This paper introduces the quadrant probability as a new instrument to evaluate the correlation and co-movement between a pair of financial time series. We pair several stocks and indices and examine the pattern of the corresponding quadrant probabilities. To better understand the behavior of the...

Motivation: The reconstruction of gene networks from gene expression microar-rays is gaining popularity as methods improve and as more data become available. The reliability of such networks could be judged by the probability that a connection between genes is spurious, resulting from chance...