Doctor of Philosophy candidate
Master of Science with First Class Honours
Bachelor of Science (Honours) with First Class Honours
Bachelor of Science in Applied Mathematics and Computer Science
He has long been fascinated by mathematics, says Gaurav Kapoor who is currently completing a Doctor of Philosophy, supported by a Callaghan Research and Development Fellowship grant.
“I’ve always been intrigued by the nature of mathematics. The field of probability analysis and interpreting the behaviour of random events and time series analysis particularly motivates my interest.
“I decided to pursue postgraduate study in financial mathematics to satisfy my curiosity for the intricacies of this field. I want to perform meaningful research in this area and share my knowledge with others to provide better financial investment strategies.”
Research that matters
For his doctoral research Gaurav is focusing on derivatives of financial instruments, in particular the study of options, their pricing and their behaviour in different market conditions.
“With the surge in popularity of technology and improvements in the financial sector, it’s easier than ever for the public to invest in financial instruments to gain financial independence, whether that is through investments in hedge funds or independent trading through licensed brokers.
“I hope to better understand the investment potential of financial markets through the study of options. Options trading provides a way to hedge against volatility and collapses in the stock market and to minimise potential losses. I use time series analysis and stochastic calculus to model the behaviour of financial instruments to forecast their future trajectory.”
For his PhD Gaurav will be working with a large electricity generator and distributor in New Zealand to create a strategy involving options to help hedge volatility spikes in electricity prices.
His research is supervised by Dr Nuttanan Wichitaksorn, Dr Wenjun Zhang and Professor Jiling Cao.
Freedom and support
Gaurav says he chose to pursue postgraduate study at AUT because of the University’s highly regarded research capabilities.
“For a fairly new university, AUT has earned many accomplishments and respect worldwide. I’ve thoroughly enjoyed working with my supervisors and other academic staff. At AUT, I have the freedom to pursue the research path I feel is relevant to me, and have received tremendous support and resourceful input for my work.”
He would highly recommend AUT’s mathematical sciences programmes, Gaurav says.
“The knowledge you receive here, along with the work and internship opportunities you could have access to thanks to the connections of the academic staff, is an incredible motivator to shape your career in the direction you choose. The programmes are continuously evolving at an impressive pace.”