Volatility (finance)In finance, volatility (usually denoted by σ) is the degree of variation of a trading price series over time, usually measured by the standard deviation of logarithmic returns. Historic volatility measures a time series of past market prices. Implied volatility looks forward in time, being derived from the market price of a market-traded derivative (in particular, an option).
Volatility smileVolatility smiles are implied volatility patterns that arise in pricing financial options. It is a parameter (implied volatility) that is needed to be modified for the Black–Scholes formula to fit market prices. In particular for a given expiration, options whose strike price differs substantially from the underlying asset's price command higher prices (and thus implied volatilities) than what is suggested by standard option pricing models. These options are said to be either deep in-the-money or out-of-the-money.
Energy security and renewable technologyThe environmental benefits of renewable energy technologies are widely recognised, but the contribution that they can make to energy security is less well known. Renewable technologies can enhance energy security in electricity generation, heat supply, and transportation. Access to cheap energy has become essential to the functioning of modern economies. However, the uneven distribution of fossil fuel supplies among countries, and the critical need to widely access energy resources, has led to significant vulnerabilities.
AC powerIn an electric circuit, instantaneous power is the time rate of flow of energy past a given point of the circuit. In alternating current circuits, energy storage elements such as inductors and capacitors may result in periodic reversals of the direction of energy flow. Its SI unit is the watt. The portion of instantaneous power that, averaged over a complete cycle of the AC waveform, results in net transfer of energy in one direction is known as instantaneous active power, and its time average is known as active power or real power.
Nickel–metal hydride batteryA nickel metal hydride battery (NiMH or Ni–MH) is a type of rechargeable battery. The chemical reaction at the positive electrode is similar to that of the nickel–cadmium cell (NiCd), with both using nickel oxide hydroxide (NiOOH). However, the negative electrodes use a hydrogen-absorbing alloy instead of cadmium. NiMH batteries can have two to three times the capacity of NiCd batteries of the same size, with significantly higher energy density, although much less than lithium-ion batteries.
Implied volatilityIn financial mathematics, the implied volatility (IV) of an option contract is that value of the volatility of the underlying instrument which, when input in an option pricing model (such as Black–Scholes), will return a theoretical value equal to the current market price of said option. A non-option financial instrument that has embedded optionality, such as an interest rate cap, can also have an implied volatility. Implied volatility, a forward-looking and subjective measure, differs from historical volatility because the latter is calculated from known past returns of a security.
Nickel–cadmium batteryThe nickel-cadmium battery (Ni-Cd battery or NiCad battery) is a type of rechargeable battery using nickel oxide hydroxide and metallic cadmium as electrodes. The abbreviation Ni-Cd is derived from the chemical symbols of nickel (Ni) and cadmium (Cd): the abbreviation NiCad is a registered trademark of SAFT Corporation, although this brand name is commonly used to describe all Ni-Cd batteries. Wet-cell nickel-cadmium batteries were invented in 1899. A Ni-Cd battery has a terminal voltage during discharge of around 1.
Stochastic volatilityIn statistics, stochastic volatility models are those in which the variance of a stochastic process is itself randomly distributed. They are used in the field of mathematical finance to evaluate derivative securities, such as options. The name derives from the models' treatment of the underlying security's volatility as a random process, governed by state variables such as the price level of the underlying security, the tendency of volatility to revert to some long-run mean value, and the variance of the volatility process itself, among others.
Lithium-ion batteryA lithium-ion or Li-ion battery is a type of rechargeable battery which uses the reversible reduction of lithium ions to store energy. The negative electrode of a conventional lithium-ion cell is typically graphite, a form of carbon. This negative electrode is sometimes called the anode as it acts as an anode during discharge. The positive electrode is typically a metal oxide; the positive electrode is sometimes called the cathode as it acts as a cathode during discharge.
Flow batteryA flow battery, or redox flow battery (after reduction–oxidation), is a type of electrochemical cell where chemical energy is provided by two chemical components dissolved in liquids that are pumped through the system on separate sides of a membrane. Ion transfer inside the cell (accompanied by flow of electric current through an external circuit) occurs through the membrane while both liquids circulate in their own respective space. Cell voltage is chemically determined by the Nernst equation and ranges, in practical applications, from 1.
Molten-salt batteryMolten-salt batteries are a class of battery that uses molten salts as an electrolyte and offers both a high energy density and a high power density. Traditional non-rechargeable thermal batteries can be stored in their solid state at room temperature for long periods of time before being activated by heating. Rechargeable liquid-metal batteries are used for industrial power backup, special electric vehicles and for grid energy storage, to balance out intermittent renewable power sources such as solar panels and wind turbines.
TimeTime is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to compare the duration of events or the intervals between them, and to quantify rates of change of quantities in material reality or in the conscious experience. Time is often referred to as a fourth dimension, along with three spatial dimensions.
