":"25fab45f454f64ebfb9a86cc2e05dbd0dd110a49d92c9e561db09b7ff9018d48"},"bundle_signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"B7kosvcVEo7HYj3OtjJ5ZcXYN4dBATLMlJ/MUqx3XLLawHDK6979Vo2NSVi7IoERqet53ZTCKNT7OPG/Xhq0Cw==","signed_message":"bundle_sha256_bytes","signed_at":"2026-05-31T23:07:11.198532Z","bundle_sha256":"4a100508f080f087883fd10b4a8dbd35abf034650c58fc87302ef2e8b1e41819"}}