Stability of Markovian structure observed in high frequency foreign exchange data

Contrary to the common sense in economics and financial engineering, price fluctuations at very fine level of motion exhibit various evidences against the efficient market hypothesis. We attempt to investigate this issue by studying extensive amount of foreign currency exchange data for over five years at the finest level of resolution. We specifically focus on the proposed stability in binomial conditional probabilities originally found in much smaller examples of financial time series. In order to handle very large data, we have written an efficient program in C that automatically generates those conditional probabilities. It is found that the stability is maintained for extremely large time duration that covers almost the entire period. Based on the length of conditions for which the conditional probabilities are distinguishable each other, we identify the length of memory being less than 3 movements.     

Heterocycles. XXVI. A total synthesis of optically pure (+)-catechin pentaacetate

A total synthesis of optically pure (+)-catechin pentaacetate has been established using the (-)-chalcon epoxide (100% ee) derived from 3,4,2′,4′,6′-pentakis(methoxymethoxy)chalcon as the starting material. The optical purity of the product is confirmed by ¹H nmr analysis in the presence of a shift reagent.     

Studies on aldose reductase inhibitors from natural products. II. Active components of a Paraguayan crude drug "Para-parai mí," Phyllanthus niruri

Aldose reductase (AR) inhibitory activity-directed fractionation of the 70% ethanolic extract of Para-parai mí, Phyllanthus niruri, has led to the isolation of three active components, ellagic acid (1), brevifolin carboxylic acid (4) and ethyl brevifolin carboxylate (5). Among them, 1 showed the highest inhibitory activity, being about 6 times more potent than quercitrin, which is a known natural inhibitor of AR.     

Dielectric relaxation in the paracrystalline phase in polyacrylonitrile

Thermal expansion and dielectric relaxation of polyacrylonitrile were measured in the temperature range from ?75 to 152°C. at frequencies from 30 cps to 3 Mc./sec. The thermal expansion curve and the temperature dependence of logarithmic relaxation time both show an inflection at 85°C. An x-ray study by Bohn reveals that this inflection comes from the thermal expansion of the paracrystalline phase of this polymer, and consequently the transition at 85°C. and the associated relaxation are ascribed to molecular motion in the paracrystalline phase. The relaxation strength increases with increasing temperature above this point. The transition is caused by freezing of the bending vibration of chains whereas the relaxation results from rotational vibration. The length of segments in this phase is roughly estimated to be ca. 100 A. by comparing the observed relaxation strength with the theory developed on the basis of the above considerations.     

GaCl(3)-catalyzed ortho-ethynylation of phenols

Phenols are ethynylated at the ortho position with silylated chloroethyne in the presence of a catalytic amount of GaCl3 and lithium phenoxide. The lithium salt is essential for the catalysis, and addition of 2,6-di(tert-butyl)-4-methylpyridine inhibits desilylation and hydration of the products. The reaction can be applied to various substituted phenols giving the ortho-ethynylated products in high yields, and the turnover numbers based on GaCl3 are between 8 and 10. The reaction mechanism involves addition of in situ formed phenoxygallium to the haloethyne followed by the elimination of GaCl3.     

A superoxide dismutase-modified electrode that detects superoxide ion

A superoxide dismutase (SOD)-modified electrode, in which SOD is oriented on the gold electrode via a self-assembled monolayer of cysteine so as to allow its direct electrode reaction, possesses a bi-directional electrocatalysis for both the oxidation of superoxide ion (O2-) to O2 and the reduction of O2- to H2O2 and functions as a third generation O2- biosensor.     

Analysis of the quantum numbers J(PC) of the X(3872) particle

We present an analysis of angular distributions and correlations of the X(3872) particle in the exclusive decay mode X(3872)-->J/psipi+ pi- with J/psi-->mu+ mu-. We use 780 pb-1 of data from pp[over ] collisions at sqrt[s]=1.96 TeV collected with the CDF II detector at the Fermilab Tevatron. We derive constraints on spin, parity, and charge conjugation parity of the X(3872) particle by comparing measured angular distributions of the decay products with predictions for different J(PC) hypotheses. The assignments J(PC)=1++ and 2-+ are the only ones consistent with the data.     

Measurement of the top-quark mass in all-hadronic decays in pp collisions at CDF II

We present a measurement of the top-quark mass Mtop in the all-hadronic decay channel tt-->W+bW-b-->q1q2bq3q4b. The analysis is performed using 310 pb-1 of sqrt[s]=1.96 TeV pp[over ] collisions collected with the CDF II detector using a multijet trigger. The mass measurement is based on an event-by-event likelihood which depends on both the sample purity and the value of the top-quark mass, using 90 possible jet-to-parton assignments in the six-jet final state. The joint likelihood of 290 selected events yields a value of Mtop=177.1+/-4.9(stat)+/-4.7(syst) GeV/c2.     

Search for new heavy particles in the WZ0 final state in pp collisions at square root[s] = 1.8 TeV

We present the first general search for new heavy particles, X, which decay via X --> WZ0 --> e(nu)+jj as a function of M(X) and Gamma(X) in pp collisions at square root[s] = 1.8 TeV. No evidence is found for production of X in 110 pb(-1) of data collected by the Collider Detector at Fermilab. General cross section limits are set at the 95% C.L. as a function of mass and width of the new particle. The results are further interpreted as mass limits on the production of new heavy charged vector bosons which decay via W' --> WZ0 in an extended gauge model as a function of the width, Gamma(W'), and mixing factor between the W' and the standard model W bosons.