Rmetrics is a

free Free may refer to: Concept * Freedom, having the ability to do something, without having to obey anyone/anything * Freethought, a position that beliefs should be formed only on the basis of logic, reason, and empiricism * Emancipate, to procur ...

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

and

open development Open or OPEN may refer to: Music * Open (band), Australian pop/rock band * The Open (band), English indie rock band * ''Open'' (Blues Image album), 1969 * ''Open'' (Gotthard album), 1999 * ''Open'' (Cowboy Junkies album), 2001 * ''Open'' (YF ...

software project 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, '' tp://nozdr.ru/biblio/kolxo3/F/FN/Seydel%20R.U.%20Tools%20for%20Computational%20Finance%20(4ed.,%20Springe ...

. Rmetrics is based primarily on the

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

R programming language, but does contain contributions in other programming languages, 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 may refer to: * the adjectival form of Switzerland *Swiss people ...

in Zurich.

Rmetrics packages

Most Rmetrics components are distributed as

R packages R packages are extensions to the R statistical programming language. R packages contain code, data, and documentation in a standardised collection format that can be installed by users of R, typically via a centralised software repository such as ...

, 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 data, as in design and manufacture, ...

methods for the analysis of market data and risk management in finance. * to provide a common software platform that enables the rapid development and deployment of

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 by adding resources to the system. In an economic context, a scalable business model implies that a company can increase sales given increased resources. For example, a ...

, 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 defi ...

software. * to strengthen the 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.

R/Rmetrics project

Rmetrics and the R package system provides a broad range of advantages to the Rmetrics project including: * a high-level interpreted language in which one can easily and quickly

prototype A prototype is an early sample, model, or release of a product built to test a concept or process. It is a term used in a variety of contexts, including semantics, design, electronics, and Software prototyping, software programming. A prototyp ...

new computational methods. * It includes a well established system for packaging together software components and documentation. * It can address the diversity and complexity of

and financial engineering problems in a common object-oriented framework. * It supports a rich set of statistical

simulation A simulation is the imitation of the operation of a real-world process or system over time. Simulations require the use of Conceptual model, models; the model represents the key characteristics or behaviors of the selected system or proc ...

and modeling activities. * It contains cutting edge data and model visualization capabilities. * It has been the basis for pathbreaking research in parallel statistical computing.

Open source commitment

The Rmetrics project has a commitment to full open source discipline, with distribution via a

SourceForge.net SourceForge is a web service that offers software consumers a centralized online location to control and manage open-source software projects and research business software. It provides source code repository hosting, bug tracking, mirroring ...

-like platform. All software contributions are expected to exist under an

open source license An open-source license is a type of license for computer software and other products that allows the source code, blueprint or design to be used, modified and/or shared under defined terms and conditions. This allows end users and commercial compan ...

such as

GPL2 The GNU General Public License (GNU GPL or simply GPL) is a series of widely used free software licenses that guarantee end users the four freedoms to run, study, share, and modify the software. The license was the first copyleft for general us ...

, Artistic 2.0, or

BSD The Berkeley Software Distribution or Berkeley Standard Distribution (BSD) is a discontinued operating system based on Research Unix, developed and distributed by the Computer Systems Research Group (CSRG) at the University of California, Berk ...

. There are many different reasons why open—source software is beneficial to a software project in finance. The reasons include: * To provide full access to

algorithm In mathematics and computer science, an algorithm () is a finite sequence of rigorous instructions, typically used to solve a class of specific Computational problem, problems or to perform a computation. Algorithms are used as specificat ...

s and their implementation * * To facilitate software improvements through bug fixing and software extension ** * To encourage good scientific computing and statistical practice by providing appropriate tools and instruction * To provide a workbench of tools that allow 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 Reproducibility, also known as replicability and repeatability, is a major principle underpinning the scientific method. For the findings of a study to be reproducible means that results obtained by an experiment or an observational study or in a ...

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, 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