Portfolios and the market geometry

A geometric analysis of the time series of returns has been performed in the past and it implied that the most of the systematic information of the market is contained in a space of small dimension. Here we have explored subspaces of this space to find out the relative performance of portfolios formed from the companies that have the largest projections in each one of the subspaces. It was found that the best performance portfolios are associated to some of the small eigenvalue subspaces and not to the dominant directions in the distances matrix. This occurs in such a systematic fashion over an extended period (1990-2008) that it may not be a statistical accident.Comment: 13 pages 12 figure

A theorem regarding families of topologically non-trivial fermionic systems

We introduce a Hamiltonian for fermions on a lattice and prove a theorem regarding its topological properties. We identify the topological criterion as a $\mathbb{Z}_2-$ topological invariant $p(\textbf{k})$ (the Pfaffian polynomial). The topological invariant is not only the first Chern number, but also the sign of the Pfaffian polynomial coming from a notion of duality. Such Hamiltonian can describe non-trivial Chern insulators, single band superconductors or multiorbital superconductors. The topological features of these families are completely determined as a consequence of our theorem. Some specific model examples are explicitly worked out, with the computation of different possible topological invariants.Comment: 6 page

Finding a Spherically Symmetric Cosmology from Observations in Observational Coordinates -- Advantages and Challenges

One of the continuing challenges in cosmology has been to determine the large-scale space-time metric from observations with a minimum of assumptions -- without, for instance, assuming that the universe is almost Friedmann-Lema\^{i}tre-Robertson-Walker (FLRW). If we are lucky enough this would be a way of demonstrating that our universe is FLRW, instead of presupposing it or simply showing that the observations are consistent with FLRW. Showing how to do this within the more general spherically symmetric, inhomogeneous space-time framework takes us a long way towards fulfilling this goal. In recent work researchers have shown how this can be done both in the traditional Lema\^{i}tre-Tolman-Bondi (LTB) 3 + 1 coordinate framework, and in the observational coordinate (OC) framework. In this paper we investigate the stability of solutions, and the use of data in the OC field equations including their time evolution and compare both approaches with respect to the singularity problem at the maximum of the angular-diameter distance, the stability of solutions, and the use of data in the field equations. This allows a more detailed account and assessment of the OC integration procedure, and enables a comparison of the relative advantages of the two equivalent solution frameworks. Both formulations and integration procedures should, in principle, lead to the same results. However, as we show in this paper, the OC procedure manifests certain advantages, particularly in the avoidance of coordinate singularities at the maximum of the angular-diameter distance, and in the stability of the solutions obtained. This particular feature is what allows us to do the best fitting of the data to smooth data functions and the possibility of constructing analytic solutions to the field equations.Comment: 31 page