Raju, . A. , Jagannathan, . U.K. and Pundalika, . T. 2025. Empirical analysis of adaptive market hypothesis using Sharpe Ratio for buy and sell opportunities in global indices . The Economics and Finance Letters. 12, 1 (Feb. 2025), 120–142. DOI:https://doi.org/10.18488/29.v12i1.4102.