Houde Qian, Zheng Jiang, WenYi Li, Chenxi Xu, Xinjie Lin, Yuzhao Peng, Ruoyu Han, Youjie Zheng, Kaisen Yang, Qinhuai Na, You Fu, Calvin Xiao · 2026 · arXiv (Cornell University)
DOI: 10.48550/arxiv.2610.30113 · cited by 0 works (OpenAlex) · open-access PDF
La investigación cuantitativa es un ciclo iterativo: un investigador propone una hipótesis de mercado, la implementa como una señal ejecutable, la prueba en datos históricos, y decide qué mantener. Las fórmulas de puntuación de los benchmarks existentes, código o decisiones comerciales individuales, dejando abierta si los modelos de gran lenguaje (LLM) pueden completar este ciclo y producir estrategias que funcionan más allá del período de investigación. Introducimos Quant-Arena, un índice de referencia y un tablero de referencia público para la investigación cuantitativa de fin a fin sobre los datos del mercado real de acciones. Un modelo construye características y código de puntuación de acciones, recibe feedback sólo en 2022-2023 y congela una estrategia para la evaluación en el año sellado 2024. Un evaluador de cuentas de efectivo aplica restricciones
Machine translation (Meta M2M100); the English original follows.
Quantitative research is an iterative loop: a researcher proposes a market hypothesis, implements it as an executable signal, tests it on historical data, and decides what to keep. Existing benchmarks score formulas, code, or individual trading decisions, leaving open whether large language models (LLMs) can complete this loop and produce strategies that work beyond the research period. We introduce Quant-Arena, a benchmark and public leaderboard for end-to-end quantitative research on real A-share market data. A model constructs features and stock-scoring code, receives feedback only on 2022--2023, and freezes one strategy for assessment on the sealed year 2024. A cash-account evaluator applies trading constraints and costs, including market impact estimated from a simulated order book. Scores are dominated by realized excess return and complemented by signal quality and the diversity of features used by the strategy. We evaluate nine frontier models, among which GPT-6 Astra scores highest; yet no model beats the equal-weight market in 2024. Quant-Arena is open to submissions from any model or agent harness.
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Topics: Benchmarking, Executable, Benchmark (surveying), Computer science, Order (exchange), Algorithmic trading
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