A singular value decomposition entropy approach to assess the impact of Covid-19 on the informational efficiency of the WTI crude oil market

This work investigates the impact of the Covid-19 outbreak on crude oil market efficiency. The approach is based on the singular value decomposition (SVD) entropy. Iso-distributional surrogate data test was used to contrast the results against random patterns, and phase randomization based on Fourier transform was used to assess nonlinearities. The analysis considered the WTI market and focused on the Covid-19 pandemic period January 2020-November 2021 and contrasted with the long preceding period from January 2000 to date. It was found that the crude oil market was informationally efficient most of the time with small sporadic deviations from efficiency in the pre-Covid-19 years. The Covid-19 period exhibited the largest deviations from efficiency, mainly in the first months of the outbreak, accompanied by a marked reduction of nonlinear components. The analysis was conducted for different scales, and the results showed that the deviations from efficiency were more pronounced for quarterly scales. For the sake of comparison, the analysis was also carried out on the trading volume dynamics and the results showed that the market activity is not fully random. The dynamics of the trading volume exhibited significant deviations from the randomness behavior when the crude oil market was efficient, and a behavior that was consistent with nonlinear patterns. The opposite behavior was noted for stages when the crude oil market showed strong deviations from efficiency. Overall, the findings of this study suggest an increasing opportunity for crude oil price predictions and abnormal returns during the Covid-19 pandemic.

A fractal scaling analysis of the SARS-CoV-2 genome sequence

An approach based on fractal scaling analysis to characterize the organization of the SARS-CoV-2 genome sequence was used. The method is based on the detrended fluctuation analysis (DFA) implemented on a sliding window scheme to detect variations of long-range correlations over the genome sequence regions. The nucleotides sequence is mapped in a numerical sequence by using four different assignation rules: amino-keto, purine-pyrimidine, hydrogen-bond and hydrophobicity patterns. The originally reported sequence from Wuhan isolates (Wuhan Hu-1) was considered as a reference to contrast the structure of the 2002-2004 SARS-CoV-1 strain. Long-range correlations, quantified in terms of a scaling exponent, depended on both the mapping rule and the sequence region. Deviations from randomness were attributed to serial correlations or anti-correlations, which can be ascribed to ordered regions of the genome sequence. It was found that the Wuhan Hu-1 sequence was more random than the SARS-CoV-1 sequence, which suggests that the SARS-CoV-2 possesses a more efficient genomic structure for replication and infection. In general, the virus isolated in the early 2020 months showed slight correlation differences with the Wuhan Hu-1 sequence. However, early isolates from India and Italy presented visible differences that led to a more ordered sequence organization. It is apparent that the increased sequence order, particularly in the spike region, endowed some early variants with a more efficient mechanism to spreading, replicating and infecting. Overall, the results showed that the DFA provides a suitable framework to assess long-term correlations hidden in the internal organization of the SARS-CoV-2 genome sequence.

Effects of dry heat treatment temperature on the structure of wheat flour and starch in vitro digestibility of bread

The effects of the dry heat treatment (DHT) temperature (20, 50, 100, 150, 200 °C) on the structure of wheat flour and on the texture and in vitro starch digestibility of breads were investigated. X-ray diffraction and FTIR showed that increasing temperatures produced reduction of the hydrated starch structures, increased crystallinity and molecular order of starch chains, and had important effects on the gluten secondary structure. High treatment temperatures produced significant reductions in rapidly digestible starch (RDS) (53.21% at 20 °C, 22.24% at 200 °C), and the slowly digestible starch fraction tended to increase (26.12% at 20 °C, 31.48% at 200 °C). On the other hand, bread hardness showed a significant increase from 11.25 N at 20 °C to 49.53 N at 200 °C, the latter value being similar to that reported for bread crusts. Principal component analysis results showed that the flour and bread characteristics were drastically changed by the DHT, with 100 °C representing a critical temperature. Below 100 °C, breads showed textural characteristics close to that of the control bread, with reduced RDS fractions, while at temperatures above 100 °C, hardness was boosted.

Thermodynamic criteria analysis for the use of taro starch spherical aggregates as microencapsulant matrix

Spherical aggregates can be obtained from taro starch by spray-drying without using bonding agents. Accurate information about thermal issues of spherical aggregates can provide valuable information for assessing the application as encapsulant. Spherical aggregates of taro starch were obtained by spray-drying and analyzed using dynamic vapour sorption. The use of the Guggenheim, Anderson and de Boer (GAB) model indicated a Type II isotherm pattern with weaker interactions in the multilayer region. Differential enthalpy and entropy estimates reflected a mesoporous microstructure, implying that energetic mechanisms dominate over transport mechanisms in the sorption process. The limitation by energetic mechanisms was corroborated with enthalpy-entropy compensation estimates. The diffusivity coefficient was of the order of 10^-8 m²·s^-1, which is in line with results obtained for common materials used for encapsulation purposes. The thermodynamic properties and the lack of a bonding agent indicated the viability of spherical aggregates of taro starch for encapsulation of biocompounds.

Effect of the degree of substitution of octenyl succinic anhydride-banana starch on emulsion stability

Banana starch was esterified with octenylsuccinic anhydride (OSA) at different degree substitution (DS) and used to stabilize emulsions. Morphology, emulsion stability, emulsification index, rheological properties and particle size distribution of the emulsions were tested. Emulsions dyed with Solvent Red 26 showed affinity for the oil phase. Backscattering light showed three regions in the emulsion where the emulsified region was present. Starch concentration had higher effect in the emulsification index (EI) than the DS used in the study because similar values were found with OSA-banana and native starches. However, OSA-banana presented greater stability of the emulsified region. Rheological tests in emulsions with OSA-banana showed G'>G" values and low dependence of G' with the frequency, indicating a dominant elastic response to shear. When emulsions were prepared under high-pressure conditions, the emulsions with OSA-banana starch with different DS showed a bimodal distribution of particle size. The emulsion with OSA-banana starch and the low DS showed similar mean droplet diameter than its native counterpart. In contrast, the highest DS led to the highest mean droplet diameter. It is concluded that OSA-banana starch with DS can be used to stabilize specific emulsion types.

In vitro digestibility, physicochemical, thermal and rheological properties of banana starches

Banana starches (BS) were isolated from Enano, Morado, Valery and Macho cultivars. The BS possessed B-type crystallinity and an amylose content varying from 19.32 to 26.35%. Granules had an oval morphology with different major-to-minor axis ratios, exhibiting both mono- and bi-modal distributions and mean particle sizes varying from 32.5 to 45 μm. BS displayed zeta-potential values ranging between -32.25 and -17.32 mV, and formed gels of incipient to moderate stability. The enthalpy of gelatinization of BS affected the crystalline order stability within the granules. In-vitro digestibility tests showed fractions as high as 68% of resistant starch. Rheological oscillatory tests at 1 Hz showed that BS dispersions (7.0%, w/w) exhibited Type III behaviour, attributed to the formation of a continuous phase complex three-dimensional amylose gel reinforced by swollen starch granules acting as fillers. Amylose content and granules morphology were the main factors influencing the BS properties.