I will bet that local ocean heat content fluctuations follow a scale - free power law distribution — 1 / f noise, not white, nor red. (climateaudit.org)
In the meantime enjoy the following: I have attached a link to a terrific article on power law distributions and... Continue reading → (amarginofsafety.com)
[3] The results (depicted below) clearly show a return profile matching that of the above - mentioned Power Law Distribution. (seedinvest.com)