Zhejiang Fuchunjiang Environmental Thermoelectric Co Ltd Spline ILLIQ Liquidity Analysis
High-persistence model: shocks decay very slowly, so the theoretical long-run value may not be practically meaningful
Liquidity prediction for Tuesday, July 21st, 2026
1 Day
176.67
increased by 18.59
1 Week
219.23
increased by 61.15
1 Month
321.07
increased by 162.99
Analysis last updated: Tuesday, July 21, 2026 at 06:17 PM UTC
News Impact Curve
How returns affect tomorrow's liquidityLiquidity Forecast
How liquidity evolves over timeParameter Estimates
Sep 24, 2010 to Jul 17, 2026Model Insight
With persistence 1.000, illiquidity shocks have a half-life of 63013 trading days (~250.1 years), close to a unit root, so long-run forecasts are highly sensitive to this estimate.
μ
ILLIQ-SMEM Model
Tap to view equation
| Parameter | Value | t-statistic |
|---|---|---|
ω const Unconditional variance weight | 1.0183 | 6.81*** |
α ARCH Response to squared shocks | 0.2852 | 0.36 |
β GARCH Volatility persistence | 0.7148 | 0.89 |
Spline Coefficients
K=2
| γ1 | -0.0239 | -0.05 |
| γ2 | 0.0101 | 0.02 |
Persistence:
1.000
Half-life:
63013 days
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