The Random Walk Model Being interested in taking a closer look into all things that might influence variance, I came up with a random walk model to simulate a basketball possession.

P. L. Hsu, The Approximate Distributions of the Mean and Variance of a Sample of Independent Variables, The Annals of Mathematical Statistics, Vol. 16, No. 1 (Mar., 1945), pp. 1-29 ...

The Monte Carlo simulation estimates the probability of different outcomes in a process that cannot easily be predicted because of the potential for random variables.

Mean-variance optimization is a key element of data-based investing. It is the process of measuring an asset’s risk against its likely return and investing based on that risk/return ratio. Here ...

This paper concerns the continuous-time, mean-variance portfolio selection problem in a complete market with random interest rate, appreciation rates, and volatility coefficients.