i am using a base markov chain (rather its transition matrix) to find its steady state. Now i have a bunch of other markov chains with varying steady states. Is there some way i can figure out which of these are most similar to the base steady state ?
I must apologize if this is unclear but let me try to explain with an example what i am trying out.
I have the sales of a product (5 years, daily data) and i constructed a transition matrix using change in sales volume as states (-20%, -10%, 0, 10%, 20%). I found its steady state and now i have a bunch of other products whose matrices i have constructed. I need to find out those products that behave similar to this reference product. Thanks in advance for any pointers.