Orange is an open-source data visualization, machine learning and data mining toolkit. It features a visual programming front-end for exploratory qualitative data analysis and interactive data visualization. == Description == Orange is a component-based visual programming software package for data visualization, machine learning, data mining, and data analysis. Orange components are called widgets. They range from simple data visualization, subset selection, and preprocessing to empirical evaluation of learning algorithms and predictive modeling. Visual programming is implemented through an interface in which workflows are created by linking predefined or user-designed widgets, while advanced users can use Orange as a Python library for data manipulation and widget alteration. == Software == Orange is an open-source software package released under GPL and hosted on GitHub. Versions up to 3.0 include core components in C++ with wrappers in Python. From version 3.0 onwards, Orange uses common Python open-source libraries for scientific computing, such as numpy, scipy and scikit-learn, while its graphical user interface operates within the cross-platform Qt framework. The default installation includes a number of machine learning, preprocessing and data visualization algorithms in 6 widget sets (data, transform, visualize, model, evaluate and unsupervised). Additional functionalities are available as add-ons (text-mining, image analytics, bioinformatics, etc.). Orange is supported on macOS, Windows and Linux and can also be installed from the Python Package Index repository (pip install Orange3). == Features == Orange consists of a canvas interface onto which the user places widgets and creates a data analysis workflow. Widgets offer basic functionalities such as reading the data, showing a data table, selecting features, training predictors, comparing learning algorithms, visualizing data elements, etc. The user can interactively explore visualizations or feed the selected subset into other widgets. Canvas: graphical front-end for data analysis Widgets: Data: widgets for data input, data filtering, sampling, imputation, feature manipulation and feature selection Visualize: widgets for common visualization (box plot, histograms, scatter plot) and multivariate visualization (mosaic display, sieve diagram). Classify: a set of supervised machine learning algorithms for classification Regression: a set of supervised machine learning algorithms for regression Evaluate: cross-validation, sampling-based procedures, reliability estimation and scoring of prediction methods Unsupervised: unsupervised learning algorithms for clustering (k-means, hierarchical clustering) and data projection techniques (multidimensional scaling, principal component analysis, correspondence analysis). == Add-ons == Orange users can extend their core set of components with components in the add-ons. Supported add-ons include: Associate: components for mining frequent itemsets and association rule learning. Bioinformatics: components for gene expression analysis, enrichment, and access to expression databases (e.g., Gene Expression Omnibus) and pathway libraries. Data fusion: components for fusing different data sets, collective matrix factorization, and exploration of latent factors. Educational: components for teaching machine learning concepts, such as k-means clustering, polynomial regression, stochastic gradient descent, ... Explain: provides an extension with components for the model explanation, including Shapley value analysis Geo: components for working with geospatial data. Image analytics: components for working with images and ImageNet embeddings Network: components for graph and network analysis. Text mining: components for natural language processing and text mining. Time series: widget components for time series analysis and modeling. Single-cell: support for single-cell gene expression analysis, including components for loading single-cell data, filtering and batch effect removal, marker genes discovery, scoring of cells and genes, and cell type prediction. Spectroscopy: components for analyzing and visualization of (hyper)spectral datasets. Survival analysis: add-on for data analysis dealing with survival data. It includes widgets for standard survival analysis techniques, such as the Kaplan-Meier plot, the Cox regression model, and several derivative widgets. World Happiness: support for downloading socioeconomic data from a database, including OECD and World Development Indicators. Provides access to thousands of country indicators from various economic databases. Fairness: add-on for evaluation and creation of fair machine learning models without discrimination. Widgets range from computing fairness metrics like statistical parity to post-, pre-, in-processing methods to build fair models. == Objectives == The program provides a platform for experiment selection, recommendation systems, and predictive modelling and is used in biomedicine, bioinformatics, genomic research, and teaching. In science, it is used as a platform for testing new machine learning algorithms and for implementing new techniques in genetics and bioinformatics. In education, it was used for teaching machine learning and data mining methods to students of biology, biomedicine, and informatics. == Extensions == Various projects build on Orange either by extending the core components with add-ons or using only the Orange Canvas to exploit the implemented visual programming features and GUI. OASYS — ORange SYnchrotron Suite scOrange — single cell biostatistics Quasar — data analysis in natural sciences == History == In 1996, the University of Ljubljana and Jožef Stefan Institute started development of ML, a machine learning framework in C++, and Python bindings were developed for this framework in 1997, which, together with emerging Python modules, formed a joint framework called Orange. Over the following years, most contemporary major algorithms for data mining and machine learning were implemented in C++ (Orange's core) or Python modules. In 2002, first prototypes to create a flexible graphical user interface were designed using Pmw Python megawidgets. In 2003, the graphical user interface was redesigned and re-developed for Qt framework using PyQt Python bindings. The visual programming framework was defined, and the development of widgets (graphical components of the data analysis pipeline) began. In 2005, extensions for data analysis in bioinformatics was created. In 2008, Mac OS X DMG and Fink-based installation packages were developed. In 2009, over 100 widgets were created and maintained. In 2009, Orange 2.0 beta was released, offering installation packages on the website based on the daily compiling cycle. In 2012, a new object hierarchy was imposed, replacing the old module-based structure. In 2013, a significant redesign of the graphical user interface included a new toolbox and depiction of workflows. In 2015, Orange 3.0 was released. Orange stores the data in NumPy arrays; machine learning algorithms mostly use scikit-learn. In 2015, a text analysis add-on for Orange3 was released. In 2016, Orange released version 3.3. Development scheduled a monthly cycle for stable releases. In 2016, Orange began development and release of an Image Analytics add-on, with server-side deep neural networks for image embedding In 2017, a Spectroscopy add-on for the analysis of spectral data was introduced. In 2017, Geo, an add-on for dealing with geo-location data and visualisation of geo maps was introduced In 2018, Orange began development and release of an add-on for single-cell data analysis. In 2019, Orange separated its graphical interface for development as a separate project, orange-canvas-core In 2020, Orange introduced the Explain add-on with widgets for explaining classification models and regression models, highlighting the strength and contributions specific features make towards predicting a specific class. In 2022, World Happiness, an add-on for the Orange3 data mining suite, was introduced, providing widgets for accessing socioeconomic data from various databases such as World Happiness Report, World Development Indicators, OECD. In 2022, Orange extended the Explain add-on with an Individual Conditional Expectation plot and the Permutation Feature Importance technique. In 2023, Orange introduced the Fairness add-on, including widgets to calculate bias metrics, as well as widgets for pre-, post-, and in-processing methods, allowing the creation of models less susceptible to systematic error due to the vagaries of the data set.
Knowledge graph embedding
In representation learning, knowledge graph embedding (KGE), also called knowledge representation learning (KRL), or multi-relation learning, is a machine learning task of learning a low-dimensional representation of a knowledge graph's entities and relations while preserving their semantic meaning. Leveraging their embedded representation, knowledge graphs can be used for various applications such as link prediction, triple classification, entity recognition, clustering, and relation extraction. == Definition == A knowledge graph G = { E , R , F } {\displaystyle {\mathcal {G}}=\{E,R,F\}} is a collection of entities E {\displaystyle E} , relations R {\displaystyle R} , and facts F {\displaystyle F} . A fact is a triple ( h , r , t ) ∈ F {\displaystyle (h,r,t)\in F} that denotes a link r ∈ R {\displaystyle r\in R} between the head h ∈ E {\displaystyle h\in E} and the tail t ∈ E {\displaystyle t\in E} of the triple. Another notation that is often used in the literature to represent a triple (or fact) is ⟨ head , relation , tail ⟩ {\displaystyle \langle {\text{head}},{\text{relation}},{\text{tail}}\rangle } . This notation is called the Resource Description Framework (RDF). A knowledge graph represents the knowledge related to a specific domain; leveraging this structured representation, it is possible to infer a piece of new knowledge from it after some refinement steps. However, nowadays, people have to deal with the sparsity of data and the computational inefficiency to use them in a real-world application. The embedding of a knowledge graph is a function that translates each entity and each relation into a vector of a given dimension d {\displaystyle d} , called embedding dimension. It is even possible to embed the entities and relations with different dimensions. The embedding vectors can then be used for other tasks. A knowledge graph embedding is characterized by four aspects: Representation space: The low-dimensional space in which the entities and relations are represented. Scoring function: A measure of the goodness of a triple-embedded representation. Encoding models: The modality in which the embedded representation of the entities and relations interact with each other. Additional information: Any additional information coming from the knowledge graph that can enrich the embedded representation. Usually, an ad hoc scoring function is integrated into the general scoring function for each additional piece of information. == Embedding procedure == All algorithms for creating a knowledge graph embedding follow the same approach. First, the embedding vectors are initialized to random values. Then, they are iteratively optimized using a training set of triples. In each iteration, a batch of size b {\displaystyle b} triples is sampled from the training set, and a triple from it is sampled and corrupted—i.e., a triple that does not represent a true fact in the knowledge graph. The corruption of a triple involves substituting the head or the tail (or both) of the triple with another entity that makes the fact false. The original triple and the corrupted triple are added in the training batch, and then the embeddings are updated, optimizing a scoring function. Iteration stops when a stop condition is reached. Usually, the stop condition depends on the overfitting of the training set. At the end, the learned embeddings should have extracted semantic meaning from the training triples and should correctly predict unseen true facts in the knowledge graph. === Pseudocode === The following is the pseudocode for the general embedding procedure. algorithm Compute entity and relation embeddings input: The training set S = { ( h , r , t ) } {\displaystyle S=\{(h,r,t)\}} , entity set E {\displaystyle E} , relation set R {\displaystyle R} , embedding dimension k {\displaystyle k} output: Entity and relation embeddings initialization: the entities e {\displaystyle e} and relations r {\displaystyle r} embeddings (vectors) are randomly initialized while stop condition do S b a t c h ← s a m p l e ( S , b ) {\displaystyle S_{batch}\leftarrow sample(S,b)} // Sample a batch from the training set for each ( h , r , t ) {\displaystyle (h,r,t)} in S b a t c h {\displaystyle S_{batch}} do ( h ′ , r , t ′ ) ← s a m p l e ( S ′ ) {\displaystyle (h',r,t')\leftarrow sample(S')} // Sample a corrupted fact T b a t c h ← T b a t c h ∪ { ( ( h , r , t ) , ( h ′ , r , t ′ ) ) } {\displaystyle T_{batch}\leftarrow T_{batch}\cup \{((h,r,t),(h',r,t'))\}} end for Update embeddings by minimizing the loss function end while == Performance indicators == These indexes are often used to measure the embedding quality of a model. The simplicity of the indexes makes them very suitable for evaluating the performance of an embedding algorithm even on a large scale. Given Q {\displaystyle {\ce {Q}}} as the set of all ranked predictions of a model, it is possible to define three different performance indexes: Hits@K, MR, and MRR. === Hits@K === Hits@K or in short, H@K, is a performance index that measures the probability to find the correct prediction in the first top K model predictions. Usually, it is used k = 10 {\displaystyle k=10} . Hits@K reflects the accuracy of an embedding model to predict the relation between two given triples correctly. Hits@K = | { q ∈ Q : q < k } | | Q | ∈ [ 0 , 1 ] {\displaystyle ={\frac {|\{q\in Q:q In the areas of computer vision, image analysis and signal processing, the notion of scale-space representation is used for processing measurement data at multiple scales, and specifically enhance or suppress image features over different ranges of scale (see the article on scale space). A special type of scale-space representation is provided by the Gaussian scale space, where the image data in N dimensions is subjected to smoothing by Gaussian convolution. Most of the theory for Gaussian scale space deals with continuous images, whereas one when implementing this theory will have to face the fact that most measurement data are discrete. Hence, the theoretical problem arises concerning how to discretize the continuous theory while either preserving or well approximating the desirable theoretical properties that lead to the choice of the Gaussian kernel (see the article on scale-space axioms). This article describes basic approaches for this that have been developed in the literature, see also for an in-depth treatment regarding the topic of approximating the Gaussian smoothing operation and the Gaussian derivative computations in scale-space theory, and for a complementary treatment regarding hybrid discretization methods. == Statement of the problem == The Gaussian scale-space representation of an N-dimensional continuous signal, f C ( x 1 , ⋯ , x N , t ) , {\displaystyle f_{C}\left(x_{1},\cdots ,x_{N},t\right),} is obtained by convolving fC with an N-dimensional Gaussian kernel: g N ( x 1 , ⋯ , x N , t ) . {\displaystyle g_{N}\left(x_{1},\cdots ,x_{N},t\right).} In other words: L ( x 1 , ⋯ , x N , t ) = ∫ u 1 = − ∞ ∞ ⋯ ∫ u N = − ∞ ∞ f C ( x 1 − u 1 , ⋯ , x N − u N , t ) ⋅ g N ( u 1 , ⋯ , u N , t ) d u 1 ⋯ d u N . {\displaystyle L\left(x_{1},\cdots ,x_{N},t\right)=\int _{u_{1}=-\infty }^{\infty }\cdots \int _{u_{N}=-\infty }^{\infty }f_{C}\left(x_{1}-u_{1},\cdots ,x_{N}-u_{N},t\right)\cdot g_{N}\left(u_{1},\cdots ,u_{N},t\right)\,du_{1}\cdots du_{N}.} However, for implementation, this definition is impractical, since it is continuous. When applying the scale space concept to a discrete signal fD, different approaches can be taken. This article is a brief summary of some of the most frequently used methods. == Separability == Using the separability property of the Gaussian kernel g N ( x 1 , … , x N , t ) = G ( x 1 , t ) ⋯ G ( x N , t ) {\displaystyle g_{N}\left(x_{1},\dots ,x_{N},t\right)=G\left(x_{1},t\right)\cdots G\left(x_{N},t\right)} the N-dimensional convolution operation can be decomposed into a set of separable smoothing steps with a one-dimensional Gaussian kernel G along each dimension L ( x 1 , ⋯ , x N , t ) = ∫ u 1 = − ∞ ∞ ⋯ ∫ u N = − ∞ ∞ f C ( x 1 − u 1 , ⋯ , x N − u N , t ) G ( u 1 , t ) d u 1 ⋯ G ( u N , t ) d u N , {\displaystyle L(x_{1},\cdots ,x_{N},t)=\int _{u_{1}=-\infty }^{\infty }\cdots \int _{u_{N}=-\infty }^{\infty }f_{C}(x_{1}-u_{1},\cdots ,x_{N}-u_{N},t)G(u_{1},t)\,du_{1}\cdots G(u_{N},t)\,du_{N},} where G ( x , t ) = 1 2 π t e − x 2 2 t {\displaystyle G(x,t)={\frac {1}{\sqrt {2\pi t}}}e^{-{\frac {x^{2}}{2t}}}} and the standard deviation of the Gaussian σ is related to the scale parameter t according to t = σ2. Separability will be assumed in all that follows, even when the kernel is not exactly Gaussian, since separation of the dimensions is the most practical way to implement multidimensional smoothing, especially at larger scales. Therefore, the rest of the article focuses on the one-dimensional case. == The sampled Gaussian kernel == When implementing the one-dimensional smoothing step in practice, the presumably simplest approach is to convolve the discrete signal fD with a sampled Gaussian kernel: L ( x , t ) = ∑ n = − ∞ ∞ f ( x − n ) G ( n , t ) {\displaystyle L(x,t)=\sum _{n=-\infty }^{\infty }f(x-n)\,G(n,t)} where G ( n , t ) = 1 2 π t e − n 2 2 t {\displaystyle G(n,t)={\frac {1}{\sqrt {2\pi t}}}e^{-{\frac {n^{2}}{2t}}}} (with t = σ2) which in turn is truncated at the ends to give a filter with finite impulse response L ( x , t ) = ∑ n = − M M f ( x − n ) G ( n , t ) {\displaystyle L(x,t)=\sum _{n=-M}^{M}f(x-n)\,G(n,t)} for M chosen sufficiently large (see error function) such that 2 ∫ M ∞ G ( u , t ) d u = 2 ∫ M t ∞ G ( v , 1 ) d v < ε . {\displaystyle 2\int _{M}^{\infty }G(u,t)\,du=2\int _{\frac {M}{\sqrt {t}}}^{\infty }G(v,1)\,dv<\varepsilon .} A common choice is to set M to a constant C times the standard deviation of the Gaussian kernel M = C σ + 1 = C t + 1 {\displaystyle M=C\sigma +1=C{\sqrt {t}}+1} where C is often chosen somewhere between 3 and 6. Using the sampled Gaussian kernel can, however, lead to implementation problems, in particular when computing higher-order derivatives at finer scales by applying sampled derivatives of Gaussian kernels. When accuracy and robustness are primary design criteria, alternative implementation approaches should therefore be considered. For small values of ε (10−6 to 10−8) the errors introduced by truncating the Gaussian are usually negligible. For larger values of ε, however, there are many better alternatives to a rectangular window function. For example, for a given number of points, a Hamming window, Blackman window, or Kaiser window will do less damage to the spectral and other properties of the Gaussian than a simple truncation will. Notwithstanding this, since the Gaussian kernel decreases rapidly at the tails, the main recommendation is still to use a sufficiently small value of ε such that the truncation effects are no longer important. == The discrete Gaussian kernel == A more refined approach is to convolve the original signal with the discrete Gaussian kernel T(n, t) L ( x , t ) = ∑ n = − ∞ ∞ f ( x − n ) T ( n , t ) {\displaystyle L(x,t)=\sum _{n=-\infty }^{\infty }f(x-n)\,T(n,t)} where T ( n , t ) = e − t I n ( t ) {\displaystyle T(n,t)=e^{-t}I_{n}(t)} and I n ( t ) {\displaystyle I_{n}(t)} denotes the modified Bessel functions of integer order, n. This is the discrete counterpart of the continuous Gaussian in that it is the solution to the discrete diffusion equation (discrete space, continuous time), just as the continuous Gaussian is the solution to the continuous diffusion equation. This filter can be truncated in the spatial domain as for the sampled Gaussian L ( x , t ) = ∑ n = − M M f ( x − n ) T ( n , t ) {\displaystyle L(x,t)=\sum _{n=-M}^{M}f(x-n)\,T(n,t)} or can be implemented in the Fourier domain using a closed-form expression for its discrete-time Fourier transform: T ^ ( θ , t ) = ∑ n = − ∞ ∞ T ( n , t ) e − i θ n = e t ( cos θ − 1 ) . {\displaystyle {\widehat {T}}(\theta ,t)=\sum _{n=-\infty }^{\infty }T(n,t)\,e^{-i\theta n}=e^{t(\cos \theta -1)}.} With this frequency-domain approach, the scale-space properties transfer exactly to the discrete domain, or with excellent approximation using periodic extension and a suitably long discrete Fourier transform to approximate the discrete-time Fourier transform of the signal being smoothed. Moreover, higher-order derivative approximations can be computed in a straightforward manner (and preserving scale-space properties) by applying small support central difference operators to the discrete scale space representation. As with the sampled Gaussian, a plain truncation of the infinite impulse response will in most cases be a sufficient approximation for small values of ε, while for larger values of ε it is better to use either a decomposition of the discrete Gaussian into a cascade of generalized binomial filters or alternatively to construct a finite approximate kernel by multiplying by a window function. If ε has been chosen too large such that effects of the truncation error begin to appear (for example as spurious extrema or spurious responses to higher-order derivative operators), then the options are to decrease the value of ε such that a larger finite kernel is used, with cutoff where the support is very small, or to use a tapered window. == Recursive filters == Since computational efficiency is often important, low-order recursive filters are often used for scale-space smoothing. For example, Young and van Vliet use a third-order recursive filter with one real pole and a pair of complex poles, applied forward and backward to make a sixth-order symmetric approximation to the Gaussian with low computational complexity for any smoothing scale. By relaxing a few of the axioms, Lindeberg concluded that good smoothing filters would be "normalized Pólya frequency sequences", a family of discrete kernels that includes all filters with real poles at 0 < Z < 1 and/or Z > 1, as well as with real zeros at Z < 0. For symmetry, which leads to approximate directional homogeneity, these filters must be further restricted to pairs of poles and zeros that lead to zero-phase filters. To match the transfer function curvature at zero frequency of the discrete Gaussian, which ensures an approximate semi-group property of additive t, two poles at Z = 1 + 2 t − ( 1 + 2 t ) 2 − 1 {\displaystyle In trading strategy, news analysis refers to the measurement of the various qualitative and quantitative attributes of textual (unstructured data) news stories. Some of these attributes are: sentiment, relevance, and novelty. Expressing news stories as numbers and metadata permits the manipulation of everyday information in a mathematical and statistical way. This data is often used in financial markets as part of a trading strategy or by businesses to judge market sentiment and make better business decisions. News analytics are usually derived through automated text analysis and applied to digital texts using elements from natural language processing and machine learning such as latent semantic analysis, support vector machines, "bag of words" among other techniques. == Applications and strategies == The application of sophisticated linguistic analysis to news and social media has grown from an area of research to mature product solutions since 2007. News analytics and news sentiment calculations are now routinely used by both buy-side and sell-side in alpha generation, trading execution, risk management, and market surveillance and compliance. There is however a good deal of variation in the quality, effectiveness and completeness of currently available solutions. A large number of companies use news analysis to help them make better business decisions. Academic researchers have become interested in news analysis especially with regards to predicting stock price movements, volatility and traded volume. Provided a set of values such as sentiment and relevance as well as the frequency of news arrivals, it is possible to construct news sentiment scores for multiple asset classes such as equities, Forex, fixed income, and commodities. Sentiment scores can be constructed at various horizons to meet the different needs and objectives of high and low frequency trading strategies, whilst characteristics such as direction and volatility of asset returns as well as the traded volume may be addressed more directly via the construction of tailor-made sentiment scores. Scores are generally constructed as a range of values. For instance, values may range between 0 and 100, where values above and below 50 convey positive and negative sentiment, respectively. === Absolute return strategies === The objective of absolute return strategies is absolute (positive) returns regardless of the direction of the financial market. To meet this objective, such strategies typically involve opportunistic long and short positions in selected instruments with zero or limited market exposure. In statistical terms, absolute return strategies should have very low correlation with the market return. Typically, hedge funds tend to employ absolute return strategies. Below, a few examples show how news analysis can be applied in the absolute return strategy space with the purpose to identify alpha opportunities applying a market neutral strategy or based on volatility trading. Example 1 Scenario: The gap between the news sentiment scores for direction, S {\displaystyle S} , of Company X {\displaystyle X} and Market Y {\displaystyle Y} has moved beyond + 20 {\displaystyle +20} . That is, S X − S Y {\displaystyle S_{X}-S_{Y}} ≥ 20 {\displaystyle 20} . Action: Buy the stock on Company X {\displaystyle X} and short the future on Market Y {\displaystyle Y} . Exit Strategy: When the gap in the news sentiment scores for direction of Company X {\displaystyle X} and Market Y {\displaystyle Y} has disappeared, S X − S Y {\displaystyle S_{X}-S_{Y}} = 0 {\displaystyle 0} , sell the stock on Company X {\displaystyle X} and go long the future on Market Y {\displaystyle Y} to close the positions. Example 2 Scenario: The news sentiment score for volatility of Company X {\displaystyle X} goes above 70 {\displaystyle 70} out of 100 {\displaystyle 100} indicating an expected volatility above the option implied volatility. Action: Buy a short-dated straddle (the purchase of both a put and a call) on the stock of Company X {\displaystyle X} . Exit Strategy: Keep the straddle on Company X {\displaystyle X} until expiry or until a certain profit target has been reached. === Relative return strategies === The objective of relative return strategies is to either replicate (passive management) or outperform (active management) a theoretical passive reference portfolio or benchmark. To meet these objectives such strategies typically involve long positions in selected instruments. In statistical terms, relative return strategies often have high correlation with the market return. Typically, mutual funds tend to employ relative return strategies. Below, a few examples show how news analysis can be applied in the relative return strategy space with the purpose to outperform the market applying a stock picking strategy and by making tactical tilts to ones asset allocation model. Example 1 Scenario: The news sentiment score for direction of Company X {\displaystyle X} goes above 70 {\displaystyle 70} out of 100 {\displaystyle 100} . Action: Buy the stock on Company X {\displaystyle X} . Exit Strategy: When the news sentiment score for direction of Company X {\displaystyle X} falls below 60 {\displaystyle 60} , sell the stock on Company X {\displaystyle X} to close the position. Example 2 Scenario: The news sentiment score for direction of Sector Z {\displaystyle Z} goes above 70 {\displaystyle 70} out of 100 {\displaystyle 100} . Action: Include Sector Z {\displaystyle Z} as a tactical bet in the asset allocation model. Exit Strategy: When the news sentiment score for direction of Sector Z {\displaystyle Z} falls below 60 {\displaystyle 60} , remove the tactical bet for Sector Z {\displaystyle Z} from the asset allocation model. === Financial risk management === The objective of financial risk management is to create economic value in a firm or to maintain a certain risk profile of an investment portfolio by using financial instruments to manage risk exposures, particularly credit risk and market risk. Other types include Foreign exchange, Shape, Volatility, Sector, Liquidity, Inflation risks, etc. Below, a few examples show how news analysis can be applied in the financial risk management space with the purpose to either arrive at better risk estimates in terms of Value at Risk (VaR) or to manage the risk of a portfolio to meet ones portfolio mandate. Example 1 Scenario: The bank operates a VaR model to manage the overall market risk of its portfolio. Action: Estimate the portfolio covariance matrix taking into account the development of the news sentiment score for volume. Implement the relevant hedges to bring the VaR of the bank in line with the desired levels. Example 2 Scenario: A portfolio manager operates his portfolio towards a certain desired risk profile. Action: Estimate the portfolio covariance matrix taking into account the development of the news sentiment score for volume. Scale the portfolio exposure according to the targeted risk profile. === Computer algorithms using news analytics === Within 0.33 seconds, computer algorithms using news analytics can notify subscribers which company the news is about, if the news article sentiment is positive or negative, if the news is ranked as high or low relative importance … relative relevance. the stock price reaction and the increase in trade volume is concentrated in the first 5 seconds after an news article is released. === Algorithmic order execution === The objective of algorithmic order execution, which is part of the concept of algorithmic trading, is to reduce trading costs by optimizing on the timing of a given order. It is widely used by hedge funds, pension funds, mutual funds, and other institutional traders to divide up large trades into several smaller trades to manage market impact, opportunity cost, and risk more effectively. The example below shows how news analysis can be applied in the algorithmic order execution space with the purpose to arrive at more efficient algorithmic trading systems. Example 1 Scenario: A large order needs to be placed in the market for the stock on Company X {\displaystyle X} . Action: Scale the daily volume distribution for Company X {\displaystyle X} applied in the algorithmic trading system, thus taking into account the news sentiment score for volume. This is followed by the creation of the desired trading distribution forcing greater market participation during the periods of the day when volume is expected to be heaviest. == Effects == Being able to express news stories as numbers permits the manipulation of everyday information in a statistical way that allows computers not only to make decisions once made only by humans, but to do so more efficiently. Since market participants are always looking for an edge, the speed of computer connections and the delivery of news analysis, measured in milliseconds, have become essential. U-Net is a convolutional neural network that was developed for image segmentation. The network is based on a fully convolutional neural network whose architecture was modified and extended to work with fewer training images and to yield more precise segmentation. Segmentation of a 512 × 512 image takes less than a second on a modern (2015) GPU using the U-Net architecture. The U-Net architecture has also been employed in diffusion models for iterative image denoising. This technology underlies many modern image generation models, such as DALL-E, Midjourney, and Stable Diffusion. U-Net is also being explored for language models. Tokenization is not a separate step, allowing the model to more easily understand spelling and concurrently vectorizing / tokenizing higher level concepts. == Description == The U-Net architecture stems from the so-called "fully convolutional network". The main idea is to supplement a usual contracting network by successive layers, where pooling operations are replaced by upsampling operators. Hence these layers increase the resolution of the output. A successive convolutional layer can then learn to assemble a precise output based on this information. One important modification in U-Net is that there are a large number of feature channels in the upsampling part, which allow the network to propagate context information to higher resolution layers. As a consequence, the expansive path is more or less symmetric to the contracting part, and yields a u-shaped architecture. The network only uses the valid part of each convolution without any fully connected layers. To predict the pixels in the border region of the image, the missing context is extrapolated by mirroring the input image. This tiling strategy is important to apply the network to large images, since otherwise the resolution would be limited by the GPU memory. Recently, there had also been an interest in receptive field based U-Net models for medical image segmentation. == Network architecture == The network consists of a contracting path and an expansive path, which gives it the u-shaped architecture. The contracting path is a typical convolutional network that consists of repeated application of convolutions, each followed by a rectified linear unit (ReLU) and a max pooling operation. During the contraction, the spatial information is reduced while feature information is increased. The expansive pathway combines the feature and spatial information through a sequence of up-convolutions and concatenations with high-resolution features from the contracting path. == Applications == There are many applications of U-Net in biomedical image segmentation, such as brain image segmentation (''BRATS'') and liver image segmentation ("siliver07") as well as protein binding site prediction. U-Net implementations have also found use in the physical sciences, for example in the analysis of micrographs of materials. Variations of the U-Net have also been applied for medical image reconstruction. Here are some variants and applications of U-Net as follows: Pixel-wise regression using U-Net and its application on pansharpening; 3D U-Net: Learning Dense Volumetric Segmentation from Sparse Annotation; TernausNet: U-Net with VGG11 Encoder Pre-Trained on ImageNet for Image Segmentation. Image-to-image translation to estimate fluorescent stains In binding site prediction of protein structure. == History == U-Net was created by Olaf Ronneberger, Philipp Fischer, Thomas Brox in 2015 and reported in the paper "U-Net: Convolutional Networks for Biomedical Image Segmentation". It is an improvement and development of FCN: Evan Shelhamer, Jonathan Long, Trevor Darrell (2014). "Fully convolutional networks for semantic segmentation". Coolgorilla was one of the earliest software developers that created 3rd party native applications for Apple iPod devices. Coolgorilla was an early adopter of using a sponsorship business model to enable mobile applications to be given away freely. Coolgorilla developed a series of Talking Phrasebooks for iPods in 2006. They partnered with online travel company lastminute.com who sponsored the applications enabling them to be made available to download completely free of charge. As mobile devices became more sophisticated, Coolgorilla developed the Talking Phrasebooks for Sony Ericsson and Nokia Mobile Devices which at the time were considerably noteworthy since the applications used real voice audio translations. With Apple's introduction of the iPhone in 2007, Coolgorilla developed a Web App before having four of the iPhone Talking Phrasebooks available to download from Apple's App Store on the day it opened in 2008. == Almanac in Chronological Order == On 23 December 2005, CoolGorilla, a new start-up, launched a trivia game for the iPod. It was titled "Rock and Pop Quiz". It was a quiz game that tested users' knowledge on bands such as U2, Metallica, Beyonce, and the Beatles. The quiz contained twenty megabytes of audible trivia questions. The free game was compatible with 3rd, 4th and 5th generation iPods, iPod mini and nano. In March 2006, Coolgorilla released "Movie Quiz for iPods" with a price of $5. It was an audio game narrated by New York's DJ Thomas, a radio and television host, voice over artist and event Master of Ceremonies. There were questions on Star Wars, Spiderman, The Godfather, Pulp Fiction, The Matrix, James Bond, and others. The user could keep track of their score. The game included a secret code for players who answered all questions correctly which enabled users to enter their name on the Coolgorilla Hall of Fame. In May 2006, Coolgorilla launched a World Cup Encyclopedia which was released prior to the 2006 FIFA World Cup. It had information on the World Cup schedule, details of every player from every team, every score from every world cup game ever played, stadium details, and manager profiles. It was a free download. In June 2006, Coolgorilla released a series of iPod Phrasebooks in German, Greek, French and Spanish. They were sponsored by lastminute.com and were free. The phrasebooks included common words and phrases for tourists with 750 sound files. They were accessed through the iPod's Notes feature. In April 2007, Coolgorilla released a downloadable version of the Talking Phrasebooks for Nokia and Sony Ericsson mobile devices. French, Spanish, German, Greek, Italian, and Portuguese were produced. The application provided real voice translations. They initially sold for £3 but 3 months later were offered for free. The branding was lastminute.com branding. Apple's iPhone was released at the end of June 2007. Soon after, Coolgorilla released an online all-in-one version of their Talking Phrasebooks for iPhone (Web App). The Phrasebooks were made available online in the form of a web app as iPhone did not yet allow for the download of additional apps. The app provided both text and audio translations in French, Spanish, Portuguese, Italian, German, and Greek. The iPhone translated the phrases using the recordings of real, native voice-over artists. A text translation on screen was also displayed. Apple's App Store opened in July 2008 with approximately 500 native apps available. Four of these Apps were Coolgorilla's Talking Phrasebooks for iPhone (Native Apps). There was French, German, Italian, and Spanish. These Apps carried lastminute.com branding and were available for free download. In the first three weeks following their release, the phrasebooks had over 350,000 downloads. Subsequently, Dutch, Arabic, Mandarin and Cantonese were also released. In October 2008, Coolgorilla released an iPhone London Travel Guide. Coolgorilla featured on NBC News in August 2009. In 2010, FIAT used the Italian Phrasebook to help promote the release of their FIAT 500 in the US. There has been no further activity since. A large language model (LLM) is a type of machine learning model designed for natural language processing tasks such as language generation. LLMs are language models with many parameters, and are trained with self-supervised learning on a vast amount of text. == List == For the training cost column, 1 petaFLOP-day equals 1 petaFLOP/sec × 1 day, or 8.64×1019 FLOP (floating point operations). Only the cost of the largest model is shown. The number of parameters is measured in billions, and the training cost is measured in petaFLOP-days. === 2018 === === 2019 === === 2020 === === 2021 === === 2022 === === 2023 === === 2024 === === 2025 === === 2026 ===Scale space implementation
News analytics
U-Net
Coolgorilla
List of large language models