The science of risk management has become an indispensable component of business, particularly for financial institutions such as commercial and investment banks and insurance and reinsurance companies. The Department plays a leading role in risk management science education and research in Hong Kong. Research topics include but not limited to: option pricing, credit risk modeling, actuarial science, financial objective optimization, and volatility modeling in financial time series.
The Department develops methodology and techniques for statistical learning from big data, including but not limited to genomic data, clinical data, financial data, insurance data, and transportation data.
In collaborations with the Faculty of Medicine and School of Life Sciences, we research in areas like: genome-wide association studies for diabetes and cancer, copy number variation in cancer, gene network inference, sequence pattern detection, embryonic gene expression analysis, protein structure prediction, evolution modeling, clinical study design and analysis.
We conduct fundamental statistical research related to theory and applications. Focus areas include but not limited to: high dimensional statistical inference, asymptotic theory, Bayesian inference, functional data analysis, longitudinal models, nonparametric methods, structural equation models, applied probability and stochastic analysis, financial modeling, time series analysis, and machine learning.
Statistical inferences are drawn from diverse social science data sources coming from large surveys on educational and psychological experiments.
Statistics has become an important tool in a variety of quantitative fields, including biological and life sciences, medical science, finance, marketing, computer engineering, education and social science. The Department welcomes research collaborations with other faculties and departments.
The Department of Statistics strives to conduct leading-edge research with diverse research areas including statistical finance and risk management science, statistical theory and methodology, big data, biostatistics and bioinformatics, and other areas of cross-disciplinary research. The effort of our faculty members in transforming ideas and research findings into applications in life is demonstrated by the impact showcases below.
CHAN, Kin Wai (Keith), Assistant Professor
His research interests include: Time Series, Missing Data, Multiple Imputation, Multi-phase Inference, Nonparametric Methods, and Covariance Matrix Estimation.
CHAN, Ngai Hang, Choh-Ming Li Professor of Statistics
His research interests include: Time Series, Finance and Econometrics, Risk Management and Statistical Finance, Oceanography, Inference for Stochastic Processes.
CHAN, Ping Shing, Associate Professor
His research interests include: Order Statistics, Analysis of Censored Data, Robustness.
DAI, Ben, Assistant Professor
His research interests include: Statistical Machine Learning, Recommender Systems and Ranking, Deep Learning.
FAN, Xiaodan, Professor
He is interested in statistical modeling and computing (including Bayesian inference, Monte Carlo method, Markov chain, hierarchical model, model selection), computational biology / bioinformatics (including comparative genomics, motif discovery, gene regulatory network, genetics, cell cycle, microarray data analysis, meta-analysis), and pattern recognition & classification methods.
FANG, Xiao, Assistant Professor
His research interests include: Stein’s Method for Probability Approximations, Change-Point Analysis, Asymptotic Theory in Probability and Statistics.
HAN, Ruijian, Research Assistant Professor
His research interests focus primarily in the areas of Statistical Machine Learning, Graphical Model, High dimensional Inference and Adaptive Learning.
LIN, Yuanyuan, Associate Professor
Her research interests include: Statistical Machine Learning, High Dimensional Inference and Semiparametric Inference.
LIN, Zhixiang, Assistant Professor
His research interests include: Statistical Machine Learning, Big data, Bayesian Statistics, Computational Biology & Bioinformatics.
POON, Wai Yin, Isabella, Professor
Her research interests include: Structural Equation Models, Marketing Research, Ranking Data, Influence Analysis, Categorical Data.
SIT, Tony, Associate Professor
His research interests lie primarily in the areas of Life-time Data Analysis, Semiparametric Inference, Network Modelling and Risk Management and Statistical Finance.
SONG, Xin Yuan, Department Chair
Her research interests include: Latent variable models, Bayesian method, Statistical computing, Nonparametric and semiparametric methods, Survival analysis, Statistical diagnostics.
WEI, Yingying, Associate Professor
Her research interests include: statistical genomics, big data, data integration, Bayesian statistics.
WONG, Hoi Ying, Professor
His research interests include: Derivatives Pricing, Interest Rate Modelling, Financial Risk Analysis.
YAM, Phillip, Professor
His research interests include: Actuarial and Financial Mathematics, Probability Theory and Stochastic Analysis, Rough Path Theory Nonlinear Control Theory, Asymptotic Theory in Statistics.
YAU, Chun Yip, Associate Professor
His research interests include: Time Series, Change-Point Analysis, Composite Likelihood Inference, Spatial Statistics, Environmental Statistics.
ZHU, Huichen, Research Assistant Professor
Her research interests focus mainly on Quantile Regression and Statistical Machine Learning.
The following tables list main external grants of our department awarded during the recent 10 years.
|Funding Year||Principal Investigator||Project Title|
|2022||Prof. Chan, Kin-wai||On Stationarity Tests: Efficiency, Optimality, Interpretability and Generality|
|2022||Prof. Dai, Ben||A Statistical Perspective on Discriminative Feature Localization|
|2022||Prof. Fang, Xiao||High-dimensional Central Limit Theorems by Stein’s Method|
|2022||Prof. Song, Xin Yuan||Tree- and Machine Learning-based Causal Mediation Analysis Adaptive to Heterogeneity and Survival Data|
|2022||Prof. Wang, Junhui||A statistical framework for structure-preserving embedding of signed networks|
|2022||Prof. Wong, Hoi-ying||Robust Duality with Optimal Stopping|
|2021||Prof. Chan, Kin-wai||General and Superoptimal Recursive Estimators of Time-average Variance Constant|
|2021||Prof. Chan, Ngai-hang||Statistical Modeling of Big Data Networks|
|2021||Prof. Fang, Xiao||Asymptotic Expansions of Expectations by Stein’s Method|
|2021||Prof. Han, Ruijian||Statistical Analysis of Ranking Data in Large-scale Networks|
|2021||Prof. Sit, Tony||On Efficiency of Censored Quantile Regression|
|2021||Prof. Wei, Yingying||Statistical Methods for Multi-Ethnic Genome-Wide Association Studies|
|2021||Prof. Yam, Phillip, Sheung-Chi||General Theory for Infinite Dimensional Stochastic Control: Mean Field and Some Classical Problems|
|2021||Prof. Yau, Chun-yip||Threshold Modeling in Functional Time Series|
|2020||Prof. Chan, Kin-wai||A General Framework: Difference-based Variance Estimators|
|2020||Prof. Lin, Yuanyuan||Semiparametric and Nonparametric Inference of Survival Data|
|2020||Prof. Lin, Zhixiang||Statistical Methods for Dimension Reduction in Single-cell Genomics Leveraging Bulk Genomic Data|
|2020||Prof. Sit, Tony||Challenges in Censored Quantile Regression: Time-dependent Covariates, Heterogeneity and Distributed Systems|
|2020||Prof. Song, Xinyuan||Extended Transformation Mean Residual Life Models and New Inference Approaches|
|2020||Prof. Wei, Yingying||Fine-Scale Inference for Aggregate-Level DNA Methylation Data|
|2019||Prof. Chan, Kin-wai||Multiple Incompatibility Problems in Multiple Imputation Procedures|
|2019||Prof. Fan, Xiaodan||Consistent Model-free Ultra-high Dimensional Variable Selection for Binary Response|
|2019||Prof. Lin, Yuanyuan||Statistical Analysis of Distributed Case-control Studies|
|2019||Prof. Lin, Zhixiang||A Unified Framework for Jointly Modeling and Clustering Multiple Data Types in Single-cell Genomics|
|2019||Prof. Song, Xinyuan||Joint Modeling of Zero-inflated and Partially Ordered Data with Latent Variables|
|2019||Prof. Wei, Yingying||Statistical Methods for Estimating a Set of Phylogenetic Trees|
|2019||Prof. Yam, Phillip, Sheung-chi||Shape-constrained Inference: Testing for Monotonicity|
|2019||Prof. Yau, Chun-yip||Predicting Future Change-points in Time Series|
|2018||Prof. Chan, Ngai-hang||Inference for Multiple Change-Points of High-Dimensional Time Series|
|2018||Prof. Fang, Xiao||Cramér-Type Moderate Deviations by Stein’s Method|
|2018||Prof. Poon, Wai-yin||Adaptive Treatment Allocation Strategies in Clinical Studies with Survival and Categorical Data|
|2018||Prof. Sit, Tony||Censored Quantile Regression with Time-dependent Covariates and Other Extensions|
|2018||Prof. Song, Xinyuan||Bayesian Scalar- and Latent Factor-on-image Regression with Nonignorable Nonresponses|
|2018||Prof. Wei, Yingying||Bayesian Methods for Time-to-event Data on a Social Network|
|2017||Prof. Fan, Xiaodan||Automatic Detection of Differentially Methylated Regions Based on Array or Sequencing Data|
|2017||Prof. Fang, Xiao||Kolmogorov Bounds for Normal and Non-normal Approximations|
|2017||Prof. Shao, Qiman||Deep Study of Stein’s Method|
|2017||Prof. Song, Xinyuan||Semiparametric Hidden Markov Latent Variable Models for the Analysis of Multivariate Longitudinal Data|
|2017||Prof. Wei, Yingying||Bayesian Graph-valued Regression|
|2017||Prof. Yam, Phillip, Sheung-chi||New Kinds of Forward-backward Stochastic Systems with Applications|
|2017||Prof. Yau, Chun-yip||Locally Asymptotic Minimax Estimator of Long-run Covariance Matrix|
|2016||Prof. Chan, Ngai-hang||Prediction Perspectives of Nearly Non-Stationary Processes|
|2016||Prof. Cheung, Siu-hung||Response-adaptive Designs in Non-inferiority Clinical Trials|
|2016||Prof. Lin, Yuanyuan||Statistical inference for Quantile Regression: Nearly Semiparametric Efficient Estimation and Flexible Composite Quantile Regression|
|2016||Prof. Sit, Tony||On Censored Quantile Regression|
|2016||Prof. Wei, Yingying||Statistical Modeling for Heterogeneous Dynamic Transcription Factor Networks|
|2015||Prof. Chan, Ping-shing||Statistical Inference and Optimal Design of System-Based Reliability Experiments|
|2015||Prof. Fan, Xiaodan||Bayesian Integrative Clustering for Combining Vectorial Data and Network Data|
|2015||Prof. Shao, Qiman||Asymptotic Theory of Mean field Spin Glass Models|
|2015||Prof. Song, Xinyuan||Regression Analysis of Mean Residual Life Models with Latent Variables|
|2015||Prof. Wong, Hoi-ying||High Dimensional Dynamic Portfolio Selection|
|2015||Prof. Yam, Phillip, Sheung-chi||Advance in Mean Field Theory|
|2015||Prof. Yau, Chun-yip||Inference for Multiple Change-points in Time Series|
|2014||Prof. Chan, Ngai-hang||High-dimensional Regressions of Change-point Estimation in Time Series|
|2014||Prof. Cheung, Siu-hung||Non-inferiority Clinical Trials with Multiple Experimental Treatments|
|2014||Prof. Sit, Tony||A Unified Approach to Semiparametric Accelerated Failure Time Models under General Biased Sampling Schemes|
|2014||Prof. Song, Xinyuan||Development of Bayesian Local Inference Methods and Related Computer Programs for Advanced Structural Equation Models|
|2013||Prof. Chan, Ngai-hang||Statistical Inference for Nonstationary Time Series|
|2013||Prof. Fan, Xiaodan||Bayesian Model-based Clustering of the Conformational Space of Biomolecules|
|2013||Prof. Lin, Yuanyuan||Statistical Inference for Relative Error-based Regression: Estimation and Model Selection|
|2013||Prof. Shao, Qiman||Multiple Hypothesis Testing and Theory of Moderate Deviations|
|2013||Prof. Yau, Chun-yip||Efficient Estimation in Multiple-regime Threshold Models|
|2012||Prof. Cheung, Siu-hung||Adaptive Treatment Allocation Schemes using Urn Models in Clinical Studies|
|2012||Prof. Poon, Wai-yin||A Unified Location-scale-family Modeling Approach for Multiple Group Analysis with Ordinal Responses|
|2012||Prof. Yam, Phillip, Sheung-chi||Advanced Topics In Multivariate Risk Management In Finance and Insurance|
|2012||Prof. Yau, Chun-yip||Change-point Estimation in Complicated Stochastic Systems|
|2011||Prof. Song, Xinyuan||Transformation Structural Equation Models for Analyzing Highly Non-normal Data|
|2011||Prof. Wong, Hoi-ying||Applications and Theories of Co-integration Dynamics for Financial Mathematics|
|2010||Prof. Chan, Ngai-hang||Empirical Likelihood and Jacknife Methods for Time Series|
|2010||Prof. Chan, Ping-shing||Progressively Hybrid Censoring Schemes|
|2010||Prof. Cheung, Siu-hung||Power, Correct Decision and Sample Size Determination in Multiple Testing|
|2010||Prof. Shao, Qi-Man||Normal and Non-normal Approximation by Stein’s Method|
|2009||Prof. Fan, Xiaodan||Bayesian Data Integration Approach for Cell-Cycle Gene Network Inference|
|2009||Prof. Lee, Sik-yum||Developments of Nonparametric Structural Equation Models and Related Computer Programs|
|2009||Prof. Song, Xinyuan||Inference for DTARCH and FARCH Models Based on Composite Weighted Quantile Regression|
|2009||Prof. Wong, Po-shing||Credit Risk Bucketing with Fixed Zones of Probability of Default|
|2009||Prof. Yam, Phillip, Sheung-chi||What is the Right Time to Sell a Stock?|
|2008||Prof. Chan, Ngai-hang||Statistical Inference for Heavy-tailed and Long-memory Time Series|
|2008||Prof. Chan, Ping-shing||Optimal Sample Size Allocation in Extreme-value Regression|
|2008||Prof. Cheung, Siu-hung||Statistical Inference and Testing for Covariate-adjusted Response-adaptive Designs|
|2008||Prof. Song, Xinyuan||Bayesian Analysis for Mixture of Structural Equation Models with Covariates and Missing Data|
|2008||Prof. Wong, Hoi-ying||American Option Pricing under CEV|
|2008||Prof. Wong, Po-shing||Biostatistical Applications of Monotone Splines Mixed Effects Modeling|
|2008||Prof. Yam, Phillip, Sheung-chi||Application of Theory of Rough Paths to Some Issues in Geometry|
|2007||Prof. Lee, Sik-yum||Semiparametric Methods and Computer Programs for Analyzing Latent Variable Models with Nonnormal Data from Highly Skewed, Heavy-tailed and/or Heterogeneous Distributions|
|2007||Prof. Song, Xinyuan||Development of Dynamic Statistical Models and Computing Programs for Analyzing Longitudinal Multivariate Data with Continuous, Discrete, and Missing Components|
|2007||Prof. Wu, Eden Ka-ho||Nonlinear Benchmarking and Survey Error Modeling|
|2006||Prof. Chan, Ngai-hang||Empirical Likelihood Methods for Heteroscedastic Time Series|
|2006||Prof. Poon, Wai-yin||Analysis of Ordinal Categorical Data with Misclassification|
|2006||Prof. Wong, Hoi-ying||Embedded Options in Insurance Contracts with Stochastic Interest Rate and Volatility|
|Funding Year||Principal Investigator (Role)||Fund Category: Project Title|
|2022||Prof. Fan, Xiaodan (Co-I)||Detection and Functional Study of Genetic Structure Variations in Familial Breast Cancer using the Third Generation Sequencing Technology (Project Coordinator: Prof Yu, Weichuan (HKUST)|
|2018||Prof. Song, Xinyuan (Co-I)||National Natural Science Foundation of China:
Likelihood-based Inference of Parametric and Semiparametric Models
|2017||Prof. Song, Xinyuan (Co-I)||National Natural Science Foundation of China:
Bayesian Joint Modeling for Interval Censored Data with Latent Variables
|2017||Prof. Yau, Chun-yip (PI)||Data-driven Evaluation of Used Cars|
|2016||Prof. Fan, Xiaodan (Co-PI)||Theme-based Research Scheme:
Gastric Cancer Genomics and Beyond – Moving from Patient Samples to 3D Organoid Cultures for Integrative Genomics Analysis, Drug Sensitivity Assays, Cell Biological Studies and Animal Models
|2015||Prof. Shao, Qiman (PI)||Croucher Conference:
4th Institute of Mathematical Statistics – Asia Pacific Rim Meeting (IMS-APRM)
|2015||Prof. Song, Xinyuan (PI)||National Natural Science Foundation of China:
Nonparametric Bayesian Analysis of Transformation Structural Equation Models
|2013||Prof. Chan, Ngai-hang (Co-I)||Collaborative Research Fund:
Syndromic Surveillance and Modeling for Infectious Diseases
|2013||Prof. Cheung, Siu-hung (PI)||Hong Kong Academy for Gifted Education:
Intermediate Statistics: Survey Sampling and Data Analysis
|2013||Prof. Fan, Xiaodan (Co-I)||Theme-based Research Scheme:
An Integrated Trans-omics Approach to Diabetic Cardio-renal Complications: From Novel Discoveries to Personalized Medicine
|2012||Prof. Poon, Wai-yin (Co-I)||Education Bureau:
Programme for International Student Assessment 2015 in Hong Kong
|2010||Prof. Fan, Xiaodan (Co-I)||Innovation and Technology Fund (ITF) Grant:
Developing a Platform to Deliver Personalized Healthcare Using Genotype-based Risk Algorithms to Predict Diabetes and Diabetic Complications
|2009||Prof. Chan, Ngai-hang (Co-I)||Collaborative Research Fund:
Self-cognizant Prognostics for Electronics-rich Systems
|2009||Prof. Fan, Xiaodan (Co-I)||UGC Areas of Excellence Scheme:
Institute of Network Coding
|2009||Prof. Wong, Po-shing (Co-I)||Health and Health Services Research Fund:
Establish Spirometric Reference Standards for Preschool Children in Hong Kong
|2007||Prof. Song, Xinyuan (Co-I)||Health, Welfare & Food Bureau-Research Fund for the Control of Infections Diseases (RFCID):
Examination of Inter-relationships between Chronic Hepatitis B Viral Infection and Genotypes Pathways on Cardiovascular and Renal Complications in HK Type 2 Diabetes Patients Using Novel Structural Equation Models
Faculty Position in Editorial Board of International Journals.
|2003 to present||Managing Editor||International Journal of Theoretical and Applied Finance|
|2013 to present||Co-Editor||Journal of Time Series Analysis|
|2014 to present||Co-Editor||Journal of Forecasting|
|2002 to present||Associate Editor||Journal of the American Statistical Association|
|2005 to present||Associate Editor||Statistica Sinica|
|2006 to present||Associate Editor||Electronic Journal of Statistics|
|2018 to present||Associate Editor||Sankhya|
|2012 to 2018||Associate Editor||Journal of Business and Economic Statistics|
|2010 to 2012||Associate Editor||Bernoulli|
|1991 to 2011||Associate Editor||Econometric Theory|
|2009 to 2012||Associate Editor||Journal of Time Series Analysis|
|1999 to 2013||Associate Editor||Journal of Forecasting|
|2006 to 2010||Associate Editor||Journal of Japanese Statistical Society|
|1996 to 2005||Associate Editor||Communications in Statistics A and B|
|Associate Editor||Communications in Statistics – Theory and Methods|
|Associate Editor||Communications in Statistics – Simulation and computation|
|2020 to Present||Editorial Board Reviewer||Journal of Machine Learning Research|
|2012-07 to present||Associate Editor||Journal of Computational and Graphical Statistics|
|2015-04 to present||Editorial Board Member||Frontiers in Bioinformatics and Computational Biology|
|2014 to 2018||Guest Editor||IEEE/ACM Transactions on Computational Biology and Bioinformatics|
|2021-05 to present||Invited Editor||Quantitative Biology|
|2021 to present||Associate Editor||Journal of Forecasting|
|2022 to present||Associate Editor||Electronic Journal of Statistics|
|2011 to present||Associate Editor||Psychometrika|
|2014 to present||Associate Editor||Structural Equation Modeling: A Multidisciplinary Journal|
|2014 to present||Associate Editor||Computational Statistics & Data Analysis|
|2014 to present||Associate Editor||Computational and Mathematical Methods in Medicine|
|2017 to present||Associate Editor||Journal of the Korean Statistical Society|
|2017 to present||Associate Editor||Statistical Theory and Related Fields|
|2014 to 2016||Associate Editor||Biometrics|
|2019 to 2021||Associate Editor||The Canadian Journal of Statistics|
|2009 to 2016||Associate Editor||Frontiers in Quantitative Psychology and Measurement|
|2019 to present||Associate Editor||Journal of Computational and Graphical Statistics|
|2019 to present||Associate Editor||Statistics in Biosciences|
|2016 to present||Associate Editor||SIAM Journal on Financial Mathematics|
|2005 to present||Associate Editor||International Journal of Theoretical and Applied Finance|
|2017 to present||Associate Editor||Risks — Open Access Risk Management Journal|
|2017 to present||Associate Editor||Journal of Industrial & Management Optimization|
|2018 to present||Associate Editor||Insurance: Mathematics and Economics|
|2020 to present||Associate Editor||Mathematics (MDPI)|
|2010 to present||Associate Editor||IAENG International Journal of Applied Mathematics|
|Associate Editor||Journal of Time Series Analysis|
|Associate Editor||International Journal of Mathematics and Statistics|