This paper analyzed the influence of dollar on crude oil and gold based on the multifractal detrended partial cross-correlation analysis method. It showed that affected by the dollar, the crude oil and gold markets have a partial cross-correlation relationship which is stronger than their own cross-correlation. The partial cross-correlation is long-term and has multifractal characteristics. Through shuffled and Fourier-phase randomization, it is found that this multifractal feature is caused by the combined effect of the long-term cross-correlation between the returns and the fluctuation fat-tailed distribution, where the influence of the fat-tailed distribution is slightly greater than that of the long-term cross-correlation between the returns.

中文翻译：

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基于MF-DPCCA方法的美元对原油和黄金的影响

本文基于多重分形去趋势偏相关分析方法分析了美元对原油和黄金的影响。表明受美元影响，原油和黄金市场存在部分互相关关系，强于自身的互相关关系。部分互相关是长期的并且具有多重分形特征。通过shuffled和Fourier-phase随机化发现，这种多重分形特征是收益长期互相关与波动肥尾分布的共同作用造成的，其中肥尾分布的影响为略大于回报之间的长期互相关。