A quantile-based Time at Risk: A new approach for assessing risk in financial markets

In this paper, we provide a new measure for evaluation of risk in financial markets. This measure is based on the return interval of critical events in financial markets or other investment situations. Our main goal was to devise a model like Value at Risk (VaR). As VaR, for a given financial asset, probability level and time horizon, gives a critical value such that the likelihood of loss on the asset over the time horizon exceeds this value is equal to the given probability level, our concept of Time at Risk (TaR), using a probability distribution function of return intervals, provides a critical time such that the probability that the return interval of a critical event exceeds this time equals the given probability level. As an empirical application, we applied our model to data from the Tehran Stock Exchange Price Index (TEPIX) as a financial asset (market portfolio) and reported the results.     

Enhancement of free space optical link in heavy rain attenuation using multiple beam concept

Free space optics (FSO) has attracted a lot of attention for a variety of applications in telecommunications area, and it is dream of every researcher and telecommunication society to make it a real alternative solution for the last mile problem, to replace fiber optics. FSO is much preferred because of its low maintenance cost and deployment time. FSO with single-beam system is vulnerable to atmospheric attenuation, so to overcome this, a multiple-beam FSO transceiver system has become prominent and is usually used. In this paper, average rain attenuation is evaluated from the collected rain intensity data which are collected for a period of seven months, and implemented in the study concerning results relating link distance, and received optical power of using multiple-beam FSO system in tropical rainy weather. Comparison is made in terms of received optical power, geometrical losses, atmospheric losses, and bit error rate (BER) on using different number of optical beams, based on simulation at data rate of 1 Gb/s. From the results it is clear that the quality of received power is improved by using up to four beams, along with link distance up to 1141.2 m as compared to one-beam, two-beam, and three-beam, with link distances 833.3 m, 991.0 m, 1075.4 m, respectively.     

A recursive color image edge detection method using Green's function approach

In this paper, an extended version of image edge detector using Green's function approach is proposed for detection of edges in the color vector space field. In the proposed method, the relationship between the Red, Green and Blue components is considered to design a differential operator for detection of edges in color images. By using the proposed operator, partial derivatives of all components of color image can simultaneously affect on the edge detection process. Therefore the proposed method can preserve the vector nature of color images during the edge processing stages. Also, the proposed method is compared both quantitatively and qualitatively with other color edge detectors. Experimental results show that the proposed method can efficiently preserve the edges even when the color images corrupted with different levels of noise.     

Fingerprint image enhancement using data driven Directional Filter Bank

A new method based upon data driven tool, principal component analysis (PCA), for fingerprint enhancement is proposed in this paper. PCA is a very useful statistical technique that has found application in many different fields like image compression, face recognition and is commonly used for finding patterns in data of high dimension. In the proposed method, the input image is first decomposed into directional images using decimation free Directional Filter Bank (DDFB). Then these directional images are normalized. A data driven technique PCA is applied to these normalized directional fingerprint images, which gives the PCA filtered images. These are basically directional images. Then these directional images are reconstructed into one image which is the enhanced one. Simulation results are included illustrating the capability of the proposed method.     

Effect of frequency on sonochemical reactions. I: Oxidation of iodide

The effect of continuous sonication on the kinetics of iodine formation in aqueous iodide solutions was studied in the presence of air and argon at two frequencies, 20 and 900 kHz. Most workers in this area assume that frequency has a negligible effect on sonochemical reactions. The present results indicate, however, that there is a significant effect in the above solutions. The rate of sonochemical oxidation of iodide in aqueous solution is 3.1 times greater in presence of air than argon at 900 kHz, in contrast to the situation at 20 kHz, where the ratio is 0.9 A 900 kHz apparatus was specially designed to make it possible to measure the absolute acoustic power delivered into the solution. The rate of oxidation per unit power in this new 900 kHz apparatus can be more than 30 times greater than that at 20 kHz for the oxidation of iodide in the presence of air.     

Preparation,surface state and band structure studies of SrTi(1 − x)Fe(x)O(3 − δ) (x = 0–1) perovskite-type nano structure by X-ray and ultraviolet photoelectron spectroscopy

In this report, SrTi_(1 ? x)Fe_(x)O_(3 ? δ) photocatalyst powder was synthesized by a high temperature solid state reaction method. The morphology, crystalline structures of obtained samples, was characterized by X-ray diffraction (XRD), scanning electron microscope (SEM), and transmission electron microscopy (TEM), respectively. The electronic properties and local structure of the perovskite STF_x (0 ≤ x ≤ 1) systems have been probed by extended X-ray absorption fine structure (EXAFS) spectroscopy. The effects of iron doping level x (x = 0–1) on the crystal structure and chemical state of the STF_x have been investigated by X-ray photoelectron spectroscopy and the valence band edges for electronic band gaps were obtained for STF_x by ultraviolet photoelectron spectroscopy (UPS). A single cubic perovskite phase of STF_x oxide was successfully obtained at 1200 °C for 24 h by the solid state reaction method. The XPS results showed that the iron present in the STF_x perovskite structure is composed of a mixture of Fe³⁺ and Fe⁴⁺ (SrTi_(1 ? x)[Fe³⁺, Fe⁴⁺]_(x)O_(3 ? δ)). When the content x of iron doping was increased, the amount of Fe³⁺ and Fe⁴⁺ increased significantly and the oxygen lattice decreased on the surface of STF_x oxide. The UPS data has confirmed that with more substitution of iron, the position of the valence band decreased.     

Sensitive determination of adenosine disodium triphosphate in soil,milk, and pharmaceutical formulation by enoxacin–europium (III) fluorescence complex in solution

A new spectroflurometric method for the determination of adenosine disodium triphosphate (ATP) is developed. Fluorometric interaction between ATP and enoxacin (ENX)–Eu³⁺ complex was studied using UV–vis and fluorescence spectroscopy. Weak luminescence spectra of Eu³⁺ were enhanced after complexation with ENX at 589 nm and 614 nm upon excitation at 395 nm due to energy transfer from the ligand to the lanthanide ion. It was observed that luminescence spectrum of Eu³⁺ was strongly enhanced further at 614 nm after incorporation of ATP into the ENX–Eu³⁺ complex. Under optimal conditions, the enhancement of luminescence at 614 nm was responded linearly with the concentration of ATP. The linearity was maintained in the range of 1.5×10^?10–1.15×10^?8 M (R=0.9973) with the limit of detection (3σ) of 4.71×10^?11 M. The relative standard deviation (RSD) for 9 repeated measurements of 1×10^?9  M ATP was 1.25%. Successful determinations of ATP in soil, milk, and a pharmaceutical formulation with the proposed method were demonstrated.     

The numerical and experimental study of photon diffusion inside biological tissue using boundary integral method

In this study, the diffusion of photons in turbid media, like biological tissue has been studied. Due to scattering and absorption of photons in such media, the study of photon propagation in biological tissue is complicated. The several numerical methods have been presented to simulate the behavior of diffused photons. Recently, Boundary Integral Method (BIM) has been offered to simulate photon migration inside biological tissues. This method has advantage, e.g. lower computational time in compared with other numerical methods. In this study, the accuracy and precision of BIM compares with another numerical method like Monte Carlo technique and finite difference method, and also the calculated results obtained by BIM and Monte Carlo method evaluate with measured results. Furthermore, the effects of scattering and absorption coefficient of tissue on the measured signal are studied.     

Superprism properties in 2D polymer photonic crystals at high normal frequencies

The superprism effects of higher bands, i.e., for normal frequencies of higher than one, in two-dimensional (2D) polymer photonic crystals (PCs) are investigated. It is shown that in a polymer PC of triangular symmetry with filling factor of about 31%, the gradual transition of the hexagonal into triangular equi-frequency dispersion contours leads to a strong superprism in the 6th band at a normal frequency of 1.2. This dispersion is more prominent than those observed in the lower bands in 2D PCs. Also, this requires a lattice constant longer than the concerned wavelength. Furthermore, in a 2D polymer PC with a filling factor of about 83% a strong discontinuous superprism effect occurs at normal frequencies higher than one, which is due to an abrupt transition between two modes with the refraction angles of opposite signs. The effect can be exploited for switching applications as demonstrated in the paper.     

Influences of substrate temperature on microstructure and corrosion behavior of APS Ni_(50)Ti_(25)Al_(25) inter-metallic coating

In the present investigation, Ni_(50)Ti_(25)Al_(25)(at.%) mechanically alloyed powder is deposited on carbon steel substrate.Before the coating process, the substrate is heated to temperature ranging from room temperature to 400℃. The microstructure, porosity, microhardness, adhesion strength, and corrosion behavior of the coating are investigated at different substrate temperatures. Results show that coating porosity is lower on high temperature surface. Microhardness and adhesion strength of the deposition layer on the substrate without preheating have lower values than with preheating. The polarization test result shows that corrosion performance of the coating is dependent on micro cracks and porosities and the increasing of substrate temperature can improve the quality of coating and corrosion performance.