Pair trading: Clustering based on principal component analysis

This study focuses on the implementation of several pair trading strategies across three emerging markets, with the objective of comparing the results obtained from the different strategies and assessing if pair trading benefits from a more volatile environment. The results show that, indeed, there are higher potential profits arising from emerging markets. However, the higher excess return will be partially offset by higher transaction costs, which will be a determinant factor to the profitability of pair trading strategies. Also, a new clustering approach based on the Principal Component Analysis was tested as an alternative to the more standard clustering by Industry Groups. The new clustering approach delivers promising results, consistently reducing volatility to a greater extent than the Industry Group approach, with no significant harm to the excess returns.

Ausência de conexão atrioventricular à direita. Apresentação morfológica e clínica quando o ventrículo principal é morfologicamente direito

Ausência de conexão atrioventricular à direita com o ventrículo dominante, morfologicamente direito, colocado à esquerda, em conexão com o átrio esquerdo, é uma rara situação. Os autores apresentam cinco casos com esta disposição morfológica, salientando os aspectos anatômicos e clínicos, bem como a importância da nomenclatura baseada na análise segmentar seqüencial.

Florula bostoniensis. A collection of plants of Boston and its vicinity, with their generic and specific characters, principal synonyms, descriptions, places of growth, and time of flowering, and occasional remarks. By Jacob Bigelow ...

2nd ed.

The evolution of man : a popular exposition of the principal points of human ontogeny and phylogeny / From the German of Ernst Haeckel.

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The evolution of man : a popular exposition of the principal points of human ontogeny and phylogeny / From the German of Ernst Haeckel.

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The evolution of man: a popular exposition of the principal points of human ontogney phylogeny / From the German of Ernst Haeckel.

1

The principal-agent matching market

We propose a model based on competitive markets in order to analyze an economy with several principals and agents. We model the principal-agent economy as a two-sided matching game and characterize the set of stable outcomes of this principal-agent matching market. A simple mechanism to implement the set of stable outcomes is proposed. Finally, we put forward examples of principal-agent economies where the results fit into.

Las ideas de Marx llegan a la corriente principal de la economía

The paper first sets out simplified versions of recent mainstream papers which explain the rise of democracy in 19th century Europe and its instabliity in Latin America. Then it attempts to convince Marxists of the importance of these works for Marxist thought.