Price without transaction makes no sense. Trading volume authenticates its corresponding price, so there is mutual information and entanglement between price and volume. On the other hand, we are curious about scaling features of this entanglement and need to know how structures in different scales translate information. So, markets are faced with a variety of dimensions of price and trading volume. Investment size ( volume), price-wise expectations (gain/loss), and time-wise expectations ( time-scale ) differ from one investor to another. This study, by applying the MF-DXA method , demonstrates that priceand trading volume and their coupling contain power law information and are multifractal in the markets we investigated. Also, the resultant correlation coefficients present scaling behaviors which are totally significant in the investigated time-scales and they decrease with increasing time-scales . Meanwhile, considering developed markets, the price-volume coupling is more dominated by trading volume rather than price. This domination increases price validity. We can confirm that in a developed market, traders, with a certain price , are more rational and show their enthusiasm to price by applying trading volume. This approach for emerging markets is weak. As a whole, in emerging markets, market behavior is guided by a phenomenon other than volume .
Price without transaction makes no sense. Trading volume authenticates its corresponding price, so there exist mutual information and correlation between price and trading volume. We are curious about fractal features of this correlation and need to know how structures in different scales translate information. To explore the influence of investment size (trading volume), price-wise (gain/loss), and time-scale effects, we analyzed the price and trading volume and their coupling by applying the MF-DXA method . Our results imply that price, trading volume, and price-volume coupling exhibit a power law and are also multifractal . Meanwhile, considering developed markets, the price-volume couplings are significantly negatively correlated. However, in emerging markets, the price has less of a contribution to price-volume coupling. In emerging markets in comparison with the developed markets, trading volume and price are more independent .
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