摘要：AbstractThe financial literature contains numerous empirical studies that consider the dependency found in the movements of stock market prices to be insignificant, concluding that historical series of prices do not sufficiently explain their future development. However, other authors have found the dependency in such movements to be significant, thus refuting the random walk hypothesis of stock market prices. In a context of portfolio management, the purpose of this study is to determine whether the weak efficient market hypothesis is fulfilled for the case of the Spanish Future Stock Market. The study has been realized from the intraday quotations of IBEX 35 future during the period 2006-2010.
