scholarly journals O Ouro Atua Como Hedge ou Valor Refúgio Diante de Desvalorizações da BM&FBOVESPA?

2017 ◽  
Vol 14 (4) ◽  
pp. 579
Author(s):  
Leonardo Oliveira Penna De Carvalho ◽  
Ademir Luis Teles Brito ◽  
Malu Brandão Moura ◽  
Eliane Silva Conceição ◽  
Eliane Silva Conceição ◽  
...  
Keyword(s):  
Mutual Funds ◽  
Performance Measure ◽  
Behavioral Performance ◽  
Investment Horizon ◽  
Average Performance ◽  
Significant Difference ◽  
The Usa ◽  
The Mean ◽  
Omega Measure

This work has analyzed the performance of 31 behavioral mutual funds in the USA, Europe and Japan described in Santoni and Kelshiker (2010). Were observed the performances of the funds and their respective benchmarks in four indicators: the Sharpe index, Sortino Index, Omega Measure and the Behavioral Performance Measure. The horizon of analysis was 10 years (Jan/04 to Dec/14) divided in intervals of 6, 12, 36, 60 and 120 months. Based on the consolidation of indicators the funds were ranked and classified into three bands of performance: top, middle and bottom. In the interval of 120 months there was, in general, no significant (5%) difference in the average performance between the funds and the benchmarks. The analysis by intervals indicated that the performance of the funds in relation to the benchmarks worsen as the investment horizon increases. In shorter intervals (6 and 12 months) there was, in average, a significant difference in performance while in longer maturities (36 and 60 months) the average performance of the funds was significantly lower than the benchmarks. In the mean of all intervals the average performance of the funds was significantly lower than the benchmarks

scholarly journals Fundos Comportamentais possuem Desempenho Superior? Uma Análise baseada em Evidências Internacionais

2017 ◽  
Vol 14 (4) ◽  
pp. 479
Author(s):  
Robson Costa Reis ◽  
Marcelo Cabus Klotzle ◽  
Antonio Carlos Figueiredo Pinto ◽  
Leonardo Lima Gomes
Keyword(s):  
Mutual Funds ◽  
Performance Measure ◽  
Behavioral Performance ◽  
Investment Horizon ◽  
Average Performance ◽  
Significant Difference ◽  
The Usa ◽  
The Mean ◽  
Omega Measure

This work has analyzed the performance of 31 behavioral mutual funds in the USA, Europe and Japan described in Santoni and Kelshiker (2010). Were observed the performances of the funds and their respective benchmarks in four indicators: the Sharpe index, Sortino Index, Omega Measure and the Behavioral Performance Measure. The horizon of analysis was 10 years (Jan/04 to Dec/14) divided in intervals of 6, 12, 36, 60 and 120 months. Based on the consolidation of indicators the funds were ranked and classified into three bands of performance: top, middle and bottom. In the interval of 120 months there was, in general, no significant (5%) difference in the average performance between the funds and the benchmarks. The analysis by intervals indicated that the performance of the funds in relation to the benchmarks worsen as the investment horizon increases. In shorter intervals (6 and 12 months) there was, in average, a significant difference in performance while in longer maturities (36 and 60 months) the average performance of the funds was significantly lower than the benchmarks. In the mean of all intervals the average performance of the funds was significantly lower than the benchmarks

Lee Acculturation Dream Scale for Korean-American College Students

2005 ◽  
Vol 96 (2) ◽  
pp. 454-456 ◽  
Author(s):  
Sang Bok Lee
Keyword(s):  
College Students ◽  
South Korea ◽  
Korean American ◽  
T Test ◽  
Korean Immigrant ◽  
Men And Women ◽  
Significant Difference ◽  
The Usa ◽  
The Mean ◽  
Dream Narratives

This study examined acculturation as represented in dream narratives of 165 Korean immigrant college students living in the USA. A total of 165 dreams were collected and evaluated using the Lee Acculturation Dream Scale, for which locations of dream contents were coded. 39% of the dreams took place in South Korea, while 38% were in the USA. Also, 16% of the dreams included both locations, whereas 7% had no specific dream location. The dreams contained overlapping dream messages, images, scenes, and interactions in both South Korea and the USA. A two-sample t test on the mean scores of the Lee Acculturation Dream Scale indicated no significant difference between men and women.

A PERFORMANCE ANALYSIS OF DOLLAR-COST AVERAGING AND SELF-ANNUITIZATION

2019 ◽  
Vol 14 (04) ◽  
pp. 1950017
Author(s):  
RICHARD LU ◽  
MENG-SUNG HSIEH
Keyword(s):  
Economic Performance ◽  
Cash Flows ◽  
Performance Measure ◽  
Rate Of Return ◽  
Return Volatility ◽  
Investment Horizon ◽  
Internal Rate Of Return ◽  
Negative Skewness ◽  
Return Distributions ◽  
The Mean

The return and risk of dollar-cost averaging (DCA) and self-annuitization (SA) investing are compared with the underlying return in this paper. The underlying return, which is assumed to be normally distributed, is generated by Monte Carlo simulations under six market scenarios including upward and mean reverting markets across several investment horizons. Owing to the multiple cash flows of DCA and SA, the annual internal rate of return is used to measure the DCA and SA returns. The results show that the mean return of DCA is slightly higher than the underlying return, while the SA is lower, particularly under short investment horizons. Both DCA and SA produce higher return volatility and riskiness than the underlying return. They also create negative skewness and excess kurtosis for the return distributions. For comparing their performances, we use the economic performance measure which can consider those high moments of distribution. Except for the mean reverting market, the underlying return is the best performer, while SA is the worst. This evidence becomes even clearer and convincing as the investment horizon increases. DCA can have lower riskiness and perform better only under the mean reverting market.

Vowel Recognition Threshold as a Function of Temporal Segmentations

1970 ◽  
Vol 13 (4) ◽  
pp. 715-724 ◽  
Author(s):  
Richard L. Powell ◽  
Oscar Tosi
Keyword(s):  
Normal Hearing ◽  
Recognition Threshold ◽  
Vowel Sound ◽  
Significant Difference ◽  
The Mean ◽  
Vowel Recognition ◽  
Temporal Segment

Vowels were segmented into 15 different temporal segments taken from the middle of the vowel and ranging from 4 to 60 msecs, then presented to 6 subjects with normal hearing. The mean temporal-segment recognition threshold of 15 msecs with a range from 9.3 msecs for the /u/ to 27.2 milliseconds for the /a/. Misidenti-fication of vowels was most often confused with the vowel sound adjacent to it on the vowel-hump diagram. There was no significant difference between the cardinal and noncardinal vowels.

Left Ventricular Dysfunction and Blood Glycohemoglobin Levels in Young Diabetics

1991 ◽  
Vol 30 (05) ◽  
pp. 183-188
Author(s):  
A. Aydrner ◽  
A. Oto ◽  
E. Oram ◽  
O. Gedik ◽  
C. F. Bekdik ◽  
...  
Keyword(s):  
Ejection Fraction ◽  
Left Ventricular Function ◽  
Ventricular Function ◽  
Left Ventricular ◽  
Diabetic Patients ◽  
Filling Fraction ◽  
Time To Peak ◽  
Significant Difference ◽  
The Mean ◽  
Hba1c Levels

Left ventricular function including regional wall motion (RWM) was evaluated by 99mTc first-pass and equilibrium gated blood pool ventriculography and glycohemoglobin (HbA1c) blood levels determined by a quantitative column technique in 25 young patients with insulin-dependent diabetes mellitus without clinical evidence of heart disease, and in healthy controls matched for age and sex. Phase analysis revealed abnormal RWM in 19 of 21 diabetic patients. The mean left ventricular global ejection fraction, the mean regional ejection fraction and the mean 1/3 filling fraction were lower and the time to peak ejection, the time to peak filling and the time to peak ejection /cardiac cycle were longer in diabetics than in controls. We found high HbA1c levels in all diabetics. There was no significant difference between patients with and without retinopathy and with and without peripheral neuropathy in terms of left ventricular function and HbA1c levels.

Detection of Circulating Tissue Factor and Factor VII in a Normal Population

1996 ◽  
Vol 75 (05) ◽  
pp. 772-777 ◽  
Author(s):  
Sybille Albrecht ◽  
Matthias Kotzsch ◽  
Gabriele Siegert ◽  
Thomas Luther ◽  
Heinz Großmann ◽  
...  
Keyword(s):  
Tissue Factor ◽  
Normal Population ◽  
Mean Value ◽  
Factor Vii ◽  
Significant Difference ◽  
Age Dependent ◽  
The Mean ◽  
Highly Correlated ◽  
And Gender

SummaryThe plasma tissue factor (TF) concentration was correlated to factor VII concentration (FVIIag) and factor VII activity (FVIIc) in 498 healthy volunteers ranging in age from 17 to 64 years. Immunoassays using monoclonal antibodies (mAbs) were developed for the determination of TF and FVIIag in plasma. The mAbs and the test systems were characterized. The mean value of the TF concentration was 172 ± 135 pg/ml. TF showed no age- and gender-related differences. For the total population, FVIIc, determined by a clotting test, was 110 ± 15% and the factor VIlag was 0.77 ± 0.19 μg/ml. FVII activity was significantly increased with age, whereas the concentration demonstrated no correlation to age in this population. FVII concentration is highly correlated with the activity as measured by clotting assay using rabbit thromboplastin. The ratio between FVIIc and FVIIag was not age-dependent, but demonstrated a significant difference between men and women. Between TF and FVII we could not detect a correlation.

Multi-Center Study of Thromboplastin Calibration Precision – Influence of Reagent Species, Composition, and International Sensitivity Index (ISI)

1993 ◽  
Vol 69 (01) ◽  
pp. 035-040 ◽  
Author(s):  
A M H P van den Besselaar ◽  
R M Bertina
Keyword(s):  
Oral Anticoagulants ◽  
International Normalized Ratio ◽  
The Other ◽  
World Health ◽  
Rabbit Brain ◽  
Sensitivity Index ◽  
Bovine Plasma ◽  
Significant Difference ◽  
The Mean ◽  
International Sensitivity Index

SummaryFour thromboplastin reagents were tested by 18 laboratories in Europe, North-America, and Australasia, according to a detailed protocol. One thromboplastin was the International Reference Preparation for ox brain thromboplastin combined with adsorbed bovine plasma (coded OBT/79), and the second was a certified reference material for rabbit brain thromboplastin, plain (coded CRM 149R). The other two thromboplastin reagents were another rabbit plain brain thromboplastin (RP) with a lower ISI than CRM 149R and a rabbit brain thromboplastin combined with adsorbed bovine plasma (RC). Calibration of the latter two reagents was performed according to methods recommended by the World Health Organization (W. H. O.).The purpose of this study was to answer the following questions: 1) Is the calibration of the RC reagent more precise against the bovine/combined (OBT/79) than against the rabbit/plain reagent (CRM 149R)? 2) Is the precision of calibration influenced by the magnitude of the International Sensitivity Index (ISI)?The lowest inter-laboratory variation of ISI was observed in the calibration of the rabbit/plain reagent (RP) against the other rabbit/plain reagent (CRM 149R) (CV 1.6%). The highest interlaboratory variation was obtained in the calibration of rabbit/plain (RP) against bovine/combined (OBT/79) (CV 5.1%). In the calibration of the rabbit/combined (RC) reagent, there was no difference in precision between OBT/79 (CV 4.3%) and CRM 149R (CV 4.2%). Furthermore, there was no significant difference in the precision of the ISI of RC obtained with CRM 149R (ISI = 1.343) and the rabbit/plain (RP) reagent with ISI = 1.14. In conclusion, the calibration of RC could be performed with similar precision with either OBT/79 or CRM 149R, or RP.The mean ISI values calculated with OBT/79 and CRM 149R were practically identical, indicating that there is no bias in the ISI of these reference preparations and that these reference preparations have been stable since their original calibration studies in 1979 and 1987, respectively.International Normalized Ratio (INR) equivalents were calculated for a lyophilized control plasma derived from patients treated with oral anticoagulants. There were small but significant differences in the mean INR equivalents between the bovine and rabbit thromboplastins. There were no differences in the interlaboratory variation of the INR equivalents, when the four thromboplastins were compared.

Incubation Temperature Influences the Duration of Egg Hatching and Early Development in the Boreal Digging Frog, Kaloula Borealis

2020 ◽  
Vol 3 (1) ◽  
pp. ACCEPTED
Author(s):  
Rho-Jeong Rae
Keyword(s):  
Water Temperature ◽  
Early Life ◽  
Rainy Season ◽  
Incubation Temperature ◽  
Life Stages ◽  
Early Life Stages ◽  
Egg Hatching ◽  
Significant Difference ◽  
The Mean ◽  
Hatching Rates

This study investigated the boreal digging frog, Kaloula borealis, to determine the egg hatching period and whether the hatching period is affected by incubation temperature. The results of this study showed that all the eggs hatched within 48 h after spawning, with 28.1% (±10.8, n=52) hatching within 24 h and 99.9% (±0.23, n=49) within 48 h after spawning. A significant difference was noted in the mean hatching proportion of tadpoles at different water temperatures. The mean hatching rates between 15 and 24 h after spawning was higher at a water temperature of 21.1 (±0.2) °C than at 24.1 (±0.2) °C. These results suggest that incubation temperature affected the early life stages of the boreal digging frog, since they spawn in ponds or puddles that form during the rainy season.

OVARIAN ASCORBIC ACID DEPLETION TEST FOR LUTEINIZING HORMONE

1967 ◽  
Vol 56 (4) ◽  
pp. 619-625 ◽  
Author(s):  
Hans Jacob Koed ◽  
Christian Hamburger
Keyword(s):  
Ascorbic Acid ◽  
Luteinizing Hormone ◽  
Dose Response ◽  
Response Curve ◽  
Dose Response Curve ◽  
Human Origin ◽  
Response Curves ◽  
Significant Difference ◽  
The Mean ◽  
Different Levels

ABSTRACT Comparison of the dose-response curves for LH of ovine origin (NIH-LH-S8) and of human origin (IRP-HMG-2) using the OAAD test showed a small, though statistically significant difference, the dose-response curve for LH of human origin being a little flatter. Two standard curves for ovine LH obtained with 14 months' interval, were parallel but at different levels of ovarian ascorbic acid. When the mean ascorbic acid depletions were calculated as percentages of the control levels, the two curves for NIH-LH-S8 were identical. The use of standards of human origin in the OAAD test for LH activity of human preparations is recommended.

A COMPARISON OF TWO METHODS FOR MEASUREMENT OF ALDOSTERONE SECRETION RATE IN MAN

1966 ◽  
Vol 53 (2) ◽  
pp. 177-188 ◽  
Author(s):  
P. Lund-Johansen ◽  
T. Thorsen ◽  
K. F. Støa
Keyword(s):  
Urinary Excretion ◽  
Normal Subjects ◽  
Secretion Rate ◽  
Aldosterone Secretion ◽  
Simple Method ◽  
Mean Values ◽  
Pathological Conditions ◽  
Significant Difference ◽  
Derivative Method ◽  
The Mean

ABSTRACT A comparison has been made between (A), a relatively simple method for the measurement of aldosterone secretion rate, based on paper chromatography and direct densitometry of the aldosterone spot and (B) a more elaborate isotope derivative method. The mean secretion rate in 9 normal subjects was 112 ± 26 μg per 24 hours (method A) and 135 ± 35 μg per 24 hours (method B). The »secretion rate« in one adrenalectomized subject after the intravenous injection of 250 μg of aldosterone was 230 μg per 24 hours (method A) and 294 μg per 24 hours (method B). There was no significant difference in the mean values, and correlation between the two methods was good (r = 0.80). It is concluded that the densitometric method is suitable for clinical purposes as well as research, being more rapid and less expensive than the isotope derivative method. Method A also measures the urinary excretion of the aldosterone 3-oxo-conjugate, which is of interest in many pathological conditions. The densitometric method is obviously the less sensitive and a prerequisite for its use is an aldosterone secretion of 20—30 μg per 24 hours. Lower values are, however, rare in adults.

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