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Record W4210799137 · doi:10.33423/jaf.v21i4.4524

The Performance of US Marijuana Stocks

2021· article· en· W4210799137 on OpenAlexaff
Raymond A. K. Cox, Quan Cheng

Bibliographic record

VenueJournal of Accounting and Finance · 2021
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicMarket Dynamics and Volatility
Canadian institutionsUniversity of the Fraser ValleyThompson Rivers University
Fundersnot available
KeywordsPortfolioStock (firearms)SkewnessDiversification (marketing strategy)KurtosisEconometricsStandard deviationEconomicsOutlierBusinessFinancial economicsStatisticsMathematicsGeography

Abstract

fetched live from OpenAlex

This study examines the investment performance of US based marijuana stocks. Medical marijuana was first legalized in 1996 by the state of California. During the 1996 to 2020 period the 200 US marijuana stocks as a sector portfolio experienced high: mean weekly return, standard deviation, positive skewness, and kurtosis. Sensitivity analysis, to outliers, was conducted on the winsorized returns (removing the top and bottom 10 percent of returns) generated much the same results. More so, the US marijuana stock portfolio outperformed the NASDAQ, DJIA, and S & P 500 stock indexes. Further, the portfolio beta was negative. Investors should consider including US marijuana stocks in their portfolio for both augmented return and risk diversification reasons.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.001
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Observational · Consensus signal: Observational
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.166
Threshold uncertainty score0.236

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0010.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0000.000
Science and technology studies0.0000.000
Scholarly communication0.0000.000
Open science0.0000.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0000.000

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.011
GPT teacher head0.197
Teacher spread0.186 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one teacher head, not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designObservational
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations3
Published2021
Admission routes1
Has abstractyes

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