AlphaEval: A Comprehensive and Efficient Evaluation Framework for Formula Alpha Mining

ArXi:2508.13174v2 Announce Type: replace-cross Formula alpha mining, which generates predictive signals from financial data, is critical for quantitative investment. Although various algorithmic approaches-such as genetic programming, reinforcement learning, and large language models-have significantly expanded the capacity for alpha discovery, systematic evaluation remains a key challenge. Existing evaluation metrics predominantly include backtesting and correlation-based measures.