Foreign exchange volatility is priced in equities

This paper finds that standard asset pricing models fail to explain the significantly positive delta hedging errors from writing options on foreign exchange futures. Foreign exchange volatility does influence stock returns, however. The volatility of the JPY/USD exchange rate predicts the time series of stock returns and is priced in the cross-section of stock returns. Foreign exchange volatility risk might be priced because of its relation to foreign exchange level risk. ; Earlier title: Is foreign exchange delta hedging risk priced?Foreign exchange ; Assets (Accounting) ; Prices

Torque Ripple Sensor and Mitigation Mechanism

A torque ripple sensor and method for torque ripple sensing and/or mitigation. A piezoelectric sensor is positioned relative to a motor so that torque fluctuations due to torque ripple of the motor are transmitted to the sensor, resulting in strain of a piezoelectric element. A resulting signal can be amplified and conditioned for determining a magnitude of the torque ripple and/or fed into a feedback loop for applying current control or a counter-torque to the motor for torque ripple mitigation

Utilization of a Piezoelectric Polymer to Sense Harmonics of Electromagnetic Torque

In this paper, the use of a piezoelectric polymer material to measure the harmonics of electromagnetic torque produced by a permanent magnet synchronous machine is described. The advantages of the polymer include low cost, durability, and flexibility. In addition, wide-bandwidth sensors are relatively easy to design and couple to drive system hardware for harmonic evaluation or to use in feedback-based control. To illustrate the use of the polymer, the electrical and mechanical properties of three sensors are described. The results of time-domain simulation and hardware experiments are used to validate that the voltage obtained from the sensors is linearly related to the torque ripple produced by the machine

Measurement and Control of Torque Ripple-Induced Frame Torsional Vibration in a Surface Mount Permanent Magnet Machine

A sensor to measure the stator torsional vibration due to torque ripple produced by a surface mount permanent magnet machine is first described. The sensor is relatively inexpensive and is straight forward to incorporate into a drive system. Experiments are performed to validate that the voltage produced by the sensor is linearly related to torque ripple amplitude. Closed-loop controllers are then described that adjust the stator current harmonics applied to the machine to achieve a commanded average torque while mitigating measured torsional vibration. Simulation and experimental results are used to demonstrate the effectiveness of the control techniques

How to design a study to evaluate therapeutic drug monitoring in infectious diseases?

Background: Therapeutic drug monitoring (TDM) is a tool to personalize and optimize dosing by measuring the drug concentration and subsequently adjusting the dose to reach a target concentration or exposure. The evidence to support TDM is however often ranked as expert opinion. Limitations in study design and sample size have hampered definitive conclusions of the potential added value of TDM. Objectives: We aim to give expert opinion and discuss the main points and limitations of available data from antibiotic TDM trials and emphasize key elements for consideration in design of future clinical studies to quantify the benefits of TDM. Sources: The sources were peer-reviewed publications, guidelines and expert opinions from the field of TDM. Content: This review focuses on key aspects of antimicrobial TDM study design: describing the rationale for a TDM study, assessing the exposure of a drug, assessing susceptibility of pathogens and selecting appropriate clinical endpoints. Moreover we provide guidance on appropriate study design. Implications: This is an overview of different aspects relevant for the conduct of a TDM study. We believe that this paper will help researchers and clinicians to design and conduct high-quality TDM studies

Implications of extinction due to meteoritic smoke in the upper stratosphere

Recent optical observations of aerosols in the upper stratosphere and mesosphere show significant amounts of extinction at altitudes above about 40 km where the stratospheric sulfate aerosol layer ends. Recent modeling of this region reveals that meteoritic smoke settling from the mesosphere and its interaction with the upper part of the sulfate aerosol layer is the origin of the observed extinction. Extinction in this region has major implications for the interpretation and analysis of several kinds of aerosol data (satellite and lidar). We compare observations from the SAGE II satellite and from NOAA's lidar located at Mauna Loa, Hawaii to extinction profiles derived from the Whole Atmosphere Community Climate Model (WACCM) coupled with the Community Aerosol and Radiation Model for Atmospheres (CARMA). Our results show that a major source of extinction exists in the region above about 30 km that must be addressed by all remote sensing instruments that have traditionally used the stratosphere above about 30 km as an aerosol free region to estimate the molecular component of their total extinction. It is also shown that meteoritic smoke not only contributes to but also becomes the dominant source of aerosol extinction above 35 km and poleward of 30 degrees in latitude, as well as above 40 km in the tropics. After addressing the concerns described here, current and past observations of this region could be reanalyzed to further our understanding of meteoritic dust in the upper stratosphere

GeneWeaver: a web-based system for integrative functional genomics

High-throughput genome technologies have produced a wealth of data on the association of genes and gene products to biological functions. Investigators have discovered value in combining their experimental results with published genome-wide association studies, quantitative trait locus, microarray, RNA-sequencing and mutant phenotyping studies to identify gene-function associations across diverse experiments, species, conditions, behaviors or biological processes. These experimental results are typically derived from disparate data repositories, publication supplements or reconstructions from primary data stores. This leaves bench biologists with the complex and unscalable task of integrating data by identifying and gathering relevant studies, reanalyzing primary data, unifying gene identifiers and applying ad hoc computational analysis to the integrated set. The freely available GeneWeaver (http://www.GeneWeaver.org) powered by the Ontological Discovery Environment is a curated repository of genomic experimental results with an accompanying tool set for dynamic integration of these data sets, enabling users to interactively address questions about sets of biological functions and their relations to sets of genes. Thus, large numbers of independently published genomic results can be organized into new conceptual frameworks driven by the underlying, inferred biological relationships rather than a pre-existing semantic framework. An empirical ‘ontology’ is discovered from the aggregate of experimental knowledge around user-defined areas of biological inquiry

Position-dependent effects of locked nucleic acid (LNA) on DNA sequencing and PCR primers

Genomes are becoming heavily annotated with important features. Analysis of these features often employs oligonucleotides that hybridize at defined locations. When the defined location lies in a poor sequence context, traditional design strategies may fail. Locked Nucleic Acid (LNA) can enhance oligonucleotide affinity and specificity. Though LNA has been used in many applications, formal design rules are still being defined. To further this effort we have investigated the effect of LNA on the performance of sequencing and PCR primers in AT-rich regions, where short primers yield poor sequencing reads or PCR yields. LNA was used in three positional patterns: near the 5′ end (LNA-5′), near the 3′ end (LNA-3′) and distributed throughout (LNA-Even). Quantitative measures of sequencing read length (Phred Q30 count) and real-time PCR signal (cycle threshold, C(T)) were characterized using two-way ANOVA. LNA-5′ increased the average Phred Q30 score by 60% and it was never observed to decrease performance. LNA-5′ generated cycle thresholds in quantitative PCR that were comparable to high-yielding conventional primers. In contrast, LNA-3′ and LNA-Even did not improve read lengths or C(T). ANOVA demonstrated the statistical significance of these results and identified significant interaction between the positional design rule and primer sequence