{"id":"https://openalex.org/W4396723154","doi":"https://doi.org/10.1145/3589334.3645615","title":"Reinforcement Learning with Maskable Stock Representation for Portfolio Management in Customizable Stock Pools","display_name":"Reinforcement Learning with Maskable Stock Representation for Portfolio Management in Customizable Stock Pools","publication_year":2024,"publication_date":"2024-05-08","ids":{"openalex":"https://openalex.org/W4396723154","doi":"https://doi.org/10.1145/3589334.3645615"},"language":"en","primary_location":{"id":"doi:10.1145/3589334.3645615","is_oa":true,"landing_page_url":"https://doi.org/10.1145/3589334.3645615","pdf_url":null,"source":null,"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the ACM Web Conference 2024","raw_type":"proceedings-article"},"type":"conference-paper","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://doi.org/10.1145/3589334.3645615","any_repository_has_fulltext":null},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5100459881","display_name":"Wentao Zhang","orcid":"https://orcid.org/0009-0008-2767-6998"},"institutions":[{"id":"https://openalex.org/I172675005","display_name":"Nanyang Technological University","ror":"https://ror.org/02e7b5302","country_code":"SG","type":"education","lineage":["https://openalex.org/I172675005"]}],"countries":["SG"],"is_corresponding":false,"raw_author_name":"Wentao Zhang","raw_affiliation_strings":["Nanyang Technological University, Singapore, Singapore"],"raw_orcid":"https://orcid.org/0009-0008-2767-6998","affiliations":[{"raw_affiliation_string":"Nanyang Technological University, Singapore, Singapore","institution_ids":["https://openalex.org/I172675005"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5075048593","display_name":"Yilei Zhao","orcid":"https://orcid.org/0009-0009-4226-1456"},"institutions":[{"id":"https://openalex.org/I76130692","display_name":"Zhejiang University","ror":"https://ror.org/00a2xv884","country_code":"CN","type":"education","lineage":["https://openalex.org/I76130692"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Yilei Zhao","raw_affiliation_strings":["Zhejiang University, Hangzhou, China"],"raw_orcid":"https://orcid.org/0009-0009-4226-1456","affiliations":[{"raw_affiliation_string":"Zhejiang University, Hangzhou, China","institution_ids":["https://openalex.org/I76130692"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5004036450","display_name":"Shuo Sun","orcid":"https://orcid.org/0000-0001-7153-1878"},"institutions":[{"id":"https://openalex.org/I172675005","display_name":"Nanyang Technological University","ror":"https://ror.org/02e7b5302","country_code":"SG","type":"education","lineage":["https://openalex.org/I172675005"]}],"countries":["SG"],"is_corresponding":false,"raw_author_name":"Shuo Sun","raw_affiliation_strings":["Nanyang Technological University, Singapore, Singapore"],"raw_orcid":"https://orcid.org/0000-0001-7153-1878","affiliations":[{"raw_affiliation_string":"Nanyang Technological University, Singapore, Singapore","institution_ids":["https://openalex.org/I172675005"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5073522194","display_name":"Jie Ying","orcid":"https://orcid.org/0000-0002-2218-9751"},"institutions":[{"id":"https://openalex.org/I172675005","display_name":"Nanyang Technological University","ror":"https://ror.org/02e7b5302","country_code":"SG","type":"education","lineage":["https://openalex.org/I172675005"]}],"countries":["SG"],"is_corresponding":false,"raw_author_name":"Jie Ying","raw_affiliation_strings":["Nanyang Technological University, Singapore, Singapore"],"raw_orcid":"https://orcid.org/0000-0002-2218-9751","affiliations":[{"raw_affiliation_string":"Nanyang Technological University, Singapore, Singapore","institution_ids":["https://openalex.org/I172675005"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5076267930","display_name":"Yonggang Xie","orcid":"https://orcid.org/0000-0002-9126-2078"},"institutions":[{"id":"https://openalex.org/I172675005","display_name":"Nanyang Technological University","ror":"https://ror.org/02e7b5302","country_code":"SG","type":"education","lineage":["https://openalex.org/I172675005"]}],"countries":["SG"],"is_corresponding":false,"raw_author_name":"Yonggang Xie","raw_affiliation_strings":["Nanyang Technological University, Singapore, Singapore"],"raw_orcid":"https://orcid.org/0000-0002-9126-2078","affiliations":[{"raw_affiliation_string":"Nanyang Technological University, Singapore, Singapore","institution_ids":["https://openalex.org/I172675005"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5009357142","display_name":"Zitao Song","orcid":"https://orcid.org/0000-0003-4646-0339"},"institutions":[{"id":"https://openalex.org/I172675005","display_name":"Nanyang Technological University","ror":"https://ror.org/02e7b5302","country_code":"SG","type":"education","lineage":["https://openalex.org/I172675005"]}],"countries":["SG"],"is_corresponding":false,"raw_author_name":"Zitao Song","raw_affiliation_strings":["Nanyang Technological University, Singapore, Singapore"],"raw_orcid":"https://orcid.org/0000-0003-4646-0339","affiliations":[{"raw_affiliation_string":"Nanyang Technological University, Singapore, Singapore","institution_ids":["https://openalex.org/I172675005"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5049783685","display_name":"Xinrun Wang","orcid":"https://orcid.org/0000-0003-3369-219X"},"institutions":[{"id":"https://openalex.org/I172675005","display_name":"Nanyang Technological University","ror":"https://ror.org/02e7b5302","country_code":"SG","type":"education","lineage":["https://openalex.org/I172675005"]}],"countries":["SG"],"is_corresponding":false,"raw_author_name":"Xinrun Wang","raw_affiliation_strings":["Nanyang Technological University, Singapore, Singapore"],"raw_orcid":"https://orcid.org/0000-0003-3369-219X","affiliations":[{"raw_affiliation_string":"Nanyang Technological University, Singapore, Singapore","institution_ids":["https://openalex.org/I172675005"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5017743551","display_name":"Bo An","orcid":"https://orcid.org/0000-0002-7064-7438"},"institutions":[{"id":"https://openalex.org/I172675005","display_name":"Nanyang Technological University","ror":"https://ror.org/02e7b5302","country_code":"SG","type":"education","lineage":["https://openalex.org/I172675005"]}],"countries":["SG"],"is_corresponding":false,"raw_author_name":"Bo An","raw_affiliation_strings":["Nanyang Technological University &amp; Skywork AI, Singapore, Singapore"],"raw_orcid":"https://orcid.org/0000-0002-7064-7438","affiliations":[{"raw_affiliation_string":"Nanyang Technological University &amp; Skywork AI, Singapore, Singapore","institution_ids":["https://openalex.org/I172675005"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":28.7023,"has_fulltext":false,"cited_by_count":16,"citation_normalized_percentile":{"value":0.99744463,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":94,"max":99},"biblio":{"volume":null,"issue":null,"first_page":"187","last_page":"198"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11270","display_name":"Complex Systems and Time Series Analysis","score":0.9876999855041504,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/reinforcement-learning","display_name":"Reinforcement learning","score":0.7519492506980896},{"id":"https://openalex.org/keywords/stock","display_name":"Stock (firearms)","score":0.6533189415931702},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.6152305006980896},{"id":"https://openalex.org/keywords/portfolio","display_name":"Portfolio","score":0.5481980443000793},{"id":"https://openalex.org/keywords/stock-market","display_name":"Stock market","score":0.5189706683158875},{"id":"https://openalex.org/keywords/growth-stock","display_name":"Growth stock","score":0.4663751721382141},{"id":"https://openalex.org/keywords/profit","display_name":"Profit (economics)","score":0.4358222484588623},{"id":"https://openalex.org/keywords/market-maker","display_name":"Market maker","score":0.38082778453826904},{"id":"https://openalex.org/keywords/operations-research","display_name":"Operations research","score":0.3218143582344055},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.30937063694000244},{"id":"https://openalex.org/keywords/artificial-intelligence","display_name":"Artificial intelligence","score":0.2882782518863678},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.26501521468162537},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.24336573481559753},{"id":"https://openalex.org/keywords/mathematics","display_name":"Mathematics","score":0.08146288990974426}],"concepts":[{"id":"https://openalex.org/C97541855","wikidata":"https://www.wikidata.org/wiki/Q830687","display_name":"Reinforcement learning","level":2,"score":0.7519492506980896},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.6533189415931702},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.6152305006980896},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.5481980443000793},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5189706683158875},{"id":"https://openalex.org/C143591128","wikidata":"https://www.wikidata.org/wiki/Q1746791","display_name":"Growth stock","level":5,"score":0.4663751721382141},{"id":"https://openalex.org/C181622380","wikidata":"https://www.wikidata.org/wiki/Q26911","display_name":"Profit (economics)","level":2,"score":0.4358222484588623},{"id":"https://openalex.org/C18991353","wikidata":"https://www.wikidata.org/wiki/Q1137319","display_name":"Market maker","level":4,"score":0.38082778453826904},{"id":"https://openalex.org/C42475967","wikidata":"https://www.wikidata.org/wiki/Q194292","display_name":"Operations research","level":1,"score":0.3218143582344055},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.30937063694000244},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.2882782518863678},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.26501521468162537},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.24336573481559753},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.08146288990974426},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1145/3589334.3645615","is_oa":true,"landing_page_url":"https://doi.org/10.1145/3589334.3645615","pdf_url":null,"source":null,"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the ACM Web Conference 2024","raw_type":"proceedings-article"}],"best_oa_location":{"id":"doi:10.1145/3589334.3645615","is_oa":true,"landing_page_url":"https://doi.org/10.1145/3589334.3645615","pdf_url":null,"source":null,"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the ACM Web Conference 2024","raw_type":"proceedings-article"},"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":23,"referenced_works":["https://openalex.org/W2020666351","https://openalex.org/W2295598076","https://openalex.org/W2344786740","https://openalex.org/W2492794003","https://openalex.org/W2612690371","https://openalex.org/W2809515733","https://openalex.org/W2893230400","https://openalex.org/W2998034590","https://openalex.org/W3088545074","https://openalex.org/W3097267636","https://openalex.org/W3114374801","https://openalex.org/W3122727604","https://openalex.org/W3123329971","https://openalex.org/W3124639629","https://openalex.org/W3128855716","https://openalex.org/W3170487013","https://openalex.org/W3175835345","https://openalex.org/W4231546411","https://openalex.org/W4306317483","https://openalex.org/W4313156423","https://openalex.org/W4386071584","https://openalex.org/W4387188031","https://openalex.org/W6609822380"],"related_works":["https://openalex.org/W2072009250","https://openalex.org/W2737787254","https://openalex.org/W2562309909","https://openalex.org/W2239435718","https://openalex.org/W2341478340","https://openalex.org/W116353426","https://openalex.org/W2361103462","https://openalex.org/W3215490226","https://openalex.org/W4230648522","https://openalex.org/W2391863029"],"abstract_inverted_index":{"Portfolio":[0],"management":[1],"(PM)":[2],"is":[3,53,189,243],"a":[4,109,132,149,158,179,186],"fundamental":[5],"financial":[6,41,234],"trading":[7],"task,":[8],"which":[9,52,92,116],"explores":[10],"the":[11,60,113,163,166,169,193,201,204,216],"optimal":[12],"periodical":[13],"reallocation":[14],"of":[15,64,112,165,215,231],"capitals":[16],"into":[17],"different":[18,65],"stocks":[19,82,167,198,202],"to":[20,32,70,85,94,103,118,140,160,191],"pursue":[21],"long-term":[22],"profits.":[23],"Reinforcement":[24],"learning":[25],"(RL)":[26],"has":[27],"recently":[28],"shown":[29],"its":[30],"potential":[31],"train":[33],"profitable":[34],"agents":[35,106],"for":[36],"PM":[37,142],"through":[38,145,178],"interacting":[39],"with":[40,55,108,136,143,236],"markets.":[42],"However,":[43],"existing":[44],"work":[45],"mostly":[46],"focuses":[47],"on":[48,73,196,210,240],"fixed":[49],"stock":[50,62,96,114,151,176,213,218],"pools,":[51],"inconsistent":[54],"investors'":[56],"practical":[57],"demand.":[58],"Specifically,":[59,154],"target":[61,170,205],"pool":[63,152],"investors":[66,78],"varies":[67],"dramatically":[68],"due":[69],"their":[71],"discrepancy":[72],"market":[74],"states":[75],"and":[76,122,182,199],"individual":[77],"may":[79],"temporally":[80],"adjust":[81],"they":[83],"desire":[84],"trade":[86],"(e.g.,":[87],"adding":[88],"one":[89],"popular":[90,233],"stocks),":[91],"lead":[93],"customizable":[95],"pools":[97,214],"(CSPs).":[98],"Existing":[99],"RL":[100,105],"methods":[101],"require":[102],"retrain":[104],"even":[107],"tiny":[110],"change":[111],"pool,":[115],"leads":[117],"high":[119],"computational":[120],"cost":[121],"unstable":[123],"performance.":[124],"To":[125],"tackle":[126],"this":[127],"challenge,":[128],"we":[129,155,173,220],"propose":[130],"EarnMore,":[131],"rEinforcement":[133],"leARNing":[134],"framework":[135],"Maskable":[137],"stOck":[138],"REpresentation":[139],"handle":[141],"CSPs":[144],"one-shot":[146],"training":[147],"in":[148,229,245],"global":[150],"(GSP).":[153],"first":[156],"introduce":[157],"mechanism":[159,188],"mask":[161],"out":[162],"representation":[164],"outside":[168,203],"pool.":[171,206],"Second,":[172],"learn":[174],"meaningful":[175],"representations":[177],"self-supervised":[180],"masking":[181],"reconstruction":[183],"process.":[184],"Third,":[185],"re-weighting":[187],"designed":[190],"make":[192],"portfolio":[194],"concentrate":[195],"favorable":[197],"neglect":[200],"Through":[207],"extensive":[208],"experiments":[209],"8":[211],"subset":[212],"US":[217],"market,":[219],"demonstrate":[221],"that":[222],"EarnMore":[223],"significantly":[224],"outperforms":[225],"14":[226],"state-of-the-art":[227],"baselines":[228],"terms":[230],"6":[232],"metrics":[235],"over":[237],"40%":[238],"improvement":[239],"profit.":[241],"Code":[242],"available":[244],"PyTorch1.":[246]},"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":8},{"year":2024,"cited_by_count":2}],"updated_date":"2026-08-08T01:25:22.217667","created_date":"2025-10-10T00:00:00"}
