G7 Stock Markets: Who is The First to Defeat The DCCA Correlation?

Following the methodology of Ferreira and Dionísio (2016), the objective of this paper is to analyze the behavior stock markets in the G7 countries and find which of those countries is the first to reach levels of long-range correlations that are not significant. We carry out this analysis using detrended cross-correlation analysis and its correlation coefficient, to check for the existence of long-range dependence in time series. The existence of long-range dependence could be understood as a possibility of EMH violation. This analysis remains interesting because studies are not conclusive about the existence or not of long memory in stock return rates.

The flora and vegetation in an area of the Caatinga in Taperuaba, Sobral, Ceará state, Brazil

The Caatinga, covering about 800.000 km2, is the predominant vegetation type of the semi-arid region of Brazil. The Caatinga biome comprises several phytophysiognomies and floristic compositions, with many endemic species, especially in Fabaceae, Cactaceae, Euphorbiaceae, Bignoniaceae e Combretaceae. Despite considerable advances, the Brazilian semi-arid needs more studies and inventories of biodiversity, especially the Ceará state. On the basis of these considerations, the present study aims to identify the flora and vegetation, in order to characterize the phytophysiognomy in an area of the Caatinga, in locality of Taperuaba, municipality of Sobral, Ceará, Brazil. Field work was conducted in March 2015 and 2016 respectively, in three transects. The life-forms were established in accordance of Raunkiaer´s system. The floristic list is composed of 87 species, distributed in 66 genera and 36 families. The flora comprises 22 Brazilian endemic species. The most representative family was Fabaceae with 15 species, followed by Malvaceae (7) Convolvulaceae (6), Euphorbiaceae (5) and Poaceae (5). The biological spectrum had a high proportion of therophytes (29,9%), chamaephytes (29,9%) and phanerophytes (26,4%). In the area were identified two phytophysiognomies: outcrops communities highlighting succulent phanerophytes (Pilosocereus chrysostele (Vaupel) Byles & G.D. Rowley subsp. cearensis P.J. Braun & Esteves and P. gounellei (F.A.C. Weber) Byles & Rowley), chamaephytes (Encholirium spectabile Mart. ex Schult. & Schult. f. and Lepidaploa chalybaea (Mart. ex DC.) H. Rob.) and therophytes (Mitracarpus baturitensis Sucre), mixed with communities including small trees and shrubs on deeper soil, composed of Cereus jamacaru DC., a succulent phanerophyte, and many woody phanerophytes, such as Cordia oncocalyx Allemão, Crateva trapia L., Mimosa caesalpiniifolia Benth., M. tenuiflora (Willd.) Poir., Poincianella bracteosa (Tul.) L.P. Queiroz and P. pyramidalis (Tul.) L.P. Queiroz.