https://www.atamus.com/research Research notes from Atamus Capital on systematic investment research, mathematical foundations, risk frameworks, and quantitative investment research. en Sat, 04 Jul 2026 00:00:00 GMT https://www.atamus.com/articles/mechanics-of-the-quoted-price https://www.atamus.com/articles/mechanics-of-the-quoted-price Sat, 04 Jul 2026 00:00:00 GMT Quoted prices are measurements, not primitive observations of value. A market-structure note on bid-ask bounce, Roll covariance, realized variance bias, and microstructure noise. https://www.atamus.com/articles/when-diversification-fails https://www.atamus.com/articles/when-diversification-fails Atamus Capital examines why linear correlation can understate joint-failure risk through copulas, tail dependence, and controlled joint-loss calculations under stated probability laws. Mon, 18 May 2026 00:00:00 GMT https://www.atamus.com/articles/where-edge-goes-to-die https://www.atamus.com/articles/where-edge-goes-to-die Atamus Capital examines implementation shortfall, square-root market impact, capacity ceilings, liquidity concentration, and the arithmetic by which gross statistical edge can disappear after scale. Wed, 22 Apr 2026 00:00:00 GMT https://www.atamus.com/articles/distribution-behind-the-drawdown https://www.atamus.com/articles/distribution-behind-the-drawdown Atamus Capital examines maximum drawdown as a path-dependent risk functional through Brownian theory, closed-form expected drawdown, simulation validation, serial dependence, and fat-tailed return processes. Sun, 08 Mar 2026 00:00:00 GMT https://www.atamus.com/articles/the-arithmetic-of-multiple-discovery https://www.atamus.com/articles/the-arithmetic-of-multiple-discovery Atamus Capital examines how multiple testing changes evidence through FWER, Bonferroni and Sidak control, Benjamini-Hochberg FDR, correlated extremes, selected Sharpe ratios, and minimum track-record length. Wed, 18 Feb 2026 00:00:00 GMT https://www.atamus.com/articles/robustness-before-return https://www.atamus.com/articles/robustness-before-return Wed, 14 Jan 2026 00:00:00 GMT Atamus Capital examines systematic strategy validation through selection-adjusted inference, dependence, specification fragility, regime uncertainty, implementation risk, and drawdown distributions.