大家好，

我目前在学习MGARCH, 特别是Dynamic Conditional Correlation. 但输出结果中 quasi correlation 不知道怎么解释。VCC和DCC的公式也研究了。但是由于数学基础一般。对公式没有一个很深刻的理解。

先拿英文搜了搜发现有这个问题的人还真不少。而问题也都没有得到解决。比如下面这个

Hey guys,

I have a small problem with interpreting the results of Stata MGARCH DCC/VCC models and I hope you are able to help me.

I understand how the models with dynamic correlations (DCC and VCC) work and I also found in the Stata manual that you have to use "predict" in order to calculate the time-varying correlations for these models. But there is one question that I can't answer with reading the manual or searching in this forum/google:

What does the (quasi-)correlation coefficient in the model output stand for?
- Is that the average estimated correlation over time?
- Is that the estimate for the dynamic correlation at the end of the time series?
- Or the estimate for the dynamic correlation at the beginning of the time series?
- Or something completely different?

I really have tried to answer that on my own, but I'm not able to get it right.
Hope you can help me!
Thanks in advance,
Tobi
http://www.talkstats.com/showthread.php/44424-Meaning-of-MGARCH-Conditional-(Quasi-)Correlation-estimates

如果这里有人能解释一下的话也算帮助了很多国际同行了。。。多谢啦。

所以我的问题是，quasi correlation 如何解释。或者其实也是 VCC DCC 的区别有没有个 直观的解释。或者哪位能指点一下需要学习哪些数学概念之后就能很好理解这个概念了。哈哈希望问题说的清楚了。希望有兴趣的朋友们都来讨论一下。多谢大家 :)