We introduce TailCoR, a new measure for tail correlation that is a function of linear and non–linear contributions, the latter characterized by the tails. TailCoR can be exploited in a number of financial applications, such as portfolio selection where the investor faces risks of linear and tail nature –a case that we cover in detail. Moreover, TailCoR has the following advantages: i) it is exa...

Using firm-level panel data for Korean MNEs, we make a distinction between being the only affiliate of a parent firm and being the one of the multiple affiliates of a parent firm. Comparisons of correlations between purchases and sales of each group of the foreign affiliates show distinctive difference in the motivations of FDI and the multinational activities, due to the difference in the numb...

Gas hydrates are a costly problem when they plug oil and gas pipelines. The best way to determine the HFT and pressure is to measure these conditions experimentally for every gas system. Since this is not practical in terms of time and money, correlations are the other alternative tools. There are a small number of correlations for specific gravity method to predict the hydrate formation. As th...

Previous studies indicated that nonlinear properties of Gaussian distributed time series with long-range correlations, u(i), can be detected and quantified by studying the correlations in the magnitude series |u(i)|, the "volatility." However, the origin for this empirical observation still remains unclear and the exact relation between the correlations in u(i) and the correlations in |u(i)| is...

Recent studies have highlighted interesting structural properties of empirical cultural states. Such a state is a collection of vectors of cultural traits of real individuals, based on which one defines a matrix of similarities between individuals. This study provides further insights about the structure encoded in these states, using concepts from random matrix theory. For generating random ma...

Given [Formula: see text], we study two classes of large random matrices the form text] where for every are iid copies a variable (not necessarily independent) sets independent vectors having different covariance and generating well concentrated bilinear forms. We consider main asymptotic regimes as text]: standard one, slightly modified while some text]. Assuming that normalized isotropic “in ...