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Ruyi Liu

Publications and source records attributed to Ruyi Liu.

16 recordsLinked to original sources

HyperSU: Corpus-Driven Semantic-Unit Hypergraph for Retrieval-Augmented Generation

Recent Hypergraph-based retrieval-augmented generation (HyperRAG) methods use hyperedges to connect multiple entities simultaneously, enabling more efficient multi-entity evidence organization than pairwise graph structures. However, existing HyperRAG methods often rely on LLM-generated summaries to construct hyperedges, which can introduce hallucinations while also incurring high indexing costs. In addition, during retrieval, existing methods typically rely on either one-hop neighbor expansion or PageRank diffusion. The former may miss useful multi-hop evidence, while the latter can suffer from uncontrolled propagation over excessive hub nodes, leading to semantic drift and noisy reasoning chains. To address these challenges, we propose HyperSU, a novel hypergraph-based RAG framework featuring semantic-unit hyperedges and clue-guided bidirectional retrieval. During construction, HyperSU formulates hyperedge construction as an entity-aware minimum-description-length (MDL) optimization problem, inducing source-grounded semantic-unit hyperedges that balance sentence-level semantic coherence and entity compactness. It then constructs a hypergraph by modeling each semantic unit as a hyperedge over its co-mentioned entities. During retrieval, HyperSU performs clue-guided bidirectional expansion over the semantic-unit hypergraph, enabling both multi-hop evidence discovery and answer-aware noise reduction. Experiments show that HyperSU consistently improves answer accuracy over standard, graph-based, and hypergraph-based RAG baselines, achieving up to a 14.7% relative accuracy improvement on GraphRAG-Bench, with larger gains on reasoning-intensive tasks.

cs.IR

A Measurement-Based Parameterization of Physics Reflection Models for Terahertz Communication

The accurate modeling of reflection coefficients is pivotal for developing reliable channel models in emerging terahertz (THz) communications. This study establishes a 300$\sim$400 GHz channel measurement platform to measure the reflection coefficients of various materials. Based on the analysis of measured data, we propose the single-layer interference with an extended-parameterized Lorentz/Drude (SLI-EPLD) reflection coefficient model. In this model, a sub-band modeling strategy is adopted to characterize the variation of reflection coefficients with frequency, while a parameterized mapping approach is employed to ensure the stability of model parameters. Furthermore, the weighted sub-band fitting for trend regression (WF-TREND) algorithm is introduced to achieve precise sub-band parameter fitting. Validation results demonstrate superior performance to existing models across multiple materials. The reflection coefficient model established in this work serves as a critical foundation for channel modeling in 300$\sim$400 GHz for high-THz communication.

eess.SP

MEDN: Motion-Emotion Feature Decoupling Network for Micro-Expression Recognition

Unlike macro-expression, micro-expression does not follow a strictly consistent mapping rule between emotions and Action Units (AUs). As a result, some micro-expressions share identical AUs yet represent completely opposite emotional categories, making them highly visually similar. Existing microexpression recognition (MER) methods mostly rely on explicit facial motion cues (e.g., optical flow, frame differences, AU features) while ignoring implicit emotion information. To tackle this issue, this paper presents a Motion Emotion Feature Decoupling Network (MEDN) for MER. We design a dual-branch framework to separately extract motion and emotion features. In the motion branch, an AU-detection task restricts features to the explicit motion domain, and orthogonal loss is adopted to reduce motion emotion feature coupling. For implicit emotion modeling, we propose a Sparse Emotion Vision Transformer (SEVit) that sparsifies spatial tokens to highlight local temporal variations with multi-scale sparsity rates. A Collaborative Fusion Module (CoFM) is further developed to fuse disentangled motion and emotion features adaptively. Extensive experiments on three benchmark datasets validate that MEDN effectively decouples motion and emotion features and achieves superior recognition performance, offering a new perspective for enhancing recognition accuracy and generalization.

cs.CV

Choice of Collateral Currency in Differential Swaps

The role of collateral in derivative pricing has evolved beyond credit risk mitigation, particularly following the global financial crisis, when funding costs and basis spreads became central to valuation practices. This development coincided with the transition from the London Interbank Offered Rate (LIBOR) to risk-free rates (RFRs) and the increasing standardization of collateralised trading. We study the valuation and hedging of a class of differential swaps referencing backward-looking averages of overnight rates, with SOFR swaps appearing as a particular instance. The focus is on the impact of the collateral currency. Extending earlier results Ding et al. [Math. Finance 36 (2026), pp.~180--202], we allow the collateral account to be denominated in a currency different from that of the contractual cash flows and derive explicit pricing and hedging strategies using a futures-based replication approach. We show that the choice of collateral currency can have a non-trivial effect on both valuation and risk management. In particular, foreign-currency collateral can introduce additional risk exposures even when contractual cash flows are entirely denominated in the domestic currency. Numerical study demonstrates that collateral effects can lead to significant valuation adjustments and therefore need to be properly incorporated in modern multi-currency modelling frameworks.

q-fin.MF

Calibrated Bayes analysis of cluster-randomized trials

In cluster-randomized trials (CRTs), entire clusters of individuals are randomized to treatment, and outcomes within a cluster are typically correlated. While frequentist approaches are standard practice for CRT analysis, Bayesian methods have emerged as a strong alternative. Previous work has investigated the use of Bayesian hierarchical models for continuous, binary, and count outcomes in CRTs, but these approaches focus on model-based treatment effect coefficients as the target estimands, which may have ambiguous interpretation under model misspecification and informative cluster size. In this article, we introduce a calibrated Bayesian procedure for estimand-aligned analysis of CRTs even in the presence of potentially misspecified models. We propose estimators targeting both the cluster-average treatment effect (cluster-ATE) and individual-average treatment effect (individual-ATE), particularly in scenarios with informative cluster sizes. We additionally explore strategies for summarizing the posterior samples that can achieve the frequentist coverage even under working model misspecification. We provide simulation evidence to demonstrate the model-robustness property of the proposed estimators in CRTs, and further investigate the impact of covariate adjustment as well as the use of more flexible Bayesian nonparametric working models in the CRT context.

stat.ME

Coffee: Controllable Diffusion Fine-tuning

Text-to-image diffusion models can generate diverse content with flexible prompts, which makes them well-suited for customization through fine-tuning with a small amount of user-provided data. However, controllable fine-tuning that prevents models from learning undesired concepts present in the fine-tuning data, and from entangling those concepts with user prompts, remains an open challenge. It is crucial for downstream tasks like bias mitigation, preventing malicious adaptation, attribute disentanglement, and generalizable fine-tuning of diffusion policy. We propose Coffee that allows using language to specify undesired concepts to regularize the adaptation process. The crux of our method lies in keeping the embeddings of the user prompt from aligning with undesired concepts. Crucially, Coffee requires no additional training and enables flexible modification of undesired concepts by modifying textual descriptions. We evaluate Coffee by fine-tuning on images associated with user prompts paired with undesired concepts. Experimental results demonstrate that Coffee can prevent text-to-image models from learning specified undesired concepts during fine-tuning and outperforms existing methods. Code will be released upon acceptance.

cs.CV

A comparison of methods for designing hybrid type 2 cluster-randomized trials with continuous effectiveness and implementation endpoints

Hybrid type 2 studies are gaining popularity for their ability to assess both implementation and health outcomes as co-primary endpoints. Often conducted as cluster-randomized trials (CRTs), five design methods can validly power these studies: p-value adjustment methods, combined outcomes approach, single weighted 1-DF test, disjunctive 2-DF test, and conjunctive test. We compared these methods theoretically and numerically. Theoretical comparisons of power equations allowed us to identify when one method had more or less power than another globally. We showed that p-value adjustment methods are always less powerful than both the combined outcomes approach and the single 1-DF test, and identified conditions where the disjunctive 2-DF test is less powerful than the single 1-DF test. To further investigate when power advantages shift, we conducted a large-scale numerical study using our novel crt2power R package, which calculates power or sample size for CRTs with two continuous co-primary endpoints using these methods. Across 45,000 input scenarios, we found specific patterns: when treatment effects are unequal, the disjunctive 2-DF test tends to be most powerful; when treatment effects are equal, the single 1-DF test tends to dominate. Together, these comparisons offer practical guidance for powering hybrid type 2 studies.

stat.ME

Cross-Currency Basis Swaps Referencing Backward-Looking Rates

The financial industry has undergone a significant transition from the London Interbank Offered Rates (LIBORs) to Risk Free Rates (RFRs) such as, e.g., the Secured Overnight Financing Rate (SOFR) in the U.S. and the Cash Rate (AONIA) in Australia, as primary benchmark rates for borrowing costs. The paper examines the pricing and hedging method for financial products in a cross-currency framework with the special emphasis on the Compound SOFR vs Average AONIA cross-currency basis swap (CCBS) where both reference rates are backward-looking and the swap is collateralized. While the SOFR and AONIA are used as particular instances of RFRs in a cross-currency basis swap, the proposed approach is able to handle backward-looking rates for any two currencies. We give explicit pricing and hedging results for a constant notional cross-currency basis swap with either domestic or foreign collateralization using interest rate futures and currency futures as hedging instruments within an arbitrage-free cross-currency multi-curve setting.

q-fin.MF

Exploration of Class Center for Fine-Grained Visual Classification

Different from large-scale classification tasks, fine-grained visual classification is a challenging task due to two critical problems: 1) evident intra-class variances and subtle inter-class differences, and 2) overfitting owing to fewer training samples in datasets. Most existing methods extract key features to reduce intra-class variances, but pay no attention to subtle inter-class differences in fine-grained visual classification. To address this issue, we propose a loss function named exploration of class center, which consists of a multiple class-center constraint and a class-center label generation. This loss function fully utilizes the information of the class center from the perspective of features and labels. From the feature perspective, the multiple class-center constraint pulls samples closer to the target class center, and pushes samples away from the most similar nontarget class center. Thus, the constraint reduces intra-class variances and enlarges inter-class differences. From the label perspective, the class-center label generation utilizes classcenter distributions to generate soft labels to alleviate overfitting. Our method can be easily integrated with existing fine-grained visual classification approaches as a loss function, to further boost excellent performance with only slight training costs. Extensive experiments are conducted to demonstrate consistent improvements achieved by our method on four widely-used fine-grained visual classification datasets. In particular, our method achieves state-of-the-art performance on the FGVC-Aircraft and CUB-200-2011 datasets.

cs.CV

Equity Protection Swaps: A New Type of Investment Insurance for Holders of Superannuation Accounts

We propose to develop a new class of investment insurance products for holders of superannuation accounts in Australia, which we tentatively call equity protection swaps (EPSs). An EPS is a standalone financial derivative, which is reminiscent of a total return swap but also shares some features with the variable annuity known as the registered index-linked annuity (RILA). The buyer of an EPS obtains partial protection against losses on a reference portfolio and, in exchange, agrees to share portfolio gains with the insurance provider if the realized return on a reference portfolio is above a predetermined threshold. Formally, a generic EPS consists of protection and fee legs with participation rates agreed upon by the provider and holder. A general fair pricing formula for an EPS is obtained by considering a static hedging strategy based on traded European options. It is argued that to make the contract appealing to holders, the provider should select appropriate protection and fee rates that make the fair premium at the contract's inception equal to zero. A numerical study based on the Black-Scholes model and empirical tests based on market data for S\&P~500 and S&P/ASX~200 indices for 2020-2022 demonstrates the benefits of an EPS as an efficient investment insurance tool for superannuation accounts.

q-fin.PR

Group sequential two-stage preference designs

The two-stage preference design (TSPD) enables the inference for treatment efficacy while allowing for incorporation of patient preference to treatment. It can provide unbiased estimates for selection and preference effects, where a selection effect occurs when patients who prefer one treatment respond differently than those who prefer another, and a preference effect is the difference in response caused by an interaction between the patient's preference and the actual treatment they receive. One potential barrier to adopting TSPD in practice, however, is the relatively large sample size required to estimate selection and preference effects with sufficient power. To address this concern, we propose a group sequential two-stage preference design (GS-TSPD), which combines TSPD with sequential monitoring for early stopping. In the GS-TSPD, pre-planned sequential monitoring allows investigators to conduct repeated hypothesis tests on accumulated data prior to full enrollment to assess study eligibility for early trial termination without inflating type I error rates. Thus, the procedure allows investigators to terminate the study when there is sufficient evidence of treatment, selection, or preference effects during an interim analysis, thereby reducing the design resource in expectation. To formalize such a procedure, we verify the independent increments assumption for testing the selection and preference effects and apply group sequential stopping boundaries from the approximate sequential density functions. Simulations are then conducted to investigate the operating characteristics of our proposed GS-TSPD compared to the traditional TSPD. We demonstrate the applicability of the design using a study of Hepatitis C treatment modality.

stat.ME

Pairs Trading: An Optimal Selling Rule with Constraints

The focus of this paper is on identifying the most effective selling strategy for pairs trading of stocks. In pairs trading, a long position is held in one stock while a short position is held in another. The goal is to determine the optimal time to sell the long position and repurchase the short position in order to close the pairs position. The paper presents an optimal pairs-trading selling rule with trading constraints. In particular, the underlying stock prices evolve according to a two dimensional geometric Brownian motion and the trading permission process is given in terms of a two-state {trading allowed, trading not allowed} Markov chain. It is shown that the optimal policy can be determined by a threshold curve which is obtained by solving the associated HJB equations (quasi-variational inequalities). A closed form solution is obtained. A verification theorem is provided. Numerical experiments are also reported to demonstrate the optimal policies and value functions.

q-fin.MF

Well-posedness and penalization schemes for generalized BSDEs and reflected generalized BSDEs

The paper is directly motivated by the pricing of vulnerable European and American options in a general hazard process setup and a related study of the corresponding pre-default backward stochastic differential equations (BSDE) and pre-default reflected backward stochastic differential equations (RBSDE). We work with a generic filtration $\FF$ for which the martingale representation property is assumed to hold with respect to a square-integrable martingale $M$ and the goal of this work is of twofold. First, we aim to establish the well-posedness results and comparison theorems for a generalized BSDE and a reflected generalized BSDE with a continuous and nondecreasing driver $A$. Second, we study extended penalization schemes for a generalized BSDE and a reflected generalized BSDE in which we penalize against the driver in order to obtain in the limit either a particular optimal stopping problem or a Dynkin game in which the set of admissible exercise time is constrained to the right support of the measure generated by $A$.

math.PR

Vulnerable European and American Options in a Market Model with Optional Hazard Process

We study the upper and lower bounds for prices of European and American style options with the possibility of an external termination, meaning that the contract may be terminated at some random time. Under the assumption that the underlying market model is incomplete and frictionless, we obtain duality results linking the upper price of a vulnerable European option with the price of an American option whose exercise times are constrained to times at which the external termination can happen with a non-zero probability. Similarly, the upper and lower prices for an vulnerable American option are linked to the price of an American option and a game option, respectively. In particular, the minimizer of the game option is only allowed to stop at times which the external termination may occur with a non-zero probability.

q-fin.MF

Two Equivalent Families of Linear Fully Coupled Forward Backward Stochastic Differential Equations

In this paper, we investigate two families of fully coupled linear Forward-Backward Stochastic Differential Equations (FBSDE). Within these families, one could get the same well-posedness of FBSDEs with totally different structures. The first family of FBSDEs are proved to be equivalent with respect to the Unified Approach. Thus one could get the well-posedness of the whole family if one member exists a unique solution. Another equivalent family of FBSDEs are investigated by introducing a linear transformation method. By reason of the fully coupling structure between the forward and backward equations, it leads to a highly interdependence in solutions. We are able to lower the coupling of FBSDEs, by virtue of the idea of transformation, without losing the well-posedness. Moreover, owing to the non-degeneracy of the transformation matrix, the solution to original FBSDE is totally determined by solutions of FBSDE after transformation. In addition, an example of optimal Linear Quadratic (LQ) problem is presented to illustrate.

math.OC

Continuous-time mean-variance portfolio selection under non-Markovian regime-switching model with random horizon

In this paper, we consider a continuous-time mean-variance portfolio selection with regime-switching and random horizon. Unlike previous works, the dynamic of assets are described by non-Markovian regime-switching models in the sense that all the market parameters are predictable with respect to the filtration generated jointly by Markov chain and Brownian motion. We formulate this problem as a constrained stochastic linear-quadratic optimal control problem. The Markov chain is assumed to be independent of the Brownian motion. So the market is incomplete. We derive closed-form expressions for both the optimal portfolios and the efficient frontier. All the results are different from those in the problem with fixed time horizon.

q-fin.MF