We test the out-of-sample trading performance of model-free reinforcement learning (RL) agents and compare them with the performance of equally-weighted portfolios and traditional mean-variance (MV) optimization benchmarks. By dividing European and U.S. indices constituents into factor datasets,...

A set of crop alternatives ranging from traditional, low risk to less common and/or high risk crops is ranked according to their impact on overall risk using two measures. These two measures would aid cropping decisions by providing (1) a priori guidance on overall risk impact, and (2) a means...

Purpose – This paper seeks to examine the benefits of further diversifying a global portfolio of financial assets with New Zealand farm real estate (FRE). Design/methodology/approach – The paper compares efficient sets generated with and without FRE using portfolio theory. Findings – The...

Loss of biodiversity is regarded as one of the key problems affecting the environment. In order to demonstrate the significance of biodiversity, the value of individual species or ecosystems today is generally determined in science and practice. The underlying thought is that a species or...

Intraportfolio correlation (IPC), a measure of portfolio diversification, is becoming increasingly popular among investment practitioners. However, despite the assertions of these adherents, IPC is far from a free lunch. Instead, it is a simplistic and flawed measure that ignores material...

In this study we demonstrate how the notion of diversification can be used in broad-scale resource allocation for surveillance of invasive species. We consider the problem of short-term surveillance for an invasive species in a geographical environment. We find the optimal allocation of...

We provide an axiomatic foundation for the measurement of correlation diversification in a one-period portfolio model. We propose a set of eight desirable axioms for this class of diversification measures. We name the measures satisfying these axioms coherent correlation diversification...