fa01 Mike Dolan correlations between the main asset classes as

 

By Mike Dolan

LONDON | Wed Mar 9, 2011 2:01am EST

LONDON (Reuters) - Even as a truly unpredictable political event unfolds across the Arab world this year, global investors appear more comfortable than they have been for years in coping with the financial fallout.

That's not to say the viral unrest that has spread across the Middle East and North Africa since January is positive for world asset prices -- a sustained oil price spike clearly has the opposite effect on stocks and bonds alike.

But, unlike the existential threat to the entire financial system presented by the credit implosion of 2007 and 2008, investors can more easily price and discount the main economic fallout from the current unrest -- namely higher energy costs.

Take correlations between the main asset classes as a key indicator of market stress -- where lockstep movements between prices, so often indicative of violent herding, are denoted by a maximum coefficient of 1 and where zero shows no link at all.

One of the most striking features of the credit bubble -- both in its final throes and especially after it burst -- was a surge in correlations between major assets. Indiscriminate demand for risk and yield gave way to the polar opposite and this behavior persisted as the risk-on/risk-off metronome ticked back and forth over subsequent years.

The inability to quantify the systemic risks to the financial world saw investors stampede into cash; cash-like securities like top-rated, liquid U.S. Treasuries; and gold.

Everything else -- equities, corporate debt, most commodities, emerging markets, real estate, private equity, hedge funds -- suffered in tandem and correlations between these assets soared to near lock-step 1.0.

With U.S. cash and government securities one of the few beneficiaries, the dollar saw extreme negative correlations with most assets as it moved in the opposite direction.

NEAR-ZERO CORRELATIONS

So, it's curious then that in the midst of one of the most surprising and dramatic global political upheavals for years, financial markets appear to be unwinding those high-stress correlations and resuming more "normal" and diverse behavior.

The most dramatic illustration has been the steep drop over the past three months in a rolling 25-day correlation between percentage moves in oil and world stocks .MIWD00000PUS from as high as 0.75 to a barely significant -0.18 this week.

A simple explanation may be that oil's recent spike is no longer just part of a parallel commodities/equity reflation and growth trade but has now reached levels which crimp global demand and hence the equity of firms dependent on that.

But the drop in correlations is not confined to crude. The equivalent correlation between world stocks and the U.S. dollar .DXY, for example, has also dropped since December from a hugely negative -0.75 to less than -0.18.

Emerging market equity .MSCIEF correlations with oil and the dollar tell a similar story and even the link between emerging stocks and Wall Street is now below 0.5. Emerging market debt correlations with Wall Street stocks are close to zero.

If the ebbing of correlations is sustained, one conclusion is that a more "normal" investment environment may be returning -- one in which idiosyncratic differences between markets and assets return to importance and investors can diversify and spread their savings more broadly and with confidence again.

• 1
• 2
• Next

• The very damage inflicted by high crisis correlations on diversified funds -- such as classic models used by Harvard and Yale endowment funds -- has also accelerated the fund industry's move to more nimble and sophisticated strategies and away from index and benchmark targeting.

  Central to the shift is the growth of so-called Absolute Return funds, which effectively act like hedge funds with more limited risk taking but with similar ability to go long or short on securities and derivatives.

  The extent of this shift, and the expected returns driving it, were captured in a survey last year commissioned by asset manager Pioneer Investments of almost 500 European institutional investors with assets of some 2.65 trillion euros.

  More than 60 percent of investor groupings within the survey -- banks, insurance companies and pension funds -- said they were now opting for absolute returns strategies.

  With an ambitious mean annual return target of some 4.4 percent -- significantly higher than money market cash rates or top-rated bond yields -- and after one of the worst decades in 60 years for a mixed investment fund, the need to break from the herd has never been clearer.

  And the shift is global. Thomson Reuters' Lipper estimated absolute-return mutual funds were in excess of $140 billion in the final quarter of last year and U.S. asset managers Putnam reckon that could grow to as much as $1.5 trillion -- or 15 percent of the industry.

所有跟帖： 

• The world does need order, and that order needs maintenance. The -marketreflections- ♂ (8337 bytes) () 03/09/2011 postreply 14:33:00

• The central limit theorem predicts that a collection of objects -marketreflections- ♂ (3522 bytes) () 03/09/2011 postreply 14:35:43

• DYNAMICAL GROUPING IN COMPLEX SYSTEMS -marketreflections- ♂ (204 bytes) () 03/09/2011 postreply 14:49:12

• Using the Small and Singer “Correlates of War” Project data, Rob -marketreflections- ♂ (591 bytes) () 03/10/2011 postreply 14:49:34

• power law of war01 -marketreflections- ♂ (8021 bytes) () 03/10/2011 postreply 15:06:51

• 幂律分布表现为一条斜率为幂指数的负数的直线,这一线性关系是判断给定的实例中随机变量是否满足幂律的依据 -marketreflections- ♂ (6562 bytes) () 03/10/2011 postreply 15:20:56

• power-laws in terms of network degree distribution, -marketreflections- ♂ (5034 bytes) () 03/10/2011 postreply 15:28:54

• 对于Pareto定律，在成熟市场中，金融资产收益率的幂律分布其幂指数约等于3 -marketreflections- ♂ (1687 bytes) () 03/10/2011 postreply 15:36:58

• 陆君安 网络的幂律分布表明度大的节点还是有一定的数量，在网络中这些度大的节点称为Hub，虽然Hub节点在节点总数中只占极少数，但 -marketreflections- ♂ (17494 bytes) () 03/10/2011 postreply 15:42:44

• 博主回复：幂律分布均值和方差仍然可以定义，只不过幂律指数小于等于2时均值发散，指数小于等于3时方差发散。但是幂律分布由于其极不均 -marketreflections- ♂ (830 bytes) () 03/10/2011 postreply 15:57:56

• 每个无尺度网络都会有几个大的中心节点确定网络的拓扑结构。该拓扑结构决定了真实网络的结构稳定性、动态行为、稳健性（robustne -marketreflections- ♂ (0 bytes) () 03/10/2011 postreply 16:17:15

• 王成军：遭遇巨人——巴拉巴西的《linked》阅读笔记：每个无尺度网络都会有几个大的中心节点确定网络的拓扑结构。该拓扑结构决定了 -marketreflections- ♂ (12165 bytes) () 03/10/2011 postreply 16:19:16

• 拓扑势描述网络节点间的相互作用，将每个社区视为拓扑势场的局部高势区， 通过寻找被低势区域所分割的连通高势区域实现网络的社区划分 -marketreflections- ♂ (2118 bytes) () 03/11/2011 postreply 11:21:55

• 如果无限多的原子像士兵一样排起整齐的阵列，这就是完美的单晶。完美单晶的力学性质是比较简单的：它的强度非常高，称为理想强度 3。但 -marketreflections- ♂ (27489 bytes) () 03/11/2011 postreply 11:54:10

• Although the stock appears to be en route to its sixth gain in t -marketreflections- ♂ (489 bytes) () 03/11/2011 postreply 12:08:36

• SP500 is ONLY now sitting on the 50dma and it could all be an in -marketreflections- ♂ (12318 bytes) () 03/11/2011 postreply 17:39:00

• 戏法就在这个地方。购房人的老屋还没有卖到市场上，凭借把老屋抵押给银行而得以在市场上购入新房。如果还是以物易物的时代，任何人要买入 -marketreflections- ♂ (7325 bytes) () 03/11/2011 postreply 17:56:03

• 如果把几何形体的拓扑结构看作是完全柔软的，因为所有变形(同胚)会保持拓扑结构不变，而把解析簇看作是硬的，因为整体的结构都是固定的 -marketreflections- ♂ (1675 bytes) () 03/10/2011 postreply 20:10:41

• 切近的空间与整体拓扑结构 -marketreflections- ♂ (1657 bytes) () 03/10/2011 postreply 20:16:47

• Psychology Today and PsyBlog write about four things humans are -marketreflections- ♂ (3444 bytes) () 03/11/2011 postreply 05:22:54

• must01 Roberto Pedone stockpickr.com/3-market-leading-stocks-hea -marketreflections- ♂ (337 bytes) () 03/11/2011 postreply 09:04:13

• 庄朝晖 罗素悖论――哥德尔――弗协调逻辑――佛学浅谈,人思维：矢量场，坐标原点片面性 -marketreflections- ♂ (48291 bytes) () 03/11/2011 postreply 15:20:35

• 黎曼流形是具有黎曼度量的微分流形，换句话说，这个流形上有一个对称 正定 协变 二阶张量场， 亦即每一点处有一个2阶正定矩阵。给了 -marketreflections- ♂ (1786 bytes) () 03/11/2011 postreply 13:37:39

• netwar浪:德意志银行分析师阿兰-赫拉威尔2月23日将新浪股票评级从“持有”降为“卖出”。当日，新浪股价暴跌8.65%。 -marketreflections- ♂ (13663 bytes) () 03/11/2011 postreply 09:35:08

• G 天 （$E&!I8*） 的时间标度以内时，收益 率都符合幂指数为 ’ 的幂律分布， 说明这一分布具 有一定的时间标度不变性" -marketreflections- ♂ (2513 bytes) () 03/11/2011 postreply 10:57:14

• 周涛 集团 (clique)这个术语是生物和物理学家讨论网络问题时引入的 [ 11, 14 ] ,其对应的数学概念是完全子图。也 -marketreflections- ♂ (25046 bytes) () 03/11/2011 postreply 11:08:51

• 现实网络并非是完全随机的,而是具有小世界效应、幂律分布这两个重要的性质;势场，影响力开始以n次方迅速增加，但也随半径n次方和时间 -marketreflections- ♂ (3009 bytes) () 03/11/2011 postreply 11:18:34

• 方锦清 拓扑特性同时兼有点度、 点权和边. 权的3 种幂律分布, 且依赖于权重参数 -marketreflections- ♂ (2813 bytes) () 03/11/2011 postreply 12:35:01

• 进化是紧密的网络，生态是松散的网络。进化性的改变像是强力束缚的进程，非常类似于数学计算，甚或思维活动。在这种意义上，它是“理智的 -marketreflections- ♂ (6869 bytes) () 03/11/2011 postreply 14:40:11

• 粒子测不准原理,粒子是有机体一员，整体性,系统的状态的演化又由其哈密顿量（同时担当能量的角色）决定----在物理学中一般用H来表 -marketreflections- ♂ (7641 bytes) () 03/11/2011 postreply 14:52:48

• 基于拓扑结构的生物网络关键节点识别研究进展 -marketreflections- ♂ (20416 bytes) () 03/11/2011 postreply 15:07:20

• penrose: 哥德尔不完备性定理,图灵机 can't be made, limit of a logical system -marketreflections- ♂ (4434 bytes) () 03/11/2011 postreply 15:15:12

• 哈密顿系统的辛几何算法冯康 -marketreflections- ♂ (92 bytes) () 03/11/2011 postreply 15:43:54

• 所谓幂律，是说节点具有的连线数和这样的节点数目乘积是一个定值，也就是几何平均是定值，比如有10000个连线的大节点有10个，有1 -marketreflections- ♂ (2051 bytes) () 03/12/2011 postreply 08:31:59

• 熵的产生与相空间粗粒化 金融市场中幂律分布 -marketreflections- ♂ (530 bytes) () 03/12/2011 postreply 09:21:14

• ustc 如果粒子间的作用力与速度无关，则可以将中的动能项去掉。这是由于在这时动能项的贡献可以积分积)(2/)(12xmpxHN -marketreflections- ♂ (5296 bytes) () 03/12/2011 postreply 15:41:27

• 进行这样的随机游走，从哪一点出发才可以比较快地达到平衡分布呢? -marketreflections- ♂ (783 bytes) () 03/13/2011 postreply 10:19:05

• 振动量子数v=0的能量就是零点能E0，这是一种量子效应, 说明分子即使在无限接近0K时振动也不停息. 这是测不准原理的一种表现. -marketreflections- ♂ (2327 bytes) () 03/13/2011 postreply 10:45:45

• 单原子分子的热运动只有平动运动，而没有转动和振动运动；固体中的粒子没有平动运动，主要是振动、电子和核运动；而液体与固体相比，又增 -marketreflections- ♂ (35557 bytes) () 03/13/2011 postreply 21:29:05

• 复旦大学 含有N个原子的多原子分子，有3N个自由度，如果势能项只取二次近似（即简谐振子模型），经过分离变量，分子的振动可以用3N -marketreflections- ♂ (3736 bytes) () 03/13/2011 postreply 21:37:58

• 简谐近似的方法是认为原子振动位移很小，故势能展开式中只保留二次项，忽略三次方及以上的各非谐项，并用一系列独立的谐振子来描述晶格振 -marketreflections- ♂ (24839 bytes) () 03/13/2011 postreply 21:42:21

• 热膨胀系数是由非谐项决定的，仅考虑势能展开式中的三次方项，热胀系数是与温度无关的常数。如果计入势能展开式中的更高次项，则线胀系数 -marketreflections- ♂ (0 bytes) () 03/14/2011 postreply 08:51:32

• 热膨胀系数是由非谐项决定的，仅考虑势能展开式中的三次方项，热胀系数是与温度无关的常数。如果计入势能展开式中的更高次项，则线胀系数 -marketreflections- ♂ (3004 bytes) () 03/14/2011 postreply 08:52:34

• 电磁波的基本频率模式是与容器的外形相关的（数学上，这个是一个偏微分方程,零频时也被称为调和问题，一般模式是亥姆霍兹方程，总之，基 -marketreflections- ♂ (4220 bytes) () 03/14/2011 postreply 15:45:13

• 海森堡独创的“变型的傅里叶展开法”。其实是拿看得见的光谱(注意光谱的频率可不是电子的运动频率)，把看不见的电子轨道从数学上做了变 -marketreflections- ♂ (11128 bytes) () 03/14/2011 postreply 16:09:35

• 为什么原子会吸收光呢？因为原子好象一个饥饿的人要吃饭，原子总是要吸收和补充能量，而光是带能量的，所以原子要吸收光（说复杂一点，就 -marketreflections- ♂ (14759 bytes) () 03/14/2011 postreply 18:27:05

• 事实上对于每一个洞，我们可以用无限多个可能的包围圈将其包住，这些包围圈之间的差异只是形状上的，它们都是等价的，叫同伦等价，因此同 -marketreflections- ♂ (1124 bytes) () 03/14/2011 postreply 18:40:33

• 计算环面的同伦群。零阶同伦群为零，因为没有一维洞;基本群之所以重要，除它能描述二维洞以外，它与Poincare猜想之关连可能是最 -marketreflections- ♂ (1752 bytes) () 03/14/2011 postreply 18:45:08

• 因此当我们得到一些闭链时，为了将其中的边缘链区分出来，可以用边缘算子去作用它们，剩下来的就是非边缘链。不断作用下去，就得到流形的 -marketreflections- ♂ (1413 bytes) () 03/14/2011 postreply 18:49:07

• 闲论Atiyah-Singer指标定理 by polik -marketreflections- ♂ (86 bytes) () 03/14/2011 postreply 19:04:11

• 数学分析（analysis）的对象是函数及其微积分，要角是f。拓扑学（topology）关心形变不变量。形变即大小形状可以改变但 -marketreflections- ♂ (368 bytes) () 03/14/2011 postreply 19:09:17

• 对于一条曲线，一阶导数即切线代表倾斜程度，即斜率，二阶导数代表弯曲程度，即曲率。推广到高维情形，依然成立，只是方向多了些，斜率需 -marketreflections- ♂ (5372 bytes) () 03/14/2011 postreply 19:17:30

• 配有乘法的集合叫群,乘法到底是怎样做的。把元素和乘法具体化，抽象群就会灵魂附体，现出原形，即所谓的群表示。具体化需要一个场所，即 -marketreflections- ♂ (7234 bytes) () 03/14/2011 postreply 19:24:11

• iodine supplementation -marketreflections- ♂ (512 bytes) () 03/14/2011 postreply 20:58:51

• japan01 -marketreflections- ♂ (273 bytes) () 03/14/2011 postreply 21:22:15

• japan01 witten1 -marketreflections- ♂ (1269 bytes) () 03/14/2011 postreply 21:34:24

• japan01 witten1已经发生了堆融，并且二号堆安全壳也已融穿，而在这时候任何人去都没有解决方案了; 美国会有季风带过去 -marketreflections- ♂ (1953 bytes) () 03/14/2011 postreply 22:34:28

• japan01 http://www.washingtonsblog.com/ -marketreflections- ♂ (84 bytes) () 03/14/2011 postreply 22:50:55

• japan01 ，“核燃料就好比是装在高压锅内的物质，虽然燃料采用了耐高温的陶瓷材料，当其温度一旦超过了某种限度，也是会熔化的。 -marketreflections- ♂ (6145 bytes) () 03/15/2011 postreply 10:33:34

• japan01 由于乏燃料池没有防护壳环绕着,所以一旦氢气产生就会进入大气,与氧气发生化学反应并爆炸。尤其是,如果乏燃料池的水面 -marketreflections- ♂ (3373 bytes) () 03/16/2011 postreply 15:17:41

• japan01 Chris Martenson -marketreflections- ♂ (26410 bytes) () 03/16/2011 postreply 15:26:39

• japan01 9、注⺌入海水之后呢？ -marketreflections- ♂ (4329 bytes) () 03/16/2011 postreply 16:26:51

• japan01 切尔诺贝利核电站事故 -marketreflections- ♂ (5711 bytes) () 03/16/2011 postreply 17:29:40

• japan01 福岛，最坏的可能 比较令人担忧的是碘-131和铯-137，它们是随着反应堆释放的蒸汽泄漏出来的。 -marketreflections- ♂ (4867 bytes) () 03/16/2011 postreply 17:05:36

• japan01 worst case scenario -marketreflections- ♂ (10670 bytes) () 03/15/2011 postreply 09:44:11

• japan01 witten1 ca nuclear engineer nuke explosion impossible -marketreflections- ♂ (1660 bytes) () 03/15/2011 postreply 09:54:47

• iodine supplementation -marketreflections- ♂ (250 bytes) () 03/14/2011 postreply 21:53:06

• 纤维丛是流形向乘积的推广。常用的是矢丛。简单地说，设Ｅ、Ｍ是两 个光滑流形，Ｅ到Ｍ的映射光滑，Ｍ上各点的仿射空间由ｎ维矢量集合 -marketreflections- ♂ (3012 bytes) () 03/15/2011 postreply 19:11:07

• 余切丛的定义 设 M×M 是 M 与自己的笛卡尔积。广义动量是M上的协变向量，而余切空间是协变向量空间（余切丛则是位形空间M与余 -marketreflections- ♂ (3639 bytes) () 03/16/2011 postreply 19:34:15

• 整个M6bius带却不是(整体)均匀的,不可能建立一个整体的物质丛卡，它的所有物质切丛 -marketreflections- ♂ (8981 bytes) () 03/15/2011 postreply 19:25:03

• 一个纤维丛(fiber/fibre bundle)是一个局部看来像两个空间的直积的空间 -marketreflections- ♂ (3500 bytes) () 03/15/2011 postreply 19:36:01

• 两个线性无关的切矢量张成切平面，基底分别相乘，就形成2X2=4个新基底，在四维（3，1）伪Riemann空间，即 Lorentz -marketreflections- ♂ (5214 bytes) () 03/15/2011 postreply 19:47:46

• 所谓的人，或者观察者，它在广义相对论中是什么东西？答案就是，它是一根单位长度的类时矢量。这个矢量在时空中划出一个轨道，就好象火箭 -marketreflections- ♂ (2071 bytes) () 03/15/2011 postreply 20:10:43

• 剪切力的物理实质是粘滞力或内摩擦力，法向力的物理实质是弹性力（拉力或压力），于是应力张量可以完整地描述粘弹性物体在流动过程中的复 -marketreflections- ♂ (33985 bytes) () 03/15/2011 postreply 20:00:56

• 内力是材料内部所受的力，它的产生来自于外界作用和物体内维持自身完整性的力。外界作用可以是外力，也可以是物理作用、化学作用，如冷热 -marketreflections- ♂ (1039 bytes) () 03/17/2011 postreply 10:32:59

• “度规（时空）是最基本的，是可以先假定的”,度规是最基本的，是可以先假定的。一旦度规给定，物理规律及其具体物理含义的研究工作就是 -marketreflections- ♂ (11280 bytes) () 03/17/2011 postreply 12:35:48

• 通过印钞把成本社会化，这是美国危机后量化宽松一直在做的事情，我想日本选择的可能性小，至少当前没必要选择， -marketreflections- ♂ (6628 bytes) () 03/17/2011 postreply 13:05:05

• 大变形。如果物质微元的形态变化较大，则相邻物质微元的间距变化较大，欧拉空间描述法误差就大了。此时，物质所占据的空间是弯曲空间。这 -marketreflections- ♂ (15786 bytes) () 03/17/2011 postreply 13:23:38

• check01 http://www.imeigu.com/SINA -marketreflections- ♂ (94 bytes) () 03/17/2011 postreply 15:36:42

• 回复：“度规（时空）是最基本的，是可以先假定的”,谣言不是谎言，而是对真相不明之事的想象性解释 -marketreflections- ♂ (2470 bytes) () 03/17/2011 postreply 15:54:57

• http://www.chinarank.org.cn/ -marketreflections- ♂ (78 bytes) () 03/17/2011 postreply 17:55:04

• 外力是塑性加工的外因，它可以分成表面力和体积力两大类。表面力即作用于工件表面的力，它有集中载荷和分布载荷之分，一般由加工设备和模 -marketreflections- ♂ (12344 bytes) () 03/17/2011 postreply 10:53:32

• 高次项(非谐项非谐项) 次项非谐项所导致三声子过程(两个声子相互作用产生第三个两个声子相互作用产生第三个声子 -marketreflections- ♂ (2065 bytes) () 03/14/2011 postreply 09:10:09

• 对于任意一复合周期振动函数Y（T）按傅氏级数分解表示为：第一项称均值或直流分量，第二项为基波或基本振动，第三项称二次谐波，依次类 -marketreflections- ♂ (170 bytes) () 03/14/2011 postreply 09:14:36

• E2项的存在将引起介质的恒定极化项，产生恒定的极化电荷和相应的电势差，电势差与光强成正比而与频率无关，类似于交流电经整流管整流后 -marketreflections- ♂ (478 bytes) () 03/14/2011 postreply 09:30:56

• 供电给这些非线性负荷的系统电压即使为理想正弦波，它们工作时的电流也是非正弦电流。这些非正弦电流波形按傅氏级数可以分解为基波及一系 -marketreflections- ♂ (1034 bytes) () 03/14/2011 postreply 09:37:43

• 高次谐波的产生 短波长相干光 -marketreflections- ♂ (404 bytes) () 03/14/2011 postreply 09:45:40

• 辐射跃迁和非辐射跃迁,:非辐射跃迁,原子或分子从激发态退激的过程中没有以任何形式（辐射光子或电子）释放能量，其能量的损失可能以粒 -marketreflections- ♂ (18606 bytes) () 03/13/2011 postreply 11:05:19

• 分子no辐射跃迁,分子非辐射跃迁? 第六章 分子动力学方法 -marketreflections- ♂ (25196 bytes) () 03/13/2011 postreply 12:12:41

• 相变与临界现象: 取热力学极限时，由于体积趋于无穷大，因此，实际处理的是一开放系统,硬碟的半径不重要，因为改变硬碟半径和改变体系 -marketreflections- ♂ (26067 bytes) () 03/13/2011 postreply 12:17:43

• 费曼传播子,路径积分 -marketreflections- ♂ (13590 bytes) () 03/13/2011 postreply 11:19:59

• ，在模拟大量粒子穿过较厚物质层时，只有很少数的粒子对透射率有贡献，这时透射率估计值的误差涨落也比较大。为了克服这个缺点，可以采用 -marketreflections- ♂ (453 bytes) () 03/13/2011 postreply 11:24:11

• 总的泛函应为各三角形元素上泛函的代数和,三角剖分是代数拓扑学里最基本的研究方法。 以曲面为例， 我们把曲面剖开成一块块碎片， -marketreflections- ♂ (1457 bytes) () 03/13/2011 postreply 11:48:46

• ""稀疏矩阵正定对称",有限元分析及应用 -marketreflections- ♂ (948 bytes) () 03/13/2011 postreply 12:01:50

• 分子含有偶数电子,"非辐射跃迁" -marketreflections- ♂ (1198 bytes) () 03/13/2011 postreply 14:02:33

• 化学发光（Chemiluminescence）又称为冷光（Cold Light），它是在没有任何光、热或电场等激发的情况下，由化 -marketreflections- ♂ (14706 bytes) () 03/13/2011 postreply 14:17:28

• ustc 第九章神经元网络方法 第十章高性能计算和并行算法 -marketreflections- ♂ (0 bytes) () 03/13/2011 postreply 14:25:47

• ustc 第九章神经元网络方法 并行算法 在处理多电子原子问题时，由于电子在原子中任一位置的势能都依赖于此时刻其它电子所处的位 -marketreflections- ♂ (989 bytes) () 03/13/2011 postreply 14:47:34

• 不可积性由共振所致，共振表达了频率必须满足的条件。共振不是发生在空间中的给定点和时间上的给定时刻的局域事件 -marketreflections- ♂ (231 bytes) () 03/13/2011 postreply 14:55:29

• 我们知道，不可积是由共振引起的。耦台　常数较小时，系统的行为是“周期 ”占主导，通　常频率是町通约的有理数　但是对于犬庞加莱　系 -marketreflections- ♂ (58379 bytes) () 03/13/2011 postreply 17:23:25

• 通常的保守问题中，经典力学正则方程除了满足能量积分外，不满足其它任何解析、一致的积分。庞加莱的一般性结论，实质上是指出，可积系统 -marketreflections- ♂ (13458 bytes) () 03/13/2011 postreply 17:47:37

• 引力熵力假说 -marketreflections- ♂ (17190 bytes) () 03/13/2011 postreply 15:00:15

• Questions: what can-do or can-not-do of a von Neumann machine? -marketreflections- ♂ (644 bytes) () 03/13/2011 postreply 14:30:32

• 流形概念是空间概念的重要发展。它从局部上看是欧几里得空间，但从整体上看可以有各种形式。它可开可闭，可有边可无边;空间的更抽象形式 -marketreflections- ♂ (3120 bytes) () 03/12/2011 postreply 15:58:27

• 拓扑结构反映点与点之间的亲疏远近关系，对于任何度量空间 M 中的点 x，我们定义半径 r (>0) 的关于 x 的开球为集合,这 -marketreflections- ♂ (46802 bytes) () 03/12/2011 postreply 16:07:56

• 测地弦网:范数是对绝对值的推广一样，Finsler几何中引入了一个非常宽泛的“度量函数”， -marketreflections- ♂ (17303 bytes) () 03/12/2011 postreply 16:20:06

• 回复：测地弦网:。在拉氏量形式中，系统的时空是完全对称的,而在哈密顿量形式，或者说正则形式中，系统的时间与空间却需要做一个区分， -marketreflections- ♂ (1317 bytes) () 03/12/2011 postreply 16:25:12

• 一个经典理论的物质粒子，在‘量子化’之后，可出现‘波性’，（实为‘场性’）。 -marketreflections- ♂ (6450 bytes) () 03/12/2011 postreply 16:13:37

• 根据马赫原理，物质的惯性并非自身的属性，它是宇宙中其它物质对该物质作用的总效应，脱离其它物质，物质的惯性将失去意义。惯性质量不是 -marketreflections- ♂ (24849 bytes) () 03/12/2011 postreply 17:20:24

• 所谓“量子化”是指状态的不连续性，例如绕原子核运动的电子只能处于一系列不连续的能量状态上，而不能处在两个相邻状态之间的状态上。 -marketreflections- ♂ (143 bytes) () 03/12/2011 postreply 22:02:33

• 密度很弱（不然就不可能是弱场了）因而能动张量只有一个非零分量;原子，然后几何叠加, watch out for big 原子 -marketreflections- ♂ (25404 bytes) () 03/12/2011 postreply 17:26:38

• 政态分布，，重力场，弱场，疲劳，entropy highest, 需要新能量动量刺激，电磁场, by human nature, -marketreflections- ♂ (178 bytes) () 03/13/2011 postreply 11:52:09

• 揭开网络复杂性金字塔的的“庐山真面目” -marketreflections- ♂ (0 bytes) () 03/13/2011 postreply 18:46:42

• 回复：揭开网络复杂性金字塔的的“庐山真面目” -marketreflections- ♂ (1081 bytes) () 03/13/2011 postreply 18:47:42

• 如果微观客体的动力学状态不用r(t)而用波函数Ψ(r, t)来描述，如何确定此状态下某力学量的大小 -marketreflections- ♂ (2719 bytes) () 03/12/2011 postreply 22:40:25

• H ilbert 空间在量子力学中的应用 -marketreflections- ♂ (3089 bytes) () 03/12/2011 postreply 22:56:14

• 上帝是牛顿连续的，因此必须量子化，空间局域化，原子化，几何叠加化，才有可能定性定量； -marketreflections- ♂ (139 bytes) () 03/12/2011 postreply 23:01:54

• 线性：可信任，可预期，1+1=2，上帝面前人人都是全同粒子，但1+1》2，领袖作用,幂分布 -marketreflections- ♂ (117 bytes) () 03/12/2011 postreply 23:05:58

• ，在多重积分和大多数模拟研究中，多维空间的每个点或模拟事例被认为是相互独立的，而这些点或事例的顺序则似乎并不重要 -marketreflections- ♂ (603 bytes) () 03/13/2011 postreply 09:38:50

• 对偶变量法中却使用相关联的点来进行计算。它利用相关点间的关系可以是正关联的，也可以是负关联的这个特点 -marketreflections- ♂ (5406 bytes) () 03/13/2011 postreply 10:04:04

• 马尔可夫链 条件概率分布 是数学中具有马尔可夫性质的离散时间随机过程。该过程中，在给定当前知识或信息的情况下，只有当前的状态用来 -marketreflections- ♂ (106247 bytes) () 03/12/2011 postreply 15:18:18

• 马尔科夫过程 切除了大脑的白鼠在若干个洞穴间的蹿动 辛钦（1894－1959〕的话来说，就是承认客观世界中有这样一种现象，其未来 -marketreflections- ♂ (5878 bytes) () 03/12/2011 postreply 15:32:03

• 第一类是随机模拟方法。它是实现Gibbs的统计力学途径。在此方法中，体系位形的转变是通过马尔科夫(Markov)过程，由随机性的 -marketreflections- ♂ (391 bytes) () 03/13/2011 postreply 12:09:53

• "玻色爱因斯坦凝聚幂律分布", risk by defination is power law distribution, or -marketreflections- ♂ (28811 bytes) () 03/10/2011 postreply 16:27:39

• Emergent还是Reductive Emergent Phenomena 呈展现象 -marketreflections- ♂ (13409 bytes) () 03/09/2011 postreply 17:52:59

• fa01 Mike Dolan David Resler -marketreflections- ♂ (12607 bytes) () 03/15/2011 postreply 08:30:26

• fa01 Goldman: Current Activity Indicator -marketreflections- ♂ (12185 bytes) () 04/15/2011 postreply 11:06:55

• fa01 为维护长期利率稳定低值，在避免国债及其他被国际资本（包括腹黑的TG）抛压危险，美国还是会继续持有QE（放款通过花街买国 -marketreflections- ♂ (4185 bytes) () 04/16/2011 postreply 22:53:15