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Two Sigma

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</style><div role="note" class="hatnote navigation-not-searchable">This article is about Two Sigma Investments LP. For use of the Greek letter sigma (σ) in statistics, see <a href="Standard_deviation" title="Standard deviation">Standard deviation</a>.</div>

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</style><table class="infobox ib-company vcard"><caption class="infobox-title fn org" style="font-size: 125%;">Two Sigma Investments, LP</caption><tbody><tr><td colspan="2" class="infobox-image ib-company-logo logo"></td></tr><tr><td colspan="2" class="infobox-image ib-company-logo logo"><div class="infobox-caption">Headquarters at 100 Avenue of the Americas</div></td></tr><tr><th scope="row" class="infobox-label">Company type</th><td class="infobox-data category"><a href="Private_company" class="mw-redirect" title="Private company">Private</a></td></tr><tr><th scope="row" class="infobox-label">Industry</th><td class="infobox-data category"><a href="Hedge_fund" title="Hedge fund">Hedge fund</a></td></tr><tr><th scope="row" class="infobox-label">Founded</th><td class="infobox-data">2001 (2001)</td></tr><tr><th scope="row" class="infobox-label">Founders</th><td class="infobox-data agent"><style data-mw-deduplicate="TemplateStyles:r1126788409">

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<ul><li><a href="John_Overdeck" title="John Overdeck">John Overdeck</a></li>

<li><a href="David_Siegel_(computer_scientist)" title="David Siegel (computer scientist)">David Siegel</a></li>

<li>Mark Pickard</li></ul>

</div></td></tr><tr><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data label"><a href="SoHo%2C_Manhattan" title="SoHo, Manhattan">New York</a>, <a href="New_York_(state)" title="New York (state)">New York</a>, U.S.</td></tr><tr><th scope="row" class="infobox-label">Products</th><td class="infobox-data"><a href="Hedge_fund" title="Hedge fund">Hedge fund</a></td></tr><tr><th scope="row" class="infobox-label"><a href="Assets_under_management" title="Assets under management">AUM</a></th><td class="infobox-data"><a href="United_States_dollar" title="United States dollar">US$</a>60 billion (2023)<a href="#cite_note-wsj-trading-scandal-1">[1]</a></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Number of employees</div></th><td class="infobox-data"><abbr title="circa">c.</abbr> 2,000 (2023)<a href="#cite_note-wsj-trading-scandal-1">[1]</a></td></tr><tr><th scope="row" class="infobox-label">Website</th><td class="infobox-data"><a rel="nofollow" class="external text" href="http://twosigma.com">twosigma.com</a></td></tr></tbody></table>

Two Sigma Investments, LP is an American <a href="Hedge_fund" title="Hedge fund">hedge fund</a> headquartered in <a href="New_York_City" title="New York City">New York City</a>. It uses a variety of technological methods, including <a href="Artificial_intelligence" title="Artificial intelligence">artificial intelligence</a>, <a href="Machine_learning" title="Machine learning">machine learning</a>, and <a href="Distributed_computing" title="Distributed computing">distributed computing</a>, for its trading strategies.<a href="#cite_note-forbes-2">[2]</a> The firm was run by <a href="John_Overdeck" title="John Overdeck">John Overdeck</a> and <a href="David_Siegel_(computer_scientist)" title="David Siegel (computer scientist)">David Siegel</a> until August 2024.<a href="#cite_note-forbes-2">[2]</a><a href="#cite_note-BM-3">[3]</a><a href="#cite_note-:0-4">[4]</a>

<div class="mw-heading mw-heading2"><h2 id="History">History</h2></div>

Two Sigma Investments was founded in 2001 by <a href="John_Overdeck" title="John Overdeck">John Overdeck</a>, <a href="David_Siegel_(computer_scientist)" title="David Siegel (computer scientist)">David Siegel</a> and Mark Pickard.<a href="#cite_note-forbes-2">[2]</a><a href="#cite_note-businessweek-5">[5]</a> Siegel is a computer science Ph.D. from the <a href="Massachusetts_Institute_of_Technology" title="Massachusetts Institute of Technology">Massachusetts Institute of Technology</a> who worked for <a href="Tudor_Investment_Corporation" title="Tudor Investment Corporation">Tudor Investments</a>, and Overdeck is an <a href="International_Mathematical_Olympiad" title="International Mathematical Olympiad">International Mathematical Olympiad</a> Silver Medalist who subsequently studied mathematics at <a href="Stanford_University" title="Stanford University">Stanford University</a> and worked for <a href="Jeff_Bezos" title="Jeff Bezos">Jeff Bezos</a> in <a href="Amazon_(company)" title="Amazon (company)">Amazon.com</a>'s early days.<a href="#cite_note-Inside_the_Escalating_Feud-6">[6]</a> The two met at <a href="D._E._Shaw_%26_Co." title="D. E. Shaw & Co.">D. E. Shaw & Co.</a>, where Siegel held the position of Chief Information Officer and Overdeck the position of managing director.<a href="#cite_note-about-7">[7]</a> They left to co-found Two Sigma in 2001 with <a href="Seed_funding" class="mw-redirect" title="Seed funding">seed funding</a> from <a href="Paul_Tudor_Jones" title="Paul Tudor Jones">Paul Tudor Jones</a>.<a href="#cite_note-Inside_the_Escalating_Feud-6">[6]</a><a href="#cite_note-Institutional_Investor_June_2019-8">[8]</a> Pickard served as the President of the firm from its inception until his retirement in 2006.<a href="#cite_note-about-7">[7]</a><a href="#cite_note-Inside_the_Escalating_Feud-6">[6]</a>

According to Two Sigma, the firm's name was chosen to reflect the duality of the word sigma. A lower case sigma, σ, designates the volatility of an investment's return over a given benchmark, and an upper case sigma, Σ, denotes sum. By adding together the volatilities of individual positions measured against the benchmark, Two Sigma can amplify forecast signals, the company's website says.<a href="#cite_note-about-7">[7]</a><a href="#cite_note-Rich_Formula:_Math_And_Computer_Wizards_Now_Billionaires_Thanks_To_Quant_Trading_Secrets-9">[9]</a>

In October 2013, Two Sigma Private Investments announced that it was joining with Stephen Hannahs to form Wings Capital Partners, a commercial aviation private equity, investment, advisory and financing company.<a href="#cite_note-10">[10]</a> In July 2014, it was announced that Simon Yates, <a href="Citigroup" title="Citigroup">Citigroup</a>'s global head of equity derivative sales and trading, left the bank to join Two Sigma.<a href="#cite_note-11">[11]</a><a href="#cite_note-Citi_Equity_Derivatives_Head_Yates_Said_to_Join_Two_Sigma-12">[12]</a>

In February 2014, <a href="Forbes" title="Forbes">Forbes</a> reported that former Two Sigma employee Kang Gao, aged 29, was prosecuted by the <a href="Manhattan_District_Attorney" title="Manhattan District Attorney">Manhattan District Attorney</a> and is accused of using a remote-access device to view Two Sigma's proprietary trading models and emailing this information to his personal email account, lifting quantitative trading strategies, trading models, a marketing presentation, and a scientific white paper.<a href="#cite_note-law360-13">[13]</a> The case, New York. v. Kang Gao, led to Gao receiving 8 months in jail as of October 2014.<a href="#cite_note-law360-13">[13]</a> In February 2015, Gao pleaded guilty to "illegally accessing and duplicating proprietary and confidential information related to the firm's trading methods."<a href="#cite_note-14">[14]</a><a href="#cite_note-15">[15]</a>

In 2016, Two Sigma Investments ranked 11th on <a href="Barron's_(newspaper)" class="mw-redirect" title="Barron's (newspaper)">Penta</a>'s Top 100 Hedge Funds.<a href="#cite_note-Barron's-16">[16]</a>

As of early 2017, Two Sigma had used <a href="Crowdsourcing" title="Crowdsourcing">crowdsourcing</a> options to find trading signals.<a href="#cite_note-ft-crowd-17">[17]</a> By March 2017, the fund was running a competition on <a href="Kaggle" title="Kaggle">Kaggle</a> to code a trading algorithm.<a href="#cite_note-ft-novel-18">[18]</a>

The fund managed around $8 billion in November 2011, $23 billion in October 2014, and $32 billion by the end of 2015.<a href="#cite_note-19">[19]</a><a href="#cite_note-forbes-2">[2]</a><a href="#cite_note-Bloomberg_-_Two_Sigma_Raises_$3.3_Billion_for_New_Macro_Hedge_Fund-20">[20]</a><a href="#cite_note-21">[21]</a> As of October 2017, the fund had assets reaching more than $50 billion.<a href="#cite_note-ft-billions-22">[22]</a> In May 2019, the fund had assets reaching $60 billion.<a href="#cite_note-23">[23]</a> This number slightly dropped to $58 billion in October 2020, after Two Sigma saw losses in its risk premia, absolute return, and macro funds.<a href="#cite_note-Renaissance,_Two_Sigma_Drop_as_Quants_Navigate_Chaos-24">[24]</a>

Two notable new challenges for the firm became public in 2023. In March 2023, the firm took the rare step of discussing personnel discord in the corporate suite in a filing to investors. It seems that relations between co-founders John Overdeck and David Siegel collapsed over the course of the previous years, and they were no longer on speaking terms; yet both continued to own a large segment of the company with no sign of being willing to sell their stake. The relationship was so contentious that the firm stopped holding all-hands meetings, due to the pair's unwillingness to coordinate and address employees or investors together. Additionally, Overdeck was in the process of a messy and public divorce, with his wife accusing him of <a href="Hidden_asset" title="Hidden asset">hiding the family's assets</a> in a court filing.<a href="#cite_note-25">[25]</a> Later in 2023, The Wall Street Journal reported in October 2023 that a senior vice president had made unauthorized changes to Two Sigma's trading models, leading to different-than-expected investment results, prompting the <a href="U.S._Securities_and_Exchange_Commission" class="mw-redirect" title="U.S. Securities and Exchange Commission">U.S. Securities and Exchange Commission</a> to open an investigation. Two Sigma remediated its clients who were subscribed to specific funds that suffered losses.<a href="#cite_note-wsj-trading-scandal-1">[1]</a>

In August 2024, Overdeck and Siegel stepped down as co-chief executives and were replaced by Carter Lyons and Scott Hoffman.<a href="#cite_note-:0-4">[4]</a>

<div class="mw-heading mw-heading2"><h2 id="Technology">Technology</h2></div>

At the end of 2016, Two Sigma Investments introduced an <a href="Artificial_intelligence" title="Artificial intelligence">artificial intelligence</a> challenge called <a href="Halite_AI_Programming_Competition" title="Halite AI Programming Competition">Halite</a>. Halite is a programming game inviting coding enthusiasts to build smart bots whose goal is to gain control of a virtual grid.<a href="#cite_note-26">[26]</a><a href="#cite_note-27">[27]</a><a href="#cite_note-28">[28]</a> Due to the success of <a href="Halite_AI_Programming_Competition" title="Halite AI Programming Competition">Halite I</a>, Two Sigma decided to develop a second season of Halite called <a href="Halite_AI_Programming_Competition" title="Halite AI Programming Competition">Halite II</a>. This ran from October 2017 to January 2018, and in this version players competed for control of planets using ships.<a href="#cite_note-29">[29]</a> In October 2022, Two Sigma became a <a href="Chainlink_(blockchain)" class="mw-redirect" title="Chainlink (blockchain)">Chainlink</a> node operator to help expand the use cases of blockchain-based hybrid smart contracts.<a href="#cite_note-30">[30]</a>

<div class="mw-heading mw-heading2"><h2 id="Fund_information">Fund information</h2></div>

Two Sigma has been noted in the business press for its unusually high rate of return, comparable to its older and more mature competitors <a href="D._E._Shaw_%26_Co." title="D. E. Shaw & Co.">D. E. Shaw & Co.</a> and <a href="Renaissance_Technologies" title="Renaissance Technologies">Renaissance Technologies</a>.<a href="#cite_note-forbes-2">[2]</a><a href="#cite_note-31">[31]</a> In October 2014, Two Sigma had raised $3.3 billion for a macro hedge fund in one of the largest new pools of such capital raised since the <a href="2008_financial_crisis" title="2008 financial crisis">2008 financial crisis</a>.<a href="#cite_note-Bloomberg_-_Two_Sigma_Raises_$3.3_Billion_for_New_Macro_Hedge_Fund-20">[20]</a>

There are a few specialized divisions which focus on private investments, venture capital investments (with a focus on companies operating in the realm of data science), advising institutional clients, and running a high frequency broker-dealer.<a href="#cite_note-32">[32]</a><a href="#cite_note-33">[33]</a><a href="#cite_note-Bloomberg_-_Two_Sigma_Raises_$3.3_Billion_for_New_Macro_Hedge_Fund-20">[20]</a>

<div class="mw-heading mw-heading2"><h2 id="References">References</h2></div>

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</style><cite id="CITEREFZuckermanChung2023" class="citation news cs1">Zuckerman, Gregory; Chung, Juliet (29 October 2023). <a rel="nofollow" class="external text" href="https://www.wsj.com/finance/investing/hedge-fund-two-sigma-is-hit-by-trading-scandal-501913cb?mod=hp_lead_pos5">"Hedge Fund Two Sigma Is Hit by Trading Scandal"</a>. The Wall Street Journal. Retrieved 29 October 2023.</cite>

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<li id="cite_note-forbes-2">^ <a href="#cite_ref-forbes_2-0">a</a> <a href="#cite_ref-forbes_2-1">b</a> <a href="#cite_ref-forbes_2-2">c</a> <a href="#cite_ref-forbes_2-3">d</a> <a href="#cite_ref-forbes_2-4">e</a> <cite id="CITEREFVardi2014" class="citation magazine cs1">Vardi, Nathan (11 July 2014). <a rel="nofollow" class="external text" href="https://www.forbes.com/sites/nathanvardi/2014/07/11/two-sigma-investments-is-having-a-great-year-and-becoming-a-hedge-fund-powerhouse/">"Two Sigma Investments Is Having a Great Year And Becoming A Hedge Fund Powerhouse"</a>. <a href="Forbes" title="Forbes">Forbes</a>. Retrieved 31 July 2014.</cite>

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<li id="cite_note-Citi_Equity_Derivatives_Head_Yates_Said_to_Join_Two_Sigma-12"><a href="#cite_ref-Citi_Equity_Derivatives_Head_Yates_Said_to_Join_Two_Sigma_12-0">^</a> <cite id="CITEREFDakin_Campbell2014" class="citation journal cs1">Dakin Campbell (2 July 2014). <a rel="nofollow" class="external text" href="https://www.bloomberg.com/news/articles/2014-07-02/citi-equity-derivatives-head-yates-said-to-join-two-sigma">"Citi Equity Derivatives Head Yates Said to Join Two Sigma"</a>. <a href="Bloomberg_News" title="Bloomberg News">Bloomberg News</a>. <a href="WDQ_(identifier)" class="mw-redirect" title="WDQ (identifier)">Wikidata</a> <a href="https://www.wikidata.org/wiki/Q119798279" class="extiw external" title="d:Q119798279">Q119798279</a>. Retrieved 20 June 2023.</cite>

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<li id="cite_note-law360-13">^ <a href="#cite_ref-law360_13-0">a</a> <a href="#cite_ref-law360_13-1">b</a> <cite id="CITEREFBishop2014" class="citation news cs1">Bishop, Stewart (14 October 2014). <a rel="nofollow" class="external text" href="http://www.law360.com/articles/586903/ex-two-sigma-analyst-can-t-dodge-ip-trial-but-bail-is-cut">"Ex-Two Sigma Analyst Can't Dodge IP Trial, But Bail Is Cut"</a>. law360.</cite>

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<li id="cite_note-14"><a href="#cite_ref-14">^</a> <cite class="citation pressrelease cs1"><a rel="nofollow" class="external text" href="https://manhattanda.org/press-release/da-vance-kang-gao-pleads-guilty-copying-confidential-trading-information-his-former-em">"DA VANCE: KANG GAO PLEADS GUILTY TO COPYING CONFIDENTIAL TRADING INFORMATION FROM HIS FORMER EMPLOYER"</a> (Press release). The New York County District Attorney's Office. 24 February 2015. Retrieved 16 June 2015.</cite>

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<li id="cite_note-15"><a href="#cite_ref-15">^</a> <cite id="CITEREFDolmetsch2015" class="citation news cs1">Dolmetsch, Chris (24 February 2015). <a rel="nofollow" class="external text" href="https://www.bloomberg.com/news/articles/2015-02-24/former-two-sigma-analyst-pleads-guilty-to-software-theft">"Former Two Sigma Analyst Gao Pleads Guilty to Software Theft"</a>. New York: Bloomberg L.P. Retrieved 16 June 2015.</cite>

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<li id="cite_note-Barron's-16"><a href="#cite_ref-Barron's_16-0">^</a> <cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://www.barrons.com/articles/penta-top-100-hedge-funds-1497665963?tesla=y">"Penta Top 100 Hedge Funds"</a>. Barron's. 17 June 2017. Retrieved 5 November 2017.</cite>

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<li id="cite_note-ft-crowd-17"><a href="#cite_ref-ft-crowd_17-0">^</a> <cite id="CITEREFWigglesworth2017" class="citation news cs1">Wigglesworth, Robin (17 October 2017). <a rel="nofollow" class="external text" href="https://www.ft.com/content/3f9262d2-b276-11e7-a398-73d59db9e399">"Cohen-backed Quantopian starts fund for outside investors"</a>. <a href="The_Financial_Times" class="mw-redirect" title="The Financial Times">The Financial Times</a>. United Kingdom. Retrieved 29 October 2017.</cite>

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<li id="cite_note-ft-novel-18"><a href="#cite_ref-ft-novel_18-0">^</a> <cite id="CITEREFWigglesworth2017" class="citation news cs1">Wigglesworth, Robin (8 March 2017). <a rel="nofollow" class="external text" href="https://www.ft.com/content/1fd47a60-03e5-11e7-aa5b-6bb07f5c8e12">"Hedge funds adopt novel methods to hunt down new tech talent"</a>. <a href="The_Financial_Times" class="mw-redirect" title="The Financial Times">The Financial Times</a>. United Kingdom. Retrieved 29 October 2017.</cite>

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<li id="cite_note-19"><a href="#cite_ref-19">^</a> <cite id="CITEREFCopeland2011" class="citation web cs1">Copeland, Rob (1 November 2011). <a rel="nofollow" class="external text" href="http://www.institutionalinvestor.com/Article/2925681/Two-Sigma-readies-new-global-equity-fund-Magazine-Version.html#.U9sGvrEn8V4">"Two Sigma readies new global equity fund"</a>. Retrieved 31 July 2014.</cite>

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<li id="cite_note-Bloomberg_-_Two_Sigma_Raises_$3.3_Billion_for_New_Macro_Hedge_Fund-20">^ <a href="#cite_ref-Bloomberg_-_Two_Sigma_Raises_$3.3_Billion_for_New_Macro_Hedge_Fund_20-0">a</a> <a href="#cite_ref-Bloomberg_-_Two_Sigma_Raises_$3.3_Billion_for_New_Macro_Hedge_Fund_20-1">b</a> <a href="#cite_ref-Bloomberg_-_Two_Sigma_Raises_$3.3_Billion_for_New_Macro_Hedge_Fund_20-2">c</a> <cite id="CITEREFSimone_Foxman2014" class="citation journal cs1">Simone Foxman (30 October 2014). <a rel="nofollow" class="external text" href="https://www.bloomberg.com/news/articles/2014-10-30/two-sigma-raises-3-3-billion-for-new-macro-hedge-fund">"Two Sigma Raises $3.3 Billion for New Macro Hedge Fund"</a>. <a href="Bloomberg_News" title="Bloomberg News">Bloomberg News</a>. <a href="WDQ_(identifier)" class="mw-redirect" title="WDQ (identifier)">Wikidata</a> <a href="https://www.wikidata.org/wiki/Q120052780" class="extiw external" title="d:Q120052780">Q120052780</a>. Retrieved 28 June 2023.</cite>

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<li id="cite_note-21"><a href="#cite_ref-21">^</a> <cite id="CITEREFVardi" class="citation web cs1">Vardi, Nathan. <a rel="nofollow" class="external text" href="https://www.forbes.com/sites/nathanvardi/2016/01/13/top-quant-hedge-funds-stand-out-with-good-2015/#3e5c14cc558e">"Top Quant Hedge Funds Stand Out With Good 2015"</a>. Forbes. Retrieved 25 June 2016.</cite>

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<li id="cite_note-ft-billions-22"><a href="#cite_ref-ft-billions_22-0">^</a> <cite id="CITEREFWigglesworth2017" class="citation news cs1">Wigglesworth, Robin (23 October 2017). <a rel="nofollow" class="external text" href="https://www.ft.com/content/dcf8077c-b823-11e7-9bfb-4a9c83ffa852">"Two Sigma rapidly rises to top of quant hedge fund world"</a>. <a href="The_Financial_Times" class="mw-redirect" title="The Financial Times">The Financial Times</a>. United Kingdom. Retrieved 29 October 2017.</cite>

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<li id="cite_note-23"><a href="#cite_ref-23">^</a> <cite id="CITEREFSaacks" class="citation web cs1">Saacks, Bradley. <a rel="nofollow" class="external text" href="https://www.businessinsider.com/two-sigma-head-of-technology-says-security-is-the-biggest-problem-he-faces-2019-5">"'It's a cat-and-mouse game': The head of technology at $60 billion hedge fund Two Sigma explains why cybersecurity is a bigger challenge than AI"</a>. Business Insider. Retrieved 18 June 2019.</cite>

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<li id="cite_note-Renaissance,_Two_Sigma_Drop_as_Quants_Navigate_Chaos-24"><a href="#cite_ref-Renaissance,_Two_Sigma_Drop_as_Quants_Navigate_Chaos_24-0">^</a> <cite id="CITEREFKatia_PorzecanskiHema_Parmar2020" class="citation journal cs1">Katia Porzecanski; Hema Parmar (17 November 2020). <a rel="nofollow" class="external text" href="https://www.bloomberg.com/news/articles/2020-11-17/renaissance-two-sigma-see-losses-as-quant-giants-navigate-chaos">"Renaissance, Two Sigma Drop as Quants Navigate Chaos"</a>. <a href="Bloomberg_News" title="Bloomberg News">Bloomberg News</a>. <a href="WDQ_(identifier)" class="mw-redirect" title="WDQ (identifier)">Wikidata</a> <a href="https://www.wikidata.org/wiki/Q119797909" class="extiw external" title="d:Q119797909">Q119797909</a>. Retrieved 20 June 2023.</cite>

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<li id="cite_note-25"><a href="#cite_ref-25">^</a> <cite id="CITEREFFarrell2023" class="citation news cs1">Farrell, Maureen (6 November 2023). <a rel="nofollow" class="external text" href="https://www.nytimes.com/2023/11/06/business/two-sigma-troubles.html">"Warring Billionaires, a Rogue Employee, a Divorce: One Hedge Fund's Tale of Woe"</a>. The New York Times. Retrieved 6 November 2023.</cite>

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<li id="cite_note-26"><a href="#cite_ref-26">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://tech.cornell.edu/news/two-sigma-announces-public-launch-of-halite-ai-coding-game">"Two Sigma Announces Public Launch of Halite, A.I. Coding Game"</a>. Cornell Tech. 2 November 2016. Retrieved 10 September 2017.</cite>

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<li id="cite_note-27"><a href="#cite_ref-27">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://news.ycombinator.com/item?id=12923677">"Halite: An AI Programming Challenge | Hacker News"</a>. news.ycombinator.com. Retrieved 10 September 2017.</cite>

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<li id="cite_note-28"><a href="#cite_ref-28">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.twosigma.com/about/the-latest/introducing-halite-our-limited-release-ai-challenge">"Introducing Halite: Our Limited Release AI Challenge"</a>. Two Sigma. Retrieved 10 September 2017.</cite>

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<li id="cite_note-29"><a href="#cite_ref-29">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://halite.io/">"Halite II"</a>. Halite. Retrieved 23 January 2018.</cite>

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<li id="cite_note-30"><a href="#cite_ref-30">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://markets.businessinsider.com/news/currencies/hedge-fund-two-sigma-to-provide-data-to-blockchain-information-network-chainlink-1031784807">"Hedge Fund Two Sigma to Provide Data to Blockchain Information Network Chainlink"</a>. Business Insider. Retrieved 6 October 2022.</cite>

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<li id="cite_note-31"><a href="#cite_ref-31">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.institutionalinvestorsalpha.com/profile/3280295/4269/Two-Sigma-InvestmentsTwo-Sigma-Advisers.html">"Two Sigma Investments/Two Sigma Advisers"</a>. Retrieved 31 July 2014.</cite>

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<li id="cite_note-32"><a href="#cite_ref-32">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.twosigmapi.com">"Two Sigma Private Investments"</a>. Retrieved 31 July 2014.</cite>

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<li id="cite_note-33"><a href="#cite_ref-33">^</a> <cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.twosigmaventures.com/">"Two Sigma Ventures"</a>. Retrieved 31 July 2014.</cite>

</li>

</ol></div>

<div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2></div>

<ul><li><a rel="nofollow" class="external text" href="https://www.twosigma.com/">Official website</a> </li>

<li><a rel="nofollow" class="external text" href="https://twosigmaventures.com/">Two Sigma Ventures</a></li></ul>

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</style><div id="Hedge_funds642" style="font-size:114%;margin:0 4em"><a href="Hedge_fund" title="Hedge fund">Hedge funds</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Investment strategy</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:7em"><a href="Arbitrage" title="Arbitrage">Arbitrage</a> / <a href="Relative_value_(economics)" title="Relative value (economics)">relative value</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Capital_structure#Arbitrage" title="Capital structure">Capital structure arbitrage</a></li>

<li><a href="Convertible_arbitrage" title="Convertible arbitrage">Convertible arbitrage</a></li>

<li><a href="Market_neutral#Equity-market-neutral" title="Market neutral">Equity market neutral</a></li>

<li><a href="Fixed_income_arbitrage" title="Fixed income arbitrage">Fixed income arbitrage</a> / <a href="Fixed-income_relative-value_investing" title="Fixed-income relative-value investing">fixed-income relative-value investing</a></li>

<li><a href="Statistical_arbitrage" title="Statistical arbitrage">Statistical arbitrage</a></li>

<li><a href="Volatility_arbitrage" title="Volatility arbitrage">Volatility arbitrage</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:7em"><a href="Event-driven_investing" title="Event-driven investing">Event-driven</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Shareholder_activism" title="Shareholder activism">Shareholder activism</a></li>

<li><a href="Distressed_securities" title="Distressed securities">Distressed securities</a></li>

<li><a href="Risk_arbitrage" title="Risk arbitrage">Risk arbitrage</a></li>

<li><a href="Special_situation" title="Special situation">Special situation</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:7em">Directional</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Convergence_trade" title="Convergence trade">Convergence trade</a></li>

<li><a href="Commodity_trading_advisor" title="Commodity trading advisor">Commodity trading advisors</a> / <a href="Managed_futures_account" title="Managed futures account">managed futures account</a></li>

<li><a href="Short_(finance)" title="Short (finance)">Dedicated short</a></li>

<li><a href="Global_macro" title="Global macro">Global macro</a></li>

<li><a href="Long/short_equity" title="Long/short equity">Long/short equity</a></li>

<li><a href="Trend_following" title="Trend following">Trend following</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:7em">Other</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Fund_of_funds#Fund_of_hedge_funds" title="Fund of funds">Fund of hedge funds</a> / <a href="Multi-manager_investment" title="Multi-manager investment">Multi-manager</a></li></ul>

</div></td></tr></tbody></table><div></div></td><td class="noviewer navbox-image" rowspan="5" style="width:1px;padding:0 0 0 2px"><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Trading</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Algorithmic_trading" title="Algorithmic trading">Algorithmic trading</a></li>

<li><a href="Day_trading" title="Day trading">Day trading</a></li>

<li><a href="High-frequency_trading" title="High-frequency trading">High-frequency trading</a></li>

<li><a href="Prime_brokerage" title="Prime brokerage">Prime brokerage</a></li>

<li><a href="Program_trading" title="Program trading">Program trading</a></li>

<li><a href="Proprietary_trading" title="Proprietary trading">Proprietary trading</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related terms</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:7em">Markets</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Commodity_market" title="Commodity market">Commodities</a></li>

<li><a href="Derivative_(finance)" title="Derivative (finance)">Derivatives</a></li>

<li><a href="Stock_market" title="Stock market">Equity</a></li>

<li><a href="Bond_market" title="Bond market">Fixed income</a></li>

<li><a href="Foreign_exchange_market" title="Foreign exchange market">Foreign exchange</a></li>

<li><a href="Money_market" title="Money market">Money markets</a></li>

<li><a href="Structured_finance" title="Structured finance">Structured securities</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:7em">Misc</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Absolute_return" title="Absolute return">Absolute return</a></li>

<li><a href="Arbitrage_pricing_theory" title="Arbitrage pricing theory">Arbitrage pricing theory</a></li>

<li><a href="Assets_under_management" title="Assets under management">Assets under management</a></li>

<li><a href="Black%E2%80%93Scholes_model" title="Black–Scholes model">Black–Scholes model</a> (<a href="Greeks_(finance)" title="Greeks (finance)">Greeks</a>: <a href="Delta_neutral" title="Delta neutral">delta neutral</a>)</li>

<li><a href="Capital_asset_pricing_model" title="Capital asset pricing model">Capital asset pricing model</a> (<a href="Alpha_(finance)" title="Alpha (finance)">alpha</a> / <a href="Beta_(finance)" title="Beta (finance)">beta</a> / <a href="Security_characteristic_line" title="Security characteristic line">security characteristic line</a>)</li>

<li><a href="Fundamental_analysis" title="Fundamental analysis">Fundamental analysis</a></li>

<li><a href="Hedge_(finance)" title="Hedge (finance)">Hedge</a></li>

<li><a href="Securitization" title="Securitization">Securitization</a></li>

<li><a href="Short_(finance)" title="Short (finance)">Short</a></li>

<li><a href="Taxation_of_private_equity_and_hedge_funds" title="Taxation of private equity and hedge funds">Taxation of private equity and hedge funds</a></li>

<li><a href="Technical_analysis" title="Technical analysis">Technical analysis</a></li></ul>

</div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Investors</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Vulture_fund" title="Vulture fund">Vulture funds</a></li>

<li><a href="Family_office" title="Family office">Family offices</a></li>

<li><a href="Financial_endowment" title="Financial endowment">Financial endowments</a></li>

<li><a href="Fund_of_funds#Fund_of_hedge_funds" title="Fund of funds">Fund of hedge funds</a></li>

<li><a href="High-net-worth_individual" title="High-net-worth individual">High-net-worth individual</a></li>

<li><a href="Institutional_investor" title="Institutional investor">Institutional investors</a></li>

<li><a href="Insurance#Insurance_companies" title="Insurance">Insurance companies</a></li>

<li><a href="Investment_banking" title="Investment banking">Investment banks</a></li>

<li><a href="Merchant_bank" title="Merchant bank">Merchant banks</a></li>

<li><a href="Pension_fund" title="Pension fund">Pension funds</a></li>

<li><a href="Sovereign_wealth_fund" title="Sovereign wealth fund">Sovereign wealth funds</a></li></ul>

</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Governance</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em">

<ul><li><a href="Fund_governance" title="Fund governance">Fund governance</a></li>

<li><a href="Standards_Board_for_Alternative_Investments" title="Standards Board for Alternative Investments">Standards Board for Alternative Investments</a></li>

<li><a href="Managed_Funds_Association" title="Managed Funds Association">Managed Funds Association</a></li></ul>

</div></td></tr><tr><td class="navbox-abovebelow" colspan="3"><div>

<ul><li>Alternative investment management companies</li>

<li> Hedge funds</li>

<li>Hedge fund managers</li>

<li> <a href="List_of_hedge_funds" title="List of hedge funds">List of hedge funds</a></li></ul>

</div></td></tr></tbody></table></div></div><div><div class="zim-footer">

This article is issued from <a class="external text" title="Last edited on 2025-03-29" href="https://en.wikipedia.org/wiki/?title=Two_Sigma&oldid=1282931224">Wikipedia</a>. The text is available under <a class="external text" href="https://creativecommons.org/licenses/by-sa/4.0/deed.en">Creative Commons Attribution-Share Alike 4.0</a> unless otherwise noted. Additional terms may apply for the media files.

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