Celestial navigation Celestial navigation Celestial navigation, also known as astronavigation, is the ancient and modern practice of position fixing that enables a navigator to transition through a space without having to rely on estimated calculations, or dead reckoning, to know their position. Celestial navigation uses "sights", or angular measurements taken between a celestial body (e.g. the Sun, the Moon, a planet, or a star) and the visible horizon. The Sun is most commonly used, but navigators can also use the Moon, a planet, Polaris, or one of 57 other navigational stars whose coordinates are tabulated in the nautical almanac and air almanacs.
Abnormal return from the market portfolio in the estimation period, T – the numbers of days in the estimation period. Cumulative abnormal return, or CAR, is the sum of all abnormal returns. Cumulative Abnormal Returns are usually calculated over small windows, often only days. This is because evidence has shown that compounding daily abnormal returns can create bias in the results. Abnormal return In finance, an abnormal return is the difference between the actual return of a security and the expected return. Abnormal returns are sometimes triggered by "events." Events can include mergers, dividend announcements, company earning announcements, interest rate increases, lawsuits,