Vegetational Areas of Texas.

4 p

Aquilegia, Vol. 31 No. 5, Fall 2007, Newsletter of the Colorado Native Plant Society

https://epublications.regis.edu/aquilegia/1121/thumbnail.jp

Improving risk-adjusted performance in high frequency trading using interval type-2 fuzzy logic

In this paper, we investigate the ability of higher order fuzzy systems to handle increased uncertainty, mostly induced by the market microstructure noise inherent in a high frequency trading (HFT) scenario. Whilst many former studies comparing type-1 and type-2 Fuzzy Logic Systems (FLSs) focus on error reduction or market direction accuracy, our interest is predominantly risk-adjusted performance and more in line with both trading practitioners and upcoming regulatory regimes. We propose an innovative approach to design an interval type-2 model which is based on a generalisation of the popular type-1 ANFIS model. The significance of this work stems from the contributions as a result of introducing type-2 fuzzy sets in intelligent trading algorithms, with the objective to improve the risk-adjusted performance with minimal increase in the design and computational complexity. Overall, the proposed ANFIS/T2 model scores significant performance improvements when compared to both standard ANFIS and Buy-and-Hold methods. As a further step, we identify a relationship between the increased trading performance benefits of the proposed type-2 model and higher levels of microstructure noise. The results resolve a desirable need for practitioners, researchers and regulators in the design of expert and intelligent systems for better management of risk in the field of HFT

Lee Plumley

Photograph of Lee Plumley examining blue grama

Grass, Legume and Forb Cultivation

Photograph of white triodia (Triodia abescens) growing in a burrow ditch along a highway where it receives extra water. This grass is a palatable species adapted to low spots. TX-45, 453

Conservation Planning

Photograph of a crowd of 400 ranchers and farmers looking at grasses and other plants at the first stop on the Range Conservation Field Day held by the Association of Hill Country Soil Conservation Districts [SCD]. Soil Conservation Service [SCS] technician, B. W. Allred led the discussion on the tour. This pasture has been conservatively grazed and rested since March 15. Note the good grasses in the foreground. TX-46, 950

Grass, Legume and Forb Cultivation

Photograph of the hammermilling of blue grama seed harvested with a drum type seed stripper. About 11,000 pounds of blue grama seed (uncleaned) were harvested on the H. D. Cornell ranch this fall [i.e., 1950]. Cornell will use part of the seed on his ranch to reseed denuded areas and has purchased a drill. TX-47-380

Water Conservation; Water Erosion; Flooding and Prevention

Photograph of a part of Tornillo Flats, Big Bend National Park, where pitting was done last winter in strips [i.e., creating pits that can capture water and prevent runoff). Where the pits are, they caught the rain of 2.4 inches and it was absorbed. A thick cover of annuals, mostly 6-weeks grama resulted, with some seedlings of perennials that were seeded following pitting. The strips not pitted are badly crusted and almost no water penetrated the soil. The area is almost bare. TX-48, 178

Conservation Planning

Photograph of part of the crowd of 400 ranchers and farmers looking at range grasses at the Range Conservation Field Day held by the Association of Hill Country Soil Conservation Districts [SCD’s]. This pasture has been conservatively grazed for 5 years and rested since March 15. Note the excellent cover of little bluestem, Sideoats grama and other grasses. TX-46, 951

Cattle

Photograph of A. H. Hancock's cattle