New backtests for improved expectile risk forecasts evaluation
Peer-Reviewed Publication
Updates every hour. Last Updated: 14-Jun-2026 06:16 ET (14-Jun-2026 10:16 GMT/UTC)
Expectiles are a coherent and elicitable alternative to commonly used market risk measures, but practical backtesting tools have lagged behind. This study proposes new backtests that separate unconditional coverage from independence in expectile forecasts. By connecting a Wald-testing framework to Box–Pierce-style autocorrelation testing under a location-scale setting, the authors develop tests with improved finite-sample behavior in simulations and demonstrate their use on S&P 500 return data.
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Music is commonly used during exercise and is often assumed to improve focus, mood, or mental performance. A new systematic review and meta-analysis led by researchers at the Centre of Excellence in Music, Mind, Body and Brain at the University of Jyväskylä examined whether these assumptions are supported by experimental evidence.
Daily aspirin use does not offer a quick or reliable way to prevent bowel cancer in the general population and carries immediate risks of serious bleeding, a new Cochrane review finds.
Gold nanoparticles with surface functionalization are vital to improve their stability, bio-compatibility to engineer them to be suitable candidates in advanced bio-medical technologies, including drug delivery systems, biosensors, bioimaging, photothermal cancer therapy etc. They are also being exploited in catalysis and energy applications. Their performance in these applications depends strongly on how their surfaces interact with the surrounding medium, particularly the interfacial water, at the nanoscale. Therefore, understanding the thermodynamics and intermolecular structure of the interfacial water is crucial in the design process.