The information content of Canadian implied volatility indexes

For predicting future volatility, empirical studies find mixed results regarding two issues: (1) whether model free implied volatility has more information content than Black-Scholes model-based implied volatility; (2) whether implied volatility outperforms historical volatilities. In this thesis, we address these two issues using the Canadian financial data. First, we examine the information content and forecasting power between VIXC - a model free implied volatility, and MVX - a model-based implied volatility. The GARCH in-sample test indicates that VIXC subsumes all information that is reflected in MVX. The out-of-sample examination indicates that VIXC is superior to MVX for predicting the next 1-, 5-, 10-, and 22-trading days' realized volatility. Second, we investigate the predictive power between VIXC and alternative volatility forecasts derived from historical index prices. We find that for time horizons lesser than 10-trading days, VIXC provides more accurate forecasts. However, for longer time horizons, the historical volatilities, particularly the random walk, provide better forecasts. We conclude that VIXC cannot incorporate all information contained in historical index prices for predicting future volatility.

A hypothesis for the geochemical anomaly in the North Creek Watershed /

A regional geochemical reconnaissance by bottom stream sediment sampling, has delineated an area of high metal content in the north central sector of the North Creek Watershed. Development of a geochemical model, relating to the relative chemical concentrations derived from the chemical analyses of bottom sediments, suspended sediments, stream waters and well waters collected from the north central sector, was designed to discover the source of the anomaly. Samples of each type of material were analysed by the A.R.L. Direct Reading Multi-element Emission Spectrograph Q.A. 137 for elements: Na, K, Ca, Sr, Si, As, Pb, Zn, Cd, Ni, Ti, Ag, Mo, Be, Fe, AI, Mn, Cu, Cr, P and Y. Anomalous results led to the discovery of a spring, the waters of which carried high concentrations of Zn, Cd, Pb, As, Ni, Ti, Ag, Sr and Si. In addition, the spring waters had high concentrations of Na, Ca, Mg, 504 , alkalinity, N03' and low concentrations of K, Cl and NH3. Increased specific conductivity (up to 2500 ~mho/cm.) was noted in the spring waters as well as increased calculated total dissolved solids (up to 2047 mg/l) and increased ionic strength (up to 0.06). On the other hand, decreases were noted in water temperature (8°C), pH (pH 7.2) and Eh (+.154 volts). Piezometer nests were installed in the anomalous north central sector of the watershed. In accordance with the slope of the piezometric surface from wells cased down to the till/bedrock interface, groundwater flow is directed from the recharge area (northwest of the anomaly) towards the artesian spring via the highly fractured dolostone aquifer of the Upper Eramosa Member. The bedrock aquifer is confined by the overlying Halton till and the underlying Lower Eramosa Member (Vinemount Shale). The oxidation of sphalerite and galena and the dissolution of gypsum, celestite, calcite, and dolomite within the Eramosa Member, contributed its highly, dissolved constituents to the circulating groundwaters, the age of which is greater than 20 years as determined by tritium dating. Groundwater is assumed to flow along the Vinemount Shale and discharge as an artesian spring where the shale unit becomes discontinuous. The anomaly is located on a topographic low where bedrock is close to the surface. Thermodynamic evaluation of the major ion speciation from the anomalous spring and surface waters, showed gypsum to be supersaturated in these spring waters. Downstream from the spring, the loss of carbon dioxide from the spring waters resulted in the supersaturation with respect to calcite, aragonite, magnesite and dolomite. This corresponded with increases in Eh (+.304 volts) and pH (pH 8.5) in the anomalous surface waters. In conclusion, the interaction of groundwaters within the highly, mineralized carbonate source (Eramosa Member) resulted in the characteristic Ca*Mg*HC03*S04 spring water at the anomalous site, which appeared to be the principle effect upon controlling the anomalous surface water chemistry.

The bees of Niagara: a test of the intermediate disturbance hypothesis /

This study examined the bee fauna of the Carolinian Zone in Ontario, Canada. In 2003, 15687 individuals from 152 species of bees were collected. Tliere were many rare species but few abundant species. There were three distinct bee seasons. The Niagara bee assemblage was less diverse compared to other Carolinian Zone assemblages and types of landscapes. This study also examined how anthropogenic disturbance affects the diversity of bee assemblages. The intermediate disturbance hypothesis (IDH) was tested by selecting field sites subject to low, intermediate, and high disturbance. Intermediate disturbance had the highest species richness (SR=1 15) and most bees (N=556I), followed by low disturbance (SR= 100, N=2975), then high disturbance (SR=72, N=1364), supporting the IDH. Increased species richness in areas of intermediate disturbance was due to higher abundance, possibly because more blooming flowers were found there. Bees were larger in high disturbance areas but smaller in areas of high and intermediate disturbance.

Concept analysis in social studies

This project was undertaken because of a need to analyse concepts in social science more specifically and sequence them more carefully in a social science program. Concepts have been identified vaguely on many curriculum documents or left in isolation from each other when they are specifically identified. The project's aim was to identify a method for analysing concepts and sequencing their teaching on some rational basis. Once the method for analysing concepts was identified a questionnaire was designed and administered to a random sample of students at the grade three, five and eight levels. The questionnaire attempted to measure their comprehension of specific social science concepts at several levels which became progressively more complex. The major hypothesis was that there would be a direct correlation between age and achievement on the questionnaire. The raw scores were seriated and correlated with the ages of the students using the rankdifference- squared method. For the majority of areas tested it was found that there was a significant correlation between age and achievement on the questionnaire. Variation in the correlation coefficients generated suggests that comprehension of social science concepts is not simply a function of age but is probably a function of several inter-related factors such as reading ability, skill in Basic Thinking Skills and age. Thirty students completed each test. There were three tests in the questionnaire.

The relationship between creativity and moral judgment

A sample of 50 male and female subjects ranging in age from 12 to 73 were divided into three groups according to the scale of maturity of moral judgment developed by Lawrence Kohlberg. Subjects were also tested on a measure of creativity developed by Torrance after the formulations of Guilford in order to test the hypothesis that the re^- lationship between creativity and maturity of moral judgment is curvilinear. Researchers have failed to develop any working hypothesis concerning the relationship between creativity and moral judgment or postulate any consistent theoretical framework concerning the possible relationship between these two constructs. The empirical investigation involved a scientific testing of a random selection of elementary subjects9 high school adolescents, and creative adults. Tests included Kohlberg8s Moral dilemmas and Guilford's Product Improvement Task. A trend analysis was conducted to reveal whether or not a curvilinear relationship existed between the independent variable (Moral Maturity Stages) and the de~ pe dent variable (creativity performance under each level). Curvilinear trends were observed in two out of four creativity subscales but were not statistically significant. It was concluded that these contradictory findings were due to the relatively small number of subjects tested, the narrow range or moral judgment scores, and the limited conception of creativity defined by the creativity measure used (The Product Improvement Task). It was suggested that an instrument assessing an identity status would be most useful as well as a creativity measure better suited for a theory of creativity essentially developmental in perspective.

I must walk through the gate : an ontological necessity

This research is a self-study into my life as an athlete, elementary school teacher, leamer, and as a teacher educator/academic. Throughout the inquiry, I explore how my beliefs and values infused my lived experiences and ultimately influenced my constructivist, humanist, and ultimately my holistic teaching and learning practice which at times disrupted the status quo. I have written a collection of narratives (data generation) which embodied my identity as an unintelligent student/leamer, a teacher/learner, an experiential learner, a tenacious participant, and a change agent to name a few. As I unpack my stories and hermeneutically reconstruct their intent, I question their meaning as I explore how I can improve my teaching and learning practice and potentially effect positive change when instructing beginning teacher candidates at a Faculty of Education. At the outset I situate my story and provide the necessary political, social, and cultural background information to ground my research. I follow this with an in depth look at the elements that interconnect the theoretical framework of this self-study by presenting the notion of writing at the boundaries through auto ethnography (Ellis, 2000; Ellis & Bochner, 2004) and writing as a method of inquiry (Richardson, 2000). The emergent themes of experiential learning, identity, and embodied knowing surfaced during the data generation phase. I use the Probyn' s (1990) .. metaphor of locatedness to unpack these themes and ponder the question, Where is experience located? I deepen the exploration by layering Drake's (2007) KnowlDo/Be framework alongside locatedness and offer descriptions of learning moments grounded in pedagogical theories. In the final phase, I introduce thirdspace theory (Bhabha, 1994; Soja, 1996) as a space that allowed me to puzzle educational dilemmas and begin to reconcile the binaries that existed in my life both personally, and professionally. I end where I began by revisiting the questions that drove this study. In addition, Ireflect upon the writing process and the challenges that I encountered while immersed in this approach and contemplate the relevance of conducting a self-study. I leave the reader with what is waiting for me on the other side of the gate, for as Henry James suggested, "Experience is never limited, and it is never complete."