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Valeriy Ivanovich Zakamulin


9I253 ( Universitetsveien 19, Kristiansand )

Valeriy Zakamulin is Professor of Finance at the School of Business and Law at the University of Agder. He holds an MS in Radio Engineering from Novgorod State University (Russia), and both an MS in Economics and Business Administration and a PhD in Finance from the NHH Norwegian School of Economics.

Zakamulin worked for many years as a Research Fellow at the computer science department of the Novgorod State University, developing both computer hardware and software. Since 2006, Zakamulin has been employed by the University of Agder, where he teaches graduate courses in finance. He is a former Associate Professor at the Graduate School of Business of the Nord University (Norway), and a former Associate Professor II at the University of Stavanger (Norway).

Zakamulin has published more than 40 articles in various refereed academic and practitioner journals. Examples of such journals are Journal of Economic Dynamics and Control, Journal of Banking and Finance, Quantitative Finance, Journal of Portfolio Management, International Journal of Forecasting, and International Review of Financial Analysis.

Zakamulin is a frequent speaker on international conferences. He has also served on editorial boards of such economics and finance journals as Open Economic Journal, Journal of Banking and Finance, and International Journal of Emerging Markets. Zakamulin is the author of Market Timing with Moving Averages, a book published by Springer and Palgrave Macmillan. This book is supplied by interactive web-illustrations and a series of blog post entitled Trend Following with Valeriy Zakamulin.


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  • BE-421 Investments
  • BE-511 Derivatives
  • SE-507 Machine Learning with Applications in Finance

Faglige interesser

  • time-series analysis
  • return predictability
  • risk predictability
  • behavioral finance
  • trend-following investment


Research groups

  • Accounting and Finance

Allmenn formidling

series of blog post entitled Trend Following with Valeriy Zakamulin

Vitenskapelige publikasjoner

  • Zakamulin, Valeriy (2017). Market Timing with Moving Averages: The Anatomy and Performance of Trading Rules. ISBN: 3319609696. Palgrave Macmillan. s 278.
  • Zakamulin, Valeriy; Giner, Javier (2022). A Semi-Markov Model for Stock Returns with Momentum and Mean-Reversion.

Sist endret: 18.03.2023 11:03