Jones Index Research Articles

Impact of Macroeconomic Variables on the Performance of the Indian stock market

This paper analyses the macroeconomic factors influencing performance of Indian stock market index NIFTY 50. The study is unique in nature as it employ both, primary and secondary to derive the conclusion. Initially, nine years monthly data of macroeconomic variables are regressed against monthly performance of NIFTY 50 index using logistic regression. In second stage the outcome of regression analysis is ratified with primary data collected through face to face interview of the stock market expert. The secondary data analysis confirm Dow jones index and exchange rate movement are the main determinants of NIFTY 50 index. However, expert opined that other factors like political stability, economic situation in developed and bilateral relations of India with other countries are also important to forecast the NIFTY 50 index movement. This is the first study in Indian context, to combine domestic and international factors to forecast NIFTY 50 index movement.

Channel Divergences and Complexity in Algebraic QFT

We consider a notion of divergence between quantum channels in relativistic continuum quantum field theory (QFT) that is derived from the Belavkin–Staszewski relative entropy and the concept of bimodules for general von Neumann algebras. Key concepts of the divergence that we shall prove based on a new variational formulation of that relative entropy are the subadditivity under composition and additivity under the tensor product between channels. Based on these properties, we propose to use the channel divergence relative to the trivial (identity-) channel as a novel measure of complexity. Using the properties of our channel divergence, we prove in the prerequisite generality necessary for the algebras in QFT that the corresponding complexity has several reasonable properties: (i) the complexity of a composite channel is not larger than the sum of its parts, (ii) it is additive for channels localized in spacelike separated regions, (iii) it is convex, (iv) for an N-ary measurement channel it is log N, (v) for a conditional expectation associated with an inclusion of QFTs with finite Jones index it is given by log (text {Jones Index}).

Pengaruh Indeks Dow Jones, Suku Bunga The Fed, Dan Bitcoin terhadap IHSG

This research was conducted to examine the effect of the Dow Jones Index, The Fed Interest Rate, and Bitcoin on the Indonesian Composite Stock Price Index (IHSG). The data used is secondary data taken based on closing prices and monthly fluctuations from financial websites. The population is in the form of time series data for 58 months starting from 1 June 2018 to 31 March 2023 using a saturated sample. Data analysis in the study used the classical assumption test (multicollinearity, heteroscedasticity, autocorrelation, normality), multiple linear regression, determinant coefficient, and T test. The results showed that the Dow jones index had a positive effect on the JCI, The Fed's interest rate had a positive effect on the JCI, and Bitcoin has no effect on the JCI. The test results stated that the Dow Jones Index had a positive influence on the JCI, The Fed's Interest Rate had a positive influence on the JCI, and Bitcoin had no influence on the JCI.
 Keywords: Bitcoins; Dow Jones; IHSG; The Fed

$W^*$-representations of subfactors and restrictions on the Jones index

A W^* - representation of a \mathrm{II}_1 subfactor N\subset M with finite Jones index, [M:N]<\infty , is a non-degenerate commuting square embedding of N\subset M into an inclusion of atomic von Neumann algebras \oplus_{i\in I} \mathcal{B}(\mathcal K_i)=\mathcal N \subset^{\mathcal E} \mathcal M=\oplus_{j\in J} \mathcal{B}(\mathcal H_j) . We undertake here a systematic study of this notion, first introduced by the author in 1992, giving examples and considering invariants such as the (bipartite) inclusion graph \Lambda_{\mathcal N \subset \mathcal M} , the coupling vector (\dim({}_M\mathcal H_j))_j and the RC-algebra (relative commutant) M'\cap \mathcal N , for which we establish some basic properties. We then prove that if N\subset M admits a W^* -representation \mathcal N\subset^{\mathcal E}\mathcal M , with the expectation \mathcal E preserving a semifinite trace on \mathcal M , such that there exists a norm one projection of \mathcal M onto M commuting with \mathcal E , a property of N\subset M that we call weak injectivity/amenability , then [M:N] equals the square norm of the inclusion graph \Lambda_{\mathcal N \subset \mathcal M} .

Irreducible inclusions of simple $C^*$-algebras

The literature contains interesting examples of inclusions of simple C^* -algebras with the property that all intermediate C^* -algebras likewise are simple. In this article we take up a systematic study of such inclusions, which we refer to as being C^* - irreducible by the analogy that all intermediate von Neumann algebras of an inclusion of factors are again factors precisely when the given inclusion is irreducible. We give an intrinsic characterization of when an inclusion of C^* -algebras is C^* -irreducible, and use this to revisit known and exhibit new C^* -irreducible inclusions arising from groups and dynamical systems. Using a theorem of Popa one can show that an inclusion of II1-factors is C^* -irreducible if and only if it is irreducible with finite Jones index. We further show how one can construct C^* -irreducible inclusions from inductive limits, and we discuss how the notion of C^* -irreducibility behaves under tensor products.

Quantum operations on conformal nets

On a conformal net [Formula: see text], one can consider collections of unital completely positive maps on each local algebra [Formula: see text], subject to natural compatibility, vacuum preserving and conformal covariance conditions. We call quantum operations on [Formula: see text] the subset of extreme such maps. The usual automorphisms of [Formula: see text] (the vacuum preserving invertible unital *-algebra morphisms) are examples of quantum operations, and we show that the fixed point subnet of [Formula: see text] under all quantum operations is the Virasoro net generated by the stress-energy tensor of [Formula: see text]. Furthermore, we show that every irreducible conformal subnet [Formula: see text] is the fixed points under a subset of quantum operations. When [Formula: see text] is discrete (or with finite Jones index), we show that the set of quantum operations on [Formula: see text] that leave [Formula: see text] elementwise fixed has naturally the structure of a compact (or finite) hypergroup, thus extending some results of [M. Bischoff, Generalized orbifold construction for conformal nets, Rev. Math. Phys. 29 (2017) 1750002]. Under the same assumptions, we provide a Galois correspondence between intermediate conformal nets and closed subhypergroups. In particular, we show that intermediate conformal nets are in one-to-one correspondence with intermediate subfactors, extending a result of Longo in the finite index/completely rational conformal net setting [R. Longo, Conformal subnets and intermediate subfactors, Comm. Math. Phys. 237 (2003) 7–30].

Credit Card Fraud Detection Using Ml Algorithms

Bank credit card default rates are (as predicted by S&P dow Jones index) at all time high for the past few months. This possess a real challenge for banks and other lending financial institutions, as they are now more than ever are in need of a robust risk prediction model to generalize the economic behavior of their current and potential future clients. In real world massive stream of payment requests are coming in every second which is huge challenge to monitor. Machine Learning algorithms help in solving these huge challenges to an extent. These predictive models would not only benefit the lending institutions but also the customer as it would make them more aware of their potential defaulting rate. The goal of this project is to resolve this problem by building and comparing predictive risk models using supervised learning algorithms. We use python libraries to perform various Machine learning algorithms on the credit card dataset and data diagrams to have better visualization of data. Here the credit card fraud detection is done on the basis of some attributes in the dataset like the time factor and the amount factor. The accuracy of the algorithms is also being determined and the most efficient one is said with the highest accuracy obtained..

Intermediate planar algebra revisited, II

We describe the subfactor planar algebra of an intermediate subfactor [Formula: see text] of an extremal subfactor [Formula: see text] of finite Jones index which is not necessarily irreducible.

Variational approach to relative entropies with an application to QFT

We define a new divergence of von Neumann algebras using a variational expression similar in nature to Kosaki’s formula for Umegaki’s relative entropy. Our divergence satisfies several of the usual desirable properties, upper bounds the sandwiched Renyi entropy and reduces to the fidelity in a limit. As an illustration, we use the formula in quantum field theory to compute our divergence between the vacuum in a bipartite system and an “orbifolded”—in the sense of a conditional expectation—system in terms of the Jones index. We take the opportunity to point out an entropic certainty relation associated with an inclusion of von Neumann factors related to the relative entropy. This certainty relation has an equivalent formulation in terms of error correcting codes.

Does Heterogeneity in COVID-19 News Affect Asset Market? Monte-Carlo Simulation Based Wavelet Transform

The current study investigates the connectedness between US COVID-19 news, Dowes Jones Index (DJI), green bonds, gold, and bitcoin prices for the period 22 January 2020–3 August 2021. The study has employed wavelet coherency, the continuous wavelet transform, and the wavelet-based Granger causality methods to obtain the dependence result. The continuous wavelet transform (CWT) analysis reveals that the United States equity market prices are extremely sensitive with regard to spreading coronavirus (USCOVID-19) news and changes in the oil price. Green bonds, gold, and bitcoin have minimal connectedness with the equity market, which might lead to the hedge and safe haven role of these assets during the COVID-19 crisis period. Lastly, very strong comovement was found between bitcoin and gold during the entire sample. The results of the present study offer a number of fresh and noticeable policy implications for international investors and asset managers.

Functor of points and height functions for noncommutative Arakelov geometry

We propose a notion of functor of points for noncommutative spaces, valued in categories of bimodules, and endowed with an action functional determined by a notion of hermitian structures and height functions, modeled on an interpretation of the classical functor of points as a physical sigma model. We discuss different choices of such height functions, based on different notions of volumes and traces, including one based on the Hattori-Stallings rank. We show that the height function determines a dynamical time evolution on an algebra of observables associated to our functor of points. We focus in particular the case of noncommutative arithmetic curves, where the relevant algebras are sums of matrix algebras over division algebras over number fields, and we discuss a more general notion of noncommutative arithmetic spaces in higher dimensions, where our approach suggests an interpretation of the Jones index as a height function.

Compact hypergroups from discrete subfactors

Conformal inclusions of chiral conformal field theories, or more generally inclusions of quantum field theories, are described in the von Neumann algebraic setting by nets of subfactors, possibly with infinite Jones index if one takes non-rational theories into account. With this situation in mind, we study in a purely subfactor theoretical context a certain class of braided discrete subfactors with an additional commutativity constraint, that we call locality, and which corresponds to the commutation relations between field operators at space-like distance in quantum field theory. Examples of subfactors of this type come from taking a minimal action of a compact group on a factor and considering the fixed point subalgebra.We show that to every irreducible local discrete subfactor N⊂M of type III there is an associated canonical compact hypergroup (an invariant for the subfactor) which acts on M by unital completely positive (ucp) maps and which gives N as fixed points. To show this, we establish a duality pairing between the set of all N-bimodular ucp maps on M and a certain commutative unital C⁎-algebra, whose spectrum we identify with the compact hypergroup.If the subfactor has depth 2, the compact hypergroup turns out to be a compact group. This rules out the occurrence of compact quantum groups acting as global gauge symmetries in local conformal field theory.

Rigidity results for von Neumann algebras arising from mixing extensions of profinite actions of groups on probability spaces

Motivated by Popa’s seminal work Popa (Invent Math 165:409-45, 2006), in this paper, we provide a fairly large class of examples of group actions $$\Gamma \curvearrowright X$$ satisfying the extended Neshveyev–Stormer rigidity phenomenon Neshveyev and Stormer (J Funct Anal 195(2):239-261, 2002): whenever $$\Lambda \curvearrowright Y$$ is a free ergodic pmp action and there is a $$*$$ -isomorphism $$\Theta :L^\infty (X)\rtimes \Gamma {\rightarrow }L^\infty (Y)\rtimes \Lambda $$ such that $$\Theta (L(\Gamma ))=L(\Lambda )$$ then the actions $$\Gamma \curvearrowright X$$ and $$\Lambda \curvearrowright Y$$ are conjugate (in a way compatible with $$\Theta $$ ). We also obtain a complete description of the intermediate subalgebras of all (possibly non-free) compact extensions of group actions in the same spirit as the recent results of Suzuki (Complete descriptions of intermediate operator algebras by intermediate extensions of dynamical systems, To appear in Comm Math Phy. ArXiv Preprint: arXiv:1805.02077 , 2020). This yields new consequences to the study of rigidity for crossed product von Neumann algebras and to the classification of subfactors of finite Jones index.

A Nonlinear Autoregressive Distributed Lag (NARDL) Analysis of West Texas Intermediate Oil Prices and the DOW JONES Index

The paper features an examination of the link between the behaviour of oil prices and DowJones Index in a nonlinear autoregressive distributed lag nonlinear autoregressive distributed lag (NARDL) framework. The attraction of NARDL is that it represents the simplest method available of modelling combined short- and long-run asymmetries. The bounds testing framework adopted means that it can be applied to stationary and non-stationary time series vectors, or combinations of both. The data comprise a monthly West Texas Intermediate (WTI) crude oil series from Federal Reserve Bank of St Louis (FRED), commencing in January 2000 and terminating in February 2019, and a corresponding monthly DOW JONES index adjusted-price series obtained from Yahoo Finance. Both series are adjusted for monthly USA CPI values to create real series. The results of the analysis suggest that movements in the lagged real levels of monthly WTI crude oil prices have very significant effects on the behaviour of the DOW JONES Index. They also suggest that negative movements have larger impacts than positive movements in WTI prices, and that long-term multiplier effects take about 9 to 12 months to take effect.

PERSONAL FEATURES OF FOREIGN STUDENTS WITH A HIGH AND LOW LEVEL OF SELF-ACTUALIZATION DURING SOCIO-PSYCHOLOGICAL ADAPTATION

Internationalization is one of the current directions of education development. Specially organized university work and identification of features of self-actualization in foreign students will contribute to the development of more effective programs of psychological support during socio-psychological adaptation. Aim. The paper aims to identify the personal features of foreign students with a high and low level of self-actualization during socio-psychological adaptation. Materials and methods. 52 foreign students aged from 18 to 32 years studying in London were examined. The study was based on the following methods: Yankovsky questionnaire of adaptation to a new socio-cultural environment, the Rogers and Diamond technique of diagnosis of socio-psychological adaptation, the Jones and Crandall Short Index of self-actualization, etc. The results for interpretation were obtained by statistical analysis (Mann – Whitney criterion) and correlation analysis (Spearman rank correlation coefficient) using SPSS 22.0 statistical software package. Results. Foreign students with a high level of self-actualization experience subjective well-being, and social surrounding is significant to them; however, subjective well-being is reduced when it is impossible to preserve individuality and choose a conformal type of adaptation. Foreign students with a low level of self-actualization have a subjective disadvantage that lessens when maintaining their individuality, pragmatic orientation, the acceptance of others, and self-actualization. Nevertheless, foreign students with a low level of self-actualization demonstrated a correlation between self-actualization and the interactive type of adaptation. Conclusion. The prospects for self-actualization of foreign students with a high and low level of self-actualization and the specifics of their socio-psychological adaptation have been studied.

Pengaruh Perubahan Nilai Tukar Rupiah, Tingkat Inflasi, dan Indeks Bursa Internasional Terhadap Indeks Harga Saham Gabungan (IHSG) di Bursa Efek Indonesia (BEI)

This research aimed to know how the effect of Rupiah Exchange Rate, inflation rate, and international Exchange Index towards Composite Stock Price Index (CSPI). The independent variables of this study are Rupiah Exchange Rate (X1), Inflation rate (X2), Dow Jones index (X3), Nikkei 225 index (X4), and Hang Seng index (X5). The Sample was based on monthly time series data from January 2014 to December 2018, with documentation data collection technique from Bank Indonesia and Yahoofinance.com publication. Analytical techniques used were linier regression, classical Assumtions, determination coeffisient test (R2), for hypothesis test used F-test and t-test with significance level of 5%. The results of this indicate that the value of cooficient of determination (R2) 0,901 which means independent variables affect the dependent variable 89,2% and the rest is 10,8% influenced by other variables outside this study. The result of t-test shows that the Rupiah Exchange Rate and Nikkei 225 index have not significant and negative effect on Composite Stock Price Index (CSPI), Inflation rate have significant and negative effect on Composite Stock Price Index (CSPI), Dow Jones index and Hang Seng Index have significant and positive effect on Composite Stock Price Index (CSPI). Keywords: composite stock price index (cspi), rupiah exchange rate, inflation rate, dow jones index, nikkei 225 index, and hang seng index

Trend analysis of river flow and groundwater level for Shipra river basin in India

The declining baseflow and drying up of river during the lean period are important issues in major rivers systems in India. In recent times, more focus has been given to formulate an action plan for river rejuvenation. The present study aims at the assessment of declining flow regime in Shipra river in the Madhya Pradesh state of India. Long-term daily runoff data recorded at the Ujjain gauge discharge site on Shipra river was analyzed to identify trends in dependable flows using a non-parametric Mann–Kendall test. The declining trend for dependable river flow at various probability levels was observed at Ujjain during the beginning of monsoon (month of July) and at the end of monsoon (months of September and October). However, a rising trend was observed during the mid-monsoon season (month of August). The trend analysis of pre-monsoon and post-monsoon groundwater level data indicated falling groundwater level trend in the entire Shipra basin. Significant declining trends in groundwater levels were observed in the middle reach area of the basin where important cities like Indore and Ujjain are located. Wigley and Jones’s index was used to judge the rising or declining flow regime of Shipra river. Average annual rainfall, as well as river runoff, has decreased substantially during the last two decades. The trend analysis of flow and groundwater level data of the Shipra river basin and information derived using Wigley and Jones index will be useful to formulate strategies for the river rejuvenation planning.

Asymptotic Orthogonalization of Subalgebras in II$_1$ Factors

Let M be a II _1 factor with a von Neumann subalgebra Q\subset M that has infinite index under any projection in Q'\cap M (e.g., if Q'\cap M is diffuse, or if Q is an irreducible subfactor with infinite Jones index). We prove that given any separable subalgebra B of the ultrapower II _1 factor M^\omega , for a nonprincipal ultrafilter \omega on \mathbb{N} , there exists a unitary element u\in M^\omega such that uBu^* is orthogonal to Q^\omega .

A Nonlinear Autoregressive Distributed Lag (NARDL) Analysis of West Texas Intermediate Oil Prices and the DOW JONES Index

The paper features an examination of the link between the behaviour of oil prices and DowJones Index in a nonlinear autoregressive distributed lag NARDL framework. The attraction of NARDL is that it represents the simplest method available of modelling combined short- and long-run asymmetries. The bounds testing framework adopted means that it can be applied to stationary and non-stationary time series vectors, or combinations of both. The data comprise a monthly West Texas Intermediate (WTI) crude oil series from FRED, commencing in January 2000 and terminating in February 2019, and a corresponding monthly DOW JONES index adjusted-price series obtained from Yahoo Finance. Both series are adjusted for monthly USA CPI values to create real series. The results of the analysis suggest that movements in the lagged real levels of monthly WTI crude oil prices have very significant effects on the behaviour of the DOW JONES Index. They also suggest that negative movements have larger impacts than positive movements in WTI prices, and that long-term multiplier effects take about 9 to 12 months to take effect.

An angle between intermediate subfactors and its rigidity

We introduce a new notion of an angle between intermediate subfactors and prove various interesting properties of the angle and relate it to the Jones index. We prove a uniform 60 60 to 90 90 degree bound for the angle between minimal intermediate subfactors of a finite index irreducible subfactor. From this rigidity we can bound the number of minimal (or maximal) intermediate subfactors by the kissing number in geometry. As a consequence, the number of intermediate subfactors of an irreducible subfactor has at most exponential growth with respect to the Jones index. This answers a question of Longo’s published in 2003.