One of the stylized facts of the financial markets states that the log-returns of the stock price on consecutive days ri = log(Si/Si-1) are (pick one): i) Positively correlated ii) Uncorrelated iii) Negatively correlated Does this stylized fact remain valid for microstructure data? If not, what is different at the microscale? One of the stylized facts of the financial markets states that the log-returns of the stock price on consecutive days ri = log(Si/Si-1) are (pick one): i) Positively correlated ii) Uncorrelated iii) Negatively correlated Does this stylized fact remain valid for microstructure data? If not, what is different at the microscale