Caracterização dos retornos e das volatilidades de ativos financeiros do mercado Brasileiro : uma abordagem baseada na volatilidade realizada

The goal of this paper is twofold. First, using five of the most actively traded stocks in the Brazilian financial market, this paper shows that the normality assumption commonly used in the risk management area to describe the distributions of returns standardized by volatilities is not compatible with volatilities estimated by EWMA or GARCH models. In sharp contrast, when the information contained in high frequency data is used to construct the realized volatilies measures, we attain the normality of the standardized returns, giving promise of improvements in Value at Risk statistics. We also describe the distributions of volatilities of the Brazilian stocks, showing that the distributions of volatilities are nearly lognormal. Second, we estimate a simple linear model to the log of realized volatilities that differs from the ones in other studies. The main difference is that we do not find evidence of long memory. The estimated model is compared with commonly used alternatives in an out-of-sample experiment.

Modelagem dinâmica e simulação computacional de poços de petróleo verticais e direcionais com elevação por bombeio mecânico

LINS, Filipe C. A. et al. Modelagem dinâmica e simulação computacional de poços de petróleo verticais e direcionais com elevação por bombeio mecânico. In: CONGRESSO BRASILEIRO DE PESQUISA E DESENVOLVIMENTO EM PETRÓLEO E GÁS, 5. 2009, Fortaleza, CE. Anais... Fortaleza: CBPDPetro, 2009.

Estado nutricional antropométrico, perfil lipídico e consumo alimentar como fatores de risco para doença cardiovascular em adolescentes

The dyslipidemia and excess weight in adolescents, when combined, suggest a progression of risk factors for cardiovascular disease (CVD). Besides these, the dietary habits and lifestyle have also been considered unsuitable impacting the development of chronic diseases. The study objectives were: (1) estimate the prevalence of lipid profile and correlate with body mass index (BMI), waist circumference (WC) and waist / height ratio (WHR) in adolescents, considering the maturation sexual, (2) know the sources of variance in the diet and the number of days needed to estimate the usual diet of adolescents and (3) describe the dietary patterns and lifestyle of adolescents, family history of CVD and age correlates them with the patterns of risk for CVD, adjusted for sexual maturation. A cross-sectional study was performed with 432 adolescents, aged 10-19 years from public schools of the Natal city, Brazil. The dyslipidemias were evaluated considering the lipid profile, the index of I Castelli (TC / HDL) and II (LDL / HDL) and non-HDL cholesterol. Anthropometric indicators were BMI, WC and WHR. The intake of energy, nutrients including fiber, fatty acids and cholesterol was estimated from two 24-hour recalls (24HR). The variables of lipid profile, anthropometric and clinical data were used in the models of Pearson correlation and linear regression, considering the sexual maturation. The variance ratio of the diet was calculated from the component-person variance, determined by analysis of variance (ANOVA). The definition of the number of days to estimate the usual intake of each nutrient was obtained by taking the hypothetical correlation (r) ≥ 0.9, between nutrient intake and the true observed. We used the principal component analysis as a method of extracting factors that 129 accounted for the dependent variables and known cardiovascular risk obtained from the lipid profile, the index for Castelli I and II, non-HDL cholesterol, BMI, and WC the WHR. Dietary patterns and lifestyle were obtained from the independent variables, based on nutrients consumed and physical activity weekly. In the study of principal component analysis (PCA) was investigated associations between the patterns of cardiovascular risk factors in dietary patterns and lifestyle, age and positive family history of CVD, through bivariate and multiple logistic regression adjusted for sexual maturation. The low HDL-C dyslipidemia was most prevalent (50.5%) for adolescents. Significant correlations were observed between hypercholesterolemia and positive family history of CVD (r = 0.19, p <0.01) and hypertriglyceridemia with BMI (r = 0.30, p <0.01), with the CC (r = 0.32, p <0.01) and WHR (r = 0.33, p <0.01). The linear model constructed with sexual maturation, age and BMI explained about 1 to 10.4% of the variation in the lipid profile. The sources of variance between individuals were greater for all nutrients in both sexes. The reasons for variances were  1 for all nutrients were higher in females. The results suggest that to assess the diet of adolescents with greater precision, 2 days would be enough to R24h consumption of energy, carbohydrates, fiber, saturated and monounsaturated fatty acids. In contrast, 3 days would be recommended for protein, lipid, polyunsaturated fatty acids and cholesterol. Two cardiovascular risk factors as have been extracted in the ACP, referring to the dependent variables: the standard lipid profile (HDL-C and non-HDL cholesterol) and "standard anthropometric index (BMI, WC, WHR) with a power explaining 75% of the variance of the original data. The factors are representative of two independent variables led to dietary patterns, "pattern 130 western diet" and "pattern protein diet", and one on the lifestyle, "pattern energy balance". Together, these patterns provide an explanation power of 67%. Made adjustment for sexual maturation in males remained significant variables: the associations between puberty and be pattern anthropometric indicator (OR = 3.32, CI 1.34 to 8.17%), and between family history of CVD and the pattern lipid profile (OR = 2.62, CI 1.20 to 5.72%). In females adolescents, associations were identified between age after the first stage of puberty with anthropometric pattern (OR = 3.59, CI 1.58 to 8.17%) and lipid profile (OR = 0.33, CI 0.15 to 0.75%). Conclusions: The low HDL-C was the most prevalent dyslipidemia independent of sex and nutritional status of adolescents. Hypercholesterolemia was influenced by family history of CVD and sexual maturation, in turn, hypertriglyceridemia was closely associated with anthropometric indicators. The variance between the diets was greater for all nutrients. This fact reflected in a variance ratio less than 1 and consequently in a lower number of days requerid to estimate the usual diet of adolescents considering gender. The two dietary patterns were extracted and the pattern considered unhealthy lifestyle as healthy. The associations were found between the patterns of CVD risk with age and family history of CVD in the studied adolescents

Estimativa da área foliar de crotalaria juncea l. a partir de dimensões lineares do limbo foliar

Knowledge of the leaf area plant are needed for agronomic and physiological studies involving plant growth. The aim of this study was to obtain a mathematical model using linear measures of leaf dimensions, which will allow the estimation of leaf area of Crotalaria juncea L. Correlation studies were conducted involving real leaf area (Sf) and leaf length (C), maximum leaf width (L) and the product between C and L. All tested models (linear, exponential or geometric) provided good estimation of leaf area (above 87%). The better fit was attained using linear model, passing or not through the origin. From a practical viewpoint, it is suggested to use the linear model involving the C and L product, using a linear coefficient equal to zero. Estimation of leaf area of Crotalaria juncea L. can be obtained using the model Sf = 0.7160 x (C*L) with a determination coefficient of 0.9712.

Preparação e carcterização de complexos multicomponentes contendo ciclodextrinas e benznidazol

The benznidazole (BNZ) is the only alternative for Chagas disease treatment in Brazil. This drug has low solubility, which restricts its dissolution rate. Thus, the present work aimed to study the BNZ interactions in binary systems with beta cyclodextrin (β-CD) and hydroxypropyl-beta cyclodextrin (HP-β-CD), in order to increase the apparent aqueous solubility of drug. The influence of seven hydrophilic polymers, triethanolamine (TEA) and 1-methyl-2- pyrrolidone (NMP) in benznidazole apparent aqueous solubility, as well as the formation of inclusion complexes was also investigated. The interactions in solution were predicted and investigated using phase solubility diagram methodology, nuclear magnetic resonance of protons (RMN) and molecular modeling. Complexes were obtained in solid phase by spray drying and physicochemical characterization included the UV-Vis spectrophotometric spectroscopy in the infrared region, scanning electron microscopy, X-ray diffraction and dissolution drug test from the different systems. The increment on apparent aqueous solubility of drug was achieved with a linear type (AL) in presence of both cyclodextrins at different pH values. The hydrophilic polymers and 1-methyl-2-pyrrolidone contributes to the formation of inclusion complexes, while the triethanolamine decreased the complex stability constant (Kc). The log-linear model applied for solubility diagrams revealed that both triethanolamine and 1-methyl-2-pyrrolidone showed an action cosolvent (both solvents) and complexing (1-methyl-2-pyrrolidone). The best results were obtained with complexes involving 1-methyl-2-pyrrolidone and hydroxypropylbeta- cyclodextrin, with an increased of benznidazole solubility in 27.9 and 9.4 times, respectively. The complexes effectiveness was proven by dissolution tests, in which the ternary complexes and physical mixtures involving 1-methyl- 2-pyrrolidone and both cyclodextrins investigated showed better results, showing the potential use as novel pharmaceutical ingredient, that leads to increased benznidazole bioavailability

Whole-genome analysis for backfat thickness in a tropically adapted, composite cattle breed from Brazil

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Mating system of a population of Myracrodruon urundeuva F.F. & M.F. Allemão using the fAFLP molecular marker

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Predição do Consumo Voluntário do Capim-Tanzânia (Panicum maximum, J. cv. tanzânia), sob Pastejo, por Vacas em Lactação, a partir das Características de Degradação

O consumo de matéria seca (CMS) do capim tanzânia de 24 vacas lactantes mestiças (HPB x Gir) e Gir, sob pastejo, foi estimado no mês de janeiro de 1998, a partir da relação entre a digestibilidade da MS da forragem e a produção fecal obtida com auxílio do cromo mordente por meio de um modelo não-linear. Os resultados do consumo estimado foram comparados aos consumos preditos por diferentes equações baseadas nos dados de degradabilidade do capim, no rúmen. A pastagem foi manejada com taxa de lotação de dois animais/ha, em sistema de pastejo rotativo com três dias de ocupação do piquete e 39 dias de descanso. Foram utilizadas para predizer o CMS diferentes equações: CMS = -1,19 + 0,035 (a+ b) + 28,5c (1), CMS = -0,822 + 0,0748 (a+ b) + 40,7c (2), CMS = -8,286 + 0,266a + 0,102b +17,696c (3) e CMS = [%FDN na MS]* [consumo de FDN ] / [(1-a-b)/K P +b/(c+ k p)]/24] (4). As equações, em geral, subestimaram o consumo obtido no modelo não-linear (9,6 kg/vaca/dia). Os consumos médios de capim de 6,2 e 6,0 kg MS/vaca/dia obtidas, respectivamente, nas equações de (2) e (4) foram semelhantes entre si e inferiores ao das equações de (1) (12,7 kg/vaca/dia) e (3) (8,1 kg/vaca/dia). A predição do consumo de forrageiras tropicais, sob pastejo, utilizando-se as equações baseadas nas variáveis da degradação in situ, constitui um importante potencial para estas avaliações. Entretanto, mais estudos dessa natureza devem ser realizados para validar o uso destas equações na prática.

Estimativa da ingestão voluntária a partir das características de degradação do capim-coastcross (Cynodon dactylon L. Pers.), sob pastejo, por vacas em lactação

O consumo de matéria seca (CMS) do capim-coastcross, sob pastejo, de vacas lactantes mestiças (HPB x Gir) e Gir, foi calculado a partir da relação entre a digestibilidade in vitro da MS (DIVMS) da forragem (extrusa colhida com animais esôfago- fistulados) e a produção fecal obtida com auxílio do cromo mordante por meio de um modelo não-linear. A pastagem foi manejada com uma taxa de lotação de 1,6 e 3,2 animais/ha, respectivamente para as épocas seca e chuvosa do ano, num sistema de pastejo rotativo com três dias de ocupação e 27 dias de descanso. Quatro diferentes equações baseadas em variáveis de degradação ruminal foram utilizadas para predizer o consumo de MS: CMS = -1,19 + 0,035 (a+ b) + 28,5c (1), CMS = -0,822 + 0,0748 (a+ b) + 40,7c (2), CMS = -8,286 + 0,266a + 0,102b +17,696c (3) e CMS = [%FDN na MS]* [consumo de FDN ] / [(1-a-b)/K P +b/(c+ k p)]/24] (4). Os dados observados utilizando as equações 1 e 2 (12,2 e 12,7 kg/vaca/dia respectivamente) foram similares entre si e superiores aos resultados obtidos na equação 4 (7,8 kg/vaca/dia). Já o resultado obtido pela equação 3 (5,5 kg/vaca/dia) foi menor do que aqueles determinados pelas outras equações, subestimando o CMS calculado a partir do cromo mordante (6,3 kg/vaca/dia). A predição do consumo de forrageiras tropicais sob pastejo, utilizando equações baseadas nas variáveis de degradação, constitui um importante potencial para estas avaliações. Entretanto, mais estudos devem ser realizados antes de se usarem estas equações na prática.

Genetic associations of sexual precocity with growth traits and visual scores of conformation, finishing, and muscling in Nelore cattle

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Genetic parameters and relationships between heifers rebreeding and hip height in Nellore cattle

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Associação genética da prenhez aos 16 meses com o peso à desmama e o ganho de peso em animais da raça Nelore

Objetivou-se verificar a possibilidade de utilização da prenhez de novilhas aos 16 meses (Pr16) como critério de seleção e as possíveis associações genéticas entre prenhez em novilhas aos 16 meses e o peso à desmama (PD) e o ganho de peso médio da desmama ao sobreano (GP). Foram realizadas análises uni e bicaracterísticas para estimação dos componentes de co-variância, empregando-se um modelo animal linear para peso à desmama e ganho de peso da desmama ao sobreano e não-linear para Pr16. A estimação dos componentes de variância e da predição dos valores genéticos dos animais foi realizada por Inferência Bayesiana. Distribuições flat foram utilizadas para todos os componentes de co-variância. As estimativas de herdabilidade direta para Pr16, PD e GP foram 0,50; 0,24 e 0,15, respectivamente, e a estimativa de herdabilidade materna para o PD, de 0,07. As correlações genéticas foram -0,25 e 0,09 entre Pr16, PD e GP, respectivamente, e a correlação genética entre Pr16 e o efeito genético materno do PD, de 0,29. A herdabilidade da prenhez aos 16 meses indica que essa característica pode ser utilizada como critério de seleção. As correlações genéticas estimadas indicam que a seleção por animais mais pesados à desmama, a longo prazo, pode diminuir a ocorrência de prenhez aos 16 meses de idade. Além disso, a seleção para maior habilidade materna favorece a seleção de animais mais precoces. No entanto, a seleção para ganho de peso da desmama ao sobreano não leva a mudanças genéticas na precocidade sexual em fêmeas.

Genetic associations of conformation, finishing precocity and muscling visual scores with mature weight in Nelore cattle

Were estimate (co)variance and genetic associations between conformation, finishing precocity and muscling visual scores measured at weaning (SCW, SFW and SMW, respectively) and yearling (SCY. SFY and SMY, respectively) with mature weight (MW) in Nelore cows, in order to predict the possible changes that inclusion of visual scores in beef cattle selection indices would bring to female mature weight. The data set contained records of 36,757 females, born between 1993 and 2006, belonging to the Jacarezinho cattle raising farm. (Co)variance components were estimated by bivariate animal models using Bayesian inference method through Gibbs sampling, assuming a linear model for MW and a nonlinear (threshold) model for conformation, finishing precocity and muscling visual scores. The first 10,000 rounds were considered as the burn-in period and discarded. The posterior means of direct heritability distributions were: 0.16 +/- 0.02 (SCW); 0.20 +/- 0.02 (SFW); 0.19 +/- 0.02 (SMW); 0.24 +/- 0.02 (SCY); 0.31 +/- 0.02 (SFY); 0.32 +/- 0.02 (SMY) and 0.46 +/- 0.04 (MW). Estimates of genetic correlations between visual scores and MW were positive and moderate, ranging from 0.27 +/- 0.06 to 0.36 +/- 0.04. Visual scores and MW should respond favorably to direct selection. Mature weight can be used in Nelore breeding programs designed to monitor the cows' size. Selection of animals with higher conformation, finishing precocity and muscling scores, especially at yearling, should promote an increase in cows' mature weight. (c) 2010 Elsevier B.V. All rights reserved.

Genetic parameters for an alternative criterion to improve productive longevity of Nellore cows

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Genetic associations between stayability and reproductive and growth traits in Canchim beef cattle

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)