关键词: 股票中短期风险, 复杂网络, VaR数组, 小世界效应, 无标度特性

Abstract: Short-term stock risk was simulated with a VaR array. An undirected and unweighted stock short-term risk network was built taking stocks from the Shanghai stock market, with the correlation of the VaR arrays of stocks used as boundaries. Then, the topological structure of the network was analyzed utilizing the theories and methodology of complex networks. The complex network of short-term risk of stocks had a small-world effect with a scale-free property at specified times, though in most cases the scale-free characteristic was not observed. Under conditions of unilateral decline, price fluctuations for individual stocks was relatively high, although the mutual risk impact of each stock was lower. In a shorter term, the difference in losses between holding different stocks was relatively large, while over the longer term, the difference was smaller.