empirical stuff about fast moving products

A simple statistic of a fast moving product is the AR coefficint in the returns series, when snapped every 2 seconds, also a quantile quantile transition amtrix would have a high values along the ends of the principal diagonal. Rakesh Kumar attested the fact about nasdaq 100 futures, wich ost will accept as having a much lower beta than most stocks. interestingly about nasdaq 100 i was surprised to see that the holdings of apple are much more than that of dell and intel. must say they have doen well for themselves. i fell qqqq has fallen much more than it should and when the US is growing at 6% nasdaq being at the same level as it was 16 months ago does not seem justfied.