As for a complex stock market, the standard deviation and the beta coefficient are not good risk measurements. Instead, the non-linear variable ,H exponent is a good replacement for risk measurement.

• 在复杂性的分析框架下，我们认为复杂资本市场的风险不能用标准差，贝塔系数衡量，非线性变量H指数是一个较好的代替。