Jialuo Yuan

Jun Han, Shuo Zhang, Wei Li et al.

Financial markets are noisy and non-stationary, making alpha mining highly sensitive to noise in backtesting results and sudden market regime shifts. While recent agentic frameworks improve alpha mining automation, they often lack controllable multi-round search and reliable reuse of validated experience. To address these challenges, we propose QuantaAlpha, an evolutionary alpha mining framework that treats each end-to-end mining run as a trajectory and improves factors through trajectory-level mutation and crossover operations. QuantaAlpha localizes suboptimal steps in each trajectory for targeted revision and recombines complementary high-reward segments to reuse effective patterns, enabling structured exploration and refinement across mining iterations. During factor generation, QuantaAlpha enforces semantic consistency across the hypothesis, factor expression, and executable code, while constraining the complexity and redundancy of the generated factor to mitigate crowding. Extensive experiments on the China Securities Index 300 (CSI 300) demonstrate consistent gains over strong baseline models and prior agentic systems. When utilizing GPT-5.2, QuantaAlpha achieves an Information Coefficient (IC) of 0.1501, with an Annualized Rate of Return (ARR) of 27.75% and a Maximum Drawdown (MDD) of 7.98%. Moreover, factors mined on CSI 300 transfer effectively to the China Securities Index 500 (CSI 500) and the Standard & Poor's 500 Index (S&P 500), delivering 160% and 137% cumulative excess return over four years, respectively, which indicates strong robustness of QuantaAlpha under market distribution shifts.

Shuyu Zhang, Yifan Wei, Jialuo Yuan et al.

Task oriented dialog systems often rely on static exploration strategies that do not adapt to dynamic dialog contexts, leading to inefficient exploration and suboptimal performance. We propose DyBBT, a novel dialog policy learning framework that formalizes the exploration challenge through a structured cognitive state space capturing dialog progression, user uncertainty, and slot dependency. DyBBT proposes a bandit inspired meta-controller that dynamically switches between a fast intuitive inference (System 1) and a slow deliberative reasoner (System 2) based on real-time cognitive states and visitation counts. Extensive experiments on single- and multi-domain benchmarks show that DyBBT achieves state-of-the-art performance in success rate, efficiency, and generalization, with human evaluations confirming its decisions are well aligned with expert judgment. Code is available at https://github.com/carsonz/DyBBT.