scholarly journals Equity Risk and Return across Hidden Market Regimes

Risks ◽  
2021 ◽  
Vol 9 (11) ◽  
pp. 188
Author(s):  
Dmitry A. Endovitsky ◽  
Viacheslav V. Korotkikh ◽  
Denis A. Khripushin
Keyword(s):  
Risk And Return ◽  
Day Trading ◽  
Equity Risk ◽  
Significant Difference ◽  
Trading Profits ◽  
Sample Data ◽  
Correlated Risks ◽  
Market Regime ◽  
Lagged Effects ◽  
Market Regimes

The key to understanding the dynamics of stock markets, particularly the mechanisms of their changes, is in the concept of the market regime. It is regarded as a regular transition from one state to another. Although the market agenda is never the same, its functioning regime allows us to reveal the logic of its development. The article employs the concept of financial turbulence to identify hidden market regimes. These are revealed through the ratio of the components, which describe single changes of correlated risks and volatility. The combinations of typical and atypical variates of correlational and magnitude components of financial turbulence allowed four hidden regimes to be revealed. These were arranged by the degree of financial turbulence, conceptually analyzed and assessed from the perspective of their duration. The empirical data demonstrated ETF day trading profits for S&P 500 sectors, covering the period of January 1998–August 2020, as well as day trade profits of the Russian blue chips within the period of October 2006–February 2021. The results show a significant difference in regard to the market performance and volatility, which depend on hidden regimes. Both sample data groups demonstrated similar contemporaneous and lagged effects, which allows the prediction of volatility jumps in the periods following atypical correlations.

Private Equity: Risk and Return Profile

2013 ◽  
pp. 345-362
Author(s):  
Axel Buchner ◽  
Arif Khurshed ◽  
Abdulkadir Mohamed
Keyword(s):  
Private Equity ◽  
Risk And Return ◽  
Equity Risk

scholarly journals Evaluation of use and cost of medical care of common lumbar disorders in Korea: cross-sectional study of Korean Health Insurance Review and Assessment Service National Patient Sample data

BMJ Open ◽  
2016 ◽  
Vol 6 (9) ◽  
pp. e012432 ◽  
Author(s):  
Yong-Jun Ahn ◽  
Joon-Shik Shin ◽  
Jinho Lee ◽  
Yoon Jae Lee ◽  
Me-Riong Kim ◽  
...  
Keyword(s):  
Health Insurance ◽  
Medical Care ◽  
Medication Cost ◽  
Billing Data ◽  
Cross Sectional ◽  
Patient Sample ◽  
Significant Difference ◽  
Sample Data ◽  
National Patient ◽  
Surgery Rates

ObjectivesTo assess medical care and costs of the 3 highest prevalence lumbar disorders—non-specific low back pain (nLBP), intervertebral disc disorder (IDD) and spinal stenosis (SS)—from national billing data to provide basic information for standards of appropriate management.DesignRetrospective analysis of National Health Insurance National Patient Sample data provided by the Korean Health Insurance Review and Assessment Service (HIRA).Setting2011 claims data from all medical institutions which filed billing statements to HIRA.ParticipantsA total of 135 561 patients with lumbar disorder who received medical services during 2011.Outcome measuresPatient characteristics, medical procedures, medication, cost, injection and surgery.ResultsIn the nLBP and IDD groups, the 50–59 age range had the highest prevalence, whereas prevalence increased with age in SS. All 3 groups showed a higher percentage in women. The average treatment cost was 196 552 KRW in the nLBP and 362 050 KRW in the IDD group, and highest in the SS group at 439 025 KRW. While in the nLBP group women spent more on medical expenses, in the other 2 groups men showed higher expenditure. Expenditure grew with age in the nLBP and SS groups, whereas that of the IDD group peaked in their 40s. Analgesics were used in 73.43% of patients with nLBP, 82.64% of patients with IDD and 86.46% of patients with SS, and opioids in 4.12% of patients with IDD and 5.36% of patients with SS. Surgery rates were highest in the SS group at 4.85%, with 0.9% for nLBP and 4.59% for IDD. The most frequent injection code was lumbar/caudal epidural nerve block. Expenditure and surgery rates were higher in the injection than in the non-injection subgroup in all 3 groups.ConclusionsPatterns of medical care of most frequent lumbar disorders from HIRA data showed significant difference between groups and provide a basic standard for future usual care guidelines linked with health policy and budget appropriation.

scholarly journals MONITORING OF EFFECTIVENESS OF SPIRONOLACTONE THERAPY AND ITS COMBINATIONS WITH FUROSEMIDE TO LIVER CIRRHOSIS AND ASCITES IN RSUP H. ADAM MALIK MEDAN

2018 ◽  
Vol 11 (13) ◽  
pp. 159
Author(s):  
Elliya Siswanti ◽  
Urip Harahap ◽  
Juwita Sembiring
Keyword(s):  
Liver Cirrhosis ◽  
Case Studies ◽  
Urine Sodium ◽  
Cross Sectional ◽  
Normal Value ◽  
Significant Difference ◽  
Sample Data ◽  
Better Than ◽  
Program Version

Objectives: Spironolactone and furosemide are diuretics used to treat liver cirrhosis with ascites, but not case studies have been found to distinguish the effects of spironolactone and its combination with furosemide in cases of cirrhosis accompanied by ascites. This study aims to determine the effectiveness of spironolactone therapy and its combination with furosemide to liver cirrhosis patients accompanied ascites.Methods: This research was done by cross-sectional prospective method. 26 patients in RSUP H Adam Malik Medan for 3 months were divided into two groups. The first group of nine patients, age between 39 and 65 years, was given spironolactone. The second group of 17 patients, age between 20 and 81 years, was given spironolactone combined with furosemide. The sample data were analyzed with statistics using Mann–Whitney U-test, SPSS program version 22.Result: Based on Mann–Whitney U statistic test, the value of Asymp. significance (2-tailed) 0.435 for urine Na/K at time, and Asymp. significance value (2-tailed) 0.628 24 h urine sodium examination, based on the value, it was concluded that there was no significant difference between spironolactone with its combination with furosemide. Even though the significant value were 0.628 mEq and 0.435 mEq (p>0.05).Conclusion: This study showed that the combination of spironolactone with furosemide was better than compared to spironolactone. Although there was not statistically significant difference if seen from the comparison of 24 h of urine sodium value with a normal value of 78 mEq.

scholarly journals THE INVESTIGATION INTO PRIMACY EFFECT ON STUDENT’S VOCABULARY MEMORIZATION

2019 ◽  
Vol 6 (1) ◽  
pp. 21-30
Author(s):  
Delli Sabudu
Keyword(s):  
Data Collection ◽  
First Grade ◽  
T Test ◽  
Primacy Effect ◽  
Foreign Languages ◽  
Primary Position ◽  
Significant Difference ◽  
Sample Data ◽  
Post Test ◽  
Experimental Group

This study aimed to examine whether primacy positions are more dominant in memorizing words, in other words, this study intends to test which ones are easier to remember words that are at the top or the beginning or words that are at the bottom or end in the word memorization list. In this study, the authors used a sample of first grade SMP Negeri I students. From a number of parallel classes the author takes the class as a sample. Data collection is done through tests in the form of a post-test. By using the t-test formula, the collected data is then analyzed to test the hypothesis whether there is a significant difference between the two groups of students who memorize the primacy position and the students who memorize the recency position. The experimental group gets a higher number in memorizing words in the primacy position in memorizing vocabulary. By using a two-tailed test, proved that Ho is rejected. For this reason, it is expected that teachers who teach English or other foreign languages can teach vocabulary by placing difficult words on the memorizing list in the top or primary position.

scholarly journals A Study of the Performance of Option Strategy Benchmark Index in Global Option Markets

2021 ◽  
Vol 50 (4) ◽  
pp. 439-472
Author(s):  
Byung Jin Kang ◽  
Cheoljun Eom ◽  
Woo Baik Lee ◽  
Uk Chang ◽  
Jong Won Park
Keyword(s):  
Emerging Markets ◽  
Trading Strategies ◽  
Options Markets ◽  
Option Markets ◽  
Option Trading ◽  
Significant Difference ◽  
Sample Data ◽  
Covered Call ◽  
Almost All ◽  
The Empirical Analysis

While most previous studies have analyzed the performance of the Option Strategy Benchmark Index (SBI) in a specific market such as S&P500 and KOSPI200, this study comprehensively investigates the performance of the option SBIs in nine global options markets in Europe, Asia, and Oceania. In the empirical analysis using the sample data from September 2008 to April 2019, the main results of this study are as follows. First, most of the option SBIs generally provide better performance than the simple buy-and-hold strategy, which is mainly due to a reduction in risk rather than improvement in returns. Second, the option SBIs based on straddle or protective put, one of the most popular option trading strategies, perform poorly in almost all markets, whereas the option SBIs based on covered call or (cash) covered put show relatively good performance. Finally, there is no significant difference in the performance of the option SBIs between markets in the same region or those with a similar level of development. However, we found significant differences in the performance of the option SBIs between Europe and Asia and developed and emerging markets.

scholarly journals ANALISIS VARIANS MULTIVARIAT TERHADAP RETURN DAN RISIKO PORTOFOLIO YANG DITENTUKAN DENGAN ELTON GRUEBER PADBERG MODEL PADA EMPAT KELOMPOK INDEKS (LQ 45, SRI-KEHATI, JII, DAN ISSI)

2018 ◽  
Vol 4 (1) ◽  
pp. 32-52
Author(s):  
Baiq Nurul Suryawati
Keyword(s):  
Stock Market ◽  
Stock Exchange ◽  
Risk Index ◽  
Risk And Return ◽  
Single Index ◽  
Index Model ◽  
Single Index Model ◽  
Significant Difference ◽  
The Difference ◽  
Individual Index

AbstractThis research emphasizes the difference between risk and return on four group of index, which are LQ 45, SRI KEHATI, JII and ISSI. Test of significance conduct by doing Analysis of Varians Multivariate. The Analysis of Varians Multivariate results more accurate than repeatedly t-test among group. EGP Model mostly explained as Single Index Model in various textbook. Thus, Single Index Model only clarified influence of a Single Market Index for Individual Index, EGP Model use Reward to Volatility (RVOL) for measuring excess return to systematic risk.  The results shows that after 15 years from sharia index introduce in Indonesian Stock Exchange, it shows significant difference between sharia index and conventional stock market. However, LQ 45 shows it persistence as high return high risk index consistently. The Analysis VariansMultivariate also shows SRI KEHATI, as an ethic businesses representative in Indonesian Stock Exchange as a weaker index. SRI KEHATI shows that various group portfolio form by EGP Model could not exceed JII performance. Therefore, it concludes that indexes provide by capital market to facilitise the preference of investor whereas,it is tremendously various. To invest in stock market, investor need to clarify their wants and needs. Whether their wants is to gain more return or to accommodate their risk, and their preferrence to invest in various kind of business or  certain business such as business based on ethic or faith.Keywords: Analysis of Varians Multivariate; Risk and Return; EGP Model; Indexes; LQ 45; Sri-Kehati; Jakarta Islamic Index (JII); and Indeks Saham Syariah Indonesia (ISSI)

scholarly journals Gender, Age and Locality Based Social Intelligence Differences of B.Ed. (Hons) Students

2019 ◽  
Vol IV (I) ◽  
pp. 145-149
Author(s):  
Asghar Ali ◽  
Iqbal Ahmad ◽  
Adnan Khan
Keyword(s):  
Public Sector ◽  
University Students ◽  
Significant Relationship ◽  
Social Intelligence ◽  
Design Data ◽  
Cross Sectional ◽  
Male And Female ◽  
Significant Difference ◽  
Sample Data ◽  
Effect Of Age

Social intelligence has increasingly caught the attention of researchers and scholars in the present times. This research aims at exploring difference in social intelligence mean of male and female university students. Secondly, it explores the effect of age and locality on social intelligence through cross-sectional research design. Data were collected from all (150) students enrolled in semester 8 and 4 BS education course in four public sector universities of Khyber Pakhtunkhwa (KP). 71 were female whereas 79 were male in the sample. Data were analysed based on ANOVA test and independent sample t-test through SPSS. The study found no significant difference on gender and locality. But there was a significant relationship related to age. The findings of this study demonstrated that social intelligence increases with age.

scholarly journals Application of multivariate analysis of vari-ance (MANOVA) to distance refractive vari-ability and mean distance refractive state

2006 ◽  
Vol 65 (2) ◽  
Author(s):  
S Abelman
Keyword(s):  
Multivariate Analysis ◽  
Analysis Of Variance ◽  
Refractive State ◽  
Experimental Trial ◽  
Level Of Confidence ◽  
Significant Difference ◽  
Sample Data ◽  
Before And After ◽  
Multiple Measurements

Refractive state can be regarded as a dynam-ic quantity. Multiple measurements of refractive state can be determined easily and rapidly on a number of different occasions using an autore-fractor. In an experimental trial undertaken by Gillan, a 30-year-old female was subjected to 30 autorefractor measurements each taken at vari-ous intervals before and after the instillation of Mydriacyl 1% (tropicamide) into her right eye. The purpose of this paper is to apply multivar-iate analysis of variance (MANOVA) to Gillan’s sample data in order to assess whether instillation of Mydriacyl into the eye affects variability of distance refractive state as well as mean distance refractive state as measured by an autorefractor. In  five  of  the  seven  cases  where  pairwise hypotheses  tests  were  performed,  it  is  con-cluded that at a 99% level of confidence there is no difference in variability of distance refrac-tive state before and after cycloplegia. In two of the three cases where MANOVA was applied, there is a significant difference at a 95% and at a 99% level of confidence in both variability of distance refractive state and mean distance refractive  state  with  and  without  cycloplegia.

KEBIJAKAN PEMBAYARAN DIVIDEN BERDASARKAN EPS, LEVERAGE DAN SIZE

2013 ◽  
Author(s):  
Yuhelmi Yuhelmi
Keyword(s):  
Firm Size ◽  
Capital Market ◽  
Stock Exchange ◽  
Secondary Data ◽  
Test Method ◽  
Test Results ◽  
Dividend Payout ◽  
Significant Difference ◽  
Sample Data ◽  
The Difference

This study aims to determine the difference in value Dividend Payout Ratio is based on EPS, leverage and firm size at the company listed in Indonesia Stock Exchange. The population is the company paying the dividends consistently over the period 2007-2009 and all taken as sample. Data used in this study is secondary data obtained from the Indonesian Capital Market of Directory (ICMD). Data processing is done by using the Kruskal-Wallis H test method because the data are not normally distributed. Based on the test results found a significant difference between the Dividend Payout Ratio companies that have high EPS with low EPS. Companies that have high EPS paying high dividend payout ratio than companies that have low EPS. The results also found no significant difference between the payment of Dividend Payout Ratio companies that have high leverage with companies that have low leverage, so also there is no difference between large-sized companies with a smaller company.

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