{"id":"W4413740308","doi":"10.1080/14697688.2025.2541859","title":"Macroscopic properties of equity markets: stylized facts and portfolio performance","year":2025,"lang":"en","type":"article","venue":"Quantitative Finance","topic":"Financial Markets and Investment Strategies","field":"Economics, Econometrics and Finance","cited_by":1,"is_retracted":false,"has_abstract":true,"ca_institutions":"University of Toronto","funders":"Natural Sciences and Engineering Research Council of Canada","keywords":"Stylized fact; Equity (law); Financial economics; Portfolio; Economics; Econometrics; Monetary economics; Business","routes":{"ca_aff":true,"ca_fund":true,"ca_venue":false,"about_ca":false,"invisible_to_affiliation_only":false},"retraction":null,"screen":null,"direct_labels":[],"prediction":{"model_version":"codex-gemma-dda1882f352a","candidate_categories":[],"consensus_categories":[],"category_scores_codex":[0.0004110597,0.0001833516,0.0005033287,0.0001909277,0.0001361212,0.00005102584,0.0001936295,0.00007715929,0.00005866207],"category_scores_gemma":[0.0001693628,0.000182978,0.00005738169,0.0003389848,0.000350957,0.0004304581,0.0001382985,0.0001142441,0.00002861059],"about_ca_system_candidate":false,"about_ca_system_consensus":false,"about_ca_system_score_codex":0.00004104854,"about_ca_system_score_gemma":0.00006513665,"about_ca_topic_candidate":false,"about_ca_topic_consensus":false,"about_ca_topic_score_codex":0.0001510136,"about_ca_topic_score_gemma":0.00001232613,"domain_scores_codex":[0.9986958,0.00001958974,0.000593327,0.0003690394,0.00004246492,0.0002797682],"domain_scores_gemma":[0.9992796,0.00004329399,0.0003510551,0.0002362913,0.00006509496,0.00002465457],"domain_codex":null,"domain_gemma":null,"domain_candidate":null,"domain_consensus":null,"study_design_codex":"theoretical_or_conceptual","study_design_gemma":"observational","study_design_scores_codex":[0.0001576728,0.00007157876,0.02988676,0.000448228,0.000035875,0.000001578403,0.0003948596,0.000009376281,0.0005238057,0.9660927,0.0008188905,0.001558685],"study_design_scores_gemma":[0.001387841,0.0004237177,0.8787602,0.0007801573,0.00001382995,0.000001448399,0.0003667078,0.00265007,0.008979434,0.07276417,0.0333856,0.0004868483],"study_design_candidate":"theoretical_or_conceptual","study_design_consensus":null,"genre_codex":"empirical","genre_gemma":"empirical","genre_scores_codex":[0.9064375,0.01296263,0.0002702204,0.0001956438,0.0002590322,0.0002609231,0.00006750252,0.00002204967,0.07952447],"genre_scores_gemma":[0.9911062,0.004335865,0.00134212,0.0001758882,0.000008362149,0.00002738015,0.000003544369,0.00001095044,0.002989691],"genre_candidate":"empirical","genre_consensus":"empirical","teacher_disagreement_score":0.8933285,"threshold_uncertainty_score":0.7461624,"prediction_status":"machine_predicted_unvalidated"},"machine_scores":{"provisional":true,"baseline":true,"maturity_gate_passed":false,"score_opus":0.06022274948166912,"score_gpt":0.2778447990135151,"score_spread":0.2176220495318459,"validation_status":"score_only:v0-immature-baseline","note":"Baseline scores from an immature model (maturity gate not passed). Scores rank; they never assert a category."}}