Covariance Matrix Estimation and Mean-Variance Optimization in application to International Diversification

Tutkimus keskittyy kansainväliseen hajauttamiseen suomalaisen sijoittajan näkökulmasta. Tutkimuksen toinen tavoite on selvittää tehostavatko uudet kovarianssimatriisiestimaattorit minimivarianssiportfolion optimointiprosessia. Tavallisen otoskovarianssimatriisin lisäksi optimoinnissa käytetään kahta kutistusestimaattoria ja joustavaa monimuuttuja-GARCH(1,1)-mallia. Tutkimusaineisto koostuu Dow Jonesin toimialaindekseistä ja OMX-H:n portfolioindeksistä. Kansainvälinen hajautusstrategia on toteutettu käyttäen toimialalähestymistapaa ja portfoliota optimoidaan käyttäen kahtatoista komponenttia. Tutkimusaieisto kattaa vuodet 1996-2005 eli 120 kuukausittaista havaintoa. Muodostettujen portfolioiden suorituskykyä mitataan Sharpen indeksillä. Tutkimustulosten mukaan kansainvälisesti hajautettujen investointien ja kotimaisen portfolion riskikorjattujen tuottojen välillä ei ole tilastollisesti merkitsevää eroa. Myöskään uusien kovarianssimatriisiestimaattoreiden käytöstä ei synnytilastollisesti merkitsevää lisäarvoa verrattuna otoskovarianssimatrisiin perustuvaan portfolion optimointiin.

First dice your dill – new methods and techniques in sample handling

This book is dedicated to celebrate the 60th birthday of Professor Rainer Huopalahti. Professor Rainer “Repe” Huopalahti has had, and in fact is still enjoying a distinguished career in the analysis of food and food related flavor compounds. One will find it hard to make any progress in this particular field without a valid and innovative sample handling technique and this is a field in which Professor Huopalahti has made great contributions. The title and the front cover of this book honors Professor Huopahti’s early steps in science. His PhD thesis which was published on 1985 is entitled “Composition and content of aroma compounds in the dill herb, Anethum graveolens L., affected by different factors”. At that time, the thesis introduced new technology being applied to sample handling and analysis of flavoring compounds of dill. Sample handling is an essential task that in just about every analysis. If one is working with minor compounds in a sample or trying to detect trace levels of the analytes, one of the aims of sample handling may be to increase the sensitivity of the analytical method. On the other hand, if one is working with a challenging matrix such as the kind found in biological samples, one of the aims is to increase the selectivity. However, quite often the aim is to increase both the selectivity and the sensitivity. This book provides good and representative examples about the necessity of valid sample handling and the role of the sample handling in the analytical method. The contributors of the book are leading Finnish scientists on the field of organic instrumental analytical chemistry. Some of them are also Repe’ s personal friends and former students from the University of Turku, Department of Biochemistry and Food Chemistry. Importantly, the authors all know Repe in one way or another and are well aware of his achievements on the field of analytical chemistry. The editorial team had a great time during the planning phase and during the “hard work editorial phase” of the book. For example, we came up with many ideas on how to publish the book. After many long discussions, we decided to have a limited edition as an “old school hard cover book” – and to acknowledge more modern ways of disseminating knowledge by publishing an internet version of the book on the webpages of the University of Turku. Downloading the book from the webpage for personal use is free of charge. We believe and hope that the book will be read with great interest by scientists working in the fascinating field of organic instrumental analytical chemistry. We decided to publish our book in English for two main reasons. First, we believe that in the near future, more and more teaching in Finnish Universities will be delivered in English. To facilitate this process and encourage students to develop good language skills, it was decided to be published the book in English. Secondly, we believe that the book will also interest scientists outside Finland – particularly in the other member states of the European Union. The editorial team thanks all the authors for their willingness to contribute to this book – and to adhere to the very strict schedule. We also want to thank the various individuals and enterprises who financially supported the book project. Without that support, it would not have been possible to publish the hardcover book.

Sähkökoneen staattorikäämityksen kehittäminen

Tämä insinöörityö tehtiin ABB:n Pitäjänmäen konetehtaalle Tahtikoneet-tulosyksikölle. Työssä tutkittiin mahdollisuuksia valmistaa murtovakovyyhtejä kestomagneettituuligeneraattoreihin, joissa vakoluku on alle yhden. Työ tehtiin tutustumalla aluksi Pitäjänmäen konetehtaan käytössä oleviin vyyhden valmistus- ja käämintämenetelmiin. Lisäksi tutkittiin erilaisia mahdollisia murtovakovyyhden valmistusmenetelmiä, joista lupaavimpia myös kokeiltiin. Saatujen kokemusten pohjalta valittiin vyyhden valmistusmenetelmä, jonka mukaan valmistettiin koe-erä. Koe-erälle suoritettiin mittauksia, joilla varmistettiin niiden sähköinen kestävyys Työn tuloksena valitulla valmistusmenetelmällä valmistettiin vyyhdet prototyyppi tuuligeneraattorin.

New design of the frame for a permanent magnet generator

This thesis introduces a search for a new design of the frame for a permanent magnet generator mounted at a windmill. The objective of this work is to offer new design ideas for the stator frame - new concepts for connecting stator core to stator frame in a generator. Desired aims of new design concepts are: simplification of the structure production; decrease of material use; use of standard components; light weight of construction and etc. Thesis contains several new possible designs for the stator frame structure. Also, it has a list of possible connection concepts, which can be used to join the stator to the frame. All new ideas are described and compared according to its match to the desired purposes of the work. New design concepts are modeled using modern software. The main part of the Thesis contains several approximate computer models of the current and new offered constructions, description of loads and stress in the current stator frame. It has evaluation of the most important stress and load characteristics. The final design is a result of all previous research. It has a description of a new frame structure and joining concept for it. This structure matched main aims of work, but it does not have detailed design with dimensions and check calculations of the frame and welds. Thesis gives representation about design search, evaluation and comparison of new concepts of generator structure. Also, it gives general representation of renewable energy technology, knowledge about windmill turbines and its contents.

Ultralujasta teräksestä valmistetun liitoksen pienahitsin staattinen kestävyys

Ultralujat teräkset ovat teräksiä, joiden lujuus on reilusti suurempi verrattuna perinteisiin rakenneteräksiin. Niiden ominaisuuksia hyödynnetään eniten nosto- ja kuljetusvälinete¬ollisuudessa. Ultralujien terästen käyttö avaa suunnittelijalle uusia mahdollisuuksia suun¬nitella ulottuvampia ja kevyempiä rakenteita, jolloin voidaan saavuttaa säästöjä niin val¬mistus- kuin polttoainekustannuksissakin. Ultralujille teräksille ei kuitenkaan ole ole¬massa niitä vastaavia suunnitteluohjeita tai standardeja. Teräsrakenteiden liitosten suun¬nitteluun mitoitusohjeita antava standardi SFS-EN 1993-1-8 ei huomioi teräksiä, joiden myötölujuus on yli 460 MPa. SFS-EN 1993-1-12 on 1993-1-8:n laajennus, joka on voi¬massa myötölujuuteen 700 MPa asti. Tässä diplomityössä tutkittiin ultralujista teräksistä valmistettujen pienahitsiliitosten käyttäytymistä vetokokeiden ja elementtimenetelmän avulla. Tulosten avulla voitiin mää¬rittää matalalujuuksisten terästen mitoitusohjeiden soveltuvuutta ultralujille teräksille. Kokeissa käytetty teräs oli Ruukin valmistama Optim 960 QC.

Inverting ionospheric D-region electron density pro-file from riometer measurement

The aim of this work is to invert the ionospheric electron density profile from Riometer (Relative Ionospheric opacity meter) measurement. The newly Riometer instrument KAIRA (Kilpisjärvi Atmospheric Imaging Receiver Array) is used to measure the cosmic HF radio noise absorption that taking place in the D-region ionosphere between 50 to 90 km. In order to invert the electron density profile synthetic data is used to feed the unknown parameter Neq using spline height method, which works by taking electron density profile at different altitude. Moreover, smoothing prior method also used to sample from the posterior distribution by truncating the prior covariance matrix. The smoothing profile approach makes the problem easier to find the posterior using MCMC (Markov Chain Monte Carlo) method.

Equilibrium curves and growth models to deal with forests in transition to uneven-aged structure : application in two sample stands

Abstract