Detection of correlation characteristics between financial time series based on multi-resolution analysis

Interactions between financial time series are complex and changeable in both time and frequency domains. To reveal the evolution characteristics of the time-varying relations between bivariate time series from a multi-resolution perspective, this study introduces an approach combining wavelet analysis and complex networks. In addition, to reduce the influence the phase lag between the time series has on the correlations, we propose dynamic time-warping (DTW) correlation coefficients to reflect the correlation degree between bivariate time series. Unlike previous studies that symbolized the time series only based on the correlation strength, the second-level symbol is set according to the correlation length during the coarse-graining process. This study presents a novel method to analyze bivariate time series and provides more information for investors and decision makers when investing in the stock market. We choose the closing prices of two stocks in China’s market as the sample and explore the evolutionary behavior of correlation modes from different resolutions. Furthermore, we perform experiments to discover the critical correlation modes between the bull market and the bear market on the high-resolution scale, the clustering effect during the financial crisis on the middle-resolution scale, and the potential pseudo period on the low-resolution scale. The experimental results exactly match reality, which provides powerful evidence to prove that our method is effective in financial time series analysis.     

Pull out of FRP reinforcement from masonry pillars: Experimental and numerical results

In this paper, debonding phenomena between carbon fiber reinforced polymer (CFRP) strips and masonry support were investigated on the basis of single-lap shear tests, considering different dimensions of the bond length. To capture the post-peak response of the CFRP–masonry joint, the slip between the support and the reinforcement strip was controlled using a clip gauge positioned at the end of the reinforcement. The tests were simulated by means of a finite element model able to capture the post-peak snap-back behavior due to the failure process. The numerical model is based on zero-thickness interface elements and on a proper non-linear cohesive law. The comparison between experimental and numerical results was performed in terms of overall response, measured by both the machine stroke and the clip gauge positioned at the free end of the reinforcement. The cases of effective bond length greater and lesser than the minimum anchorage length, suggested by the CNR Italian recommendation, were considered.     

Application of Vis–NIR hyperspectral imaging in classification between fresh and frozen-thawed pork Longissimus Dorsi muscles

Fresh and frozen-thawed (F-T) pork meats were classified by Vis–NIR hyperspectral imaging. Eight optimal wavelengths (624, 673, 460, 588, 583, 448, 552 and 609 nm) were selected by successive projections algorithm (SPA). The first three principal components (PCs) obtained by principal component analysis (PCA) accounted for over 99.98% of variance. Gray-level-gradient co-occurrence matrix (GLGCM) was applied to extract 45 textural features from the PC images. The correct classification rate (CCR) was employed to evaluate the performance of the partial least squares-discriminate analysis (PLS-DA) models, by using (A) the reflected spectra at full wavelengths and (B) those at the optimal wavelengths, (C) the extracted textures based on the PC images, and (D) the fused variables combining spectra at the optimal wavelengths and textures. The results showed that the best CCR of 97.73% was achieved by applying (D), confirming the high potential of textures for fresh and F-T meat discrimination.     

动态高压微射流处理对方竹笋膳食纤维理化及结构特性的影响

以方竹笋中提取的膳食纤维为研究对象，采用动态高压微射流（dynamic high-pressure micro-fluidization, DHPM）在不同压力条件（0，50，100，150，200 MPa）下进行处理，探究其对竹笋膳食纤维（bamboo shoots dietary fiber, BSDF）理化和结构特性的影响。结果表明，随着处理压力的增大，BSDF粒径先增大后减小，当处理压力为150 MPa时，粒径最小，为（370±11） nm，此条件下BSDF的持水力、持油力和膨胀力达到最大，较对照组分别提高了47.74%，50.54%，61.27%，且差异显著（P<0.05）。红外光谱分析表明DHPM处理不会改变BSDF的官能团，但会使BSDF内部的部分氢键断裂和半纤维素、木质素等发生降解；X射线衍射和热重分析表明DHPM处理不会引起BSDF的晶体结构改变，但晶体有序度会下降，进而导致其热稳定性降低；微观结构分析显示DHPM处理会使BSDF颗粒尺寸减小、表面粗糙、组织松散，且当处理压力为200 MPa时，颗粒发生团聚。综上，DHPM可以有效改善BSDF的理化性质，在膳食纤维改性方面具有一定的应用价值。     

Challenges in the CO2 emissions of the Turkish power sector: Evidence from a two-level decomposition approach

Decarbonization of the energy system is urgent to avert the disruptions in the climate. Considering its share, the low carbon transition of the power sector is pivotal. Growing electricity demand poses unique challenges for Turkey to enact deep decarbonization. It is vital to uncover the contributing causes of emissions to provide strategic oversight for carbon management activities. This study investigates key drivers of CO₂ emissions from the power sector using the Logarithmic Mean Divisia Index decomposition method. While efficiency improvement contributes to sustainable yet minor mitigation, changes in the fossil-fuel share indicate a cycling but significant overall impact.     

膨胀剂对约束条件下UHPC早期抗裂性能影响的试验研究

超高性能混凝土(UHPC)在钢桥面铺装结构中由于铺装材料受到钢板、栓钉等的约束,加上材料本身水胶比小,更易收缩,早期容易承受拉应力导致开裂。通过在拌和过程中添加膨胀剂可以起到减小收缩的作用,但该方法对于约束条件下的UHPC铺装的早期抗裂性能提升是否有促进作用,仍需通过更多试验进行合理评估和深入研究。通过圆环法对3组不同配方的UHPC在均匀约束条件下的早期抗裂性能进行定量测试,并将试验数据进行回归分析和计算,得到了各组的平均应力发展速率,进而评估了各组的开裂风险等级。试验结果表明,通过在UHPC中加入适量膨胀剂,可使其最终收缩应力减小,并可降低其收缩应力发展速率,进一步降低其在约束条件下的开裂风险。     

Model Selection for Unsupervised Learning of Visual Context

This study addresses the problem of choosing the most suitable probabilistic model selection criterion for unsupervised learning of visual context of a dynamic scene using mixture models. A rectified Bayesian Information Criterion (BICr) and a Completed Likelihood Akaike’s Information Criterion (CL-AIC) are formulated to estimate the optimal model order (complexity) for a given visual scene. Both criteria are designed to overcome poor model selection by existing popular criteria when the data sample size varies from small to large and the true mixture distribution kernel functions differ from the assumed ones. Extensive experiments on learning visual context for dynamic scene modelling are carried out to demonstrate the effectiveness of BICr and CL-AIC, compared to that of existing popular model selection criteria including BIC, AIC and Integrated Completed Likelihood (ICL). Our study suggests that for learning visual context using a mixture model, BICr is the most appropriate criterion given sparse data, while CL-AIC should be chosen given moderate or large data sample sizes.     

埋地管道在冻土带的热力变形分析

埋地油气管道通过永冻土地带时,由于管内介质与周围的冻土发生了热力作用,使冰土解冻,在管道周围形成融化圈。文章分析了永冻土的特点,建立了永冻土地带土壤传热数学模型:融化圈内外传热方程、管道向土壤和土壤表面向大气所放热量的守恒关系、融化圈界面处土壤温度、相变界面处固相变为液相的传热条件。还建立了埋地管道模型,并以穿过永冻土地带土壤的输油管道为例,分析并计算了各种应力的最大值所在的位置和大小,提出了在永冻土地带减小管道热力变形的措施。     

我国上市公司股票评级研究——财务结构模型分析法在股票市场中的应用

目前,我国股票市场上的股票评级尚处于探索阶段,评级时多采用专家法或历史法,而对于影响股票评级的各因素的确定以及因素间的相互作用缺乏定量分析。研究将结构模型应用到我国股票市场的股票评级中,建立关于我国股票评级的财务结构模型;分析各个因素对股票评级的影响;建立股票评级经验模式值。