Masato Hisakado, Takuya Kaneko · 2026-08-25
A plain-English AI summary of what this paper means for investors — generated on demand from the abstract.
We study long-range correlated Wigner-type matrices built from row-independent stationary Gaussian sequences. For exponentially decaying (AR(1)) correlations, the bulk spectral density deforms from the semicircle law via an explicit combinatorial "hub" mechanism, yet we verify the flatness and decay hypotheses of the matrix-Dyson-equation framework (MDE), with numerical evidence supporting Tracy-Widom edge universality for every fixed $ρ<1$ of the exponential decay correlations; the degenerate limit $ρ\to1^-$ reduces to a symmetrized Volterra operator, connecting to the singular-value cascade identified in a companion BBP analysis. For power-law correlations $dt\sim t^{-γ}$, we identify $γ_c=1/2$ as the critical point for divergence of the bulk fourth-moment, while $γ=1$ marks the breakdown of the flatness condition governing the MDE edge analysis. We prove the fourth-moment transition exactly and find numerically that the self-consistent edge varies smoothly across $γ=1$, with no evidence of a kink or discontinuity.
Go deeper: a full research-committee breakdown of this paper, its assumptions and failure modes, and how its method would apply to a specific ticker or your watchlist. See StockTools AI →
AI summary generated from the paper’s public abstract via arXiv; it may miss nuance — read the source before relying on it. Thank you to arXiv for its open-access interoperability; StockTools is not affiliated with arXiv, and all rights remain with the authors. Educational only, not financial advice.