What the flooding of the Nile says about the Nifty
While Nifty is positively serially correlated over the very short term, if we look at slightly longer time periods, we find that the index is actually mean reverting
According to chapter 41 of the Book of Genesis, the Pharaoh had two dreams. In one, seven lean and ugly cows that emerged from the Nile killed and ate up seven fat and well-fed cows that also emerged from the Nile. In another, seven thin ears of corn ate up seven fat and well-formed ears.