A new investment method with AutoEncoder: Applications to crypto currencies

•We propose a new investment strategy free from the estimation of expected returns.•AutoEncoder extracts the factors which enable to prevent the large drawdown.•The extracted non-linear factors are implemented by the dynamic delta hedging.•Backtesting with multiple cryptocurrencies shows the effecti...

Full description

Saved in:
Bibliographic Details
Published in:Expert systems with applications Vol. 162; p. 113730
Main Authors: Nakano, Masafumi, Takahashi, Akihiko
Format: Journal Article
Language:English
Published: New York Elsevier Ltd 30.12.2020
Elsevier BV
Subjects:
ISSN:0957-4174, 1873-6793
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Abstract •We propose a new investment strategy free from the estimation of expected returns.•AutoEncoder extracts the factors which enable to prevent the large drawdown.•The extracted non-linear factors are implemented by the dynamic delta hedging.•Backtesting with multiple cryptocurrencies shows the effectiveness of our strategy. This paper proposes a novel approach to the portfolio management using an AutoEncoder. In particular, features learned by an AutoEncoder with ReLU are directly exploited to portfolio constructions. Since the AutoEncoder extracts characteristics of data through a non-linear activation function ReLU, its realization is generally difficult due to the non-linear transformation procedure. In the current paper, we solve this problem by taking full advantage of the similarity of ReLU and an option payoff. Especially, this paper shows that the features are successfully replicated by applying so-called dynamic delta hedging strategy. An out of sample simulation with crypto currency dataset shows the effectiveness of our proposed strategy.
AbstractList This paper proposes a novel approach to the portfolio management using an AutoEncoder. In particular, features learned by an AutoEncoder with ReLU are directly exploited to portfolio constructions. Since the AutoEncoder extracts characteristics of data through a non-linear activation function ReLU, its realization is generally difficult due to the non-linear transformation procedure. In the current paper, we solve this problem by taking full advantage of the similarity of ReLU and an option payoff. Especially, this paper shows that the features are successfully replicated by applying so-called dynamic delta hedging strategy. An out of sample simulation with crypto currency dataset shows the effectiveness of our proposed strategy.
•We propose a new investment strategy free from the estimation of expected returns.•AutoEncoder extracts the factors which enable to prevent the large drawdown.•The extracted non-linear factors are implemented by the dynamic delta hedging.•Backtesting with multiple cryptocurrencies shows the effectiveness of our strategy. This paper proposes a novel approach to the portfolio management using an AutoEncoder. In particular, features learned by an AutoEncoder with ReLU are directly exploited to portfolio constructions. Since the AutoEncoder extracts characteristics of data through a non-linear activation function ReLU, its realization is generally difficult due to the non-linear transformation procedure. In the current paper, we solve this problem by taking full advantage of the similarity of ReLU and an option payoff. Especially, this paper shows that the features are successfully replicated by applying so-called dynamic delta hedging strategy. An out of sample simulation with crypto currency dataset shows the effectiveness of our proposed strategy.
ArticleNumber 113730
Author Nakano, Masafumi
Takahashi, Akihiko
Author_xml – sequence: 1
  givenname: Masafumi
  surname: Nakano
  fullname: Nakano, Masafumi
  organization: GCI Asset Management, 10F Chiyoda First Bldg. East, 3-8-1 Nishi-Kanda, Chiyoda-ku, Tokyo 101-0065, Japan
– sequence: 2
  givenname: Akihiko
  surname: Takahashi
  fullname: Takahashi, Akihiko
  email: akihikot@e.u-tokyo.ac.jp
  organization: Faculty of Economics, The University of Tokyo, 7-3-1 Hongo Bunkyo-ku, Tokyo 113-0033, Japan
BookMark eNp9kDtPwzAQgC1UJNrCH2CKxJziZ5wglqriJSqxwGw5zkV11NrBdlv135NSJoZOJ93dd49vgkbOO0DoluAZwaS472YQ93pGMR0ShEmGL9CYlJLlhazYCI1xJWTOieRXaBJjhzGRGMsxep9nDvaZdTuIaQMuZRtIK99ke5tW2Xyb_JMzvoHwkM37fm2NTta7mCWfmXDoj2EbAjhjIV6jy1avI9z8xSn6en76XLzmy4-Xt8V8mRsmacopr-uSMaMbLCsOVaM1UDBECzJUuK4NFrrWjMuqrUXBhaElYF62pqxFSwmborvT3D747-1wt-r8NrhhpaK8EFwKgcuhqzx1meBjDNAqY9Pv9Slou1YEq6M61amjOnVUp07qBpT-Q_tgNzoczkOPJwiG13cWgoqDFGegsQFMUo235_AfzSeKmg
CitedBy_id crossref_primary_10_3390_buildings12030357
crossref_primary_10_1016_j_engappai_2023_106701
crossref_primary_10_1007_s11053_021_09890_w
crossref_primary_10_1111_issj_12542
crossref_primary_10_1186_s40854_025_00768_x
crossref_primary_10_1016_j_eswa_2023_121091
crossref_primary_10_1016_j_eswa_2021_114747
crossref_primary_10_1007_s11424_023_2296_4
crossref_primary_10_1108_INTR_05_2020_0299
Cites_doi 10.1086/294743
10.1016/j.eswa.2017.04.030
10.1016/j.physa.2018.07.017
10.1016/j.eswa.2016.12.034
10.1016/j.eswa.2015.05.013
10.1016/j.jfineco.2012.05.011
10.1086/260062
10.3905/JPM.2008.35.1.40
10.1126/science.1127647
10.1086/261527
10.1016/j.physa.2018.06.131
10.1016/0304-4076(90)90099-F
10.3905/joi.2012.21.3.111
10.1080/14697688.2013.779014
10.1016/j.neucom.2015.08.104
10.1093/rfs/hhm014
10.1145/2689746.2689747
10.1109/TFUZZ.2011.2181520
10.1111/j.1540-6261.1992.tb03986.x
10.1111/0022-1082.00347
10.3905/jpm.2010.36.4.060
10.1111/j.1540-6261.1985.tb02383.x
10.1016/j.eswa.2017.03.045
10.1007/s12010-011-9240-0
10.1016/j.eswa.2014.12.003
10.1371/journal.pone.0180944
10.1057/palgrave.jam.2250084
10.1093/rfs/hhm055
10.21314/JOR.2014.284
10.1007/BF02551274
10.1016/j.frl.2019.03.004
10.1016/j.ejor.2010.06.043
10.1016/0304-405X(93)90023-5
10.1016/j.eswa.2013.06.071
10.1162/neco.1997.9.7.1493
10.2139/ssrn.720801
10.3905/joi.3.3.11
10.1109/TFUZZ.2011.2144599
10.1016/j.omega.2004.07.024
10.1057/jam.2015.5
10.1109/TNN.2007.891629
10.1111/jofi.12121
10.1016/j.knosys.2017.06.006
10.1162/neco.2006.18.7.1527
10.1145/3097983.3098052
10.1002/fut.20339
10.2469/faj.v48.n5.28
10.1007/s10690-018-9238-5
ContentType Journal Article
Copyright 2020 Elsevier Ltd
Copyright Elsevier BV Dec 30, 2020
Copyright_xml – notice: 2020 Elsevier Ltd
– notice: Copyright Elsevier BV Dec 30, 2020
DBID AAYXX
CITATION
7SC
8FD
JQ2
L7M
L~C
L~D
DOI 10.1016/j.eswa.2020.113730
DatabaseName CrossRef
Computer and Information Systems Abstracts
Technology Research Database
ProQuest Computer Science Collection
Advanced Technologies Database with Aerospace
Computer and Information Systems Abstracts – Academic
Computer and Information Systems Abstracts Professional
DatabaseTitle CrossRef
Computer and Information Systems Abstracts
Technology Research Database
Computer and Information Systems Abstracts – Academic
Advanced Technologies Database with Aerospace
ProQuest Computer Science Collection
Computer and Information Systems Abstracts Professional
DatabaseTitleList Computer and Information Systems Abstracts

DeliveryMethod fulltext_linktorsrc
Discipline Computer Science
EISSN 1873-6793
ExternalDocumentID 10_1016_j_eswa_2020_113730
S0957417420305546
GroupedDBID --K
--M
.DC
.~1
0R~
13V
1B1
1RT
1~.
1~5
4.4
457
4G.
5GY
5VS
7-5
71M
8P~
9JN
9JO
AAAKF
AABNK
AACTN
AAEDT
AAEDW
AAIKJ
AAKOC
AALRI
AAOAW
AAQFI
AARIN
AATTM
AAXKI
AAXUO
AAYFN
ABBOA
ABFNM
ABJNI
ABMAC
ABMVD
ABUCO
ACDAQ
ACGFS
ACHRH
ACNTT
ACRLP
ACZNC
ADBBV
ADEZE
ADTZH
AEBSH
AECPX
AEIPS
AEKER
AENEX
AFTJW
AGHFR
AGUBO
AGUMN
AGYEJ
AHHHB
AHJVU
AHZHX
AIALX
AIEXJ
AIKHN
AITUG
AKRWK
ALEQD
ALMA_UNASSIGNED_HOLDINGS
AMRAJ
ANKPU
AOUOD
APLSM
AXJTR
BJAXD
BKOJK
BLXMC
BNPGV
BNSAS
CS3
DU5
EBS
EFJIC
EO8
EO9
EP2
EP3
F5P
FDB
FIRID
FNPLU
FYGXN
G-Q
GBLVA
GBOLZ
HAMUX
IHE
J1W
JJJVA
KOM
LG9
LY1
LY7
M41
MO0
N9A
O-L
O9-
OAUVE
OZT
P-8
P-9
P2P
PC.
PQQKQ
Q38
ROL
RPZ
SDF
SDG
SDP
SDS
SES
SPC
SPCBC
SSB
SSD
SSH
SSL
SST
SSV
SSZ
T5K
TN5
~G-
29G
9DU
AAAKG
AAQXK
AAYWO
AAYXX
ABKBG
ABUFD
ABWVN
ABXDB
ACLOT
ACNNM
ACRPL
ACVFH
ADCNI
ADJOM
ADMUD
ADNMO
AEUPX
AFJKZ
AFPUW
AGQPQ
AIGII
AIIUN
AKBMS
AKYEP
APXCP
ASPBG
AVWKF
AZFZN
CITATION
EFKBS
EFLBG
EJD
FEDTE
FGOYB
G-2
HLZ
HVGLF
HZ~
R2-
SBC
SET
SEW
WUQ
XPP
ZMT
~HD
7SC
8FD
JQ2
L7M
L~C
L~D
ID FETCH-LOGICAL-c372t-24bb833cad0794e9daae2ec1a514bb4abc05aba3479fb5645c28e048fc8b5f213
ISICitedReferencesCount 10
ISICitedReferencesURI http://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=Summon&SrcAuth=ProQuest&DestLinkType=CitingArticles&DestApp=WOS_CPL&KeyUT=000582113700014&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D
ISSN 0957-4174
IngestDate Sun Nov 09 07:26:22 EST 2025
Sat Nov 29 07:08:16 EST 2025
Tue Nov 18 21:47:17 EST 2025
Sun Apr 06 06:53:31 EDT 2025
IsDoiOpenAccess false
IsOpenAccess true
IsPeerReviewed true
IsScholarly true
Keywords Crypto currency
Artificial neural network
AutoEncoder
Delta hedging
Language English
LinkModel OpenURL
MergedId FETCHMERGED-LOGICAL-c372t-24bb833cad0794e9daae2ec1a514bb4abc05aba3479fb5645c28e048fc8b5f213
Notes ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
content type line 14
OpenAccessLink https://doi.org/10.2139/ssrn.3473684
PQID 2465475508
PQPubID 2045477
ParticipantIDs proquest_journals_2465475508
crossref_citationtrail_10_1016_j_eswa_2020_113730
crossref_primary_10_1016_j_eswa_2020_113730
elsevier_sciencedirect_doi_10_1016_j_eswa_2020_113730
PublicationCentury 2000
PublicationDate 2020-12-30
PublicationDateYYYYMMDD 2020-12-30
PublicationDate_xml – month: 12
  year: 2020
  text: 2020-12-30
  day: 30
PublicationDecade 2020
PublicationPlace New York
PublicationPlace_xml – name: New York
PublicationTitle Expert systems with applications
PublicationYear 2020
Publisher Elsevier Ltd
Elsevier BV
Publisher_xml – name: Elsevier Ltd
– name: Elsevier BV
References Welch, Goyal (b0325) 2007; 21
Black, Litterman (b0035) 1992; 48
(p. 4). ACM.
Bollerslev, Engle, Wooldridge (b0045) 1988; 96
Takahashi, Yamazaki (b0310) 2009; 29
Leland (b0175) 1985; 40
Nakano, Takahashi, Takahashi (b0220) 2017; 73
Opdyke (b0255) 2007; 8
Lettau, Ludvigson (b0190) 2001; 56
Wang, Yao, Zhao (b0320) 2016; 184
Zhou, C., & Paffenroth, R. C. (2017). Anomaly detection with robust deep autoencoders. In
Wang, Wang, Watada (b0315) 2011; 19
Nakano, Takahashi, Takahashi (b0225) 2017; 81
Song, Liu, Huang, Wang, Tan (b0300) 2013
Pai, Lin (b0265) 2005; 33
Christie, S. (2005).
Engle, Ng, Rothschild (b0105) 1990; 45
Lohre, Neugebauer, Zimmer (b0200) 2012; 21
.
Black, Scholes (b0040) 1973; 81
Bao, Yue, Rao (b0025) 2017; 12
Hinton, Osindero, Teh (b0130) 2006; 18
Fama (b0110) 1965; 38
Ballings, Van den Poel, Hespeels, Gryp (b0020) 2015; 42
Le Tran, Leirvik (b0185) 2019; 101382
Gewers, F. L., Ferreira, G. R., de Arruda, H. F., Silva, F. N., Comin, C. H., Amancio, D. R., & Costa, L. D. F. (2018).
Nakano, Takahashi, Takahashi (b0230) 2017
Lohre, H., Opfer, H., & Orszag, G. (2014). Diversifying risk parity.
Rather, Agarwal, Sastry (b0275) 2015; 42
Nakano, Takahashi, Takahashi (b0235) 2018; 510
arXiv preprint arXiv:1412.6980.
Rom, Ferguson (b0285) 1994; 3
Johannes, Korteweg, Polson (b0150) 2014; 69
Kwon, Moon (b0165) 2007; 18
Xie, Girshick, Farhadi (b0330) 2016
Campbell, Thompson (b0065) 2007; 21
Hurst, Ooi, Pedersen (b0145) 2013; 11
Lardic, Priaulet, Priaulet (b0170) 2003; 1
Sakurada, M., & Yairi, T. (2014). Anomaly detection using autoencoders with nonlinear dimensionality reduction. In
Boyle, Vorst (b0050) 1992; 47
OuYang, Xu, Huang, Chen (b0260) 2011; 165
Zakamouline (b0335) 2006; 118
Nguyen, Gordon-Brown (b0250) 2012; 20
(5), 53–79.
Markowitz (b0210) 1952; 7
Chopra, Ziemba (b0075) 1993; 1993
Shreve (b0295) 2004; Vol. 11
Cybenko (b0090) 1989; 2
Maillard, Roncalli, Teiletche (b0205) 2010; 36
Anderson, T. W. (1958).
Huck (b0140) 2010; 207
Nakano, Takahashi, Takahashi, Tokioka (b0245) 2018; 25
An, Cho (b0005) 2015; 2
Hinton, Salakhutdinov (b0135) 2006; 313
Choueifaty, Coignard (b0080) 2008; 35
Le Tran, Leirvik (b0180) 2019; 29
Briere, Oosterlinck, Szafarz (b0060) 2015; 16
Partovi, Caputo (b0270) 2004; 7
Fama, French (b0120) 2012; 105
Aslan, Sensoy (b0015) 2019
Begušić, Kostanjčar, Stanley, Podobnik (b0030) 2018; 510
Takahashi, Yamamoto (b0305) 2013; 13
de Oliveira, Nobre, Zarate (b0095) 2013; 40
arXiv preprint arXiv:1804.02502.
Braga (b0055) 2015
Kingma, D. P., & Ba, J. (2014).
Chong, Han, Park (b0070) 2017; 83
Nakano, Takahashi, Takahashi (b0240) 2019; 105590
Fama, French (b0115) 1993; 33
Macquarie Applied Finance Centre Research Paper.
Meucci (b0215) 2009; 22
Rebonato (b0280) 2018
(pp. 665–674). ACM.
Dultzin-Hacyan, Ruano (b0100) 1996; 305
Kambhatla, Leen (b0155) 1997; 9
10.1016/j.eswa.2020.113730_b0125
Nakano (10.1016/j.eswa.2020.113730_b0220) 2017; 73
Partovi (10.1016/j.eswa.2020.113730_b0270) 2004; 7
Bao (10.1016/j.eswa.2020.113730_b0025) 2017; 12
Engle (10.1016/j.eswa.2020.113730_b0105) 1990; 45
de Oliveira (10.1016/j.eswa.2020.113730_b0095) 2013; 40
Opdyke (10.1016/j.eswa.2020.113730_b0255) 2007; 8
Fama (10.1016/j.eswa.2020.113730_b0115) 1993; 33
Black (10.1016/j.eswa.2020.113730_b0040) 1973; 81
Nakano (10.1016/j.eswa.2020.113730_b0245) 2018; 25
Rom (10.1016/j.eswa.2020.113730_b0285) 1994; 3
Ballings (10.1016/j.eswa.2020.113730_b0020) 2015; 42
Leland (10.1016/j.eswa.2020.113730_b0175) 1985; 40
Braga (10.1016/j.eswa.2020.113730_b0055) 2015
Takahashi (10.1016/j.eswa.2020.113730_b0305) 2013; 13
Xie (10.1016/j.eswa.2020.113730_b0330) 2016
10.1016/j.eswa.2020.113730_b0010
Le Tran (10.1016/j.eswa.2020.113730_b0180) 2019; 29
10.1016/j.eswa.2020.113730_b0290
Song (10.1016/j.eswa.2020.113730_b0300) 2013
Hurst (10.1016/j.eswa.2020.113730_b0145) 2013; 11
Fama (10.1016/j.eswa.2020.113730_b0110) 1965; 38
Begušić (10.1016/j.eswa.2020.113730_b0030) 2018; 510
Fama (10.1016/j.eswa.2020.113730_b0120) 2012; 105
Hinton (10.1016/j.eswa.2020.113730_b0130) 2006; 18
Nakano (10.1016/j.eswa.2020.113730_b0240) 2019; 105590
Briere (10.1016/j.eswa.2020.113730_b0060) 2015; 16
Huck (10.1016/j.eswa.2020.113730_b0140) 2010; 207
Welch (10.1016/j.eswa.2020.113730_b0325) 2007; 21
Choueifaty (10.1016/j.eswa.2020.113730_b0080) 2008; 35
Markowitz (10.1016/j.eswa.2020.113730_b0210) 1952; 7
Rebonato (10.1016/j.eswa.2020.113730_b0280) 2018
Dultzin-Hacyan (10.1016/j.eswa.2020.113730_b0100) 1996; 305
Nakano (10.1016/j.eswa.2020.113730_b0225) 2017; 81
Nakano (10.1016/j.eswa.2020.113730_b0235) 2018; 510
An (10.1016/j.eswa.2020.113730_b0005) 2015; 2
10.1016/j.eswa.2020.113730_b0085
Rather (10.1016/j.eswa.2020.113730_b0275) 2015; 42
Nakano (10.1016/j.eswa.2020.113730_b0230) 2017
10.1016/j.eswa.2020.113730_b0160
Zakamouline (10.1016/j.eswa.2020.113730_b0335) 2006; 118
Campbell (10.1016/j.eswa.2020.113730_b0065) 2007; 21
Maillard (10.1016/j.eswa.2020.113730_b0205) 2010; 36
Pai (10.1016/j.eswa.2020.113730_b0265) 2005; 33
Kambhatla (10.1016/j.eswa.2020.113730_b0155) 1997; 9
OuYang (10.1016/j.eswa.2020.113730_b0260) 2011; 165
Bollerslev (10.1016/j.eswa.2020.113730_b0045) 1988; 96
Meucci (10.1016/j.eswa.2020.113730_b0215) 2009; 22
Hinton (10.1016/j.eswa.2020.113730_b0135) 2006; 313
Lardic (10.1016/j.eswa.2020.113730_b0170) 2003; 1
10.1016/j.eswa.2020.113730_b0195
Takahashi (10.1016/j.eswa.2020.113730_b0310) 2009; 29
Nguyen (10.1016/j.eswa.2020.113730_b0250) 2012; 20
Lohre (10.1016/j.eswa.2020.113730_b0200) 2012; 21
Wang (10.1016/j.eswa.2020.113730_b0320) 2016; 184
Cybenko (10.1016/j.eswa.2020.113730_b0090) 1989; 2
Aslan (10.1016/j.eswa.2020.113730_b0015) 2019
Wang (10.1016/j.eswa.2020.113730_b0315) 2011; 19
Chong (10.1016/j.eswa.2020.113730_b0070) 2017; 83
Boyle (10.1016/j.eswa.2020.113730_b0050) 1992; 47
Johannes (10.1016/j.eswa.2020.113730_b0150) 2014; 69
Shreve (10.1016/j.eswa.2020.113730_b0295) 2004; Vol. 11
Black (10.1016/j.eswa.2020.113730_b0035) 1992; 48
Chopra (10.1016/j.eswa.2020.113730_b0075) 1993; 1993
Kwon (10.1016/j.eswa.2020.113730_b0165) 2007; 18
Lettau (10.1016/j.eswa.2020.113730_b0190) 2001; 56
Le Tran (10.1016/j.eswa.2020.113730_b0185) 2019; 101382
10.1016/j.eswa.2020.113730_b0340
References_xml – volume: 510
  start-page: 400
  year: 2018
  end-page: 406
  ident: b0030
  article-title: Scaling properties of extreme price fluctuations in Bitcoin markets
  publication-title: Physica A: Statistical Mechanics and its Applications
– start-page: 478
  year: 2016
  end-page: 487
  ident: b0330
  article-title: Unsupervised deep embedding for clustering analysis
  publication-title: International conference on machine learning
– reference: Macquarie Applied Finance Centre Research Paper.
– volume: 7
  start-page: 1
  year: 2004
  end-page: 10
  ident: b0270
  article-title: Principal portfolios: Recasting the efficient frontier
  publication-title: Economics Bulletin
– volume: 29
  start-page: 1
  year: 2009
  end-page: 15
  ident: b0310
  article-title: Efficient static replication of European options under exponential Levy models
  publication-title: Journal of Futures Markets
– reference: . arXiv preprint arXiv:1804.02502.
– volume: 83
  start-page: 187
  year: 2017
  end-page: 205
  ident: b0070
  article-title: Deep learning networks for stock market analysis and prediction: Methodology, data representations, and case studies
  publication-title: Expert Systems with Applications
– volume: 101382
  year: 2019
  ident: b0185
  article-title: Efficiency in the markets of crypto-currencies
  publication-title: Finance Research Letters
– year: 2015
  ident: b0055
  article-title: Risk-based approaches to asset allocation: Concepts and practical applications
– volume: 42
  start-page: 7046
  year: 2015
  end-page: 7056
  ident: b0020
  article-title: Evaluating multiple classifiers for stock price direction prediction
  publication-title: Expert Systems with Applications
– volume: 36
  start-page: 60
  year: 2010
  end-page: 70
  ident: b0205
  article-title: The properties of equally weighted risk contribution portfolios
  publication-title: The Journal of Portfolio Management
– volume: 96
  start-page: 116
  year: 1988
  end-page: 131
  ident: b0045
  article-title: A capital asset pricing model with time-varying covariances
  publication-title: Journal of Political Economy
– volume: 21
  start-page: 1455
  year: 2007
  end-page: 1508
  ident: b0325
  article-title: A comprehensive look at the empirical performance of equity premium prediction
  publication-title: The Review of Financial Studies
– reference: Kingma, D. P., & Ba, J. (2014).
– volume: 48
  start-page: 28
  year: 1992
  end-page: 43
  ident: b0035
  article-title: Global portfolio optimization
  publication-title: Financial Analysts Journal
– volume: 42
  start-page: 3234
  year: 2015
  end-page: 3241
  ident: b0275
  article-title: Recurrent neural network and a hybrid model for prediction of stock returns
  publication-title: Expert Systems with Applications
– volume: 47
  start-page: 271
  year: 1992
  end-page: 293
  ident: b0050
  article-title: Option replication in discrete time with transaction costs
  publication-title: The Journal of Finance
– volume: 29
  start-page: 141
  year: 2019
  end-page: 151
  ident: b0180
  article-title: A simple but powerful measure of market efficiency
  publication-title: Finance Research Letters
– volume: 165
  start-page: 148
  year: 2011
  end-page: 154
  ident: b0260
  article-title: Metabolomic profiling of serum from human pancreatic cancer patients using 1 H NMR spectroscopy and principal component analysis
  publication-title: Applied Biochemistry and Biotechnology
– year: 2018
  ident: b0280
  article-title: Bond pricing and yield curve modeling: A structural approach
– volume: 69
  start-page: 611
  year: 2014
  end-page: 644
  ident: b0150
  article-title: Sequential learning, predictability, and optimal portfolio returns
  publication-title: The Journal of Finance
– reference: Zhou, C., & Paffenroth, R. C. (2017). Anomaly detection with robust deep autoencoders. In
– reference: . arXiv preprint arXiv:1412.6980.
– volume: 207
  start-page: 1702
  year: 2010
  end-page: 1716
  ident: b0140
  article-title: Pairs trading and outranking: The multi-step-ahead forecasting case
  publication-title: European Journal of Operational Research
– volume: 105590
  year: 2019
  ident: b0240
  article-title: State space approach to adaptive fuzzy modeling for financial investment
  publication-title: Applied Soft Computing
– volume: 1993
  start-page: 2
  year: 1993
  ident: b0075
  article-title: The effect of errors in means, variances, and covariances on optimal portfolio choice
  publication-title: Journal of Portfolio Management, Winter
– volume: 38
  start-page: 34
  year: 1965
  end-page: 105
  ident: b0110
  article-title: The behavior of stock-market prices
  publication-title: The Journal of Business
– volume: 305
  start-page: 719
  year: 1996
  ident: b0100
  article-title: General statistics and principal component analysis of multiwavelength properties of Seyfert galaxies
  publication-title: Astronomy and Astrophysics
– start-page: 117
  year: 2013
  end-page: 124
  ident: b0300
  article-title: Auto-encoder based data clustering
  publication-title: Iberoamerican Congress on Pattern Recognition
– volume: 16
  start-page: 365
  year: 2015
  end-page: 373
  ident: b0060
  article-title: Virtual currency, tangible return: Portfolio diversification with bitcoin
  publication-title: Journal of Asset Management
– year: 2017
  ident: b0230
  article-title: Fuzzy logic-based portfolio selection with particle filtering and anomaly detection
  publication-title: Knowledge-Based Systems
– reference: Sakurada, M., & Yairi, T. (2014). Anomaly detection using autoencoders with nonlinear dimensionality reduction. In
– volume: 8
  start-page: 308
  year: 2007
  end-page: 336
  ident: b0255
  article-title: Comparing Sharpe ratios: So where are the p-values?
  publication-title: Journal of Asset Management
– reference: Christie, S. (2005).
– volume: 18
  start-page: 1527
  year: 2006
  end-page: 1554
  ident: b0130
  article-title: A fast learning algorithm for deep belief nets
  publication-title: Neural Computation
– volume: 73
  start-page: 187
  year: 2017
  end-page: 200
  ident: b0220
  article-title: Generalized exponential moving average (EMA) model with particle filtering and anomaly detection
  publication-title: Expert Systems with Applications
– volume: 21
  start-page: 1509
  year: 2007
  end-page: 1531
  ident: b0065
  article-title: Predicting excess stock returns out of sample: Can anything beat the historical average?
  publication-title: The Review of Financial Studies
– volume: 7
  start-page: 77
  year: 1952
  end-page: 91
  ident: b0210
  article-title: Portfolio selection
  publication-title: The Journal of Finance
– volume: 19
  start-page: 758
  year: 2011
  end-page: 769
  ident: b0315
  article-title: Fuzzy-portfolio-selection models with value-at-risk
  publication-title: IEEE Transactions on Fuzzy Systems
– volume: 118
  start-page: 70
  year: 2006
  end-page: 82
  ident: b0335
  article-title: Optimal hedging of options with transaction costs
  publication-title: Wilmott Magazine
– volume: Vol. 11
  year: 2004
  ident: b0295
  publication-title: Stochastic calculus for finance II: Continuous-time models
– volume: 3
  start-page: 11
  year: 1994
  end-page: 17
  ident: b0285
  article-title: Post-modern portfolio theory comes of age
  publication-title: Journal of Investing
– reference: (p. 4). ACM.
– year: 2019
  ident: b0015
  article-title: Intraday efficiency-frequency nexus in the cryptocurrency markets
  publication-title: Finance Research Letters
– volume: 22
  start-page: 74
  year: 2009
  ident: b0215
  article-title: Managing diversification
  publication-title: Risk
– volume: 33
  start-page: 497
  year: 2005
  end-page: 505
  ident: b0265
  article-title: A hybrid ARIMA and support vector machines model in stock price forecasting
  publication-title: Omega
– volume: 2
  start-page: 303
  year: 1989
  end-page: 314
  ident: b0090
  article-title: Approximation by superpositions of a sigmoidal function
  publication-title: Mathematics of Control, Signals and Systems
– volume: 1
  start-page: 327
  year: 2003
  end-page: 349
  ident: b0170
  article-title: PCA of the yield curve dynamics: Questions of methodologies
  publication-title: Journal of Bond Trading and Management
– reference: (5), 53–79.
– volume: 21
  start-page: 111
  year: 2012
  end-page: 128
  ident: b0200
  article-title: Diversified risk parity strategies for equity portfolio selection
  publication-title: The Journal of Investing
– volume: 81
  start-page: 53
  year: 2017
  end-page: 66
  ident: b0225
  article-title: Creating investment scheme with state space modeling
  publication-title: Expert Systems with Applications
– volume: 40
  start-page: 7596
  year: 2013
  end-page: 7606
  ident: b0095
  article-title: Applying Artificial Neural Networks to prediction of stock price and improvement of the directional prediction index? Case study of PETR4, Petrobras, Brazil
  publication-title: Expert Systems with Applications
– volume: 25
  start-page: 47
  year: 2018
  end-page: 70
  ident: b0245
  article-title: On the effect of Bank of Japan’s outright purchase on the JGB yield curve
  publication-title: Asia-Pacific Financial Markets
– volume: 40
  start-page: 1283
  year: 1985
  end-page: 1301
  ident: b0175
  article-title: Option pricing and replication with transactions costs
  publication-title: The Journal of Finance
– volume: 20
  start-page: 666
  year: 2012
  end-page: 682
  ident: b0250
  article-title: Constrained fuzzy hierarchical analysis for portfolio selection under higher moments
  publication-title: IEEE Transactions on Fuzzy Systems
– volume: 12
  year: 2017
  ident: b0025
  article-title: A deep learning framework for financial time series using stacked autoencoders and long-short term memory
  publication-title: PloS One
– volume: 81
  start-page: 637
  year: 1973
  end-page: 654
  ident: b0040
  article-title: The pricing of options and corporate liabilities
  publication-title: Journal of Political Economy
– volume: 45
  start-page: 213
  year: 1990
  end-page: 237
  ident: b0105
  article-title: Asset pricing with a factor-ARCH covariance structure: Empirical estimates for treasury bills
  publication-title: Journal of Econometrics
– volume: 184
  start-page: 232
  year: 2016
  end-page: 242
  ident: b0320
  article-title: Auto-encoder based dimensionality reduction
  publication-title: Neurocomputing
– volume: 313
  start-page: 504
  year: 2006
  end-page: 507
  ident: b0135
  article-title: Reducing the dimensionality of data with neural networks
  publication-title: Science
– volume: 13
  start-page: 1559
  year: 2013
  end-page: 1573
  ident: b0305
  article-title: Generating a target payoff distribution with the cheapest dynamic portfolio: An application to hedge fund replication
  publication-title: Quantitative Finance
– reference: Lohre, H., Opfer, H., & Orszag, G. (2014). Diversifying risk parity.
– volume: 11
  start-page: 42
  year: 2013
  end-page: 58
  ident: b0145
  article-title: Demystifying managed futures
  publication-title: Journal of Investment Management
– volume: 33
  start-page: 3
  year: 1993
  end-page: 56
  ident: b0115
  article-title: Common risk factors in the returns on stocks and bonds
  publication-title: Journal of Financial Economics
– reference: Anderson, T. W. (1958).
– volume: 9
  start-page: 1493
  year: 1997
  end-page: 1516
  ident: b0155
  article-title: Dimension reduction by local principal component analysis
  publication-title: Neural Computation
– volume: 510
  start-page: 587
  year: 2018
  end-page: 609
  ident: b0235
  article-title: Bitcoin technical trading with artificial neural network
  publication-title: Physica A: Statistical Mechanics and its Applications
– volume: 2
  year: 2015
  ident: b0005
  article-title: Variational autoencoder based anomaly detection using reconstruction probability
  publication-title: Special Lecture on IE
– reference: .
– reference: (pp. 665–674). ACM.
– volume: 18
  start-page: 851
  year: 2007
  end-page: 864
  ident: b0165
  article-title: A hybrid neurogenetic approach for stock forecasting
  publication-title: IEEE Transactions on Neural Networks
– volume: 56
  start-page: 815
  year: 2001
  end-page: 849
  ident: b0190
  article-title: Consumption, aggregate wealth, and expected stock returns
  publication-title: The Journal of Finance
– volume: 35
  start-page: 40
  year: 2008
  end-page: 51
  ident: b0080
  article-title: Toward maximum diversification
  publication-title: The Journal of Portfolio Management
– reference: Gewers, F. L., Ferreira, G. R., de Arruda, H. F., Silva, F. N., Comin, C. H., Amancio, D. R., & Costa, L. D. F. (2018).
– volume: 105
  start-page: 457
  year: 2012
  end-page: 472
  ident: b0120
  article-title: Size, value, and momentum in international stock returns
  publication-title: Journal of Financial Economics
– volume: 38
  start-page: 34
  issue: 1
  year: 1965
  ident: 10.1016/j.eswa.2020.113730_b0110
  article-title: The behavior of stock-market prices
  publication-title: The Journal of Business
  doi: 10.1086/294743
– volume: Vol. 11
  year: 2004
  ident: 10.1016/j.eswa.2020.113730_b0295
– volume: 83
  start-page: 187
  year: 2017
  ident: 10.1016/j.eswa.2020.113730_b0070
  article-title: Deep learning networks for stock market analysis and prediction: Methodology, data representations, and case studies
  publication-title: Expert Systems with Applications
  doi: 10.1016/j.eswa.2017.04.030
– volume: 510
  start-page: 587
  year: 2018
  ident: 10.1016/j.eswa.2020.113730_b0235
  article-title: Bitcoin technical trading with artificial neural network
  publication-title: Physica A: Statistical Mechanics and its Applications
  doi: 10.1016/j.physa.2018.07.017
– volume: 73
  start-page: 187
  year: 2017
  ident: 10.1016/j.eswa.2020.113730_b0220
  article-title: Generalized exponential moving average (EMA) model with particle filtering and anomaly detection
  publication-title: Expert Systems with Applications
  doi: 10.1016/j.eswa.2016.12.034
– volume: 42
  start-page: 7046
  issue: 20
  year: 2015
  ident: 10.1016/j.eswa.2020.113730_b0020
  article-title: Evaluating multiple classifiers for stock price direction prediction
  publication-title: Expert Systems with Applications
  doi: 10.1016/j.eswa.2015.05.013
– volume: 105
  start-page: 457
  issue: 3
  year: 2012
  ident: 10.1016/j.eswa.2020.113730_b0120
  article-title: Size, value, and momentum in international stock returns
  publication-title: Journal of Financial Economics
  doi: 10.1016/j.jfineco.2012.05.011
– volume: 105590
  year: 2019
  ident: 10.1016/j.eswa.2020.113730_b0240
  article-title: State space approach to adaptive fuzzy modeling for financial investment
  publication-title: Applied Soft Computing
– volume: 81
  start-page: 637
  issue: 3
  year: 1973
  ident: 10.1016/j.eswa.2020.113730_b0040
  article-title: The pricing of options and corporate liabilities
  publication-title: Journal of Political Economy
  doi: 10.1086/260062
– year: 2018
  ident: 10.1016/j.eswa.2020.113730_b0280
– volume: 35
  start-page: 40
  issue: 1
  year: 2008
  ident: 10.1016/j.eswa.2020.113730_b0080
  article-title: Toward maximum diversification
  publication-title: The Journal of Portfolio Management
  doi: 10.3905/JPM.2008.35.1.40
– ident: 10.1016/j.eswa.2020.113730_b0125
– volume: 313
  start-page: 504
  issue: 5786
  year: 2006
  ident: 10.1016/j.eswa.2020.113730_b0135
  article-title: Reducing the dimensionality of data with neural networks
  publication-title: Science
  doi: 10.1126/science.1127647
– volume: 96
  start-page: 116
  issue: 1
  year: 1988
  ident: 10.1016/j.eswa.2020.113730_b0045
  article-title: A capital asset pricing model with time-varying covariances
  publication-title: Journal of Political Economy
  doi: 10.1086/261527
– volume: 510
  start-page: 400
  year: 2018
  ident: 10.1016/j.eswa.2020.113730_b0030
  article-title: Scaling properties of extreme price fluctuations in Bitcoin markets
  publication-title: Physica A: Statistical Mechanics and its Applications
  doi: 10.1016/j.physa.2018.06.131
– volume: 45
  start-page: 213
  issue: 1–2
  year: 1990
  ident: 10.1016/j.eswa.2020.113730_b0105
  article-title: Asset pricing with a factor-ARCH covariance structure: Empirical estimates for treasury bills
  publication-title: Journal of Econometrics
  doi: 10.1016/0304-4076(90)90099-F
– volume: 21
  start-page: 111
  issue: 3
  year: 2012
  ident: 10.1016/j.eswa.2020.113730_b0200
  article-title: Diversified risk parity strategies for equity portfolio selection
  publication-title: The Journal of Investing
  doi: 10.3905/joi.2012.21.3.111
– volume: 13
  start-page: 1559
  issue: 10
  year: 2013
  ident: 10.1016/j.eswa.2020.113730_b0305
  article-title: Generating a target payoff distribution with the cheapest dynamic portfolio: An application to hedge fund replication
  publication-title: Quantitative Finance
  doi: 10.1080/14697688.2013.779014
– volume: 184
  start-page: 232
  year: 2016
  ident: 10.1016/j.eswa.2020.113730_b0320
  article-title: Auto-encoder based dimensionality reduction
  publication-title: Neurocomputing
  doi: 10.1016/j.neucom.2015.08.104
– volume: 21
  start-page: 1455
  issue: 4
  year: 2007
  ident: 10.1016/j.eswa.2020.113730_b0325
  article-title: A comprehensive look at the empirical performance of equity premium prediction
  publication-title: The Review of Financial Studies
  doi: 10.1093/rfs/hhm014
– ident: 10.1016/j.eswa.2020.113730_b0290
  doi: 10.1145/2689746.2689747
– year: 2015
  ident: 10.1016/j.eswa.2020.113730_b0055
– volume: 20
  start-page: 666
  issue: 4
  year: 2012
  ident: 10.1016/j.eswa.2020.113730_b0250
  article-title: Constrained fuzzy hierarchical analysis for portfolio selection under higher moments
  publication-title: IEEE Transactions on Fuzzy Systems
  doi: 10.1109/TFUZZ.2011.2181520
– volume: 47
  start-page: 271
  issue: 1
  year: 1992
  ident: 10.1016/j.eswa.2020.113730_b0050
  article-title: Option replication in discrete time with transaction costs
  publication-title: The Journal of Finance
  doi: 10.1111/j.1540-6261.1992.tb03986.x
– volume: 56
  start-page: 815
  issue: 3
  year: 2001
  ident: 10.1016/j.eswa.2020.113730_b0190
  article-title: Consumption, aggregate wealth, and expected stock returns
  publication-title: The Journal of Finance
  doi: 10.1111/0022-1082.00347
– volume: 7
  start-page: 77
  issue: 1
  year: 1952
  ident: 10.1016/j.eswa.2020.113730_b0210
  article-title: Portfolio selection
  publication-title: The Journal of Finance
– volume: 36
  start-page: 60
  issue: 4
  year: 2010
  ident: 10.1016/j.eswa.2020.113730_b0205
  article-title: The properties of equally weighted risk contribution portfolios
  publication-title: The Journal of Portfolio Management
  doi: 10.3905/jpm.2010.36.4.060
– start-page: 117
  year: 2013
  ident: 10.1016/j.eswa.2020.113730_b0300
  article-title: Auto-encoder based data clustering
– volume: 40
  start-page: 1283
  issue: 5
  year: 1985
  ident: 10.1016/j.eswa.2020.113730_b0175
  article-title: Option pricing and replication with transactions costs
  publication-title: The Journal of Finance
  doi: 10.1111/j.1540-6261.1985.tb02383.x
– volume: 101382
  year: 2019
  ident: 10.1016/j.eswa.2020.113730_b0185
  article-title: Efficiency in the markets of crypto-currencies
  publication-title: Finance Research Letters
– start-page: 478
  year: 2016
  ident: 10.1016/j.eswa.2020.113730_b0330
  article-title: Unsupervised deep embedding for clustering analysis
– volume: 81
  start-page: 53
  year: 2017
  ident: 10.1016/j.eswa.2020.113730_b0225
  article-title: Creating investment scheme with state space modeling
  publication-title: Expert Systems with Applications
  doi: 10.1016/j.eswa.2017.03.045
– volume: 165
  start-page: 148
  issue: 1
  year: 2011
  ident: 10.1016/j.eswa.2020.113730_b0260
  article-title: Metabolomic profiling of serum from human pancreatic cancer patients using 1 H NMR spectroscopy and principal component analysis
  publication-title: Applied Biochemistry and Biotechnology
  doi: 10.1007/s12010-011-9240-0
– volume: 42
  start-page: 3234
  issue: 6
  year: 2015
  ident: 10.1016/j.eswa.2020.113730_b0275
  article-title: Recurrent neural network and a hybrid model for prediction of stock returns
  publication-title: Expert Systems with Applications
  doi: 10.1016/j.eswa.2014.12.003
– volume: 2
  issue: 1
  year: 2015
  ident: 10.1016/j.eswa.2020.113730_b0005
  article-title: Variational autoencoder based anomaly detection using reconstruction probability
  publication-title: Special Lecture on IE
– volume: 12
  issue: 7
  year: 2017
  ident: 10.1016/j.eswa.2020.113730_b0025
  article-title: A deep learning framework for financial time series using stacked autoencoders and long-short term memory
  publication-title: PloS One
  doi: 10.1371/journal.pone.0180944
– volume: 8
  start-page: 308
  issue: 5
  year: 2007
  ident: 10.1016/j.eswa.2020.113730_b0255
  article-title: Comparing Sharpe ratios: So where are the p-values?
  publication-title: Journal of Asset Management
  doi: 10.1057/palgrave.jam.2250084
– volume: 21
  start-page: 1509
  issue: 4
  year: 2007
  ident: 10.1016/j.eswa.2020.113730_b0065
  article-title: Predicting excess stock returns out of sample: Can anything beat the historical average?
  publication-title: The Review of Financial Studies
  doi: 10.1093/rfs/hhm055
– year: 2019
  ident: 10.1016/j.eswa.2020.113730_b0015
  article-title: Intraday efficiency-frequency nexus in the cryptocurrency markets
  publication-title: Finance Research Letters
– ident: 10.1016/j.eswa.2020.113730_b0195
  doi: 10.21314/JOR.2014.284
– volume: 2
  start-page: 303
  issue: 4
  year: 1989
  ident: 10.1016/j.eswa.2020.113730_b0090
  article-title: Approximation by superpositions of a sigmoidal function
  publication-title: Mathematics of Control, Signals and Systems
  doi: 10.1007/BF02551274
– volume: 118
  start-page: 70
  year: 2006
  ident: 10.1016/j.eswa.2020.113730_b0335
  article-title: Optimal hedging of options with transaction costs
  publication-title: Wilmott Magazine
– volume: 29
  start-page: 141
  year: 2019
  ident: 10.1016/j.eswa.2020.113730_b0180
  article-title: A simple but powerful measure of market efficiency
  publication-title: Finance Research Letters
  doi: 10.1016/j.frl.2019.03.004
– volume: 207
  start-page: 1702
  issue: 3
  year: 2010
  ident: 10.1016/j.eswa.2020.113730_b0140
  article-title: Pairs trading and outranking: The multi-step-ahead forecasting case
  publication-title: European Journal of Operational Research
  doi: 10.1016/j.ejor.2010.06.043
– volume: 33
  start-page: 3
  issue: 1
  year: 1993
  ident: 10.1016/j.eswa.2020.113730_b0115
  article-title: Common risk factors in the returns on stocks and bonds
  publication-title: Journal of Financial Economics
  doi: 10.1016/0304-405X(93)90023-5
– volume: 7
  start-page: 1
  issue: 3
  year: 2004
  ident: 10.1016/j.eswa.2020.113730_b0270
  article-title: Principal portfolios: Recasting the efficient frontier
  publication-title: Economics Bulletin
– ident: 10.1016/j.eswa.2020.113730_b0010
– volume: 305
  start-page: 719
  year: 1996
  ident: 10.1016/j.eswa.2020.113730_b0100
  article-title: General statistics and principal component analysis of multiwavelength properties of Seyfert galaxies
  publication-title: Astronomy and Astrophysics
– volume: 1
  start-page: 327
  issue: 4
  year: 2003
  ident: 10.1016/j.eswa.2020.113730_b0170
  article-title: PCA of the yield curve dynamics: Questions of methodologies
  publication-title: Journal of Bond Trading and Management
– volume: 40
  start-page: 7596
  issue: 18
  year: 2013
  ident: 10.1016/j.eswa.2020.113730_b0095
  article-title: Applying Artificial Neural Networks to prediction of stock price and improvement of the directional prediction index? Case study of PETR4, Petrobras, Brazil
  publication-title: Expert Systems with Applications
  doi: 10.1016/j.eswa.2013.06.071
– volume: 9
  start-page: 1493
  issue: 7
  year: 1997
  ident: 10.1016/j.eswa.2020.113730_b0155
  article-title: Dimension reduction by local principal component analysis
  publication-title: Neural Computation
  doi: 10.1162/neco.1997.9.7.1493
– ident: 10.1016/j.eswa.2020.113730_b0085
  doi: 10.2139/ssrn.720801
– volume: 3
  start-page: 11
  issue: 3
  year: 1994
  ident: 10.1016/j.eswa.2020.113730_b0285
  article-title: Post-modern portfolio theory comes of age
  publication-title: Journal of Investing
  doi: 10.3905/joi.3.3.11
– ident: 10.1016/j.eswa.2020.113730_b0160
– volume: 19
  start-page: 758
  issue: 4
  year: 2011
  ident: 10.1016/j.eswa.2020.113730_b0315
  article-title: Fuzzy-portfolio-selection models with value-at-risk
  publication-title: IEEE Transactions on Fuzzy Systems
  doi: 10.1109/TFUZZ.2011.2144599
– volume: 33
  start-page: 497
  issue: 6
  year: 2005
  ident: 10.1016/j.eswa.2020.113730_b0265
  article-title: A hybrid ARIMA and support vector machines model in stock price forecasting
  publication-title: Omega
  doi: 10.1016/j.omega.2004.07.024
– volume: 1993
  start-page: 2
  issue: 19
  year: 1993
  ident: 10.1016/j.eswa.2020.113730_b0075
  article-title: The effect of errors in means, variances, and covariances on optimal portfolio choice
  publication-title: Journal of Portfolio Management, Winter
– volume: 16
  start-page: 365
  issue: 6
  year: 2015
  ident: 10.1016/j.eswa.2020.113730_b0060
  article-title: Virtual currency, tangible return: Portfolio diversification with bitcoin
  publication-title: Journal of Asset Management
  doi: 10.1057/jam.2015.5
– volume: 22
  start-page: 74
  issue: 5
  year: 2009
  ident: 10.1016/j.eswa.2020.113730_b0215
  article-title: Managing diversification
  publication-title: Risk
– volume: 18
  start-page: 851
  issue: 3
  year: 2007
  ident: 10.1016/j.eswa.2020.113730_b0165
  article-title: A hybrid neurogenetic approach for stock forecasting
  publication-title: IEEE Transactions on Neural Networks
  doi: 10.1109/TNN.2007.891629
– volume: 69
  start-page: 611
  issue: 2
  year: 2014
  ident: 10.1016/j.eswa.2020.113730_b0150
  article-title: Sequential learning, predictability, and optimal portfolio returns
  publication-title: The Journal of Finance
  doi: 10.1111/jofi.12121
– year: 2017
  ident: 10.1016/j.eswa.2020.113730_b0230
  article-title: Fuzzy logic-based portfolio selection with particle filtering and anomaly detection
  publication-title: Knowledge-Based Systems
  doi: 10.1016/j.knosys.2017.06.006
– volume: 18
  start-page: 1527
  issue: 7
  year: 2006
  ident: 10.1016/j.eswa.2020.113730_b0130
  article-title: A fast learning algorithm for deep belief nets
  publication-title: Neural Computation
  doi: 10.1162/neco.2006.18.7.1527
– ident: 10.1016/j.eswa.2020.113730_b0340
  doi: 10.1145/3097983.3098052
– volume: 29
  start-page: 1
  year: 2009
  ident: 10.1016/j.eswa.2020.113730_b0310
  article-title: Efficient static replication of European options under exponential Levy models
  publication-title: Journal of Futures Markets
  doi: 10.1002/fut.20339
– volume: 11
  start-page: 42
  issue: 3
  year: 2013
  ident: 10.1016/j.eswa.2020.113730_b0145
  article-title: Demystifying managed futures
  publication-title: Journal of Investment Management
– volume: 48
  start-page: 28
  issue: 5
  year: 1992
  ident: 10.1016/j.eswa.2020.113730_b0035
  article-title: Global portfolio optimization
  publication-title: Financial Analysts Journal
  doi: 10.2469/faj.v48.n5.28
– volume: 25
  start-page: 47
  issue: 1
  year: 2018
  ident: 10.1016/j.eswa.2020.113730_b0245
  article-title: On the effect of Bank of Japan’s outright purchase on the JGB yield curve
  publication-title: Asia-Pacific Financial Markets
  doi: 10.1007/s10690-018-9238-5
SSID ssj0017007
Score 2.406084
Snippet •We propose a new investment strategy free from the estimation of expected returns.•AutoEncoder extracts the factors which enable to prevent the large...
This paper proposes a novel approach to the portfolio management using an AutoEncoder. In particular, features learned by an AutoEncoder with ReLU are directly...
SourceID proquest
crossref
elsevier
SourceType Aggregation Database
Enrichment Source
Index Database
Publisher
StartPage 113730
SubjectTerms Artificial neural network
AutoEncoder
Crypto currency
Delta hedging
Digital currencies
Linear transformations
Portfolio management
Title A new investment method with AutoEncoder: Applications to crypto currencies
URI https://dx.doi.org/10.1016/j.eswa.2020.113730
https://www.proquest.com/docview/2465475508
Volume 162
WOSCitedRecordID wos000582113700014&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D
hasFullText 1
inHoldings 1
isFullTextHit
isPrint
journalDatabaseRights – providerCode: PRVESC
  databaseName: Elsevier SD Freedom Collection Journals 2021
  customDbUrl:
  eissn: 1873-6793
  dateEnd: 99991231
  omitProxy: false
  ssIdentifier: ssj0017007
  issn: 0957-4174
  databaseCode: AIEXJ
  dateStart: 19950101
  isFulltext: true
  titleUrlDefault: https://www.sciencedirect.com
  providerName: Elsevier
link http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwtV1Lj9MwELbKLgcuvBELC_KBWxXUOE3tcItQEbCw4rCg3izbsUXaJa3adFn-PeNXGop2xR64pFUUj6zMZDKZx_ch9IowIQ3LbSvOpErGpKqSopAysSU0I1WaTRzz3LdP9PSUzWbFl8HgJM7CXJzTpmGXl8Xqv6oazoGy7ejsDdTdCYUT8B-UDkdQOxz_SfGlZQkf1g4_w1X6PUm0z7iW23Y5bewcu6OHLHvlaxuFqvWvlf1xoE0q9hfOu3Y9vW4D9nOciusJ6PLKYiEcoffws9gIs_1R79IDCztB5niEh-Wi_l4vlv20A3EtHKGCEvOHNBmnnmKnc6XBs3pnmKYZ9Uv-8tM-ZTB_rTc_LfgTcdwy4eI_QbH3XlZdC2HsTptzK4NbGdzLuIUOCc0LcHGH5Yfp7GNXVKIjPz0fdx5mqHy73_5OropT9t7YLgw5u4_uhu8HXHq9P0AD3TxE9yI3Bw6u-hE6KTGYAd6ZAfZmgK3acM8M3uC-EeB2ib0R4J0RPEZf303P3r5PAnFGojJK2oSMpWRZpkQ1Aneri0oITbRKBUTHUo6FVKNcSGGHiI20cEKKMA2u3Cgmc0PS7Ak6aJaNfopwIXVmJpoqRiDW1EoacPKGVQ55TEzIEUrjbeIqoMpbcpNzfrWCjtCwW7PymCrXXp3Hu89DVOijPQ7GdO2646gqHh7PDScWPpDCVzl7dqNNPEd3dg_BMTpo11v9At1WF229Wb8MhvYbP7yO0A
linkProvider Elsevier
openUrl ctx_ver=Z39.88-2004&ctx_enc=info%3Aofi%2Fenc%3AUTF-8&rfr_id=info%3Asid%2Fsummon.serialssolutions.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=A+new+investment+method+with+AutoEncoder%3A+Applications+to+crypto+currencies&rft.jtitle=Expert+systems+with+applications&rft.au=Nakano%2C+Masafumi&rft.au=Takahashi%2C+Akihiko&rft.date=2020-12-30&rft.issn=0957-4174&rft.volume=162&rft.spage=113730&rft_id=info:doi/10.1016%2Fj.eswa.2020.113730&rft.externalDBID=n%2Fa&rft.externalDocID=10_1016_j_eswa_2020_113730
thumbnail_l http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/lc.gif&issn=0957-4174&client=summon
thumbnail_m http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/mc.gif&issn=0957-4174&client=summon
thumbnail_s http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/sc.gif&issn=0957-4174&client=summon