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Visibility graph analysis of the grains and oilseeds indices

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  • Hao-Ran Liu
  • Wei-Xing Zhou

Abstract

The Grains and Oilseeds Index (GOI) and its sub-indices of wheat, maize, soyabeans, rice, and barley are daily price indexes reflect the price changes of the global spot markets of staple agro-food crops. In this paper, we carry out a visibility graph (VG) analysis of the GOI and its five sub-indices. Maximum likelihood estimation shows that the degree distributions of the VGs display power-law tails, except for rice. The average clustering coefficients of the six VGs are quite large (>0.5) and exhibit a nice power-law relation with respect to the average degrees of the VGs. For each VG, the clustering coefficients of nodes are inversely proportional to their degrees for large degrees and are correlated to their degrees as a power law for small degrees. All the six VGs exhibit small-world characteristics to some extent. The degree-degree correlation coefficients shows that the VGs for maize and soyabeans indices exhibit weak assortative mixing patterns, while the other four VGs are weakly disassortative. The average nearest neighbor degree functions have similar patterns, and each function shows a more complex mixing pattern which decreases for small degrees, increases for mediate degrees, and decreases again for large degrees.

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  • Hao-Ran Liu & Wei-Xing Zhou, 2023. "Visibility graph analysis of the grains and oilseeds indices," Papers 2304.05760, arXiv.org.
    • Handle: RePEc:arx:papers:2304.05760
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    1. Ying-Hui Shao & Ying-Lin Liu & Yan-Hong Yang, 2023. "Visibility graph analysis of crude oil futures markets: Insights from the COVID-19 pandemic and Russia-Ukraine conflict," Papers 2310.18903, arXiv.org, revised Apr 2024.

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