Equity Correlation Trading Silverio Foresi and Adrien Vesval Goldman Sachs NYU‚ April 2006 Outline • • • Equity Correlation: Definitions‚ Products and Trade Structures Rationale: Evidence and Models Opportunities: an Historical Perspective Correlation Products Building Blocks: Vol Products • Realized variance: RV • 1 = n ∑ T t =1 St (ln( )) S t −1 2 OTC products to trade realized variance: – Delta-hedged options (straddles) – Volatility swap – Variance swap
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Introductions and Conclusions Introductions and conclusions play a special role in the academic essay‚ and they frequently demand much of your attention as a writer. A good introduction should identify your topic‚ provide essential context‚ and indicate your particular focus in the essay. It also needs to engage your readers’ interest. A strong conclusion will provide a sense of closure to the essay while again placing your concepts in a somewhat wider context. It will also‚ in some instances
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Gear in Draw-works. Draw-works is the machine on the rig consisting of a large-diameter steel spool‚ brakes‚ a power source and assorted auxiliary devices. The primary function of the draw works is to reel out and reel in the drilling line‚ a large diameter wire rope‚ in a controlled fashion. The drilling line is reeled over the crown block and traveling block to gain mechanical advantage in a "block and tackle" or "pulley" fashion. This reeling out and in of the drilling line causes the traveling
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Coefficient of Linear Expansion Introduction With few exceptions materials expand somewhat when heated through a temperature range that does not produce a change in phase (i.e. melting‚ freezing‚ boiling etc.). The added heat increases the average amplitude of vibration of the atoms in the material‚ which increases the average separation between the atoms. Although this effect is small‚ it is very important in any application that involves using different materials in an environment where they
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1. Explain the legal status and principles of the EYFS‚ and explain how the curriculum is used in your setting. EYFS is a mandatory for all companies and schools which provide early years education. It involves some learning and development requirements as well as safeguarding and welfare. The Order of the Childcare Act (2006) establishes the requirement in regard with the learning and development area. In the other hand‚ the requirements of safeguarding and welfare are laid down by Regulations
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causation and correlation but there are also just as many differences. Causation is when one or more factors contribute to the effect. As said in the PowerPoint review‚ for example‚ if you switch a light switch on it causes the light turns on. The one factor of flipping the light switch on causes the effect of the light to turn on. Correlation is when two or more factors contribute to one effect. There is two different types of correlation. One type of correlation is high correlation which is when
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Conclusion Worksheet Instructions: Copy and paste the following text into a document or create a document that contains the same information. Respond to the following with complete sentences. 1. Copy and paste the introduction to your essay in the space below. King’s famous “Letter from Birmingham Jail‚” was written in response to a public statement of concern and caution issued by eight white religious leaders of the south. Even though King felt that they were men of “genuine good will‚” he didn’t
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Introduction The main theory of the experiment is that an object needs an amount of heat for it to change a unit mass by 1 degree in temperature. The objectives of the experiment are to determine the specific heat of metal specimens using the method of mixture‚ to measure the equipment properly‚ to carefully measure the temperature of the equipment‚ to be patient while waiting for the output of the experiment and to be precise in computing for the specific heat of the specimen. Theory Blanza
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http://www.mathsisfun.com/data/standard-normal-distribution-table.html (Z table) http://www.sjsu.edu/faculty/gerstman/StatPrimer/t-table.pdf (t table) Critical Values (Z) Level of Significance 1% 2% 4% 5% 10% Two Tailed ±2.56 ±2.32 ±2.05 ±1.96 ±1.64 Right tailed +2.32 +2.05 +1.75 +1.64 +1.28 Left tailed -2.32 -2.05 -1.75 -1.64 -1.28 Q1) A cinema hall has cold drinks fountain supplying Orange and Ditzy Colas. When the machine is turned on‚ it fills a 550ml cup with 500ml of the
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Useful Idioms for Lower-Intermediate to Advanced Students (Teacher’s Resource) My students often tell me that they want to learn idioms. But‚ in the past‚ I always found it difficult to find a list of idioms/phrases that was general enough to be useful for everyone. So‚ I finally broke down and made my own idiom and phrases list. Below is the result of hours of idiom compilation and writing. Item example: off the top of your head He asked me to tell him a joke‚ but I couldn’t think of
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