X-ray vs. Optical Variations in the Seyfert 1 Nucleus NGC 3516: A Puzzling Disconnectedness

We present optical broadband (B and R) observations of the Seyfert 1 nucleus NGC 3516, obtained at Wise Observatory from March 1997 to March 2002, contemporaneously with X-ray 2-10 keV measurements with RXTE. With these data we increase the temporal baseline of this dataset to 5 years, more than triple to the coverage we have previously presented for this object. Analysis of the new data does not confirm the 100-day lag of X-ray behind optical variations, tentatively reported in our previous work. Indeed, excluding the first year's data, which drive the previous result, there is no significant correlation at any lag between the X-ray and optical bands. We also find no correlation at any lag between optical flux and various X-ray hardness ratios. We conclude that the close relation observed between the bands during the first year of our program was either a fluke, or perhaps the result of the exceptionally bright state of NGC 3516 in 1997, to which it has yet to return. Reviewing the results of published joint X-ray and UV/optical Seyfert monitoring programs, we speculate that there are at least two components or mechanisms contributing to the X-ray continuum emission up to 10 keV: a soft component that is correlated with UV/optical variations on timescales >1 day, and whose presence can be detected when the source is observed at low enough energies (about 1 keV), is unabsorbed, or is in a sufficiently bright phase; and a hard component whose variations are uncorrelated with the UV/optical.Comment: 9 pages, AJ, in pres

Collective behavior of stock price movements in an emerging market

To investigate the universality of the structure of interactions in different markets, we analyze the cross-correlation matrix C of stock price fluctuations in the National Stock Exchange (NSE) of India. We find that this emerging market exhibits strong correlations in the movement of stock prices compared to developed markets, such as the New York Stock Exchange (NYSE). This is shown to be due to the dominant influence of a common market mode on the stock prices. By comparison, interactions between related stocks, e.g., those belonging to the same business sector, are much weaker. This lack of distinct sector identity in emerging markets is explicitly shown by reconstructing the network of mutually interacting stocks. Spectral analysis of C for NSE reveals that, the few largest eigenvalues deviate from the bulk of the spectrum predicted by random matrix theory, but they are far fewer in number compared to, e.g., NYSE. We show this to be due to the relative weakness of intra-sector interactions between stocks, compared to the market mode, by modeling stock price dynamics with a two-factor model. Our results suggest that the emergence of an internal structure comprising multiple groups of strongly coupled components is a signature of market development.Comment: 10 pages, 10 figure

Optimal Investment in the Development of Oil and Gas Field

Let an oil and gas field consists of clusters in each of which an investor can launch at most one project. During the implementation of a particular project, all characteristics are known, including annual production volumes, necessary investment volumes, and profit. The total amount of investments that the investor spends on developing the field during the entire planning period we know. It is required to determine which projects to implement in each cluster so that, within the total amount of investments, the profit for the entire planning period is maximum. The problem under consideration is NP-hard. However, it is solved by dynamic programming with pseudopolynomial time complexity. Nevertheless, in practice, there are additional constraints that do not allow solving the problem with acceptable accuracy at a reasonable time. Such restrictions, in particular, are annual production volumes. In this paper, we considered only the upper constraints that are dictated by the pipeline capacity. For the investment optimization problem with such additional restrictions, we obtain qualitative results, propose an approximate algorithm, and investigate its properties. Based on the results of a numerical experiment, we conclude that the developed algorithm builds a solution close (in terms of the objective function) to the optimal one

Long-Term X-ray Spectral Variability in Seyfert 1 Galaxies

Direct time-resolved spectral fitting has been performed on continuous RXTE monitoring of seven Seyfert 1 galaxies in order to study their broadband spectral variability and Fe K alpha variability characteristics on time scales of days to years. Variability in the Fe K alpha line is not detected in some objects but is present in others, e.g., in NGC 3516, NGC 4151 and NGC 5548 there are systematic decreases in line flux by factors of ~2-5 over 3-4 years. The Fe K alpha line varies less strongly than the broadband continuum, but, like the continuum, exhibits stronger variability towards longer time scales. Relatively less model-dependent broadband fractional variability amplitude (Fvar) spectra also show weaker line variability compared to the continuum variability. Comparable systematic long-term decreases in the line and continuum are present in NGC 5548. Overall, however, there is no evidence for correlated variability between the line and continuum, severely challenging models in which the line tracks continuum variations modified only by a light-travel time delay. Local effects such as the formation of an ionized skin at the site of line emission may be relevant. The spectral fitting and Fvar spectra both support spectral softening as continuum flux increases.Comment: Accepted for publication in ApJ. 29 page

Multiscaled Cross-Correlation Dynamics in Financial Time-Series

The cross correlation matrix between equities comprises multiple interactions between traders with varying strategies and time horizons. In this paper, we use the Maximum Overlap Discrete Wavelet Transform to calculate correlation matrices over different timescales and then explore the eigenvalue spectrum over sliding time windows. The dynamics of the eigenvalue spectrum at different times and scales provides insight into the interactions between the numerous constituents involved. Eigenvalue dynamics are examined for both medium and high-frequency equity returns, with the associated correlation structure shown to be dependent on both time and scale. Additionally, the Epps effect is established using this multivariate method and analyzed at longer scales than previously studied. A partition of the eigenvalue time-series demonstrates, at very short scales, the emergence of negative returns when the largest eigenvalue is greatest. Finally, a portfolio optimization shows the importance of timescale information in the context of risk management

The variable ionized absorber in the Seyfert 2 Mrk 348

We present the results of the analysis of the X-ray spectrum of the Seyfert 2 Mrk 348, observed by Suzaku and XMM-Newton. The overall spectrum of Mrk 348 can be described by a primary power law continuum seen through three layers of absorption, of which one is neutral and two are ionised. Comparing Suzaku (2008) and XMM-Newton (2002) observations we find variability of the X-ray spectral curvature. We suggest that the variability can be explained through the change of column density of both the neutral and one of the ionised absorbers, together with a variation of the ionisation level of the same absorber. We thus confirm one of the main features presented in past works, where intrinsic column density variability up to $\sim 10^{23}$~cm$^{-2}$ was observed on time scales of months. We also find that the photon index of the underlying power law continuum ($\Gamma \sim 1.8$) is in agreement with the previous observations of this Seyfert 2.Comment: 13 pages, 6 figure

X-ray Variability Characteristics of the Seyfert 1 Galaxy NGC 3783

We have characterized the energy-dependent X-ray variability properties of the Seyfert~1 galaxy NGC 3783 using archival XMM-Newton and Rossi X-ray Timing Explorer data. The high-frequency fluctuation power spectral density function (PSD) slope is consistent with flattening towards higher energies. Light curve cross correlation functions yield no significant lags, but peak coefficients generally decrease as energy separation of the bands increases on both short and long timescales. We have measured the coherence between various X-ray bands over the temporal frequency range of 6e-8 to 1e-4 Hz; this range includes the temporal frequency of the low-frequency power spectral density function (PSD) break tentatively detected by Markowitz et al. and includes the lowest temporal frequency over which coherence has been measured in any AGN to date. Coherence is generally near unity at these temporal frequencies, though it decreases slightly as energy separation of the bands increases. Temporal frequency-dependent phase lags are detected on short time scales; phase lags are consistent with increasing as energy separation increases or as temporal frequency decreases. All of these results are similar to those obtained previously for several Seyfert galaxies and stellar-mass black hole systems. Qualitatively, these results are consistent with the variability models of Kotov et al. and Lyubarskii, wherein the X-ray variability is due to inwardly propagating variations in the local mass accretion rate.Comment: Accepted for publication in The Astrophysical Journal, 2005, vol. 635, p. 180; version 2 has minor grammatical changes; 23 pages; uses emulateapj

Theory and Applications of Robust Optimization

In this paper we survey the primary research, both theoretical and applied, in the area of Robust Optimization (RO). Our focus is on the computational attractiveness of RO approaches, as well as the modeling power and broad applicability of the methodology. In addition to surveying prominent theoretical results of RO, we also present some recent results linking RO to adaptable models for multi-stage decision-making problems. Finally, we highlight applications of RO across a wide spectrum of domains, including finance, statistics, learning, and various areas of engineering.Comment: 50 page

Connection between the Accretion Disk and Jet in the Radio Galaxy 3C 111

We present the results of extensive multi-frequency monitoring of the radio galaxy 3C 111 between 2004 and 2010 at X-ray (2.4--10 keV), optical (R band), and radio (14.5, 37, and 230 GHz) wave bands, as well as multi-epoch imaging with the Very Long Baseline Array (VLBA) at 43 GHz. Over the six years of observation, significant dips in the X-ray light curve are followed by ejections of bright superluminal knots in the VLBA images. This shows a clear connection between the radiative state near the black hole, where the X-rays are produced, and events in the jet. The X-ray continuum flux and Fe line intensity are strongly correlated, with a time lag shorter than 90 days and consistent with zero. This implies that the Fe line is generated within 90 light-days of the source of the X-ray continuum. The power spectral density function of X-ray variations contains a break, with steeper slope at shorter timescales. The break timescale of 13 (+12,-6) days is commensurate with scaling according to the mass of the central black hole based on observations of Seyfert galaxies and black hole X-ray binaries (BHXRBs). The data are consistent with the standard paradigm, in which the X-rays are predominantly produced by inverse Compton scattering of thermal optical/UV seed photons from the accretion disk by a distribution of hot electrons --- the corona --- situated near the disk. Most of the optical emission is generated in the accretion disk due to reprocessing of the X-ray emission. The relationships that we have uncovered between the accretion disk and the jet in 3C 111, as well as in the FR I radio galaxy 3C 120 in a previous paper, support the paradigm that active galactic nuclei and Galactic BHXRBs are fundamentally similar, with characteristic time and size scales proportional to the mass of the central black holeComment: Accepted for publication in ApJ. 18 pages, 17 figures, 11 tables (full machine readable data-tables online in ApJ website