Collective Origin of the Coexistence of Apparent RMT Noise and Factors in Large Sample Correlation Matrices

Through simple analytical calculations and numerical simulations, we demonstrate the generic existence of a self-organized macroscopic state in any large multivariate system possessing non-vanishing average correlations between a finite fraction of all pairs of elements. The coexistence of an eigenvalue spectrum predicted by random matrix theory (RMT) and a few very large eigenvalues in large empirical correlation matrices is shown to result from a bottom-up collective effect of the underlying time series rather than a top-down impact of factors. Our results, in excellent agreement with previous results obtained on large financial correlation matrices, show that there is relevant information also in the bulk of the eigenvalue spectrum and rationalize the presence of market factors previously introduced in an ad hoc manner.Comment: 4 pages with 3 figur

Self-Consistent Asset Pricing Models

We discuss the foundations of factor or regression models in the light of the self-consistency condition that the market portfolio (and more generally the risk factors) is (are) constituted of the assets whose returns it is (they are) supposed to explain. As already reported in several articles, self-consistency implies correlations between the return disturbances. As a consequence, the alpha's and beta's of the factor model are unobservable. Self-consistency leads to renormalized beta's with zero effective alpha's, which are observable with standard OLS regressions. Analytical derivations and numerical simulations show that, for arbitrary choices of the proxy which are different from the true market portfolio, a modified linear regression holds with a non-zero value $\alpha_i$ at the origin between an asset $i$'s return and the proxy's return. Self-consistency also introduces ``orthogonality'' and ``normality'' conditions linking the beta's, alpha's (as well as the residuals) and the weights of the proxy portfolio. Two diagnostics based on these orthogonality and normality conditions are implemented on a basket of 323 assets which have been components of the S&P500 in the period from Jan. 1990 to Feb. 2005. These two diagnostics show interesting departures from dynamical self-consistency starting about 2 years before the end of the Internet bubble. Finally, the factor decomposition with the self-consistency condition derives a risk-factor decomposition in the multi-factor case which is identical to the principal components analysis (PCA), thus providing a direct link between model-driven and data-driven constructions of risk factors.Comment: 36 pages with 8 figures. large version with 6 appendices for the Proceedings of the 5th International Conference APFS (Applications of Physics in Financial Analysis), June 29-July 1, 2006, Torin

New Upper Limit of Terrestrial Equivalence Principle Test for Rotating Extended Bodies

Improved terrestrial experiment to test the equivalence principle for rotating extended bodies is presented, and a new upper limit for the violation of the equivalence principle is obtained at the level of 1.6$10^{\text{-7}}$, which is limited by the friction of the rotating gyroscope. It means the spin-gravity interaction between the extended bodies has not been observed at this level.Comment: 4 page

Testing the Principle of Equivalence by Solar Neutrinos

We discuss the possibility of testing the principle of equivalence with solar neutrinos. If there exists a violation of the equivalence principle quarks and leptons with different flavors may not universally couple with gravity. The method we discuss employs a quantum mechanical phenomenon of neutrino oscillation to probe into the non-universality of the gravitational couplings of neutrinos. We develop an appropriate formalism to deal with neutrino propagation under the weak gravitational fields of the sun in the presence of the flavor mixing. We point out that solar neutrino observation by the next generation water Cherenkov detectors can improve the existing bound on violation of the equivalence principle by 3-4 orders of magnitude if the nonadiabatic Mikheyev-Smirnov-Wolfenstein mechanism is the solution to the solar neutrino problem.Comment: Latex, 17 pages + 6 uuencoded postscript figures, KEK-TH-396, TMUP-HEL-9402 (unnecessary one reference was removed

Prevalence and Predictors of Urinary Tract Infection and Severe Malaria Among Febrile Children Attending Makongoro Health Centre in Mwanza City, North-Western Tanzania.

In malaria endemic areas, fever has been used as an entry point for presumptive treatment of malaria. At present, the decrease in malaria transmission in Africa implies an increase in febrile illnesses related to other causes among underfives. Moreover, it is estimated that more than half of the children presenting with fever to public clinics in Africa do not have a malaria infection. Thus, for a better management of all febrile illnesses among under-fives, it becomes relevant to understand the underlying aetiology of the illness. The present study was conducted to determine the relative prevalence and predictors of P. falciparum malaria, urinary tract infections and bacteremia among under-fives presenting with a febrile illness at the Makongoro Primary Health Centre, North-Western Tanzania. From February to June 2011, a cross-sectional analytical survey was conducted among febrile children less than five years of age. Demographic and clinical data were collected using a standardized pre-tested questionnaire. Blood and urine culture was done, followed by the identification of isolates using in-house biochemical methods. Susceptibility patterns to commonly used antibiotics were investigated using the disc diffusion method. Giemsa stained thin and thick blood smears were examined for any malaria parasites stages. A total of 231 febrile under-fives were enrolled in the study. Of all the children, 20.3% (47/231, 95%CI, 15.10-25.48), 9.5% (22/231, 95%CI, 5.72-13.28) and 7.4% (17/231, 95%CI, 4.00-10.8) had urinary tract infections, P. falciparum malaria and bacteremia respectively. In general, 11.5% (10/87, 95%CI, 8.10-14.90) of the children had two infections and only one child had all three infections. Predictors of urinary tract infections (UTI) were dysuria (OR = 12.51, 95% CI, 4.28-36.57, P < 0.001) and body temperature (40-41 C) (OR = 12.54, 95% CI, 4.28-36.73, P < 0.001). Predictors of P. falciparum severe malaria were pallor (OR = 4.66 95%CI, 1.21-17.8, P = 0.025) and convulsion (OR = 102, 95% CI, 10-996, P = 0.001). Escherichia coli were the common gram negative isolates from urine (72.3%, 95% CI, 66.50-78.10) and blood (40%, 95%CI, and 33.70-46.30). Escherichia coli from urine were 100% resistant to ampicillin, 97% resistant to co-trimoxazole, 85% resistant to augmentin and 32.4% resistant to gentamicin; and they were 100%, 91.2% and 73.5% sensitive to meropenem, ciprofloxacin and ceftriaxone respectively. Urinary tract infection caused by multi drug resistant Escherichia coli was the common cause of febrile illness in our setting. Improvement of malaria diagnosis and its differential diagnosis from other causes of febrile illnesses may provide effective management of febrile illnesses among children in Tanzania

Quantum fluctuations for drag free geodesic motion

The drag free technique is used to force a proof mass to follow a geodesic motion. The mass is protected from perturbations by a cage, and the motion of the latter is actively controlled to follow the motion of the proof mass. We present a theoretical analysis of the effects of quantum fluctuations for this technique. We show that a perfect drag free operation is in principle possible at the quantum level, in spite of the back action exerted on the mass by the position sensor.Comment: 4 pages, 1 figure, RevTeX, minor change

Models of quintessence coupled to the electromagnetic field and the cosmological evolution of alpha

We study the change of the effective fine structure constant in the cosmological models of a scalar field with a non-vanishing coupling to the electromagnetic field. Combining cosmological data and terrestrial observations we place empirical constraints on the size of the possible coupling and explore a large class of models that exhibit tracking behavior. The change of the fine structure constant implied by the quasar absorption spectra together with the requirement of tracking behavior impose a lower bound of the size of this coupling. Furthermore, the transition to the quintessence regime implies a narrow window for this coupling around $10^{-5}$ in units of the inverse Planck mass. We also propose a non-minimal coupling between electromagnetism and quintessence which has the effect of leading only to changes of alpha determined from atomic physics phenomena, but leaving no observable consequences through nuclear physics effects. In doing so we are able to reconcile the claimed cosmological evidence for a changing fine structure constant with the tight constraints emerging from the Oklo natural nuclear reactor.Comment: 13 pages, 10 figures, RevTex, new references adde

Constraints on the Variations of the Fundamental Couplings

We reconsider several current bounds on the variation of the fine-structure constant in models where all gauge and Yukawa couplings vary in an interdependent manner, as would be expected in unified theories. In particular, we re-examine the bounds established by the Oklo reactor from the resonant neutron capture cross-section of 149Sm. By imposing variations in \Lambda_{QCD} and the quark masses, as dictated by unified theories, the corresponding bound on the variation of the fine-structure constant can be improved by about 2 orders of magnitude in such theories. In addition, we consider possible bounds on variations due to their effect on long lived \alpha- and \beta-decay isotopes, particularly 147Sm and 187Re. We obtain a strong constraint on \Delta \alpha / \alpha, comparable to that of Oklo but extending to a higher redshift corresponding to the age of the solar system, from the radioactive life-time of 187Re derived from meteoritic studies. We also analyze the astrophysical consequences of perturbing the decay Q values on bound state \beta-decays operating in the s-process.Comment: 25 pages, latex, 5 eps figure

First narrow-band search for continuous gravitational waves from known pulsars in advanced detector data

Spinning neutron stars asymmetric with respect to their rotation axis are potential sources of continuous gravitational waves for ground-based interferometric detectors. In the case of known pulsars a fully coherent search, based on matched filtering, which uses the position and rotational parameters obtained from electromagnetic observations, can be carried out. Matched filtering maximizes the signalto- noise (SNR) ratio, but a large sensitivity loss is expected in case of even a very small mismatch between the assumed and the true signal parameters. For this reason, narrow-band analysis methods have been developed, allowing a fully coherent search for gravitational waves from known pulsars over a fraction of a hertz and several spin-down values. In this paper we describe a narrow-band search of 11 pulsars using data from Advanced LIGO’s first observing run. Although we have found several initial outliers, further studies show no significant evidence for the presence of a gravitational wave signal. Finally, we have placed upper limits on the signal strain amplitude lower than the spin-down limit for 5 of the 11 targets over the bands searched; in the case of J1813-1749 the spin-down limit has been beaten for the first time. For an additional 3 targets, the median upper limit across the search bands is below the spin-down limit. This is the most sensitive narrow-band search for continuous gravitational waves carried out so far