Journal of the American Statistical Association 89(427),913-923 Jing,L.,2008.An analysis of freight rate volatility in dry bulk shipping markets.Maritime policy and management 35(3). 237 Kai,S.,Chun-qiong,L.,Nan-shan,A.,Xiao-hong,Z.,2008.Using three methods to investigate time-scaling properties in air pollution indexes time series.Nonlinear Analysis:Real World Applications 9(2),693-707. Kavussanos,M.G.,1996a.<Comparisons of volatility in the dry-cargo ship sector:spot versus time charters,and smaller versus larger vessels..pdf. Kavussanos,M.G.,2003.Time varying risks among segments of the tanker freight markets.International Journal of Maritime Economics 5(3),227. Kavussanos,M.G.a.A.-M.,A.H.,2001.Seasonality patterns in dry bulk shipping spot and time charter freight rates 37 (6),443-467.Transportion Research Part E 37(6),443-467. Kavussanos,M.G.a.A.-M.,A.H.,2002.Seasonality patterns in tanker spot freight rate markets.Economic Modelling 19(5),747-782. Malik,F.,2003.Sudden changes in variance and volatility persistence in foreign exchange markets.Journal of Multinational Financial Management 13(3),217-230. Malik,F.,Ewing,B.T.,Payne,J.E.,2005.Measuring volatility persistence in the presence of sudden changes in the variance of Canadian stock returns.Canadian Journal of Economics/Revue canadienne d'economique 38(3), 1037-1056 Ohanissian,A.,Russell,J.R.,Tsay,R.S.,2008.True or Spurious Long Memory?A New Test.Journal of Business Economic Statistics 26(2),161-175. Ozdemir,Z.A.,Gokmenoglu,K.,Ekinci,C.,2013.Persistence in crude oil spot and futures prices.Energy 59,29-37 Panas,E.,2001.Estimating fractal dimension using stable distributions and exploring long memory through ARFIMA models in Athens Stock Exchange.Applied Financial Economics 11(4),395-402. Peng,C.K.,Havlin,S.,Stanley,H.E.,Goldberger,A.L.,1995.Quantification of scaling exponents and crossover phenomena in nonstationary heartbeat time series.Chaos 5(1),82-87. Rivera-Castro,M.A.,Miranda,J.G.V.,Cajueiro,D.O.,Andrade,R.F.S.,2012.Detecting switching points using asymmetric detrended fluctuation analysis.Physica A:Statistical Mechanics and its Applications 391(1-2), 170-179. Wang,Y.,Wu,C.,2012.Long memory in energy futures markets:Further evidence.Resources Policy 37(3),261-272. Yalama,A.,Celik,S.,2013.Real or spurious long memory characteristics of volatility:Empirical evidence from an emerging market.Economic Modelling 30,67-72. Zhang,X.,Podobnik,B.,Kenett,D.Y.,Eugene Stanley,H.,2014.Systemic risk and causality dynamics of the world international shipping market.Physica A:Statistical Mechanics and its Applications 415,43-53. About the author Yadong Zeng,a senior student majoring in ocean engineering.He dreams to be a scientist and an expert in fluid mechanics and hydrodynamics. 1313 Journal of the American Statistical Association 89(427), 913-923. Jing, L., 2008. An analysis of freight rate volatility in dry bulk shipping markets. Maritime policy and management 35(3), 237. Kai, S., Chun-qiong, L., Nan-shan, A., Xiao-hong, Z., 2008. Using three methods to investigate time-scaling properties in air pollution indexes time series. Nonlinear Analysis: Real World Applications 9(2), 693-707. Kavussanos, M.G., 1996a. <Comparisons of volatility in the dry-cargo ship sector: spot versus time charters, and smaller versus larger vessels. .pdf>. Kavussanos, M.G., 2003. Time varying risks among segments of the tanker freight markets. International Journal of Maritime Economics 5(3), 227. Kavussanos, M.G.a.A.-M., A. H., 2001. Seasonality patterns in dry bulk shipping spot and time charter freight rates 37 (6), 443-467. Transportion Research Part E 37(6), 443-467. Kavussanos, M.G.a.A.-M., A. H., 2002. Seasonality patterns in tanker spot freight rate markets. Economic Modelling 19(5), 747-782. Malik, F., 2003. Sudden changes in variance and volatility persistence in foreign exchange markets. Journal of Multinational Financial Management 13(3), 217-230. Malik, F., Ewing, B.T., Payne, J.E., 2005. Measuring volatility persistence in the presence of sudden changes in the variance of Canadian stock returns. Canadian Journal of Economics/Revue canadienne d'économique 38(3), 1037-1056. Ohanissian, A., Russell, J.R., Tsay, R.S., 2008. True or Spurious Long Memory? A New Test. Journal of Business & Economic Statistics 26(2), 161-175. Ozdemir, Z.A., Gokmenoglu, K., Ekinci, C., 2013. Persistence in crude oil spot and futures prices. Energy 59, 29-37. Panas, E., 2001. Estimating fractal dimension using stable distributions and exploring long memory through ARFIMA models in Athens Stock Exchange. Applied Financial Economics 11(4), 395-402. Peng, C.K., Havlin, S., Stanley, H.E., Goldberger, A.L., 1995. Quantification of scaling exponents and crossover phenomena in nonstationary heartbeat time series. Chaos 5(1), 82-87. Rivera-Castro, M.A., Miranda, J.G.V., Cajueiro, D.O., Andrade, R.F.S., 2012. Detecting switching points using asymmetric detrended fluctuation analysis. Physica A: Statistical Mechanics and its Applications 391(1-2), 170-179. Wang, Y., Wu, C., 2012. Long memory in energy futures markets: Further evidence. Resources Policy 37(3), 261-272. Yalama, A., Celik, S., 2013. Real or spurious long memory characteristics of volatility: Empirical evidence from an emerging market. Economic Modelling 30, 67-72. Zhang, X., Podobnik, B., Kenett, D.Y., Eugene Stanley, H., 2014. Systemic risk and causality dynamics of the world international shipping market. Physica A: Statistical Mechanics and its Applications 415, 43-53. About the author Yadong Zeng, a senior student majoring in ocean engineering. He dreams to be a scientist and an expert in fluid mechanics and hydrodynamics