Figure 4.

Cluster entropy results for horizon $M=1$ for ARFIMA series with different combinations of the differencing parameter d, autoregressive parameter $\varphi$ and moving average parameter $\theta$. The differencing parameter takes values $d=0.05$, $d=0.15$, $d=0.25$ with a different combinations of autoregressive and moving average parameter. The full set of analysed values of d, $\varphi$ and $\theta$ is reported in Table 2.