Table 3. Descriptive statistics for log-return series (1995–1997) and for years CV1: 1995, CV2: 1996 and CV3: 1997.

Index	Min.	Max.	Mean	Variance	Skewness	Kurtosis
DAX	−0.0601	0.0432	0.0013	1.20e−04	−0.2801	2.4429
SMI	−0.0470	0.0497	0.0013	9.53e−05	−0.2046	2.6556
CAC	−0.0437	0.0610	0.0011	1.23e−04	−0.0404	2.0135
FTSE	−0.0310	0.0313	0.0007	6.00e−05	−0.1435	1.3557
$DA{X}_{CV1}$	−0.0318	0.0243	0.0008	5.35e−05	−0.2152	1.6845
$SM{I}_{CV1}$	−0.0255	0.0497	0.0011	5.30e−05	0.8042	7.6202
$CA{C}_{CV1}$	−0.0347	0.0319	0.0005	8.39e−05	0.0393	1.2219
$FTS{E}_{CV1}$	−0.0144	0.0218	0.0004	3.30e−05	0.0716	0.3041
$DA{X}_{CV2}$	−0.0378	0.0327	0.0015	8.20e−05	−0.3177	1.6705
$SM{I}_{CV2}$	−0.0344	0.0310	0.0016	7.14e−05	−0.5082	2.2917
$CA{C}_{CV2}$	−0.0399	0.0295	0.0013	1.07e−04	−0.4599	1.4018
$FTS{E}_{CV2}$	−0.0220	0.0265	0.0009	4.27e−05	−0.2070	1.0154
$DA{X}_{CV3}$	−0.0601	0.0432	0.0017	2.26e−04	−0.2887	0.7929
$SM{I}_{CV3}$	−0.0470	0.0371	0.0013	1.62e−04	−0.2886	0.7565
$CA{C}_{CV3}$	−0.0437	0.0610	0.0014	1.79e−04	0.0811	1.6484
$FTS{E}_{CV3}$	−0.0310	0.0313	0.0009	1.05e−04	−0.1752	0.3311