The effectiveness of the NHA and how to constructing the waveform

ABSTRACT Analysis of stock prices has been widely studied because of the strong demand among private investors and financial institutions. However, it is difficult to accurately capture the factors that cause fluctuations in stock prices, as they are affected by a variety of factors. Therefore, we used non-harmonic analysis, a frequency technique with at least  to more accurately than conventional analysis methods, to visualize the periodicity of the Nasdaq Composite Index stock price from January 4, 2010 to September 8, 2023. The period of intense periodic fluctuation was classified as ROI1–ROI3 and analyzed in detail. This result confirms the possibility that decomposing the complex state of stock prices into waves simplifies the changes in waveforms and corresponds to the causal relationship between these waves owing to incidents. Moreover, the results of this experiment could be used to understand the relationship between periodic fluctuations and incidents or events and to use deep learning to predict stock prices.104 1010