Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: Hedging Extreme Co-Movements   Based on a recent theorem due to the authors, it is shown how the extreme
tail dependence between an asset and a factor or index or between two assets
can be easily calibrated. Portfolios constructed with stocks with minimal tail
dependence with the market exhibit a remarkable degree of decorrelation with
the market at no cost in terms of performance measured by the Sharpe ratio.

37
The categories of this paper are: supr-con
32
The categories of this paper are: atom-ph
18
The categories of this paper are: econ
2
The categories of this paper are: math
7
The categories of this paper are: hep-th
26
The categories of this paper are: bayes-an
14
The categories of this paper are: math-ph
31
The categories of this paper are: ao-sci
19
The categories of this paper are: eess
35
The categories of this paper are: mtrl-th
30
The categories of this paper are: q-alg
24
The categories of this paper are: dg-ga
22
The categories of this paper are: chao-dyn
36
The categories of this paper are: cmp-lg
23
The categories of this paper are: solv-int
16
The categories of this paper are: stat