Many asset pricing models assume that expected returns are driven by common factors. We formulate a model where returns are driven by a string, and no-arbitrage restricts each expected return to capture the asset's granular exposure to all other asset returns: a correlation premium. The model predicts fresh properties for big stocks, which display higher connectivity in bad times, but also work as correlation hedges: they contribute to a negative fraction of the correlation premium, and portfolios that are more exposed to them command a lower premium.
View Article and Find Full Text PDFBackground: It is crucial to distinguish type-1 myocardial infarction (T1MI) from type-2 myocardial infarction (T2MI) at admission and during hospitalization to avoid unnecessary invasive exams and inappropriate admissions to the acute cardiac care unit.
Objectives: The purpose of the study was to define a simple profile derived from commonly used biomarkers to differentiate T1MI from T2MI.
Methods: We prospectively enrolled in an observational study 213 iconsecutive patients with a provisional diagnosis of non-ST-elevation acute myocardial infarction (NSTEMI) admitted to the Cardiology Department.
Schemes of classical shadows have been developed to facilitate the readout of digital quantum devices, but similar tools for analog quantum simulators are scarce and experimentally impractical. In this Letter, we provide a measurement scheme for fermionic quantum devices that estimates second and fourth order correlation functions by means of free fermionic, translationally invariant evolutions-or quenches-and measurements in the mode occupation number basis. We precisely characterize what correlation functions can be recovered and equip the estimates with rigorous bounds on sample complexities, a particularly important feature in light of the difficulty of getting good statistics in reasonable experimental platforms, with measurements being slow.
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