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Quantitative Finance For Dummies


Learn the tools for investment success

Use portfolio and risk management applications

Sharpen your skills with useful exercises

Get acquainted with Quantitative Finance

Whether you're an aspiring quant or a hands-on high-level investor, this book makes quantitative finance make sense. It demystifies futures, options, and risk; explains the core models, formulas, and methods; and provides essential mathematical tools. Accessible information and practical exercises prepare you for a successful role in finance!


  • Get a handle on QF models
  • Work with random behaviours
  • Grasp bond jargon
  • Learn how to estimate probability
  • Model interest rates
  • Control risk
  • Forecast like a pro
  • Perfect your portfolio

Steve Bell is a Quantitative Investment Researcher and Director at Research In Action. A highly experienced mathematical and statistical modeller, he is knowledgeable in energy markets and has a particular interest in systematic quantitative trading strategy development at any frequency.

Introduction 1

Part 1: Getting Started with Quantitative Finance 5

CHAPTER 1: Quantitative Finance Unveiled 7

CHAPTER 2: Understanding Probability and Statistics 27

CHAPTER 3: Taking a Look at Random Behaviours 45

Part 2: Tackling Financial Instruments 65

CHAPTER 4: Sizing Up Interest Rates, Shares and Bonds 67

CHAPTER 5: Exploring Options 85

CHAPTER 6: Trading Risk with Futures 99

Part 3: Investigating and Describing Market Behaviour 119

CHAPTER 7: Reading the Market's Mood: Volatility 121

CHAPTER 8: Analysing All the Data 139

CHAPTER 9: Analysing Data Matrices: Principal Components 159

Part 4: Option Pricing 183

CHAPTER 10: Examining the Binomial and Black-Scholes Pricing Models 185

CHAPTER 11: Using the Greeks in the Black-Scholes Model 209

CHAPTER 12: Gauging Interest-Rate Derivatives 223

Part 5: Risk and Portfolio Management 239

CHAPTER 13: Managing Market Risk 241

CHAPTER 14: Comprehending Portfolio Theory 257

CHAPTER 15: Measuring Potential Losses: Value at Risk (VaR) 275

Part 6: Market Trading and Strategy 291

CHAPTER 16: Forecasting Markets 293

CHAPTER 17: Fitting Models to Data . 313

CHAPTER 18: Markets in Practice 329

Part 7: The Part of Tens 345

CHAPTER 19: Ten Key Ideas of Quantitative Finance 347

CHAPTER 20: Ten Ways to Ace Your Career in Quantitative Finance 355

Glossary 361

Index 369