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V-Lab

Top Culture Co Ltd Spline ILLIQ Liquidity Analysis

Liquidity prediction for Friday, July 10th, 2026

1 Day

8,579.27

increased by 3,601.40

1 Week

4,710.22

decreased by 267.65

1 Month

3,223.34

decreased by 1,754.53

Analysis last updated: Friday, July 10, 2026 at 08:11 PM UTC

Date Range:

from

to

6M ·

1Y ·

2Y ·

5Y ·

10Y ·

All

graph of Top Culture Co Ltd ILLIQ-SMEM

News Impact Curve

How returns affect tomorrow's liquidity

Liquidity Forecast

How liquidity evolves over time

Parameter Estimates

Dec 6, 2000 to Jul 3, 2026

Model Insight

This model fits a time-varying baseline (a spline), so illiquidity mean-reverts toward a slowly-shifting long-run level rather than a constant. Short-run deviations decay with a half-life of 16 trading days.

μ

ILLIQ-SMEM Model

Tap to view equation

ParameterValuet-statistic
ω

const

Unconditional variance weight

1.3216
4.28***
α

ARCH

Response to squared shocks

0.1840
14.48***
β

GARCH

Volatility persistence

0.7747
50.83***
γi Spline Coefficients
K=9
γ1-0.9373
-7.27***
γ21.5189
7.67***
γ3-0.7713
-5.90***
γ40.1891
1.99**
γ5-0.0189
-0.24
γ60.1696
1.99**
γ7-0.2519
-2.64***
γ80.1235
1.24
γ9-0.1150
-0.86

Persistence:

0.959

Half-life:

16 days