Random walk theory is a financial model which assumes that the stock market moves in a completely unpredictable way. The hypothesis suggests that the future price of each stock is independent of its ...

Random Matrix Theory (RMT) has emerged as a potent framework to characterise the statistical properties of eigenvalues in large complex systems, bridging disciplines from quantum physics to number ...

Harry Markowitz famously quipped that diversification is the only free lunch in investing. What he did not say is that this is only true if correlations are known and stable over time. Markowitz’s ...

Scientists are exploring a mysterious pattern, found in birds’ eyes, boxes of marbles and other surprising places, that is neither regular nor random. All complex correlated systems, from Arctic melt ...