Category archive

Markets

Trading, exchanges, derivatives, and market mechanics. Everything you need to navigate crypto markets.

Articles

Current page

Page 6 of 12

Derivatives

Apr 4, 2026

What is Risk-Neutral Measure?

Learn what the risk-neutral measure is, why no-arbitrage implies it, and how it makes derivative pricing a discounted expectation under Q.

24 min read

Derivatives

Apr 4, 2026

What Is the Heston Model?

Learn what the Heston model is, how stochastic volatility works, why it explains implied-volatility skew, and how traders calibrate it in practice.

22 min read

Derivatives

Apr 4, 2026

What Is Implied Volatility?

Learn what implied volatility is, how it is calculated from option prices, why traders use it, and where model assumptions matter.

21 min read

Portfolio

Apr 4, 2026

What Is the Capital Asset Pricing Model (CAPM)?

Learn what CAPM is, how beta links risk to expected return, why the market portfolio matters, and where the model works or breaks down.

22 min read

Portfolio

Apr 4, 2026

What Is Cross-Asset Correlation?

Learn what cross-asset correlation is, how it affects diversification and portfolio risk, why it changes in crises, and where simple correlation breaks down.

22 min read

Portfolio

Apr 4, 2026

What is Mean-Variance Optimization?

Learn what mean-variance optimization is, how it builds efficient portfolios, why covariance matters, and where estimation error limits it.

22 min read

Portfolio

Apr 4, 2026

What Is a Statistical Risk Model?

Learn what statistical risk models are, how they estimate portfolio volatility and correlation, and why factor models, PCA, and VaR depend on them.

24 min read

Portfolio

Apr 4, 2026

What Is Value at Risk (VaR)?

Learn what Value at Risk (VaR) is, how it is calculated, why firms use it, and where it breaks down in portfolio and market risk management.

22 min read

Derivatives

Apr 4, 2026

What Is the Black-Scholes Model?

Learn what the Black-Scholes model is, how it prices options through replication and hedging, and why traders still use it despite its limits.

22 min read

Market Structure

Apr 4, 2026

What Is Order Book Imbalance?

Learn what order book imbalance is, how it measures buy vs. sell liquidity, why it predicts short-term price moves, and where the signal breaks down.

23 min read

Market Structure

Apr 4, 2026

What Is Order Flow Toxicity?

Learn what order flow toxicity is, why it matters to market makers, how VPIN tries to measure it, and where the concept is useful or limited.

23 min read

Market Data

Apr 4, 2026

What Is a Market Data Feed Handler?

Learn what market data feed handlers are, why exchanges need them, and how they decode, sequence, recover, normalize, and publish usable market state.

21 min read