Rmetrics is a free and

open-source Open source is source code that is made freely available for possible modification and redistribution. Products include permission to use and view the source code, design documents, or content of the product. The open source model is a decentrali ...

software project designed for teaching

computational finance Computational finance is a branch of applied computer science that deals with problems of practical interest in finance.Rüdiger U. Seydel, ''Tools for Computational Finance'', Springer; 3rd edition (May 11, 2006) 978-3540279235 Some slightly diff ...

. Rmetrics is based primarily on the

statistical Statistics (from German language, German: ', "description of a State (polity), state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. In applying statistics to a s ...

R programming language R is a programming language for statistical computing and data visualization. It has been widely adopted in the fields of data mining, bioinformatics, data analysis, and data science. The core R language is extended by a large number of so ...

, but does contain contributions in other programming languages, such as Fortran, C, and C++. The project was started in 2001 by Diethelm Wuertz, based at the

Swiss Federal Institute of Technology The Swiss Federal Institutes of Technology are two institutes of higher education in Switzerland (part of the ETH Domain): * Swiss Federal Institute of Technology in Lausanne Swiss most commonly refers to: * the adjectival form of Switzerland *Sw ...

Zurich Zurich (; ) is the list of cities in Switzerland, largest city in Switzerland and the capital of the canton of Zurich. It is in north-central Switzerland, at the northwestern tip of Lake Zurich. , the municipality had 448,664 inhabitants. The ...

Rmetrics packages

Most Rmetrics components are distributed as R packages, which are add-on modules for R.

Goals

The broad goals of the projects are: * To provide widespread access to a broad range of powerful

and

graphical Graphics () are visual images or designs on some surface, such as a wall, canvas, screen, paper, or stone, to inform, illustrate, or entertain. In contemporary usage, it includes a pictorial representation of the data, as in design and manufactu ...

methods for the analysis of market data and risk management in finance. * To provide a common

software platform A computing platform, digital platform, or software platform is the infrastructure on which software is executed. While the individual components of a computing platform may be obfuscated under layers of abstraction, the ''summation of the requi ...

that enables the rapid

development Development or developing may refer to: Arts *Development (music), the process by which thematic material is reshaped * Photographic development *Filmmaking, development phase, including finance and budgeting * Development hell, when a proje ...

and

deployment Deployment may refer to: * Military deployment, the movement of armed forces and their logistical support * Software deployment, all of the activities that make a software system available for use * System deployment The deployment of a mecha ...

extensible Extensibility is a software engineering and systems design principle that provides for future growth. Extensibility is a measure of the ability to extend a system and the level of effort required to implement the extension. Extensions can be th ...

scalable Scalability is the property of a system to handle a growing amount of work. One definition for software systems specifies that this may be done by adding resources to the system. In an economic context, a scalable business model implies that ...

, and

interoperable Interoperability is a characteristic of a product or system to work with other products or systems. While the term was initially defined for information technology or systems engineering services to allow for information exchange, a broader de ...

software. * To strengthen scientific understanding by producing high-quality documentation and reproducible research. * To train researchers on computational and statistical methods for the analysis of financial data and for

financial risk management Financial risk management is the practice of protecting Value (economics), economic value in a business, firm by managing exposure to financial risk - principally credit risk and market risk, with more specific variants as listed aside - as well ...

R/Rmetrics project

Rmetrics provides a high-level interpreted language, as well as data and model visualization capabilities. It allows for

research Research is creative and systematic work undertaken to increase the stock of knowledge. It involves the collection, organization, and analysis of evidence to increase understanding of a topic, characterized by a particular attentiveness to ...

in parallel statistical computing with an

object oriented Object-oriented programming (OOP) is a programming paradigm based on the concept of '' objects''. Objects can contain data (called fields, attributes or properties) and have actions they can perform (called procedures or methods and impleme ...

framework for

, and

financial engineering Financial engineering is a multidisciplinary field involving financial theory, methods of engineering, tools of mathematics and the practice of programming. It has also been defined as the application of technical methods, especially from mathe ...

Open source commitment

The Rmetrics project has a commitment to full open source discipline, with distribution via a SourceForge.net-like platform. All software contributions are expected to exist under an

open source license Open-source licenses are software licenses that allow content to be used, modified, and shared. They facilitate free and open-source software (FOSS) development. Intellectual property (IP) laws restrict the modification and sharing of creative ...

such as GPL2, Artistic 2.0, or

BSD The Berkeley Software Distribution (BSD), also known as Berkeley Unix or BSD Unix, is a discontinued Unix operating system developed and distributed by the Computer Systems Research Group (CSRG) at the University of California, Berkeley, beginni ...

. There are many different reasons why open-source software is beneficial to a software project in finance, including: * To provide full access to

algorithm In mathematics and computer science, an algorithm () is a finite sequence of Rigour#Mathematics, mathematically rigorous instructions, typically used to solve a class of specific Computational problem, problems or to perform a computation. Algo ...

s and their implementation * To facilitate software improvements through bug fixing and software extensions * To encourage good scientific computing and statistical practice by providing appropriate tools and instruction * To provide a workbench of tools that allows researchers to explore and expand the methods used to analyze biological data * To lead and encourage commercial support and development of those tools that are successful * To promote reproducible research by providing open and accessible tools with which to carry out that research (reproducible research is distinct from independent verification) * To encourage users to join the Rmetrics project, either by contributing Rmetrics compliant packages or documentation.

Rmetrics Repository

Th
Rmetrics Repository
is hosted by R-forge. The following developers (in alphabetical order) contribute or have contributed to the Rmetrics packages: Andrew Ellis, Christophe Dutang, David Lüthi, David Scott, Diethelm Würtz, Francesco Gochez, Juri Hinz, Marco Perlin, Martin Mächler, Maxime Debon, Petr Savicky, Philipp Erb, Pierre Chausse, Sergio Guirreri, Spencer Graves, and Yohan Chalabi.

Resources

External links

* {{R (programming language) Financial software Free R (programming language) software Free science software Science software for Linux Science software for macOS Science software for Windows