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Related Concept Videos

Compass01:23

Compass

The compass is a fundamental instrument that operates by aligning its magnetic needle with Earth's magnetic field. This alignment facilitates navigation and orientation, offering a means to determine direction relative to magnetic north. However, the magnetic needle points to magnetic north, which differs slightly from true geographic north due to magnetic declination, which is the angular deviation between these two points. Declination varies based on geographic location and shifts over time...
Polar Coordinates: Problem Solving01:27

Polar Coordinates: Problem Solving

Directional radiation patterns are central to antenna analysis, as they illustrate how signal strength varies with direction. These patterns are often modeled using polar plots, where the radial distance from the origin represents signal intensity at a given angle. A commonly used idealized form is the four-lobed rose curve, which captures the concept of directional beams in a simplified mathematical form.The four-lobed rose curve, described by r = cos⁡(2θ), features four symmetric lobes, each...
Electrical Power01:07

Electrical Power

Electric power is the product of current and voltage, represented in units of joules per second, or watts. For example, cars often have one or more auxiliary power outlets with which you can charge a cell phone or other electronic devices. These outlets may be rated at 20 amps and 12 volts, so that the circuit can deliver a maximum power of 240 watts. Consider a 25 Watt bulb and a 60 Watt bulb. The conversion of electrical energy produces heat and light, while the kinetic energy lost by the...
Impedance Combination01:21

Impedance Combination

Consider a string of christmas lights, each bulb symbolizing an impedance element. In this series configuration, the flow of electric current remains uniform across every component. This behavior aligns with Kirchhoff's Voltage Law (KVL), which asserts that the total impedance in such a setup equals the sum of individual impedances—akin to resistors in series. It follows that the voltage from the power source is distributed proportionally among these components, adhering to the voltage division...
Magnetic Force On A Current-Carrying Conductor01:25

Magnetic Force On A Current-Carrying Conductor

Moving charges experience a force in a magnetic field. Since the magnetic fields produced by moving charges are proportional to the current, a conductor carrying a current creates a magnetic field around it.
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Electrical Current

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Related Experiment Video

Updated: Jun 17, 2026

Comparative Study of Simulation of Temperature Rise in Ring Main Unit
04:35

Comparative Study of Simulation of Temperature Rise in Ring Main Unit

Published on: July 5, 2024

The compass rose pattern in electricity prices.

Jonathan A Batten1, Mahmoud Hamada

  • 1Department of Finance, Hong Kong University of Science & Technology, Clear Water Bay, Kowloon, Hong Kong. jabatten@ust.hk

Chaos (Woodbury, N.Y.)
|January 12, 2010
PubMed
Summary

The compass rose pattern appears in electricity price returns but disappears after filtering. Evidence suggests fractal structures in periodic returns, offering insights into market dynamics for derivatives and portfolios.

Related Experiment Videos

Last Updated: Jun 17, 2026

Comparative Study of Simulation of Temperature Rise in Ring Main Unit
04:35

Comparative Study of Simulation of Temperature Rise in Ring Main Unit

Published on: July 5, 2024

Area of Science:

  • Financial econometrics
  • Energy market analysis
  • Nonlinear dynamics

Background:

  • The "compass rose pattern" is observed in high-frequency financial return phase portraits.
  • This pattern has been linked to complex dynamics, including chaotic and fractal behavior.
  • Understanding such patterns is crucial for financial modeling and risk management.

Purpose of the Study:

  • To investigate the presence of the compass rose pattern in spot electricity price returns.
  • To determine if filtering affects the observed pattern and its underlying dynamics.
  • To assess the evidence for chaos and fractal structures in electricity price dynamics.

Main Methods:

  • Analysis of phase portraits (scatter diagrams) of high-frequency electricity price returns.
  • Application of simple filtering techniques to the return series.
  • Statistical tests for normality, chaos, and fractal structures.
  • Examination of filtered returns' phase diagrams for independence and market insights.

Main Results:

  • The compass rose pattern is initially present in spot electricity price returns.
  • After simple filtering, the compass rose pattern is no longer evident.
  • Electricity returns exhibit non-normal distributions and lack significant evidence of chaos.
  • Evidence of fractal structures is found in periodic price returns within a trading day.

Conclusions:

  • While initial analysis shows a pattern, filtering suggests it may not represent inherent complex dynamics in electricity prices.
  • The absence of significant chaos, despite non-normality, points to specific market behaviors.
  • Fractal structures in periodic returns offer valuable insights for market dynamics.
  • Filtered returns' phase diagrams serve as a useful tool for assessing independence in derivative pricing and portfolio construction.