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Jul 24, 2017 at 21:59 comment added Patty I know this is old, but doesn't Juan mean to divide each $\epsilon$ by $dt$, not times? Since each error is $N(0,\sigma^2 dt)$ we should be correcting for this by division, surely?
Apr 1, 2015 at 15:36 comment added Juan Ignacio Gil After reading Richard's answer I've done a small edition in mine: each $\epsilon$ has to be multiplied by its $dt$ (especially if not all the $dt$ in your data are equal) to get the right volatility (the result would be in the units you are measuring $dt$)
Apr 1, 2015 at 15:32 history edited Juan Ignacio Gil CC BY-SA 3.0
added 3 characters in body
Apr 1, 2015 at 11:07 history answered Juan Ignacio Gil CC BY-SA 3.0