{"id":77960,"date":"2026-06-04T17:59:16","date_gmt":"2026-06-04T14:59:16","guid":{"rendered":"https:\/\/www.uol.ac.cy\/?p=77960"},"modified":"2026-06-04T17:59:24","modified_gmt":"2026-06-04T14:59:24","slug":"more-evidence-for-asymmetric-volatility-return-correlations","status":"publish","type":"post","link":"https:\/\/www.uol.ac.cy\/el\/more-evidence-for-asymmetric-volatility-return-correlations\/","title":{"rendered":"\u03a0\u03b5\u03c1\u03b9\u03c3\u03c3\u03cc\u03c4\u03b5\u03c1\u03b5\u03c2 \u03b1\u03c0\u03bf\u03b4\u03b5\u03af\u03be\u03b5\u03b9\u03c2 \u03b3\u03b9\u03b1 \u03b1\u03c3\u03cd\u03bc\u03bc\u03b5\u03c4\u03c1\u03b5\u03c2 \u03c3\u03c5\u03c3\u03c7\u03b5\u03c4\u03af\u03c3\u03b5\u03b9\u03c2 \u03bc\u03b5\u03c4\u03b1\u03b2\u03bb\u03b7\u03c4\u03cc\u03c4\u03b7\u03c4\u03b1\u03c2-\u03b1\u03c0\u03cc\u03b4\u03bf\u03c3\u03b7\u03c2"},"content":{"rendered":"<style>\n.uol-publication-card {\n  background: #f4f1fb;\n  border-left: 4px solid #5b3aa4;\n  border-radius: 0 14px 14px 0;\n  padding: 24px 28px;\n  box-shadow: 0 10px 25px rgba(0,0,0,0.06);\n  margin-bottom: 24px;\n}\n.uol-publication-card h3 {\n  margin: 0 0 16px 0;\n  font-size: 22px;\n  font-weight: 700;\n  color: #111;\n}\n.uol-publication-card p {\n  margin: 0 0 16px 0;\n  font-size: 17px;\n  line-height: 1.6;\n  color: #111;\n}\n.uol-publication-btn {\n  display: inline-block;\n  background: #00b6c9;\n  color: #fff;\n  padding: 11px 22px;\n  border-radius: 6px;\n  text-decoration: none;\n  font-weight: 600;\n}\n.uol-publication-btn:hover {\n  background: #5b3aa4;\n  color: #fff;\n}\n<\/style>\n\n<div class=\"uol-publication-card\">\n  \n  <p><strong>\u03a0\u03b5\u03c1\u03af\u03bb\u03b7\u03c8\u03b7<\/strong><br>\n  \u039f\u03b9 Wang, H., Yan, J. \u03ba\u03b1\u03b9 Yu, J. (2017) \u03b1\u03c0\u03bf\u03b4\u03b5\u03b9\u03ba\u03bd\u03cd\u03bf\u03c5\u03bd \u03cc\u03c4\u03b9 \u03bf\u03b9 \u03c3\u03c5\u03c3\u03c7\u03b5\u03c4\u03af\u03c3\u03b5\u03b9\u03c2 \u03ba\u03b9\u03bd\u03b4\u03cd\u03bd\u03bf\u03c5-\u03b1\u03c0\u03cc\u03b4\u03bf\u03c3\u03b7\u03c2 \u03b1\u03bb\u03bb\u03ac\u03b6\u03bf\u03c5\u03bd \u03b1\u03c0\u03cc \u03b8\u03b5\u03c4\u03b9\u03ba\u03ad\u03c2 \u03c3\u03b5 \u03b1\u03c1\u03bd\u03b7\u03c4\u03b9\u03ba\u03ad\u03c2 \u03b1\u03bd\u03ac\u03bb\u03bf\u03b3\u03b1 \u03bc\u03b5 \u03c4\u03bf \u03b1\u03bd \u03b7 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ae \u03ad\u03c7\u03b5\u03b9 \u03c3\u03c5\u03c3\u03c3\u03c9\u03c1\u03b5\u03cd\u03c3\u03b5\u03b9 \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03b9\u03b1\u03ba\u03ac \u03ba\u03ad\u03c1\u03b4\u03b7 \u03ae \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03b9\u03b1\u03ba\u03ad\u03c2 \u03b6\u03b7\u03bc\u03af\u03b5\u03c2. \u039f\u03b9 \u03c3\u03c5\u03b3\u03b3\u03c1\u03b1\u03c6\u03b5\u03af\u03c2 \u03c5\u03c0\u03bf\u03c3\u03c4\u03b7\u03c1\u03af\u03b6\u03bf\u03c5\u03bd \u03cc\u03c4\u03b9 \u03b7 \u03b1\u03c1\u03c7\u03ae \u03c4\u03b7\u03c2 \u03b1\u03bd\u03c4\u03b1\u03bd\u03ac\u03ba\u03bb\u03b1\u03c3\u03b7\u03c2 \u03c4\u03b7\u03c2 \u03b8\u03b5\u03c9\u03c1\u03af\u03b1\u03c2 \u03c0\u03c1\u03bf\u03bf\u03c0\u03c4\u03b9\u03ba\u03ae\u03c2 \u03c0\u03b1\u03c1\u03ad\u03c7\u03b5\u03b9 \u03c4\u03b7\u03bd \u03c0\u03b9\u03bf \u03c0\u03b5\u03b9\u03c3\u03c4\u03b9\u03ba\u03ae \u03b5\u03be\u03ae\u03b3\u03b7\u03c3\u03b7 \u03c3\u03c4\u03b7\u03bd \u03b1\u03c3\u03c5\u03bc\u03bc\u03b5\u03c4\u03c1\u03af\u03b1. \u03a4\u03bf \u03c0\u03b1\u03c1\u03cc\u03bd \u03c3\u03b7\u03bc\u03b5\u03af\u03c9\u03bc\u03b1 \u03c3\u03c5\u03bc\u03c0\u03bb\u03b7\u03c1\u03ce\u03bd\u03b5\u03b9 \u03b1\u03c5\u03c4\u03ac \u03c4\u03b1 \u03c3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1, \u03b1\u03bd\u03b1\u03c6\u03ad\u03c1\u03bf\u03bd\u03c4\u03b1\u03c2 \u03b9\u03c3\u03c7\u03c5\u03c1\u03ad\u03c2 \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03ad\u03c2 \u03c3\u03c5\u03c3\u03c7\u03b5\u03c4\u03af\u03c3\u03b5\u03b9\u03c2 \u03bc\u03b5\u03c4\u03b1\u03be\u03cd \u03c4\u03c9\u03bd \u03b1\u03c0\u03cc\u03bb\u03c5\u03c4\u03c9\u03bd, \u03b1\u03bb\u03bb\u03ac \u03cc\u03c7\u03b9 \u03c4\u03c9\u03bd \u03c5\u03c0\u03bf\u03b3\u03b5\u03b3\u03c1\u03b1\u03bc\u03bc\u03ad\u03bd\u03c9\u03bd, \u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03bf\u03c0\u03bf\u03b9\u03b7\u03bc\u03ad\u03bd\u03c9\u03bd \u03b1\u03c0\u03bf\u03b4\u03cc\u03c3\u03b5\u03c9\u03bd \u03c4\u03c9\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03c4\u03bf\u03c5 S&amp;P500 \u03ba\u03b1\u03b9 \u03c4\u03c9\u03bd \u03b5\u03ba\u03c4\u03b9\u03bc\u03ae\u03c3\u03b5\u03c9\u03bd \u03c4\u03b7\u03c2 \u03c4\u03b1\u03c5\u03c4\u03cc\u03c7\u03c1\u03bf\u03bd\u03b7\u03c2 \u03bc\u03b5\u03c4\u03b1\u03b2\u03bb\u03b7\u03c4\u03cc\u03c4\u03b7\u03c4\u03b1\u03c2 \u03c4\u03c9\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd. \u039f\u03b9 \u03c3\u03c5\u03c3\u03c7\u03b5\u03c4\u03af\u03c3\u03b5\u03b9\u03c2 \u03b5\u03bc\u03c6\u03b1\u03bd\u03af\u03b6\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c3\u03c4\u03b1\u03b8\u03b5\u03c1\u03ac \u03c3\u03c4\u03b7 \u03b4\u03b9\u03b1\u03c4\u03bf\u03bc\u03ae \u03ba\u03b1\u03b9 \u03b4\u03b9\u03b1\u03c7\u03c1\u03bf\u03bd\u03b9\u03ba\u03ac \u03c3\u03c4\u03b7\u03bd \u03b1\u03bd\u03ac\u03bb\u03c5\u03c3\u03b7 \u03c4\u03c9\u03bd \u03b7\u03bc\u03b5\u03c1\u03ae\u03c3\u03b9\u03c9\u03bd, \u03bc\u03b7\u03bd\u03b9\u03b1\u03af\u03c9\u03bd, \u03c4\u03c1\u03b9\u03bc\u03b7\u03bd\u03b9\u03b1\u03af\u03c9\u03bd, \u03b5\u03be\u03b1\u03bc\u03b7\u03bd\u03b9\u03b1\u03af\u03c9\u03bd \u03ba\u03b1\u03b9 \u03b5\u03c4\u03ae\u03c3\u03b9\u03c9\u03bd \u03b1\u03c0\u03bf\u03b4\u03cc\u03c3\u03b5\u03c9\u03bd.<\/p>\n\n  <p><strong>\u0391\u03bd\u03b1\u03c6\u03bf\u03c1\u03ad\u03c2<\/strong><br>\n  Streltsin, V., Roth, Y., &amp; Sonsino, D. (2026). More Evidence for Asymmetric Volatility-Return Correlations. <em>\u03a7\u03c1\u03b7\u03bc\u03b1\u03c4\u03bf\u03bf\u03b9\u03ba\u03bf\u03bd\u03bf\u03bc\u03b9\u03ba\u03ae \u03ad\u03c1\u03b5\u03c5\u03bd\u03b1 Open<\/em>, 100089.<\/p>\n\n  <a class=\"uol-publication-btn\" href=\"https:\/\/doi.org\/10.1016\/j.finr.2026.100089\" target=\"_blank\" rel=\"noopener\">\u03a0\u03c1\u03bf\u03b2\u03bf\u03bb\u03ae \u03b4\u03b7\u03bc\u03bf\u03c3\u03af\u03b5\u03c5\u03c3\u03b7\u03c2 \u2192<\/a>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Abstract Wang, H., Yan, J. and Yu, J. (2017) demonstrate that the risk-return correlations change from positive to negative depending on whether the stock has accrued capital gains or capital losses. The authors argue that Prospect Theory\u2019s reflection principle provides the most convincing explanation to the asymmetry. The current note complements this evidence, reporting robust [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":77950,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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Wang, H., Yan, J. and Yu, J. (2017) demonstrate that the risk-return correlations change from positive to negative depending on whether the stock has accrued capital gains or capital losses. The authors argue that Prospect Theory\u2019s reflection principle provides the most convincing explanation to the asymmetry. The current note complements this evidence, reporting robust&hellip;","jetpack_shortlink":"https:\/\/wp.me\/peAODB-khq","publishpress_future_action":{"enabled":false,"date":"2026-06-26 11:28:32","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/posts\/77960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/comments?post=77960"}],"version-history":[{"count":0,"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/posts\/77960\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/media\/77950"}],"wp:attachment":[{"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/media?parent=77960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/categories?post=77960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/tags?post=77960"},{"taxonomy":"publication_author","embeddable":true,"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/publication_author?post=77960"},{"taxonomy":"publication_year","embeddable":true,"href":"https:\/\/www.uol.ac.cy\/el\/wp-json\/wp\/v2\/publication_year?post=77960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}