Turbulence hierarchy in foreign exchange markets.

We present a multiscale stochastic analysis of foreign exchange rates using the H-theory formalism, which provides a hierarchical intermittency model for the information cascade in the currency market. We examine the distributions of returns and volatilities for the three most traded currency pairs: euro-U.S. dollar, U.S. dollar-Japanese yen, and British pound-U.S. dollar. We find that these markets have a hierarchy of timescales, with larger markets exhibiting more hierarchy levels. We provide a theoretical framework for understanding why the number of levels in the information cascade increases with market size, in analogy with similar behavior for the energy cascade in turbulence as a function of Reynolds number. We briefly argue that using turbulence-like models for financial markets can also provide valuable insights for developing efficient algorithmic trading strategies.

Turbulence Hierarchy and Multifractality in the Integer Quantum Hall Transition.

We offer a new perspective on the problem of characterizing mesoscopic fluctuations in the interplateau regions of the integer quantum Hall transition. We found that longitudinal and transverse conductance fluctuations, generated by varying the external magnetic field within a microscopic model, are multifractal and lead to distributions of conductance increments (magnetoconductance) with heavy tails (intermittency) and signatures of a hierarchical structure (cascade) in the corresponding stochastic process, akin to Kolmogorov's theory of fluid turbulence. We confirm this picture by interpreting the stochastic process of the conductance increments in the framework of H theory, which is a continuous-time stochastic approach that incorporates the basic features of Kolmogorov's theory. The multifractal analysis of the conductance "time series," combined with the H-theory formalism, provides strong support for the overall characterization of mesoscopic fluctuations in the quantum Hall transition as a multifractal stochastic phenomenon with multiscale hierarchy, intermittency, and cascade effects.

Simultaneous evaluation of intermittency effects, replica symmetry breaking and modes dynamics correlations in a Nd:YAG random laser.

Random lasers (RLs) are remarkable experimental platforms to advance the understanding of complex systems phenomena, such as the replica-symmetry-breaking (RSB) spin glass phase, dynamics modes correlations, and turbulence. Here we study these three phenomena jointly in a Nd:YAG based RL synthesized for the first time using a spray pyrolysis method. We propose a couple of modified Pearson correlation coefficients that are simultaneously sensitive to the emergence and fading out of photonic intermittency turbulent-like effects, dynamics evolution of modes correlations, and onset of RSB behavior. Our results show how intertwined these phenomena are in RLs, and suggest that they might share some common underlying mechanisms, possibly approached in future theoretical models under a unified treatment.

Evaluation of Pearson correlation coefficient and Parisi parameter of replica symmetry breaking in a hybrid electronically addressable random fiber laser.

The hybrid electronically addressable random (HEAR) laser is a novel type of random fiber laser that presents the remarkable property of selection of the fiber section with lasing emission. Here we present a joint analysis of the correlations between intensity fluctuations at distinct wavelengths and replica symmetry breaking (RSB) behavior of the HEAR laser. We introduce a modified Pearson coefficient that simultaneously comprises both the Parisi overlap parameter and standard Pearson correlation coefficient. Our results highlight the contrast between the correlations and presence or not of RSB phenomenon in the spontaneous emission behavior well below threshold, replica-symmetric ASE regime slightly below threshold, and RSB phase with random lasing emission above threshold. In particular, in the latter we find that the onset of RSB behavior is accompanied by a stochastic dynamics of the lasing modes, leading to competition for gain intertwined with correlation and anti-correlation between modes in this complex photonic phase.

Evidence of a Floquet Phase in a Photonic System.

The ground breaking extension of the key concept of phase structure to nonequilibrium regimes was only recently achieved in Floquet systems, characterized by a time-dependent quantum Hamiltonian with a periodic driving source. However, despite the theoretical advances, only very few systems are known to display experimental Floquet phases, not one of them employing a laser emission-based mechanism. Here we report the first experimental observation of a Floquet phase in a photonic system, a disordered fiber laser with spatial eigenmode localization. We apply a periodically oscillating cw pumping source that drives the random couplings of the Floquet Hamiltonian. A photonic Floquet spin-glass phase is demonstrated in the random-lasing regime by extensive measurements of the Parisi overlap parameter and asymmetry properties of its distribution. In contrast, in the fluorescent regime below threshold, the absence of mode localization prevents the stabilization of a Floquet phase. Our results are nicely described by theoretical arguments.

Coexistence of turbulence-like and glassy behaviours in a photonic system.

Coexistence of physical phenomena can occur in quite unexpected ways. Here we demonstrate the first evidence in any physical system of the coexistence in the same set of measurements of two of the most challenging phenomena in complex systems: turbulence and spin glasses. We employ a quasi-one-dimensional random fibre laser, which displays all essential ingredients underlying both behaviours, namely disorder, frustration and nonlinearity, as well as turbulent energy cascades and intermittent energy flux between fluctuation scales. Our extensive experimental results are theoretically supported by a newly defined photonic Pearson correlation coefficient that unveils the role of the intermittency and describes remarkably well both the spin-glass Parisi overlap parameter and the distribution of turbulent-like intensity increments. Our findings open the way to unravel subtle connections with other complex phenomena, such as disordered nonlinear wave propagation, Lévy statistics of intensity fluctuations, and rogue waves.