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Record W4414485601 · doi:10.1111/jtsa.70022

Mode Meets Mean: A New Robust Volatility

2025· article· en· W4414485601 on OpenAlexafffund
Tao Wang

Bibliographic record

VenueJournal of Time Series Analysis · 2025
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicFinancial Risk and Volatility Modeling
Canadian institutionsUniversity of Victoria
FundersSocial Sciences and Humanities Research Council of CanadaNatural Sciences and Engineering Research Council of Canada
KeywordsEstimatorOutlierVolatility (finance)Nonparametric statisticsRealized varianceRobustness (evolution)Asymptotic distribution

Abstract

fetched live from OpenAlex

ABSTRACT Ullah and Wang ( Journal of Time Series Analysis , 46 (4), 748–773) introduced a novel nonparametric estimator for the volatility function that leverages the mode to complement traditional mean‐based volatility measures, thereby highlighting unique features of the data. In this paper, we extend their framework to estimate traditional mean volatility by proposing a new approach, termed robust mode‐oriented volatility . Our method treats the bandwidth parameter associate with the kernel objective function as a constant rather than a shrinkage parameter, prioritizing robustness and efficiency while maintaining its foundation in the mode‐based framework. We demonstrate that under ‐mixing time series dependence, the proposed robust estimator retains the same asymptotic distribution as estimators derived under independence assumptions, while achieving the convergence rate of nonparametric mean regression. Furthermore, we theoretically establish that efficiency gains over traditional mean‐based estimation can be realized by appropriately adjusting the bandwidth, particularly in the presence of outliers or heavy‐tailed distributions. In contrast to Ullah and Wang ( Journal of Time Series Analysis , 46 (4), 748–773), which focused on capturing volatility structures specific to the mode, our approach broadens the applicability of their framework by integrating it with traditional mean volatility estimation. The discussions on bandwidth selection and numerical examples highlight the finite sample performance and practical advantages of our robust estimation procedure.

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: Simulation or modeling · Consensus signal: Simulation or modeling
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.472
Threshold uncertainty score0.904

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0010.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0010.001
Bibliometrics0.0010.001
Science and technology studies0.0000.000
Scholarly communication0.0000.001
Open science0.0000.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0010.000

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 head0.019
GPT teacher head0.233
Teacher spread0.214 · 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 designSimulation or modeling
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

Citations0
Published2025
Admission routes2
Has abstractyes

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