Metrics, Volume 3, Issue 1 (March 2026) – 6 articles

Purpose: The paper deals with short-horizon foreign exchange (FX) predictability through predictive directional bias and how these are intertwined with the choice of features in weak-signal trading systems. Although FX markets are generally considered extremely efficient, temporal predictability at very short horizons might exist, but is exaggerated by feature selection, causing structural directional imbalance. This paper is intended to address the question of whether explicit bias-corrected feature selection can enhance tradable next-day FX performance under realistic cost constraints. Method: The approach of the study is the bias-corrected feature selection with Annealing (BFSA) and a fixed-penalty variant (BFSA-Fixed) built into a rolling walk-forward trading model. The process of feature selection and model estimation is repeated and re-estimated again in a time-respecting fashion, and forecasts are converted to directional trading decisions. The analysis takes into consideration transaction costs and puts emphasis on the net risk-adjusted performance, but not the sole predictive accuracy. Data: Daily information is provided in the empirical analysis of 14 liquid FX pairs, which include seven major and seven minor currencies. The motivation behind the choice of this universe is that it creates realistic conditions for execution, and it does not conflate the effects of extreme liquidity predictive performance with those of extreme liquidity. Results: Economic and statistically significant gains of performance with BFSA-Fixed at one day horizon (H = 1), as well as pair-level Sharpe ratios of 1 to 2 and above, annualized returns of 15 to 30, win rates of 55 to 60, and contained draws. These returns are constructively added together to a portfolio Sharpe of over 2. Conversely, performance reduces quickly in longer horizons (H = 2 and H = 3), with Sharpe ratios becoming negative and cumulative returns become flatten and negative, which are in line with rapid information decay and FX markets’ efficiency. Implications: The article shows that bias-corrected feature selection can significantly increase tradable next-day FX strategies with no leaning on persistent directional exposure or overfitting. Conclusion: The results justify the short-term use of bias-aware feature selection and highlight the inability of the FX to be predictable on a long-term basis. Full article

The educational-Pink Innovation Grade Index (e-PIGI) is a novel metric designed to assess and quantify the level of innovation within educational practices and pedagogical projects. This work introduces the e-PIGI tool, an interactive and survey-based software that enables educators, institutions, and project designers to identify both strengths and limitations in their initiatives across ten key dimensions. These include different categories such as: (i) emerging technologies, (ii) adaptability to diversity, (iii) promotion of 21st-century skills, (iv) collaboration, (v) alignment with regulatory frameworks, (vi) active methodologies, (vii) impact, (viii) sustainability, (ix) evaluation and (x) multidisciplinarity. Each dimension is scored using a pink color-based scale ranging from 0 to 10, with darker tones indicating a higher degree of innovation. The resulting output includes a color-coded innovation score and a circular-shaped pictogram that offers a visual representation of the project’s innovative profile. A threshold value of 50 points is proposed as an operational criterion for identifying projects considered innovative. The tool was validated through expert judgment for content validity and through empirical reliability analysis (Cronbach’s coefficient α = 0.833, n = 126), confirming good internal consistency. To demonstrate its utility, the new tool was applied to a set of educational initiatives, helping to highlight their pedagogical strengths and areas for improvement. As an accessible and scalable instrument, e-PIGI aims to support reflective teaching practices, promote ongoing developments, and facilitate the comparison of innovation across diverse educational contexts. This software highlights the potential of e-PIGI to contribute to a more evidence-based and strategically guided culture of innovation in education. Full article

A pervasive trend across academia, social cognition, and general communication contexts is the interchangeable use of “information” and “knowledge”, particularly with reference to their forms—explicit knowledge, testimony, and expertise—conveyed by external sources. This raises a fundamental question: is the source perceived, considered, and validated as a reliable knowledge provider or merely as an information carrier? This study investigates seven academic and popular science sources by modelling their constructs of knowledge provision based on epistemological criteria and sociopsychological value, as manifested through the perspectives of university academics. The external sources examined include scientific journal articles, knowledge shared by university lecturers, scholarly monographs, textbooks and handbooks, popular science books and magazines, academic social networks and social media platforms. A quantitative investigation, supplemented by qualitative content analysis, collected assessments from sixty-six university academics in Latvia using the Epistemological Attitude Questionnaire towards Knowledge Sources. Statistical analysis, coupled with an examination and interpretation of academics’ perceptions, comprehension, use, and personal valuation of these sources, elucidated their profiles. The findings provide a holistic picture of these sources, detailing the value, qualities, functionality, and contributions of each type. Interpretations reveal that the designation of a form of “knowledge source” predominantly aligns with scientific and educational sources, whereas “information carriers” or socially functional sources primarily pertain to popular science and social media. Academic social networks, notably, occupy an intermediary position. This study offers critical academic insights into ongoing issues regarding these means of cognition. It prompts a scrutiny of both established traditional sources and contemporary mediums, both academic and popular, encouraging readers to evaluate these compiled images according to the delineated criteria of the theoretical framework. Full article

Despite the significant increase in publications on construction project performance (CPP), there is a deficiency of research that rigorously assesses and synthesizes previous studies to delineate the field’s development, themes, and research gaps. This article employs quantitative and qualitative methodologies to critically evaluate studies on CPP published over the last three decades and indexed in the Scopus database. The quantitative approach includes bibliometric searches and scientometric analyses to assess the extent of research interest and achievements. The qualitative methodology aims to conduct thorough content analysis to classify existing material based on prevalent themes. The results demonstrate an exponential growth of interest in this scientific research topic. Project management, construction industry, construction projects, project performance, and critical success factors are top keywords in pertinent research publications. This research field has been investigated in over 50 nations and published in over 100 scholarly journals. The United States and the Journal of Construction Engineering and Management are the primary contributors. Prior studies were categorized according to their objectives into four main research themes: project performance assessment and prediction, project performance improvement, critical success factors, and key performance indicators. This article uncovers research gaps and suggests avenues for further investigations. Researchers and practitioners may utilize the findings of this study to evaluate and implement CPP principles. Full article

The Internet of Things (IoT) has evolved through the interconnection of edge devices, enabling seamless data exchange across networks. With IoT adoption expanding into various sectors, the massive growth of generated data has raised concerns about the security of edge devices tasked with processing this information. While several metrics exist to assess vulnerability severity and support risk management, many fail to account for the distinct characteristics of IoT environments and lack precision in evaluating hardware-specific vulnerabilities. This paper provides a comprehensive review of current vulnerability metrics and frameworks and introduces a novel method for analyzing memory-related vulnerabilities in IoT edge devices. The proposed approach leverages functional size measurement through COSMIC (ISO 19761), a standardized measurement method for quantifying software functionality. By applying COSMIC, memory-related vulnerabilities can be assessed from a functional perspective. Additionally, a prototype tool is presented that automates the evaluation of memory vulnerabilities on ESP boards using COSMIC-based measurements. Findings highlight the potential of incorporating functional sizing into IoT security assessment practices. Full article

Climate change is the most significant socio-environmental challenges of our time, and education has been recognized as a fundamental strategy to confront it. Yet research efforts have focused more on students than on teachers, despite the latter’s key role in mediating between scientific and curricular knowledge and classroom practice. This study set out to characterize the field of educational research on climate change from the perspective of secondary school teachers. To this end, we conducted a systematic review and bibliometric analysis of 50 peer-reviewed studies from 15 countries (2010–2023). The results show a growing interest over time, with increases associated with international milestones such as the IPCC reports and the Paris Agreement, while declines are observed in connection with political shifts and the COVID-19 pandemic. Consolidated academic reference points were identified, including Eric Plutzer and Maria Ojala, alongside influential international organizations such as the IPCC and UNESCO, suggesting the presence of schools of thought and institutional frameworks that structure the field. Methodologically, descriptive and exploratory studies predominate, with a notable reliance on qualitative and mixed-methods designs using small samples, reinforcing the difficulty of accessing teachers as a research population. Overall, this review highlights significant gaps, particularly the geographical bias toward the Global North, and underscores the urgency of broader, more inclusive, and critically engaged research that positions teachers as essential agents of transformative educational responses to the climate crisis. Full article