Robo-Advisor Algorithm with Intelligent View Model (지능형 전망모형을 결합한 로보어드바이저 알고리즘)
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- Journal of Intelligence and Information Systems
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- v.25 no.2
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- pp.39-55
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- 2019
Recently banks and large financial institutions have introduced lots of Robo-Advisor products. Robo-Advisor is a Robot to produce the optimal asset allocation portfolio for investors by using the financial engineering algorithms without any human intervention. Since the first introduction in Wall Street in 2008, the market size has grown to 60 billion dollars and is expected to expand to 2,000 billion dollars by 2020. Since Robo-Advisor algorithms suggest asset allocation output to investors, mathematical or statistical asset allocation strategies are applied. Mean variance optimization model developed by Markowitz is the typical asset allocation model. The model is a simple but quite intuitive portfolio strategy. For example, assets are allocated in order to minimize the risk on the portfolio while maximizing the expected return on the portfolio using optimization techniques. Despite its theoretical background, both academics and practitioners find that the standard mean variance optimization portfolio is very sensitive to the expected returns calculated by past price data. Corner solutions are often found to be allocated only to a few assets. The Black-Litterman Optimization model overcomes these problems by choosing a neutral Capital Asset Pricing Model equilibrium point. Implied equilibrium returns of each asset are derived from equilibrium market portfolio through reverse optimization. The Black-Litterman model uses a Bayesian approach to combine the subjective views on the price forecast of one or more assets with implied equilibrium returns, resulting a new estimates of risk and expected returns. These new estimates can produce optimal portfolio by the well-known Markowitz mean-variance optimization algorithm. If the investor does not have any views on his asset classes, the Black-Litterman optimization model produce the same portfolio as the market portfolio. What if the subjective views are incorrect? A survey on reports of stocks performance recommended by securities analysts show very poor results. Therefore the incorrect views combined with implied equilibrium returns may produce very poor portfolio output to the Black-Litterman model users. This paper suggests an objective investor views model based on Support Vector Machines(SVM), which have showed good performance results in stock price forecasting. SVM is a discriminative classifier defined by a separating hyper plane. The linear, radial basis and polynomial kernel functions are used to learn the hyper planes. Input variables for the SVM are returns, standard deviations, Stochastics %K and price parity degree for each asset class. SVM output returns expected stock price movements and their probabilities, which are used as input variables in the intelligent views model. The stock price movements are categorized by three phases; down, neutral and up. The expected stock returns make P matrix and their probability results are used in Q matrix. Implied equilibrium returns vector is combined with the intelligent views matrix, resulting the Black-Litterman optimal portfolio. For comparisons, Markowitz mean-variance optimization model and risk parity model are used. The value weighted market portfolio and equal weighted market portfolio are used as benchmark indexes. We collect the 8 KOSPI 200 sector indexes from January 2008 to December 2018 including 132 monthly index values. Training period is from 2008 to 2015 and testing period is from 2016 to 2018. Our suggested intelligent view model combined with implied equilibrium returns produced the optimal Black-Litterman portfolio. The out of sample period portfolio showed better performance compared with the well-known Markowitz mean-variance optimization portfolio, risk parity portfolio and market portfolio. The total return from 3 year-period Black-Litterman portfolio records 6.4%, which is the highest value. The maximum draw down is -20.8%, which is also the lowest value. Sharpe Ratio shows the highest value, 0.17. It measures the return to risk ratio. Overall, our suggested view model shows the possibility of replacing subjective analysts's views with objective view model for practitioners to apply the Robo-Advisor asset allocation algorithms in the real trading fields.
Purpose : Intensity-modulated radiation therapy(IMRT) has been widely used for radiation therapy of Prostate Cancer because it can reduce radiation adverse effects on normal tissues and deliver more dose to the Prostate than 3D radiation therapy. Volumetric modulated arc therapy(VMAT) has been widely used due to recent advances in equipment and treatment techniques. VMAT can reduce treatment time by up to 55 % compared to IMRT, minimizing motion error during treatment. Materials and Methods : In this study, compared the MU and DVH values of 10 patients with prostate cancer by classifying them into 4 groups with 5 LN-Prostate groups and 5 Only-Prostate. And DQA measurements were performed using ArcCHECK and MapCHECK. Results : The results of Target and OAR dose distribution of Prostate patients are as follows.
This essay reflects on the modernity of Korea by examining the transformation of the traditional knowledge system from a historico-semantic perspective with its focus on the opposition and collision of the old and the new conception occurred in the early period(1890~1910) of the acceptance of the Western modern civilization. With scientific success, trick of reason, Christianity and evolutionary view of history, the Western modernity regarded itself as a peak of civilization and forced the non-Western societies into the world system in which they came to be considered as 'barbarism(野蠻)' or 'half-enlightened(半開).' The East Asian civilization, which had its own history for several centuries, became degraded as kind of delusion and old-fashioned customs from which it ought to free itself. The Western civilization presented itself as exemplary future which East Asian people should achieve, while East Asian past traditions came to be conceived as just unnecessary vestiges which it was better to wipe out. It can be said that East Asian modernization was established through the propagation and acceptance of the modern products of the Western civilization rather than through the preservation of its past experience and pursuit of the new at the same time. Accordingly, it is difficult to apply directly to East Asian societies Koselleck's hypothesis; while mapping out his Basic Concept of History, he assumed that, in the so-called 'age of saddle,' semantic struggle over concepts becomes active between the past experience and the horizon of expectation on the future, and concepts undergoes 'temporalization', 'democratization', 'ideologization', 'politicization.'The struggle over the old and new conceptions in Korea was most noticeable in the opposition of the Neo-Confucian scholars of Hwangseongsinmun and the theorists of civilization of Doknipsinmun. The opposition and struggle demanded the change of understanding in every field, but there was difference of opinion over the conception of the past traditional knowledge system. For the theorists of civilization, 'the old(舊)' was not just 'past' and 'old-fashioned' things, but rather an obstacle to the building of new civilization. On the other hand, it contained the possibility of regeneration(新) for the Neo-Confucian scholars; that is, they suggested finding a guide into tomorrow by taking lessons from the past. The traditional knowledge system lost their holy status of learning(聖學) in the process of its change into a 'new learning(新學),' and religion and religious tradition also weakened. The traditional knowledge system could change itself into modern learning by accepting scientific methodology which pursues objectivity and rationality. This transformation of the traditional knowledge system and 'the formation of the new learning from the old learning' was accompanied by the intersection between the old and new conceptions. It is necessary to pay attention to the role played by the concept of Sil(hak)(實學) or Practical Learning in the intersection of the old and new conceptions. Various modern media published before and after the 20th century show clearly the multi-layered development of the old and new conceptions, and it is noticeable that 'Sil(hak)' as conceptual frame of reference contributed to the transformation of the traditional knowledge system into the new learning. Although Silhak often designated, or was even considered equivalent to, the Western learning, Neo-Confucian scholars reinterpreted the concept of 'Silhak' which the theorists of civilization had monopolized until then, and opened the way to change the traditional knowledge system into the new learning. They re-appropriated the concept of Silhak, and enabled it to be invested with values, which were losing their own status due to the overwhelming scientific technology. With Japanese occupation of Korea by force, the attempt to transform the traditional knowledge system independently was obliged to reach its own limit, but its theory of 'making new learning from old one' can be considered to get over both the contradiction of Dondoseogi(東道西器: principle of preserving Eastern philosophy while accepting Western technology) and the de-subjectivity of the theory of civilization. While developing its own logic, the theory of Dongdoseogi was compelled to bring in the contradiction of considering the indivisible(道and 器) as divisible, though it tried to cope with the reality where the principle of morality and that of competition were opposed each other and the ideologies of 'evolution' and 'progress' prevailed. On the other hand, the theory of civilization was not free from the criticism that it brought about a crack in subjectivity due to its internalization of the West, cutting itself off from the traditional knowledge system.
Aspect Based Sentiment Analysis (ABSA), which analyzes sentiment based on aspects that appear in the text, is drawing attention because it can be used in various business industries. ABSA is a study that analyzes sentiment by aspects for multiple aspects that a text has. It is being studied in various forms depending on the purpose, such as analyzing all targets or just aspects and sentiments. Here, the aspect refers to the property of a target, and the target refers to the text that causes the sentiment. For example, for restaurant reviews, you could set the aspect into food taste, food price, quality of service, mood of the restaurant, etc. Also, if there is a review that says, "The pasta was delicious, but the salad was not," the words "steak" and "salad," which are directly mentioned in the sentence, become the "target." So far, in ABSA, most studies have analyzed sentiment only based on aspects or targets. However, even with the same aspects or targets, sentiment analysis may be inaccurate. Instances would be when aspects or sentiment are divided or when sentiment exists without a target. For example, sentences like, "Pizza and the salad were good, but the steak was disappointing." Although the aspect of this sentence is limited to "food," conflicting sentiments coexist. In addition, in the case of sentences such as "Shrimp was delicious, but the price was extravagant," although the target here is "shrimp," there are opposite sentiments coexisting that are dependent on the aspect. Finally, in sentences like "The food arrived too late and is cold now." there is no target (NULL), but it transmits a negative sentiment toward the aspect "service." Like this, failure to consider both aspects and targets - when sentiment or aspect is divided or when sentiment exists without a target - creates a dual dependency problem. To address this problem, this research analyzes sentiment by considering both aspects and targets (Target-Aspect-Sentiment Detection, hereby TASD). This study detected the limitations of existing research in the field of TASD: local contexts are not fully captured, and the number of epochs and batch size dramatically lowers the F1-score. The current model excels in spotting overall context and relations between each word. However, it struggles with phrases in the local context and is relatively slow when learning. Therefore, this study tries to improve the model's performance. To achieve the objective of this research, we additionally used auxiliary loss in aspect-sentiment classification by constructing CNN(Convolutional Neural Network) layers parallel to existing models. If existing models have analyzed aspect-sentiment through BERT encoding, Pooler, and Linear layers, this research added CNN layer-adaptive average pooling to existing models, and learning was progressed by adding additional loss values for aspect-sentiment to existing loss. In other words, when learning, the auxiliary loss, computed through CNN layers, allowed the local context to be captured more fitted. After learning, the model is designed to do aspect-sentiment analysis through the existing method. To evaluate the performance of this model, two datasets, SemEval-2015 task 12 and SemEval-2016 task 5, were used and the f1-score increased compared to the existing models. When the batch was 8 and epoch was 5, the difference was largest between the F1-score of existing models and this study with 29 and 45, respectively. Even when batch and epoch were adjusted, the F1-scores were higher than the existing models. It can be said that even when the batch and epoch numbers were small, they can be learned effectively compared to the existing models. Therefore, it can be useful in situations where resources are limited. Through this study, aspect-based sentiments can be more accurately analyzed. Through various uses in business, such as development or establishing marketing strategies, both consumers and sellers will be able to make efficient decisions. In addition, it is believed that the model can be fully learned and utilized by small businesses, those that do not have much data, given that they use a pre-training model and recorded a relatively high F1-score even with limited resources.
Purpose: The purpose of this study is to evaluate the ovarian dose during radiation therapy for breast cancer in women of childbearing age through an experiment. The ovarian dose is evaluated by comparing and analyzing between the calculated dose in the treatment planning system according to the treatment technique and the measured dose using a thermoluminescence dosimeter (TLD). The clinical usefulness of lead (Pb) apron is investigated through dose analysis according to whether or not it is used. Materials and Methods: Rando humanoid phantom was used for measurement, and wedge filter radiation therapy, 3D conformal radiation therapy, and intensity modulated radiation therapy were used as treatment techniques. A treatment plan was established so that 95% of the prescribed dose could be delivered to the right breast of the Rando humanoid phantom 3D image obtained using the CT simulator. TLD was inserted into the surface and depth of the virtual ovary of the Rando hunmanoid phantom and irradiated with radiation. The measurement location was the center of treatment and the point moved 2 cm to the opposite breast from the center of the Rando hunmanoid phantom, 5cm, 10cm, 12.5cm, 15cm, 17.5cm, 20cm from the boundary of the right breast to the center of treatment and downward, and the surface and depth of the right ovary. Measurements were made at a total of 9 central points. In the dose comparison of treatment planning systems, two wedge filter treatment techniques, three-dimensional conformal radiotherapy, and intensity-modulated radiation therapy were established and compared. Treatments were compared, and dose measurements according to the use of lead apron were compared and analyzed in intensity-modulated radiation therapy. The measured value was calculated by averaging three TLD values for each point and converting using the TLD calibration value, which was calculated as the point dose mean value. In order to compare the treatment plan value with the actual measured value, the absolute dose value was measured and compared at each point (%Diff). Results: At Point A, the center of treatment, a maximum of 201.7cGy was obtained in the treatment planning system, and a maximum of 200.6cGy was obtained in the TLD. In all treatment planning systems, 0cGy was calculated from Point G, which is a point 17.5cm downward from the breast interface. As a result of TLD, a maximum of 2.6cGy was obtained at Point G, and a maximum of 0.9cGy was obtained at Point J, which is the ovarian dose, and the absolute dose was 0.3%~1.3%. The difference in dose according to the use of lead aprons was from a maximum of 2.1cGy to a minimum of 0.1cGy, and the %Diff value was 0.1%~1.1%. Conclusion: In the treatment planning system, the difference in dose according to the three treatment plans did not show a significant difference from 0.85% to 2.45%. In the ovary, the difference between the Rando humanoid phantom's treatment planning system and the actual measured dose was within 0.9%, and the actual measured dose was slightly higher. This did not accurately reflect the effect of scattered radiation in the treatment planning system, and it is thought that the dose of scattered radiation and the dose taken by CBCT with TLD inserted were reflected in the actual measurement. In dosimetry according to the with or without a lead apron, when a lead apron was used, the closer the distance from the treatment range, the more effective the shielding was. Although it is not clinically appropriate for pregnancy or artificial insemination during radiotherapy, the dose irradiated to the ovaries during treatment is not expected to significantly affect the reproductive function of women of childbearing age after radiotherapy. However, since women of childbearing age have constant anxiety, it is thought that psychological stability can be promoted by presenting the data from this study.
Two field experiments were carried out to assess the applicability of a central composite design (CCD) in determining optimum culture condition of an early rice cultivar, Unbongbyeo in southern Korea. A central composite design with two replicates was applied to five levels of five factors such as the number of hills per 3.3m2, the number of seedlings per hill, the levels of nitrogen, the transplanting date and the seedling age (Experiment 1). The levels of planting density were ranged from 30 hills to 150 hills per 3.3m2 ; the number of seedlings per hill from 1 seedling to 9 seedlings per hill; the levels of nitrogen application from 1 kg/l0a to 21 kg/l0a; the transplanting date from June 15 to July 5; the seedling age from 25 days to 45 days. A fractional factorial design was applied to three levels of five factors tested in CCD (Experiment 2). Yield per hill and per unit area were examined and the results obtained from both experiments were compared. The benefits from the central composite design were discussed. Maximum yield of brown rice per unit area was obtained at the combination of the central levels of one of five factors when the other four factors were fixed at central point. Furthermore, brown rice yield per unit area affected by interaction of two factors was maximized at the central point when the remain three factors being fixed at the central level. The responses of five factors to brown rice yield per hill and unit area were found to be a saddle point in both designs. Actual values of the stationary points were 107 hills per 3.3 m2, 4 seedlings per hill, 10 kg nitrogen per l0a, transplanting date of rice on June 26 and 33 days of seedling age in the central composite design. Brown rice yield per unit area at the stationary points were estimated 439 kg/l0a in the central composite design and 442 kg/l0a in the fractional factorial design. Considering the number of experimental treatment combinations, the central composite design was rather convenient in reducing the number of treatment combinations for similar information. It was more convenient for an experimenter to present the results from the central composite design than those from the fractional factorial design. Considering the optimum yields of brown rice per unit area at the stationary points being verified as saddle points in both designs. inter-heterogeneity of each of the factors should be avoided in setting up factors in pursuit of inducing unidirectional response of the factors to yield. Even though both the lower and higher levels in the central composite design being beyond the region of an experimenter's interest. they were considered highly valued in interpretation of the results. Conclusively. the central composite design was found to be more beneficial to optimize culture condition of paddy rice even with several levels of various factors were involved.
During the COVID-19 pandemic, the utilization rate of neighborhood parks and green spaces increased significantly, and the outbreak served as an opportunity to highlight the values and functions of neighborhood parks and green spaces for urban residents. This study aims to empirically analyze how citizens' movement and the use of neighborhood parks and green spaces changed before and after COVID-19 and examine the social and spatial characteristics that affected these changes. As a research method, first, people's mobility around neighborhood parks and green spaces before and after the COVID-19 pandemic were compared using signal data from telecommunication carriers. Through the analysis of changes in residence time and movement volume, the movement characteristics of citizens after COVID-19 and changes in walking-based park visits were examined. Second, the factors affecting the mobility change in neighborhood parks and green spaces were analyzed. The social and spatial characteristics that affect citizens' visits to neighborhood parks and green spaces before and after COVID-19 were examined through correlation and multiple regression analysis. Subsequently, through cluster analysis, the types of living areas for the post-COVID era were classified from the perspective of the supply and management of neighborhood parks and green spaces services, and directions for improving neighborhood parks and green spaces by type were presented. Major research findings are as follows: First, since the outbreak of COVID-19, activities within 500m of the residence have increased. The amount of stay and walking movement increased in both 2020 and 2021, which means that the need to review the quantitative standards and attractions of neighborhood parks and green spaces has increased considering the changed scope of the walking and living area. Second, the overall number of visits to neighborhood parks and green spaces by walking has increased since the outbreak of COVID-19. The number of visits to neighborhood parks and green spaces centered on the house and the workplace increased significantly. The park green policy in the post-COVID era should be promoted by discovering underprivileged areas, focusing on areas where residential, commercial, and business facilities are concentrated, and improving neighborhood parks and green services in quantitative and qualitative terms. Third, it was found that the higher the level of park green service, the higher the amount of walking movement. It is necessary to use indicators that contribute to improving citizens' actual park green services, such as walking accessibility, rather than looking at the criteria for securing green areas. Fourth, as a result of cluster analysis, five types of neighborhood parks and green spaces were derived in response to the post-COVID era. This suggests that it is necessary to consider the socioeconomic status and characteristics of living areas and the level of park green services required in future park green policies. This study has academic and policy significance in that it has laid the basis for establishing neighborhood parks and green spaces policy in response to the post-COVID era by using various analysis methodologies such as carrier signal data analysis, GIS analysis, and statistical analysis.
Purpose: The purpose of this study is to evaluate the effectiveness of oral positioning stent, the BinkieRTTM in radiation treatment for head and neck cancer patients in terms of tongue positions reproducibility, tongue doses and material properties. Materials and Methods: 24 cases using BinkieRTTM during radiation treatments were enrolled. The tongue was contoured on planning CT and CBCT images taken every 3 days during treatment, and then the DSC and center of tongue shift values were analyzed to evaluate the reproducibility of the tongue. The tongue dose was compared in terms of dose distribution when using BinkieRTTM and different type of oral stents (mouthpiece, paraffin wax). Randomly selected respective 10 patients were measured tongue doses of initial treatment plan for nasal cavity and unilateral parotid cancer. Finally, In terms of material evaluation, HU and relative electron density were identified in RTPS. Results: As a result of DSC analysis, it was 0.8 ± 0.07, skewness -0.8, kurtosis 0.61, and 95% CI was 0.79~0.82. To analyze the deviation of the central tongue shift during the treatment period, a 95% confidence interval for shift in the LR, SI, and AP directions were indicated, and a one-sample t-test for 0, which is an ideal value in the deviation(n=144). As a result of the t-test, the mean and SD in the LR and SI directions were 0.01 ± 0.14 cm (p→.05), 0.03 ± 0.25 cm (p→.05), and -0.08 ± 0.25 cm (p ←.05) in the AP direction. In the case of unilateral parotid cancer patients, the Dmean to the tongue of patients using BinkieRTTM was 16.92% ± 3.58% compared to the prescribed dose, and 23.99% ± 10.86% of patients with Paraffin Wax, indicating that the tongue dose was relatively lower when using BinkieRTTM (p←.05). On the other hand, among nasal cavity cancer patients, the Dmean of tongue dose for patients who used BinkieRTTM was 4.4% ± 5.6%, and for those who used mouthpiece, 5.9% ± 6.8%, but it was not statistically significant (p→.05). The relative electron density of Paraffin Wax, BinkieRTTM and Putty is 0.94, 0.99, 1.26 and the mass density is 0.95, 0.99 and 1.32 (g/cc), Transmission Factor is 0.99, 0.98, 0.96 respectively. Conclusion: The result of the tongue DSC analysis over the treatment period was about 0.8 and Deviation of the center of tongue shifts were within 0.2 cm, the reproducibility was more likely excellent. In the case of unilateral head and neck cancer patients, it was found that the use of BinkieRTTM rather than Paraffin Wax or Putty can reduce the unnecessary dose irradiated to the tongue. This study might be useful to understand of BinkieRTTM's properties and advantages. And also it could be another considered option as oral stent to keep the reproducibility of tongue and reducing dose during head and neck radiation treatments.
The wall shear stress in the vicinity of end-to end anastomoses under steady flow conditions was measured using a flush-mounted hot-film anemometer(FMHFA) probe. The experimental measurements were in good agreement with numerical results except in flow with low Reynolds numbers. The wall shear stress increased proximal to the anastomosis in flow from the Penrose tubing (simulating an artery) to the PTFE: graft. In flow from the PTFE graft to the Penrose tubing, low wall shear stress was observed distal to the anastomosis. Abnormal distributions of wall shear stress in the vicinity of the anastomosis, resulting from the compliance mismatch between the graft and the host artery, might be an important factor of ANFH formation and the graft failure. The present study suggests a correlation between regions of the low wall shear stress and the development of anastomotic neointimal fibrous hyperplasia(ANPH) in end-to-end anastomoses. 30523 T00401030523 ^x Air pressure decay(APD) rate and ultrafiltration rate(UFR) tests were performed on new and saline rinsed dialyzers as well as those roused in patients several times. C-DAK 4000 (Cordis Dow) and CF IS-11 (Baxter Travenol) reused dialyzers obtained from the dialysis clinic were used in the present study. The new dialyzers exhibited a relatively flat APD, whereas saline rinsed and reused dialyzers showed considerable amount of decay. C-DAH dialyzers had a larger APD(11.70
This study was carried out to estimate the effects of breed and environment such as sex, test station, test year, test season, parity, initial and final weight on average daily gain, age at 90kg, backfat thickness, feed efficiency, lean percent and selection index on the basis of the performance data collected from 25,790 pigs of Duroc, Yorkshire and Landrace breeds which were performance-tested at the Korea Swine Testing Station from 1991 to 2002. The results obtained in the study are summarized as follows; 1. The means of the major economic traits were estimated as 959.95