About

Quant Finance Lab Kagoshima (QFLK) is an independent research initiative focused on volatility dynamics, market structure, and tail risk in financial markets.

The lab explores financial markets through a structural perspective, emphasizing dynamic processes rather than static statistical measures.

Research Focus

The primary research theme is the modeling of volatility as a dynamic state variable.

This includes the development of the Volatility Pressure Index (VPI), a framework that captures the rate of change in variance and its cumulative structure.

Building on this foundation, the Aegis system is proposed as a dynamic risk control framework that adjusts market exposure in response to evolving market conditions.

Author & Founder

Toshiharu Honda is an independent researcher and the founder of Quant Finance Lab Kagoshima (QFLK).

His work focuses on volatility dynamics, risk control systems, and the structural interpretation of financial markets.

He is the author of the Volatility Pressure Index (VPI) and the Aegis risk control framework.

Member of the Japan Association of Financial Econometrics and Engineering (JAFEE).

Independent quantitative research based in Kagoshima, Japan.