2026-07-072026-07-07http://salesiana.dossiersoluciones.com/handle/123456789/209042We study empirical covariance matrices in finance. Due to the limited amount of available input information, these objects incorporate a huge amount of noise, so their naive use in optimization procedures, such as portfolio selection, may be misleading. In this paper we investigate a recently introduced filtering procedure, and demonstrate the applicability of this method in a controlled, simulation environment.9 pages with 3 EPS figuresPhysics and SocietyStatistical Financetext