سعید آقاسی

As a trading strategy, pairs trading is performed based on the arbitrage opportunities extracted from statistical models. It is an outcome of the distance between an asset pair and the equilibrium state. Consequently, selecting a pair with the potential to form long-term relationships and reverting to the mean is the main challenge associated with pair trading. Cointegration is one of the most famous statistical tests for selecting a pair's trading. The present study uses Empirical Mode Decomposition (EMD) to decompose the time series of an asset pair price into its constituent elements (intrinsic mode functions). This study examined the property of cointegration across different levels and the corresponding levels of 2- time series to find the cointegration pairs in different decomposition levels and finally examine the resulting profitability. To this end, the profitability of the pairs trading system related to 14 stocks of the Tehran Stock Exchange throughout 2012-2021 was investigated based on EMD. The results showed that the outputs are pretty noticeable for the first level of decomposition (the first intrinsic mode function), and the number of trading opportunities increased by more than two times compared to the normal pair trading with cointegration; the daily returns increased by four times; and the Sharpe ratio increased by about two times compared to the normal pairs trading. The system formed based on the second mode function also outperformed the normal cointegration, and the performance of the third intrinsic mode function is almost on par with that of cointegration. Moreover, the mean transaction duration decreased remarkably in the first and second mode functions.

Purpose: The purpose of this study is to design an organizational performance model based on the digital status of the organization in the Corona pandemic with a theme analysis approach in the Ministry of Industry, Mine, and Trade (MIMT).Method: This research was conducted with a qualitative approach. The research tool (data collection) was a semi-structured interview in which 27 elites and qualified specialists in MIMT (statistical population of this study) were selected using a purposive sampling approach to qualitative sampling.Finding: The results of data analysis in the qualitative section in the open coding stage identified 79 codes, which finally through axial coding achieved  3 categories (main category) and 21 indicators (subcategory).Conclusion: The main mission and goal of the managers of any organization is the effective and efficient use of various resources and facilities such as labor, capital, materials, energy, and information. Digital transformation, which has always been important as a fundamental and strategic action in organizations, has become more important in recent years following the outbreak of coronavirus; the pressures of the coronavirus epidemic have accelerated the efforts of organizations to create digital transformation