At the mo­ment the main research activ­ities of Pro­fessor Schmid are lying in the ar­eas of Statis­tics in Finance, Sta­tis­tical Process Con­trol and Envi­ron­mental Processes.
Financial Mar­kets are subject to a plenty of influ­ences. For that rea­son stochas­tic models are ex­treme­ly useful to an­alyze, forecast and con­trol financial time se­ries. The emphasis of his publications concerns the anal­ysis of the influ­ence of the es­timation error on portfo­lio se­lection and portfo­lio eval­uation.
One of the main tasks of sta­tis­tical process con­trol is to mon­itor a stochas­tic process. The aim is to de­tect changes from a tar­get process as soon as pos­sible. In or­der to de­rive a deci­sion rule the sample space is split into disjoint ar­eas. Samples are drawn sequentially and it is concluded that a change has hap­pened if the con­trol char­ac­ter­is­tic is lying in the rejection area.
Envi­ron­mental data show in many cases a spatio-temporal behaviour. For modelling air pollutants new spa­tial time se­ries models have been devel­oped at the de­part­ment. They per­mit a better interpolation and lead to improved forecasts.