Table 3.

Descriptive statistics.

	Obs.	Mean	SD	Min.	Med.	Max.	Skew.	Kurt.	$\rho (1)$	$\rho (10)$
Panel A: Europe
BE-BFX	140	6.02	1.19	3.52	6.05	9.14	0.11	$-$0.18	0.87	0.54
CH-SSMI	135	5.61	1.38	3.09	5.20	9.55	0.92	0.39	0.86	0.55
DE-GDAXI	137	5.81	1.23	2.69	5.72	8.97	0.18	0.02	0.88	0.55
DK-OMXC20	132	5.63	0.91	4.03	5.38	8.75	1.10	1.14	0.84	0.48
ES-IBEX	140	6.05	1.17	3.26	6.13	9.31	0.09	$-$0.03	0.87	0.53
EU-STOXX50E	141	6.06	1.30	2.81	5.99	9.37	0.28	0.21	0.85	0.49
FI-OMXHPI	135	5.53	1.02	3.54	5.44	8.26	0.56	$-$0.01	0.85	0.48
FR-FCHI	141	5.97	1.25	2.95	5.96	9.30	0.19	0.08	0.86	0.52
GB-FTSE	140	6.11	1.26	3.65	5.95	9.73	0.41	$-$0.19	0.77	0.53
IT-FTMIB	136	5.74	1.19	2.92	5.72	8.84	0.20	$-$0.02	0.88	0.54
NL-AEX	139	5.77	1.27	2.55	5.66	9.27	0.52	0.43	0.86	0.51
NO-OSEAX	133	6.00	1.36	3.18	5.82	10.81	0.64	0.37	0.74	0.40
SE-OMXSPI	137	5.44	1.06	3.51	5.26	8.55	0.79	0.35	0.88	0.50
Panel B: America
BR-BVSP	136	5.97	1.28	3.66	5.76	9.23	0.64	$-$0.18	0.86	0.57
CA-GSPTSE	137	5.01	1.59	1.91	5.01	9.14	0.16	$-$0.54	0.89	0.66
MX-MXX	138	5.40	0.88	3.31	5.38	7.99	0.09	$-$0.43	0.64	0.36
US-DJI	136	5.81	1.45	2.80	5.75	9.23	0.33	$-$0.34	0.88	0.51
US-IXIC	141	5.76	1.29	3.10	5.66	9.62	0.55	0.15	0.84	0.53
US-RUT	141	5.82	1.38	2.79	5.92	8.96	0.04	$-$0.29	0.88	0.57
US-SPX	137	5.67	1.48	2.65	5.45	9.26	0.36	$-$0.23	0.88	0.54
Panel C: Asia and Australia
CN-SSEC	135	5.01	0.95	3.37	4.78	7.33	0.62	$-$0.51	0.77	0.21
HK-HSI	136	5.30	0.75	3.65	5.28	8.69	0.99	2.77	0.69	0.19
IN-BSESN	140	5.70	1.24	3.59	5.61	9.99	0.79	0.75	0.86	0.54
IN-NSEI	139	5.65	1.31	3.24	5.54	10.07	0.94	1.16	0.88	0.53
JP-N225	134	5.33	1.21	2.73	5.07	9.18	0.66	0.27	0.81	0.53
KR-KS11	139	5.58	0.92	4.24	5.35	8.79	1.30	1.47	0.80	0.38
SG-STI	138	5.01	0.98	2.90	4.85	8.03	0.73	0.47	0.83	0.51
AU-AORD	141	5.66	1.41	2.66	5.58	9.40	0.30	$-$0.20	0.82	0.56

Note: The table shows the descriptive statistics for realized volatility of analysed stock indices. It represents The number of observations (Obs.), mean, standard deviation (SD), minimum (Min.), median (Med.), maximum (Max.), skewness (Skew.), kurtosis (Kurt.), first order autocorrelation coefficient ($\rho (1$), and 10th order autorocorrelation coefficient ($\rho (10)$). Kurt. is a measure of unbiased kurtosis obtained using Fisher's definition of kurtosis (kurtosis of normal distribution = 0) and the result is normalized by $N-1$.