Before revision: On different time-intervals it can be useful to empirically determine whether the measurement process being observed is fundamental and representative of actual discrete events, or whether these measurements can still be faithfully represented as random samples of some underlying continuous process.
After revision: The Epps effect is key phenomenology relating to high frequency correlation dynamics in the financial markets. We argue that it can be useful to empirically determine whether the measurement process being observed is fundamental and representative of actual discrete events, or whether these measurements can still be faithfully represented as random samples of some underlying continuous process.