Firstly, Kolmogorov-Smirnov test method was used to test the normal distribution of indices, including DJI, S &P500, FTSE, N225, SSEC and SZCI, we find that the returns of these indices are not normal distribution.

• 本文首先利用Kolmogorov-Smirnov检验了道琼斯工业平均指数、标准普尔500指数、伦敦金融时报指数、日经225指数、上证综合指数和深证成份指数的正态分布特性,发现这些指数的收益率波动都不是正态分布的。