{"bundle_type":"pith_open_graph_bundle","bundle_version":"1.0","pith_number":"pith:2025:3MDW32223J6KLLJPAA5Z4RG67J","short_pith_number":"pith:3MDW3222","canonical_record":{"source":{"id":"2504.05743","kind":"arxiv","version":2},"metadata":{"license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.PM","submitted_at":"2025-04-08T07:21:40Z","cross_cats_sorted":[],"title_canon_sha256":"f5392f6b6f27549f02322cbc576d4bfd3b7d66bfbe648007d23edb847d59db12","abstract_canon_sha256":"7251951805e98092bb1b8e2ee6aa7263966956814db9550a45918a5590595c4f"},"schema_version":"1.0"},"canonical_sha256":"db076deb5ada7ca5ad2f003b9e44defa759b3576e125e7309a017b906baad874","source":{"kind":"arxiv","id":"2504.05743","version":2},"source_aliases":[{"alias_kind":"arxiv","alias_value":"2504.05743","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"arxiv_version","alias_value":"2504.05743v2","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.2504.05743","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"pith_short_12","alias_value":"3MDW32223J6K","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"pith_short_16","alias_value":"3MDW32223J6KLLJP","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"pith_short_8","alias_value":"3MDW3222","created_at":"2026-07-05T10:46:42Z"}],"events":[{"event_type":"record_created","subject_pith_number":"pith:2025:3MDW32223J6KLLJPAA5Z4RG67J","target":"record","payload":{"canonical_record":{"source":{"id":"2504.05743","kind":"arxiv","version":2},"metadata":{"license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.PM","submitted_at":"2025-04-08T07:21:40Z","cross_cats_sorted":[],"title_canon_sha256":"f5392f6b6f27549f02322cbc576d4bfd3b7d66bfbe648007d23edb847d59db12","abstract_canon_sha256":"7251951805e98092bb1b8e2ee6aa7263966956814db9550a45918a5590595c4f"},"schema_version":"1.0"},"canonical_sha256":"db076deb5ada7ca5ad2f003b9e44defa759b3576e125e7309a017b906baad874","receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-07-05T10:46:42.964626Z","signature_b64":"frJWZG/+6ibEXPexJ077QMH8R8Fya3tbfIRgQuUinq+ye8qVTmN4byfAuYS9+LreiFYxR8Xw1wVYGa4VI9QfDA==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"db076deb5ada7ca5ad2f003b9e44defa759b3576e125e7309a017b906baad874","last_reissued_at":"2026-07-05T10:46:42.964071Z","signature_status":"signed_v1","first_computed_at":"2026-07-05T10:46:42.964071Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"source_kind":"arxiv","source_id":"2504.05743","source_version":2,"attestation_state":"computed"},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-07-05T10:46:42Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"sAzjoM+JE7DtQWA50pvpYOhuhPJbpj/fn0MxiF1eo1TGpUt0Yf8nI6eTRfGD01IfqlP4tJ8fYfPBUj36WaVSCQ==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-08-16T06:52:56.087135Z"},"content_sha256":"86e4f9b6df0102898b48df401f543398630ed6367f44103cf42712b3f356965e","schema_version":"1.0","event_id":"sha256:86e4f9b6df0102898b48df401f543398630ed6367f44103cf42712b3f356965e"},{"event_type":"graph_snapshot","subject_pith_number":"pith:2025:3MDW32223J6KLLJPAA5Z4RG67J","target":"graph","payload":{"graph_snapshot":{"paper":{"title":"Causal Portfolio Optimization: Principles and Sensitivity-Based Solutions","license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","headline":"","cross_cats":[],"primary_cat":"q-fin.PM","authors_text":"Alejandro Rodriguez Dominguez","submitted_at":"2025-04-08T07:21:40Z","abstract_excerpt":"Fundamental and necessary principles for achieving efficient portfolio optimization based on asset and diversification dynamics are presented. The Commonality Principle is a necessary and sufficient condition for identifying optimal drivers of a portfolio in terms of its diversification dynamics. The proof relies on the Reichenbach Common Cause Principle, along with the fact that the sensitivities of portfolio constituents with respect to the common causal drivers are themselves causal. A conformal map preserves idiosyncratic diversification from the unconditional setting while optimizing syst"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2504.05743","kind":"arxiv","version":2},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"integrity":{"clean":true,"summary":{"advisory":0,"critical":0,"by_detector":{},"informational":0},"endpoint":"/pith/2504.05743/integrity.json","findings":[],"available":true,"detectors_run":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938"},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"verdict_id":null},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-07-05T10:46:42Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"+ZYmLmXYEzSydQSo+GC8+xpe29UBoyS4rByPZj4pCWkZsrQY+8NZxNuF++6mqgSV+dthhw2LwOiKlA1IK541Ag==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-08-16T06:52:56.088080Z"},"content_sha256":"0019fc0dabed9311f4f4ac5be434c072b8ededb7a65084c7bcb622c9e4c98e2f","schema_version":"1.0","event_id":"sha256:0019fc0dabed9311f4f4ac5be434c072b8ededb7a65084c7bcb622c9e4c98e2f"}],"timestamp_proofs":[],"mirror_hints":[{"mirror_type":"https","name":"Pith Resolver","base_url":"https://pith.science","bundle_url":"https://pith.science/pith/3MDW32223J6KLLJPAA5Z4RG67J/bundle.json","state_url":"https://pith.science/pith/3MDW32223J6KLLJPAA5Z4RG67J/state.json","well_known_bundle_url":"https://pith.science/.well-known/pith/3MDW32223J6KLLJPAA5Z4RG67J/bundle.json","status":"primary"}],"public_keys":[{"key_id":"pith-v1-2026-05","algorithm":"ed25519","format":"raw","public_key_b64":"stVStoiQhXFxp4s2pdzPNoqVNBMojDU/fJ2db5S3CbM=","public_key_hex":"b2d552b68890857171a78b36a5dccf368a953413288c353f7c9d9d6f94b709b3","fingerprint_sha256_b32_first128bits":"RVFV5Z2OI2J3ZUO7ERDEBCYNKS","fingerprint_sha256_hex":"8d4b5ee74e4693bcd1df2446408b0d54","rotates_at":null,"url":"https://pith.science/pith-signing-key.json","notes":"Pith uses this Ed25519 key to sign canonical record SHA-256 digests. Verify with: ed25519_verify(public_key, message=canonical_sha256_bytes, signature=base64decode(signature_b64))."}],"merge_version":"pith-open-graph-merge-v1","built_at":"2026-08-16T06:52:56Z","links":{"resolver":"https://pith.science/pith/3MDW32223J6KLLJPAA5Z4RG67J","bundle":"https://pith.science/pith/3MDW32223J6KLLJPAA5Z4RG67J/bundle.json","state":"https://pith.science/pith/3MDW32223J6KLLJPAA5Z4RG67J/state.json","well_known_bundle":"https://pith.science/.well-known/pith/3MDW32223J6KLLJPAA5Z4RG67J/bundle.json"},"state":{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2025:3MDW32223J6KLLJPAA5Z4RG67J","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"7251951805e98092bb1b8e2ee6aa7263966956814db9550a45918a5590595c4f","cross_cats_sorted":[],"license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.PM","submitted_at":"2025-04-08T07:21:40Z","title_canon_sha256":"f5392f6b6f27549f02322cbc576d4bfd3b7d66bfbe648007d23edb847d59db12"},"schema_version":"1.0","source":{"id":"2504.05743","kind":"arxiv","version":2}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"2504.05743","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"arxiv_version","alias_value":"2504.05743v2","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.2504.05743","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"pith_short_12","alias_value":"3MDW32223J6K","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"pith_short_16","alias_value":"3MDW32223J6KLLJP","created_at":"2026-07-05T10:46:42Z"},{"alias_kind":"pith_short_8","alias_value":"3MDW3222","created_at":"2026-07-05T10:46:42Z"}],"graph_snapshots":[{"event_id":"sha256:0019fc0dabed9311f4f4ac5be434c072b8ededb7a65084c7bcb622c9e4c98e2f","target":"graph","created_at":"2026-07-05T10:46:42Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"integrity":{"available":true,"clean":true,"detectors_run":[],"endpoint":"/pith/2504.05743/integrity.json","findings":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938","summary":{"advisory":0,"by_detector":{},"critical":0,"informational":0}},"paper":{"abstract_excerpt":"Fundamental and necessary principles for achieving efficient portfolio optimization based on asset and diversification dynamics are presented. The Commonality Principle is a necessary and sufficient condition for identifying optimal drivers of a portfolio in terms of its diversification dynamics. The proof relies on the Reichenbach Common Cause Principle, along with the fact that the sensitivities of portfolio constituents with respect to the common causal drivers are themselves causal. A conformal map preserves idiosyncratic diversification from the unconditional setting while optimizing syst","authors_text":"Alejandro Rodriguez Dominguez","cross_cats":[],"headline":"","license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.PM","submitted_at":"2025-04-08T07:21:40Z","title":"Causal Portfolio Optimization: Principles and Sensitivity-Based Solutions"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2504.05743","kind":"arxiv","version":2},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:86e4f9b6df0102898b48df401f543398630ed6367f44103cf42712b3f356965e","target":"record","created_at":"2026-07-05T10:46:42Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"7251951805e98092bb1b8e2ee6aa7263966956814db9550a45918a5590595c4f","cross_cats_sorted":[],"license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.PM","submitted_at":"2025-04-08T07:21:40Z","title_canon_sha256":"f5392f6b6f27549f02322cbc576d4bfd3b7d66bfbe648007d23edb847d59db12"},"schema_version":"1.0","source":{"id":"2504.05743","kind":"arxiv","version":2}},"canonical_sha256":"db076deb5ada7ca5ad2f003b9e44defa759b3576e125e7309a017b906baad874","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"db076deb5ada7ca5ad2f003b9e44defa759b3576e125e7309a017b906baad874","first_computed_at":"2026-07-05T10:46:42.964071Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-07-05T10:46:42.964071Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"frJWZG/+6ibEXPexJ077QMH8R8Fya3tbfIRgQuUinq+ye8qVTmN4byfAuYS9+LreiFYxR8Xw1wVYGa4VI9QfDA==","signature_status":"signed_v1","signed_at":"2026-07-05T10:46:42.964626Z","signed_message":"canonical_sha256_bytes"},"source_id":"2504.05743","source_kind":"arxiv","source_version":2}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:86e4f9b6df0102898b48df401f543398630ed6367f44103cf42712b3f356965e","sha256:0019fc0dabed9311f4f4ac5be434c072b8ededb7a65084c7bcb622c9e4c98e2f"],"state_sha256":"89224f5cf4a9bbb1fb756557b81d6568478fcb094359810d61d364bb0c312293"},"bundle_signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"BptrAYbC624TlNH5Wy29g+z7HlGaHBbpuLoe4ntonnipz7iD5C1xjnGiMCkbtRhH9pYN6oUnrXNoUMaAVx/rDQ==","signed_message":"bundle_sha256_bytes","signed_at":"2026-08-16T06:52:56.096054Z","bundle_sha256":"f0b661b5233d498af3416b6f527175252fc8f49c5e4e19789f03947d269b7403"}}