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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that "knowledge is power‚" (Nickels &‚McHugh 2011) “Insider trading is an unethical activity in which insiders use private company information to further their own fortunes or those of their families or friends”. Pg.101 Insider trading is a term that includes both legal and illegal conduct. The legal version is when corporate insiders—officers‚ directors‚ and employees—buy and sell stock in their own companies. Illegal insider trading refers generally to buying or selling a security‚ in breach
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Intro Abuse Risk Activities Policy Chapter 9 Trading and Speculation Jon Danielsson © 2009‚ 2010‚ 2011‚ 2012 LSE Michaelmas Term 2012 Intro Abuse Risk Activities Policy Introduction Intro Abuse Risk Activities Policy Speculation Force for good and force for bad • Speculators help farmers to plan production • And traders to threaten the financial system • There is no clear definition • But generally investment is long–term‚ speculation
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Trading and Exchanges FINANCIAL MANAGEMENT ASSOCIATION Survey and Synthesis Series The Search for Value: Measuring the Company’s Cost of Capital Michael C. Ehrhardt Managing Pension Plans: A Comprehensive Guide to Improving Plan Performance Dennis E. Logue and Jack S. Rader Efficient Asset Management: A Practical Guide to Stock Portfolio Optimization and Asset Allocation Richard O. Michaud Real Options: Managing Strategic Investment in an Uncertain World Martha Amram and Nalin Kulatilaka Beyond
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Stock Trading master the fundamentals by teaching yourself to: Get ready for the opening bell. Stock trading isn’t for the weak of stomach: it’s a fast-paced‚ risky‚ and exciting approach to making money in the markets. Before you place your first order‚ • Understand the difference between stock investing and stock trading • Evaluate various trading styles and decide which (if any) is right for you • Utilize popular trading strategies‚ including basic technical analysis Stock Trading vs.
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Trading place is a good movie that talks about the differences between classes in society‚ as well as the negative aspects in the actual life of rich and poor people in American society. The film takes place in the socio-cultural conflict when the two main characters come from two different classes on culture‚ communication and be inverted their lives to each other. The story brought to many humor situations but has a high value for everyone ponders. The film is led by the two main characters that
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Philippine International Trading Corporation (PITC)‚ a line corporation under the Department of Trade and Industry (DTI)‚ is a self-sustaining government corporation operating under its Revised Charter‚ Presidential Decree (PD) 1071 (1077) as amended. Since its establishment in 1973 as the government’s only international trading corporation‚ Philippine International Trading Corporation (PITC)‚ has been in the forefront of the Government’s economic agenda on market expansion‚ global competitiveness
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PAIR TRADING STRATEGIES Presented by: Industry Guide: Faculty Guide: Anand Agrawal - 09206 Sulagn Patanaik - 09150 Mr. Vivek Gupta Prof. Devi Prasad Bedari & Dr. Jaba M. Gupta Company: CapitalVia Global Research Ltd. Road Map About CapitalVia Why Pair Trading? Project Objective Scope What is Pair Trading? Methodology Strategy Analysis Observations Findings Limitations Future Scope Pair Trading 1 November 2010 CapitalVia Global Research Ltd. Investment advisory firm Stock tips Commodity
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EXECUTIVE SUMMARY ………………………………………………………………..2 PAIRS TRADING: INTRODUCTION……………………………………………………..3 KEY CHARACTERISTICS………………………………………………………………….5 INSTRUMENTS USED FOR PAIRS TRADING ………………………………………...8 STRATEGY …………………………………………………………………………………10 TESTING FOR MEAN REVERSION ……………………………………………………10 PAIRS TRADING MODEL ………………………………………………………………..11 a. Screening for Pairs b. Trading Rules c. Risk Management d. Risk involved STEPS IN PAIR TRADING ……………………………………………………………….14 CASES ………………………………………………………………………………………
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Trading Mechanism in National Stock Exchange 1. Introduction 1.1 Meaning of Trading Mechanism The trading mechanism in the stock exchange is based on a transaction between a buyer‚ seller‚ and a trading specialist who actually executes transactions in a stock exchange. In general‚ the trading mechanism is similar to a simple auction‚ with investors biddng on a particular stock or security. If the bid is accepted by the owner of the security‚ the trading specialist executes the sale. Most major
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