Qingyang Song

Shiqiang Wang, Qingyang Song, Lei Guo et al.

The denoise-and-forward (DNF) method of physical-layer network coding (PNC) is a promising approach for wireless relaying networks. In this paper, we consider DNF-based PNC with M-ary quadrature amplitude modulation (M-QAM) and propose a mapping scheme that maps the superposed M-QAM signal to coded symbols. The mapping scheme supports both square and non-square M-QAM modulations, with various original constellation mappings (e.g. binary-coded or Gray-coded). Subsequently, we evaluate the symbol error rate and bit error rate (BER) of M-QAM modulated PNC that uses the proposed mapping scheme. Afterwards, as an application, a rate adaptation scheme for the DNF method of PNC is proposed. Simulation results show that the rate-adaptive PNC is advantageous in various scenarios.

Gang Huang, Xiaohua Zhou, Qingyang Song

With the rapid development of artificial intelligence, data-driven methods effectively overcome limitations in traditional portfolio optimization. Conventional models primarily employ long-only mechanisms, excluding highly correlated assets to diversify risk. However, incorporating short-selling enables low-risk arbitrage through hedging correlated assets. This paper constructs a Deep Reinforcement Learning (DRL) portfolio management framework with short-selling mechanisms conforming to actual trading rules, exploring strategies for excess returns in China's A-share market. Key innovations include: (1) Development of a comprehensive short-selling mechanism in continuous trading that accounts for dynamic evolution of transactions across time periods; (2) Design of a long-short optimization framework integrating deep neural networks for processing multi-dimensional financial time series with mean Sharpe ratio reward functions. Empirical results show the DRL model with short-selling demonstrates significant optimization capabilities, achieving consistent positive returns during backtesting periods. Compared to traditional approaches, this model delivers superior risk-adjusted returns while reducing maximum drawdown. From an allocation perspective, the DRL model establishes a robust investment style, enhancing defensive capabilities through strategic avoidance of underperforming assets and balanced capital allocation. This research contributes to portfolio theory while providing novel methodologies for quantitative investment practice.