Daily Papers

Over the last few years, machine learning based methods have been applied to extract information from news flow in the financial domain. However, this information has mostly been in the form of the financial sentiments contained in the news headlines, primarily for the stock prices. In our current work, we propose that various other dimensions of information can be extracted from news headlines, which will be of interest to investors, policy-makers and other practitioners. We propose a framework that extracts information such as past movements and expected directionality in prices, asset comparison and other general information that the news is referring to. We apply this framework to the commodity "Gold" and train the machine learning models using a dataset of 11,412 human-annotated news headlines (released with this study), collected from the period 2000-2019. We experiment to validate the causal effect of news flow on gold prices and observe that the information produced from our framework significantly impacts the future gold price.

Financial asset recommendation (FAR) is a sub-domain of recommender systems which identifies useful financial securities for investors, with the expectation that they will invest capital on the recommended assets. FAR solutions analyse and learn from multiple data sources, including time series pricing data, customer profile information and expectations, as well as past investments. However, most models have been developed over proprietary datasets, making a comparison over a common benchmark impossible. In this paper, we aim to solve this problem by introducing FAR-Trans, the first public dataset for FAR, containing pricing information and retail investor transactions acquired from a large European financial institution. We also provide a bench-marking comparison between eleven FAR algorithms over the data for use as future baselines. The dataset can be downloaded from https://doi.org/10.5525/gla.researchdata.1658 .

Accurate mapping of the built asset information to established data classification systems and taxonomies is crucial for effective asset management, whether for compliance at project handover or ad-hoc data integration scenarios. Due to the complex nature of built asset data, which predominantly comprises technical text elements, this process remains largely manual and reliant on domain expert input. Recent breakthroughs in contextual text representation learning (text embedding), particularly through pre-trained large language models, offer promising approaches that can facilitate the automation of cross-mapping of the built asset data. However, no comprehensive evaluation has yet been conducted to assess these models' ability to effectively represent the complex semantics specific to built asset technical terminology. This study presents a comparative benchmark of state-of-the-art text embedding models to evaluate their effectiveness in aligning built asset information with domain-specific technical concepts. Our proposed datasets are derived from two renowned built asset data classification dictionaries. The results of our benchmarking across six proposed datasets, covering three tasks of clustering, retrieval, and reranking, highlight the need for future research on domain adaptation techniques. The benchmarking resources are published as an open-source library, which will be maintained and extended to support future evaluations in this field.

Quantifying the similarity between a group of companies has proven to be useful for several purposes, including company benchmarking, fraud detection, and searching for investment opportunities. This exercise can be done using a variety of data sources, such as company activity data and financial data. However, ledger account data is widely available and is standardized to a large extent. Such ledger accounts within a financial statement can be represented by means of a tree, i.e. a special type of graph, representing both the values of the ledger accounts and the relationships between them. Given their broad availability and rich information content, financial statements form a prime data source based on which company similarities or distances could be computed. In this paper, we present a graph distance metric that enables one to compute the similarity between the financial statements of two companies. We conduct a comprehensive experimental study using real-world financial data to demonstrate the usefulness of our proposed distance metric. The experimental results show promising results on a number of use cases. This method may be useful for investors looking for investment opportunities, government officials attempting to identify fraudulent companies, and accountants looking to benchmark a group of companies based on their financial statements.

In order to simplify a sentence, human editors perform multiple rewriting transformations: they split it into several shorter sentences, paraphrase words (i.e. replacing complex words or phrases by simpler synonyms), reorder components, and/or delete information deemed unnecessary. Despite these varied range of possible text alterations, current models for automatic sentence simplification are evaluated using datasets that are focused on a single transformation, such as lexical paraphrasing or splitting. This makes it impossible to understand the ability of simplification models in more realistic settings. To alleviate this limitation, this paper introduces ASSET, a new dataset for assessing sentence simplification in English. ASSET is a crowdsourced multi-reference corpus where each simplification was produced by executing several rewriting transformations. Through quantitative and qualitative experiments, we show that simplifications in ASSET are better at capturing characteristics of simplicity when compared to other standard evaluation datasets for the task. Furthermore, we motivate the need for developing better methods for automatic evaluation using ASSET, since we show that current popular metrics may not be suitable when multiple simplification transformations are performed.

This paper introduces a novel approach to financial risk analysis that does not rely on traditional price and market data, instead using market news to model assets as distributions over a metric space of risk factors. By representing asset returns as integrals over the scalar field of these risk factors, we derive the covariance structure between asset returns. Utilizing encoder-only language models to embed this news data, we explore the relationships between asset return distributions through the concept of Energy Distance, establishing connections between distributional differences and excess returns co-movements. This data-agnostic approach provides new insights into portfolio diversification, risk management, and the construction of hedging strategies. Our findings have significant implications for both theoretical finance and practical risk management, offering a more robust framework for modelling complex financial systems without depending on conventional market data.

The study proposes a quote-driven predictive automated market maker (AMM) platform with on-chain custody and settlement functions, alongside off-chain predictive reinforcement learning capabilities to improve liquidity provision of real-world AMMs. The proposed AMM architecture is an augmentation to the Uniswap V3, a cryptocurrency AMM protocol, by utilizing a novel market equilibrium pricing for reduced divergence and slippage loss. Further, the proposed architecture involves a predictive AMM capability, utilizing a deep hybrid Long Short-Term Memory (LSTM) and Q-learning reinforcement learning framework that looks to improve market efficiency through better forecasts of liquidity concentration ranges, so liquidity starts moving to expected concentration ranges, prior to asset price movement, so that liquidity utilization is improved. The augmented protocol framework is expected have practical real-world implications, by (i) reducing divergence loss for liquidity providers, (ii) reducing slippage for crypto-asset traders, while (iii) improving capital efficiency for liquidity provision for the AMM protocol. To our best knowledge, there are no known protocol or literature that are proposing similar deep learning-augmented AMM that achieves similar capital efficiency and loss minimization objectives for practical real-world applications.

The increasing demand for high-quality 3D assets across various industries necessitates efficient and automated 3D content creation. Despite recent advancements in 3D generative models, existing methods still face challenges with optimization speed, geometric fidelity, and the lack of assets for physically based rendering (PBR). In this paper, we introduce 3DTopia-XL, a scalable native 3D generative model designed to overcome these limitations. 3DTopia-XL leverages a novel primitive-based 3D representation, PrimX, which encodes detailed shape, albedo, and material field into a compact tensorial format, facilitating the modeling of high-resolution geometry with PBR assets. On top of the novel representation, we propose a generative framework based on Diffusion Transformer (DiT), which comprises 1) Primitive Patch Compression, 2) and Latent Primitive Diffusion. 3DTopia-XL learns to generate high-quality 3D assets from textual or visual inputs. We conduct extensive qualitative and quantitative experiments to demonstrate that 3DTopia-XL significantly outperforms existing methods in generating high-quality 3D assets with fine-grained textures and materials, efficiently bridging the quality gap between generative models and real-world applications.

Diffusion models have achieved great success in generating 2D images. However, the quality and generalizability of 3D content generation remain limited. State-of-the-art methods often require large-scale 3D assets for training, which are challenging to collect. In this work, we introduce Kiss3DGen (Keep It Simple and Straightforward in 3D Generation), an efficient framework for generating, editing, and enhancing 3D objects by repurposing a well-trained 2D image diffusion model for 3D generation. Specifically, we fine-tune a diffusion model to generate ''3D Bundle Image'', a tiled representation composed of multi-view images and their corresponding normal maps. The normal maps are then used to reconstruct a 3D mesh, and the multi-view images provide texture mapping, resulting in a complete 3D model. This simple method effectively transforms the 3D generation problem into a 2D image generation task, maximizing the utilization of knowledge in pretrained diffusion models. Furthermore, we demonstrate that our Kiss3DGen model is compatible with various diffusion model techniques, enabling advanced features such as 3D editing, mesh and texture enhancement, etc. Through extensive experiments, we demonstrate the effectiveness of our approach, showcasing its ability to produce high-quality 3D models efficiently.

This paper introduces "Shai" a 10B level large language model specifically designed for the asset management industry, built upon an open-source foundational model. With continuous pre-training and fine-tuning using a targeted corpus, Shai demonstrates enhanced performance in tasks relevant to its domain, outperforming baseline models. Our research includes the development of an innovative evaluation framework, which integrates professional qualification exams, tailored tasks, open-ended question answering, and safety assessments, to comprehensively assess Shai's capabilities. Furthermore, we discuss the challenges and implications of utilizing large language models like GPT-4 for performance assessment in asset management, suggesting a combination of automated evaluation and human judgment. Shai's development, showcasing the potential and versatility of 10B-level large language models in the financial sector with significant performance and modest computational requirements, hopes to provide practical insights and methodologies to assist industry peers in their similar endeavors.

Institutional investors have been increasing the allocation of the illiquid alternative assets such as private equity funds in their portfolios, yet there exists a very limited literature on cash flow forecasting of illiquid alternative assets. The net cash flow of private equity funds typically follow a J-curve pattern, however the timing and the size of the contributions and distributions depend on the investment opportunities. In this paper, we develop a benchmark model and present two novel approaches (direct vs. indirect) to predict the cash flows of private equity funds. We introduce a sliding window approach to apply on our cash flow data because different vintage year funds contain different lengths of cash flow information. We then pass the data to an LSTM/ GRU model to predict the future cash flows either directly or indirectly (based on the benchmark model). We further integrate macroeconomic indicators into our data, which allows us to consider the impact of market environment on cash flows and to apply stress testing. Our results indicate that the direct model is easier to implement compared to the benchmark model and the indirect model, but still the predicted cash flows align better with the actual cash flows. We also show that macroeconomic variables improve the performance of the direct model whereas the impact is not obvious on the indirect model.

We introduce Edify 3D, an advanced solution designed for high-quality 3D asset generation. Our method first synthesizes RGB and surface normal images of the described object at multiple viewpoints using a diffusion model. The multi-view observations are then used to reconstruct the shape, texture, and PBR materials of the object. Our method can generate high-quality 3D assets with detailed geometry, clean shape topologies, high-resolution textures, and materials within 2 minutes of runtime.

Reconstructing 3D objects from a single image guided by pretrained diffusion models has demonstrated promising outcomes. However, due to utilizing the case-agnostic rigid strategy, their generalization ability to arbitrary cases and the 3D consistency of reconstruction are still poor. In this work, we propose Consistent123, a case-aware two-stage method for highly consistent 3D asset reconstruction from one image with both 2D and 3D diffusion priors. In the first stage, Consistent123 utilizes only 3D structural priors for sufficient geometry exploitation, with a CLIP-based case-aware adaptive detection mechanism embedded within this process. In the second stage, 2D texture priors are introduced and progressively take on a dominant guiding role, delicately sculpting the details of the 3D model. Consistent123 aligns more closely with the evolving trends in guidance requirements, adaptively providing adequate 3D geometric initialization and suitable 2D texture refinement for different objects. Consistent123 can obtain highly 3D-consistent reconstruction and exhibits strong generalization ability across various objects. Qualitative and quantitative experiments show that our method significantly outperforms state-of-the-art image-to-3D methods. See https://Consistent123.github.io for a more comprehensive exploration of our generated 3D assets.

Procedural Content Generation (PCG) is powerful in creating high-quality 3D contents, yet controlling it to produce desired shapes is difficult and often requires extensive parameter tuning. Inverse Procedural Content Generation aims to automatically find the best parameters under the input condition. However, existing sampling-based and neural network-based methods still suffer from numerous sample iterations or limited controllability. In this work, we present DI-PCG, a novel and efficient method for Inverse PCG from general image conditions. At its core is a lightweight diffusion transformer model, where PCG parameters are directly treated as the denoising target and the observed images as conditions to control parameter generation. DI-PCG is efficient and effective. With only 7.6M network parameters and 30 GPU hours to train, it demonstrates superior performance in recovering parameters accurately, and generalizing well to in-the-wild images. Quantitative and qualitative experiment results validate the effectiveness of DI-PCG in inverse PCG and image-to-3D generation tasks. DI-PCG offers a promising approach for efficient inverse PCG and represents a valuable exploration step towards a 3D generation path that models how to construct a 3D asset using parametric models.

Generating 3D vehicle assets from in-the-wild observations is crucial to autonomous driving. Existing image-to-3D methods cannot well address this problem because they learn generation merely from image RGB information without a deeper understanding of in-the-wild vehicles (such as car models, manufacturers, etc.). This leads to their poor zero-shot prediction capability to handle real-world observations with occlusion or tricky viewing angles. To solve this problem, in this work, we propose VQA-Diff, a novel framework that leverages in-the-wild vehicle images to create photorealistic 3D vehicle assets for autonomous driving. VQA-Diff exploits the real-world knowledge inherited from the Large Language Model in the Visual Question Answering (VQA) model for robust zero-shot prediction and the rich image prior knowledge in the Diffusion model for structure and appearance generation. In particular, we utilize a multi-expert Diffusion Models strategy to generate the structure information and employ a subject-driven structure-controlled generation mechanism to model appearance information. As a result, without the necessity to learn from a large-scale image-to-3D vehicle dataset collected from the real world, VQA-Diff still has a robust zero-shot image-to-novel-view generation ability. We conduct experiments on various datasets, including Pascal 3D+, Waymo, and Objaverse, to demonstrate that VQA-Diff outperforms existing state-of-the-art methods both qualitatively and quantitatively.

Stock price prediction is a challenging task and a lot of propositions exist in the literature in this area. Portfolio construction is a process of choosing a group of stocks and investing in them optimally to maximize the return while minimizing the risk. Since the time when Markowitz proposed the Modern Portfolio Theory, several advancements have happened in the area of building efficient portfolios. An investor can get the best benefit out of the stock market if the investor invests in an efficient portfolio and could take the buy or sell decision in advance, by estimating the future asset value of the portfolio with a high level of precision. In this project, we have built an efficient portfolio and to predict the future asset value by means of individual stock price prediction of the stocks in the portfolio. As part of building an efficient portfolio we have studied multiple portfolio optimization methods beginning with the Modern Portfolio theory. We have built the minimum variance portfolio and optimal risk portfolio for all the five chosen sectors by using past daily stock prices over the past five years as the training data, and have also conducted back testing to check the performance of the portfolio. A comparative study of minimum variance portfolio and optimal risk portfolio with equal weight portfolio is done by backtesting.

We propose a novel approach for analysis of the composition of an equity mutual fund based on the time series decomposition of the price movements of the individual stocks of the fund. The proposed scheme can be applied to check whether the style proclaimed for a mutual fund actually matches with the fund composition. We have applied our proposed framework on eight well known mutual funds of varying styles in the Indian financial market to check the consistency between their fund style and actual fund composition, and have obtained extensive results from our experiments. A detailed analysis of the results has shown that while in majority of the cases the actual allocations of funds are consistent with the corresponding fund styles, there have been some notable deviations too.

Despite recent advances in text-to-3D generative methods, there is a notable absence of reliable evaluation metrics. Existing metrics usually focus on a single criterion each, such as how well the asset aligned with the input text. These metrics lack the flexibility to generalize to different evaluation criteria and might not align well with human preferences. Conducting user preference studies is an alternative that offers both adaptability and human-aligned results. User studies, however, can be very expensive to scale. This paper presents an automatic, versatile, and human-aligned evaluation metric for text-to-3D generative models. To this end, we first develop a prompt generator using GPT-4V to generate evaluating prompts, which serve as input to compare text-to-3D models. We further design a method instructing GPT-4V to compare two 3D assets according to user-defined criteria. Finally, we use these pairwise comparison results to assign these models Elo ratings. Experimental results suggest our metric strongly align with human preference across different evaluation criteria.

Comparative settings (e.g. pairwise choice, listwise ranking) have been adopted by a wide range of subjective studies for image quality assessment (IQA), as it inherently standardizes the evaluation criteria across different observers and offer more clear-cut responses. In this work, we extend the edge of emerging large multi-modality models (LMMs) to further advance visual quality comparison into open-ended settings, that 1) can respond to open-range questions on quality comparison; 2) can provide detailed reasonings beyond direct answers. To this end, we propose the Co-Instruct. To train this first-of-its-kind open-source open-ended visual quality comparer, we collect the Co-Instruct-562K dataset, from two sources: (a) LMM-merged single image quality description, (b) GPT-4V "teacher" responses on unlabeled data. Furthermore, to better evaluate this setting, we propose the MICBench, the first benchmark on multi-image comparison for LMMs. We demonstrate that Co-Instruct not only achieves 30% higher superior accuracy than state-of-the-art open-source LMMs, but also outperforms GPT-4V (its teacher), on both existing related benchmarks and the proposed MICBench. Our model is published at https://huggingface.co/q-future/co-instruct.

Estimating the difficulty of a dataset typically involves comparing state-of-the-art models to humans; the bigger the performance gap, the harder the dataset is said to be. However, this comparison provides little understanding of how difficult each instance in a given distribution is, or what attributes make the dataset difficult for a given model. To address these questions, we frame dataset difficulty -- w.r.t. a model V -- as the lack of V-usable information (Xu et al., 2019), where a lower value indicates a more difficult dataset for V. We further introduce pointwise \mathcal{V-information} (PVI) for measuring the difficulty of individual instances w.r.t. a given distribution. While standard evaluation metrics typically only compare different models for the same dataset, V-usable information and PVI also permit the converse: for a given model V, we can compare different datasets, as well as different instances/slices of the same dataset. Furthermore, our framework allows for the interpretability of different input attributes via transformations of the input, which we use to discover annotation artefacts in widely-used NLP benchmarks.

This paper presents a comparative analysis of the performances of three portfolio optimization approaches. Three approaches of portfolio optimization that are considered in this work are the mean-variance portfolio (MVP), hierarchical risk parity (HRP) portfolio, and reinforcement learning-based portfolio. The portfolios are trained and tested over several stock data and their performances are compared on their annual returns, annual risks, and Sharpe ratios. In the reinforcement learning-based portfolio design approach, the deep Q learning technique has been utilized. Due to the large number of possible states, the construction of the Q-table is done using a deep neural network. The historical prices of the 50 premier stocks from the Indian stock market, known as the NIFTY50 stocks, and several stocks from 10 important sectors of the Indian stock market are used to create the environment for training the agent.

Neural Architecture Search (NAS) is an exciting new field which promises to be as much as a game-changer as Convolutional Neural Networks were in 2012. Despite many great works leading to substantial improvements on a variety of tasks, comparison between different methods is still very much an open issue. While most algorithms are tested on the same datasets, there is no shared experimental protocol followed by all. As such, and due to the under-use of ablation studies, there is a lack of clarity regarding why certain methods are more effective than others. Our first contribution is a benchmark of 8 NAS methods on 5 datasets. To overcome the hurdle of comparing methods with different search spaces, we propose using a method's relative improvement over the randomly sampled average architecture, which effectively removes advantages arising from expertly engineered search spaces or training protocols. Surprisingly, we find that many NAS techniques struggle to significantly beat the average architecture baseline. We perform further experiments with the commonly used DARTS search space in order to understand the contribution of each component in the NAS pipeline. These experiments highlight that: (i) the use of tricks in the evaluation protocol has a predominant impact on the reported performance of architectures; (ii) the cell-based search space has a very narrow accuracy range, such that the seed has a considerable impact on architecture rankings; (iii) the hand-designed macro-structure (cells) is more important than the searched micro-structure (operations); and (iv) the depth-gap is a real phenomenon, evidenced by the change in rankings between 8 and 20 cell architectures. To conclude, we suggest best practices, that we hope will prove useful for the community and help mitigate current NAS pitfalls. The code used is available at https://github.com/antoyang/NAS-Benchmark.

While recent advancements in large multimodal models (LMMs) have significantly improved their abilities in image quality assessment (IQA) relying on absolute quality rating, how to transfer reliable relative quality comparison outputs to continuous perceptual quality scores remains largely unexplored. To address this gap, we introduce Compare2Score-an all-around LMM-based no-reference IQA (NR-IQA) model, which is capable of producing qualitatively comparative responses and effectively translating these discrete comparative levels into a continuous quality score. Specifically, during training, we present to generate scaled-up comparative instructions by comparing images from the same IQA dataset, allowing for more flexible integration of diverse IQA datasets. Utilizing the established large-scale training corpus, we develop a human-like visual quality comparator. During inference, moving beyond binary choices, we propose a soft comparison method that calculates the likelihood of the test image being preferred over multiple predefined anchor images. The quality score is further optimized by maximum a posteriori estimation with the resulting probability matrix. Extensive experiments on nine IQA datasets validate that the Compare2Score effectively bridges text-defined comparative levels during training with converted single image quality score for inference, surpassing state-of-the-art IQA models across diverse scenarios. Moreover, we verify that the probability-matrix-based inference conversion not only improves the rating accuracy of Compare2Score but also zero-shot general-purpose LMMs, suggesting its intrinsic effectiveness.

Traditional document similarity measures provide a coarse-grained distinction between similar and dissimilar documents. Typically, they do not consider in what aspects two documents are similar. This limits the granularity of applications like recommender systems that rely on document similarity. In this paper, we extend similarity with aspect information by performing a pairwise document classification task. We evaluate our aspect-based document similarity for research papers. Paper citations indicate the aspect-based similarity, i.e., the section title in which a citation occurs acts as a label for the pair of citing and cited paper. We apply a series of Transformer models such as RoBERTa, ELECTRA, XLNet, and BERT variations and compare them to an LSTM baseline. We perform our experiments on two newly constructed datasets of 172,073 research paper pairs from the ACL Anthology and CORD-19 corpus. Our results show SciBERT as the best performing system. A qualitative examination validates our quantitative results. Our findings motivate future research of aspect-based document similarity and the development of a recommender system based on the evaluated techniques. We make our datasets, code, and trained models publicly available.

As large language models are integrated into society, robustness toward a suite of prompts is increasingly important to maintain reliability in a high-variance environment.Robustness evaluations must comprehensively encapsulate the various settings in which a user may invoke an intelligent system. This paper proposes ASSERT, Automated Safety Scenario Red Teaming, consisting of three methods -- semantically aligned augmentation, target bootstrapping, and adversarial knowledge injection. For robust safety evaluation, we apply these methods in the critical domain of AI safety to algorithmically generate a test suite of prompts covering diverse robustness settings -- semantic equivalence, related scenarios, and adversarial. We partition our prompts into four safety domains for a fine-grained analysis of how the domain affects model performance. Despite dedicated safeguards in existing state-of-the-art models, we find statistically significant performance differences of up to 11% in absolute classification accuracy among semantically related scenarios and error rates of up to 19% absolute error in zero-shot adversarial settings, raising concerns for users' physical safety.

We address the problem of multi-object 3D pose control in image diffusion models. Instead of conditioning on a sequence of text tokens, we propose to use a set of per-object representations, Neural Assets, to control the 3D pose of individual objects in a scene. Neural Assets are obtained by pooling visual representations of objects from a reference image, such as a frame in a video, and are trained to reconstruct the respective objects in a different image, e.g., a later frame in the video. Importantly, we encode object visuals from the reference image while conditioning on object poses from the target frame. This enables learning disentangled appearance and pose features. Combining visual and 3D pose representations in a sequence-of-tokens format allows us to keep the text-to-image architecture of existing models, with Neural Assets in place of text tokens. By fine-tuning a pre-trained text-to-image diffusion model with this information, our approach enables fine-grained 3D pose and placement control of individual objects in a scene. We further demonstrate that Neural Assets can be transferred and recomposed across different scenes. Our model achieves state-of-the-art multi-object editing results on both synthetic 3D scene datasets, as well as two real-world video datasets (Objectron, Waymo Open).

Both indoor and outdoor environments are inherently structured and repetitive. Traditional modeling pipelines keep an asset library storing unique object templates, which is both versatile and memory efficient in practice. Inspired by this observation, we propose AssetField, a novel neural scene representation that learns a set of object-aware ground feature planes to represent the scene, where an asset library storing template feature patches can be constructed in an unsupervised manner. Unlike existing methods which require object masks to query spatial points for object editing, our ground feature plane representation offers a natural visualization of the scene in the bird-eye view, allowing a variety of operations (e.g. translation, duplication, deformation) on objects to configure a new scene. With the template feature patches, group editing is enabled for scenes with many recurring items to avoid repetitive work on object individuals. We show that AssetField not only achieves competitive performance for novel-view synthesis but also generates realistic renderings for new scene configurations.

What is an image and how to extract latent features? Convolutional Networks (ConvNets) consider an image as organized pixels in a rectangular shape and extract features via convolutional operation in local region; Vision Transformers (ViTs) treat an image as a sequence of patches and extract features via attention mechanism in a global range. In this work, we introduce a straightforward and promising paradigm for visual representation, which is called Context Clusters. Context clusters (CoCs) view an image as a set of unorganized points and extract features via simplified clustering algorithm. In detail, each point includes the raw feature (e.g., color) and positional information (e.g., coordinates), and a simplified clustering algorithm is employed to group and extract deep features hierarchically. Our CoCs are convolution- and attention-free, and only rely on clustering algorithm for spatial interaction. Owing to the simple design, we show CoCs endow gratifying interpretability via the visualization of clustering process. Our CoCs aim at providing a new perspective on image and visual representation, which may enjoy broad applications in different domains and exhibit profound insights. Even though we are not targeting SOTA performance, COCs still achieve comparable or even better results than ConvNets or ViTs on several benchmarks. Codes are available at: https://github.com/ma-xu/Context-Cluster.

Designing an optimum portfolio for allocating suitable weights to its constituent assets so that the return and risk associated with the portfolio are optimized is a computationally hard problem. The seminal work of Markowitz that attempted to solve the problem by estimating the future returns of the stocks is found to perform sub-optimally on real-world stock market data. This is because the estimation task becomes extremely challenging due to the stochastic and volatile nature of stock prices. This work illustrates three approaches to portfolio design minimizing the risk, optimizing the risk, and assigning equal weights to the stocks of a portfolio. Thirteen critical sectors listed on the National Stock Exchange (NSE) of India are first chosen. Three portfolios are designed following the above approaches choosing the top ten stocks from each sector based on their free-float market capitalization. The portfolios are designed using the historical prices of the stocks from Jan 1, 2017, to Dec 31, 2022. The portfolios are evaluated on the stock price data from Jan 1, 2022, to Dec 31, 2022. The performances of the portfolios are compared, and the portfolio yielding the higher return for each sector is identified.

Building predictive models for robust and accurate prediction of stock prices and stock price movement is a challenging research problem to solve. The well-known efficient market hypothesis believes in the impossibility of accurate prediction of future stock prices in an efficient stock market as the stock prices are assumed to be purely stochastic. However, numerous works proposed by researchers have demonstrated that it is possible to predict future stock prices with a high level of precision using sophisticated algorithms, model architectures, and the selection of appropriate variables in the models. This chapter proposes a collection of predictive regression models built on deep learning architecture for robust and precise prediction of the future prices of a stock listed in the diversified sectors in the National Stock Exchange (NSE) of India. The Metastock tool is used to download the historical stock prices over a period of two years (2013- 2014) at 5 minutes intervals. While the records for the first year are used to train the models, the testing is carried out using the remaining records. The design approaches of all the models and their performance results are presented in detail. The models are also compared based on their execution time and accuracy of prediction.

Real-world applications often require a large gallery of 3D assets that share a consistent theme. While remarkable advances have been made in general 3D content creation from text or image, synthesizing customized 3D assets following the shared theme of input 3D exemplars remains an open and challenging problem. In this work, we present ThemeStation, a novel approach for theme-aware 3D-to-3D generation. ThemeStation synthesizes customized 3D assets based on given few exemplars with two goals: 1) unity for generating 3D assets that thematically align with the given exemplars and 2) diversity for generating 3D assets with a high degree of variations. To this end, we design a two-stage framework that draws a concept image first, followed by a reference-informed 3D modeling stage. We propose a novel dual score distillation (DSD) loss to jointly leverage priors from both the input exemplars and the synthesized concept image. Extensive experiments and user studies confirm that ThemeStation surpasses prior works in producing diverse theme-aware 3D models with impressive quality. ThemeStation also enables various applications such as controllable 3D-to-3D generation.

Recent advances in 3D AIGC have shown promise in directly creating 3D objects from text and images, offering significant cost savings in animation and product design. However, detailed edit and customization of 3D assets remains a long-standing challenge. Specifically, 3D Generation methods lack the ability to follow finely detailed instructions as precisely as their 2D image creation counterparts. Imagine you can get a toy through 3D AIGC but with undesired accessories and dressing. To tackle this challenge, we propose a novel pipeline called Tailor3D, which swiftly creates customized 3D assets from editable dual-side images. We aim to emulate a tailor's ability to locally change objects or perform overall style transfer. Unlike creating 3D assets from multiple views, using dual-side images eliminates conflicts on overlapping areas that occur when editing individual views. Specifically, it begins by editing the front view, then generates the back view of the object through multi-view diffusion. Afterward, it proceeds to edit the back views. Finally, a Dual-sided LRM is proposed to seamlessly stitch together the front and back 3D features, akin to a tailor sewing together the front and back of a garment. The Dual-sided LRM rectifies imperfect consistencies between the front and back views, enhancing editing capabilities and reducing memory burdens while seamlessly integrating them into a unified 3D representation with the LoRA Triplane Transformer. Experimental results demonstrate Tailor3D's effectiveness across various 3D generation and editing tasks, including 3D generative fill and style transfer. It provides a user-friendly, efficient solution for editing 3D assets, with each editing step taking only seconds to complete.

Generating high-quality 3D assets from a given image is highly desirable in various applications such as AR/VR. Recent advances in single-image 3D generation explore feed-forward models that learn to infer the 3D model of an object without optimization. Though promising results have been achieved in single object generation, these methods often struggle to model complex 3D assets that inherently contain multiple objects. In this work, we present ComboVerse, a 3D generation framework that produces high-quality 3D assets with complex compositions by learning to combine multiple models. 1) We first perform an in-depth analysis of this ``multi-object gap'' from both model and data perspectives. 2) Next, with reconstructed 3D models of different objects, we seek to adjust their sizes, rotation angles, and locations to create a 3D asset that matches the given image. 3) To automate this process, we apply spatially-aware score distillation sampling (SSDS) from pretrained diffusion models to guide the positioning of objects. Our proposed framework emphasizes spatial alignment of objects, compared with standard score distillation sampling, and thus achieves more accurate results. Extensive experiments validate ComboVerse achieves clear improvements over existing methods in generating compositional 3D assets.

We present GALA, a framework that takes as input a single-layer clothed 3D human mesh and decomposes it into complete multi-layered 3D assets. The outputs can then be combined with other assets to create novel clothed human avatars with any pose. Existing reconstruction approaches often treat clothed humans as a single-layer of geometry and overlook the inherent compositionality of humans with hairstyles, clothing, and accessories, thereby limiting the utility of the meshes for downstream applications. Decomposing a single-layer mesh into separate layers is a challenging task because it requires the synthesis of plausible geometry and texture for the severely occluded regions. Moreover, even with successful decomposition, meshes are not normalized in terms of poses and body shapes, failing coherent composition with novel identities and poses. To address these challenges, we propose to leverage the general knowledge of a pretrained 2D diffusion model as geometry and appearance prior for humans and other assets. We first separate the input mesh using the 3D surface segmentation extracted from multi-view 2D segmentations. Then we synthesize the missing geometry of different layers in both posed and canonical spaces using a novel pose-guided Score Distillation Sampling (SDS) loss. Once we complete inpainting high-fidelity 3D geometry, we also apply the same SDS loss to its texture to obtain the complete appearance including the initially occluded regions. Through a series of decomposition steps, we obtain multiple layers of 3D assets in a shared canonical space normalized in terms of poses and human shapes, hence supporting effortless composition to novel identities and reanimation with novel poses. Our experiments demonstrate the effectiveness of our approach for decomposition, canonicalization, and composition tasks compared to existing solutions.

Synthesizing NeRFs under arbitrary lighting has become a seminal problem in the last few years. Recent efforts tackle the problem via the extraction of physically-based parameters that can then be rendered under arbitrary lighting, but they are limited in the range of scenes they can handle, usually mishandling glossy scenes. We propose RRM, a method that can extract the materials, geometry, and environment lighting of a scene even in the presence of highly reflective objects. Our method consists of a physically-aware radiance field representation that informs physically-based parameters, and an expressive environment light structure based on a Laplacian Pyramid. We demonstrate that our contributions outperform the state-of-the-art on parameter retrieval tasks, leading to high-fidelity relighting and novel view synthesis on surfacic scenes.

Rigorous and reproducible evaluation is critical for assessing the state of the art and for guiding scientific advances in Artificial Intelligence. Evaluation is challenging in practice due to several reasons, including benchmark saturation, lack of transparency in methods used for measurement, development challenges in extracting measurements for generative tasks, and, more generally, the extensive number of capabilities required for a well-rounded comparison across models. We make three contributions to alleviate the above challenges. First, we present Eureka, an open-source framework for standardizing evaluations of large foundation models beyond single-score reporting and rankings. Second, we introduce Eureka-Bench as an extensible collection of benchmarks testing capabilities that (i) are still challenging for state-of-the-art models and (ii) represent fundamental but overlooked language and multimodal capabilities. The inherent space for improvement in non-saturated benchmarks enables us to discover meaningful differences between models at a capability level. Third, using Eureka, we conduct an analysis of 12 state-of-the-art models, providing in-depth insights into failure understanding and model comparison, which can be leveraged to plan targeted improvements. In contrast to recent trends in reports and leaderboards showing absolute rankings and claims for one model or another to be the best, our analysis shows that there is no such best model. Different models have different strengths, but there are models that appear more often than others as best performers for some capabilities. Despite the recent improvements, current models still struggle with several fundamental capabilities including detailed image understanding, benefiting from multimodal input when available rather than fully relying on language, factuality and grounding for information retrieval, and over refusals.

As humans, we aspire to create media content that is both freely willed and readily controlled. Thanks to the prominent development of generative techniques, we now can easily utilize 2D diffusion methods to synthesize images controlled by raw sketch or designated human poses, and even progressively edit/regenerate local regions with masked inpainting. However, similar workflows in 3D modeling tasks are still unavailable due to the lack of controllability and efficiency in 3D generation. In this paper, we present a novel controllable and interactive 3D assets modeling framework, named Coin3D. Coin3D allows users to control the 3D generation using a coarse geometry proxy assembled from basic shapes, and introduces an interactive generation workflow to support seamless local part editing while delivering responsive 3D object previewing within a few seconds. To this end, we develop several techniques, including the 3D adapter that applies volumetric coarse shape control to the diffusion model, proxy-bounded editing strategy for precise part editing, progressive volume cache to support responsive preview, and volume-SDS to ensure consistent mesh reconstruction. Extensive experiments of interactive generation and editing on diverse shape proxies demonstrate that our method achieves superior controllability and flexibility in the 3D assets generation task.

What constitutes the "vibe" of a particular scene? What should one find in "a busy, dirty city street", "an idyllic countryside", or "a crime scene in an abandoned living room"? The translation from abstract scene descriptions to stylized scene elements cannot be done with any generality by extant systems trained on rigid and limited indoor datasets. In this paper, we propose to leverage the knowledge captured by foundation models to accomplish this translation. We present a system that can serve as a tool to generate stylized assets for 3D scenes described by a short phrase, without the need to enumerate the objects to be found within the scene or give instructions on their appearance. Additionally, it is robust to open-world concepts in a way that traditional methods trained on limited data are not, affording more creative freedom to the 3D artist. Our system demonstrates this using a foundation model "team" composed of a large language model, a vision-language model and several image diffusion models, which communicate using an interpretable and user-editable intermediate representation, thus allowing for more versatile and controllable stylized asset generation for 3D artists. We introduce novel metrics for this task, and show through human evaluations that in 91% of the cases, our system outputs are judged more faithful to the semantics of the input scene description than the baseline, thus highlighting the potential of this approach to radically accelerate the 3D content creation process for 3D artists.

Diffusion-based text-to-image models ignited immense attention from the vision community, artists, and content creators. Broad adoption of these models is due to significant improvement in the quality of generations and efficient conditioning on various modalities, not just text. However, lifting the rich generative priors of these 2D models into 3D is challenging. Recent works have proposed various pipelines powered by the entanglement of diffusion models and neural fields. We explore the power of pretrained 2D diffusion models and standard 3D neural radiance fields as independent, standalone tools and demonstrate their ability to work together in a non-learned fashion. Such modularity has the intrinsic advantage of eased partial upgrades, which became an important property in such a fast-paced domain. Our pipeline accepts any legacy renderable geometry, such as textured or untextured meshes, orchestrates the interaction between 2D generative refinement and 3D consistency enforcement tools, and outputs a painted input geometry in several formats. We conduct a large-scale study on a wide range of objects and categories from the ShapeNetSem dataset and demonstrate the advantages of our approach, both qualitatively and quantitatively. Project page: https://www.obukhov.ai/repainting_3d_assets

The generation of high-quality 3D car assets is essential for various applications, including video games, autonomous driving, and virtual reality. Current 3D generation methods utilizing NeRF or 3D-GS as representations for 3D objects, generate a Lambertian object under fixed lighting and lack separated modelings for material and global illumination. As a result, the generated assets are unsuitable for relighting under varying lighting conditions, limiting their applicability in downstream tasks. To address this challenge, we propose a novel relightable 3D object generative framework that automates the creation of 3D car assets, enabling the swift and accurate reconstruction of a vehicle's geometry, texture, and material properties from a single input image. Our approach begins with introducing a large-scale synthetic car dataset comprising over 1,000 high-precision 3D vehicle models. We represent 3D objects using global illumination and relightable 3D Gaussian primitives integrating with BRDF parameters. Building on this representation, we introduce a feed-forward model that takes images as input and outputs both relightable 3D Gaussians and global illumination parameters. Experimental results demonstrate that our method produces photorealistic 3D car assets that can be seamlessly integrated into road scenes with different illuminations, which offers substantial practical benefits for industrial applications.

Modeling the 3D world from sensor data for simulation is a scalable way of developing testing and validation environments for robotic learning problems such as autonomous driving. However, manually creating or re-creating real-world-like environments is difficult, expensive, and not scalable. Recent generative model techniques have shown promising progress to address such challenges by learning 3D assets using only plentiful 2D images -- but still suffer limitations as they leverage either human-curated image datasets or renderings from manually-created synthetic 3D environments. In this paper, we introduce GINA-3D, a generative model that uses real-world driving data from camera and LiDAR sensors to create realistic 3D implicit neural assets of diverse vehicles and pedestrians. Compared to the existing image datasets, the real-world driving setting poses new challenges due to occlusions, lighting-variations and long-tail distributions. GINA-3D tackles these challenges by decoupling representation learning and generative modeling into two stages with a learned tri-plane latent structure, inspired by recent advances in generative modeling of images. To evaluate our approach, we construct a large-scale object-centric dataset containing over 1.2M images of vehicles and pedestrians from the Waymo Open Dataset, and a new set of 80K images of long-tail instances such as construction equipment, garbage trucks, and cable cars. We compare our model with existing approaches and demonstrate that it achieves state-of-the-art performance in quality and diversity for both generated images and geometries.

We present a publicly-available toolkit of flight-proven hardware and software to retrieve 5 TB of data or small physical samples from a stratospheric balloon platform. Before launch, a capsule is attached to the balloon, and rises with it. Upon remote command, the capsule is released and descends via parachute, continuously transmitting its location. Software to predict the trajectory can be used to select a safe but accessible landing site. We dropped two such capsules from the SuperBIT telescope, in September 2019. The capsules took ~37 minutes to descend from ~30 km altitude. They drifted 32 km and 19 km horizontally, but landed within 300 m and 600 m of their predicted landing sites. We found them easily, and successfully recovered the data. We welcome interest from other balloon teams for whom the technology would be useful.

We present Hunyuan3D 2.0, an advanced large-scale 3D synthesis system for generating high-resolution textured 3D assets. This system includes two foundation components: a large-scale shape generation model -- Hunyuan3D-DiT, and a large-scale texture synthesis model -- Hunyuan3D-Paint. The shape generative model, built on a scalable flow-based diffusion transformer, aims to create geometry that properly aligns with a given condition image, laying a solid foundation for downstream applications. The texture synthesis model, benefiting from strong geometric and diffusion priors, produces high-resolution and vibrant texture maps for either generated or hand-crafted meshes. Furthermore, we build Hunyuan3D-Studio -- a versatile, user-friendly production platform that simplifies the re-creation process of 3D assets. It allows both professional and amateur users to manipulate or even animate their meshes efficiently. We systematically evaluate our models, showing that Hunyuan3D 2.0 outperforms previous state-of-the-art models, including the open-source models and closed-source models in geometry details, condition alignment, texture quality, and etc. Hunyuan3D 2.0 is publicly released in order to fill the gaps in the open-source 3D community for large-scale foundation generative models. The code and pre-trained weights of our models are available at: https://github.com/Tencent/Hunyuan3D-2

We present the Wildland-fire Infrared Thermal (WIT-UAS) dataset for long-wave infrared sensing of crew and vehicle assets amidst prescribed wildland fire environments. While such a dataset is crucial for safety monitoring in wildland fire applications, to the authors' awareness, no such dataset focusing on assets near fire is publicly available. Presumably, this is due to the barrier to entry of collaborating with fire management personnel. We present two related data subsets: WIT-UAS-ROS consists of full ROS bag files containing sensor and robot data of UAS flight over the fire, and WIT-UAS-Image contains hand-labeled long-wave infrared (LWIR) images extracted from WIT-UAS-ROS. Our dataset is the first to focus on asset detection in a wildland fire environment. We show that thermal detection models trained without fire data frequently detect false positives by classifying fire as people. By adding our dataset to training, we show that the false positive rate is reduced significantly. Yet asset detection in wildland fire environments is still significantly more challenging than detection in urban environments, due to dense obscuring trees, greater heat variation, and overbearing thermal signal of the fire. We publicize this dataset to encourage the community to study more advanced models to tackle this challenging environment. The dataset, code and pretrained models are available at https://github.com/castacks/WIT-UAS-Dataset.

In the realm of digital creativity, our potential to craft intricate 3D worlds from imagination is often hampered by the limitations of existing digital tools, which demand extensive expertise and efforts. To narrow this disparity, we introduce CLAY, a 3D geometry and material generator designed to effortlessly transform human imagination into intricate 3D digital structures. CLAY supports classic text or image inputs as well as 3D-aware controls from diverse primitives (multi-view images, voxels, bounding boxes, point clouds, implicit representations, etc). At its core is a large-scale generative model composed of a multi-resolution Variational Autoencoder (VAE) and a minimalistic latent Diffusion Transformer (DiT), to extract rich 3D priors directly from a diverse range of 3D geometries. Specifically, it adopts neural fields to represent continuous and complete surfaces and uses a geometry generative module with pure transformer blocks in latent space. We present a progressive training scheme to train CLAY on an ultra large 3D model dataset obtained through a carefully designed processing pipeline, resulting in a 3D native geometry generator with 1.5 billion parameters. For appearance generation, CLAY sets out to produce physically-based rendering (PBR) textures by employing a multi-view material diffusion model that can generate 2K resolution textures with diffuse, roughness, and metallic modalities. We demonstrate using CLAY for a range of controllable 3D asset creations, from sketchy conceptual designs to production ready assets with intricate details. Even first time users can easily use CLAY to bring their vivid 3D imaginations to life, unleashing unlimited creativity.

The choice of embedding model is a crucial step in the design of Retrieval Augmented Generation (RAG) systems. Given the sheer volume of available options, identifying clusters of similar models streamlines this model selection process. Relying solely on benchmark performance scores only allows for a weak assessment of model similarity. Thus, in this study, we evaluate the similarity of embedding models within the context of RAG systems. Our assessment is two-fold: We use Centered Kernel Alignment to compare embeddings on a pair-wise level. Additionally, as it is especially pertinent to RAG systems, we evaluate the similarity of retrieval results between these models using Jaccard and rank similarity. We compare different families of embedding models, including proprietary ones, across five datasets from the popular Benchmark Information Retrieval (BEIR). Through our experiments we identify clusters of models corresponding to model families, but interestingly, also some inter-family clusters. Furthermore, our analysis of top-k retrieval similarity reveals high-variance at low k values. We also identify possible open-source alternatives to proprietary models, with Mistral exhibiting the highest similarity to OpenAI models.

Creating test collections for offline retrieval evaluation requires human effort to judge documents' relevance. This expensive activity motivated much work in developing methods for constructing benchmarks with fewer assessment costs. In this respect, adjudication methods actively decide both which documents and the order in which experts review them, in order to better exploit the assessment budget or to lower it. Researchers evaluate the quality of those methods by measuring the correlation between the known gold ranking of systems under the full collection and the observed ranking of systems under the lower-cost one. This traditional analysis ignores whether and how the low-cost judgements impact on the statistically significant differences among systems with respect to the full collection. We fill this void by proposing a novel methodology to evaluate how the low-cost adjudication methods preserve the pairwise significant differences between systems as the full collection. In other terms, while traditional approaches look for stability in answering the question "is system A better than system B?", our proposed approach looks for stability in answering the question "is system A significantly better than system B?", which is the ultimate questions researchers need to answer to guarantee the generalisability of their results. Among other results, we found that the best methods in terms of ranking of systems correlation do not always match those preserving statistical significance.

Predicting market movements based on the sentiment of news media has a long tradition in data analysis. With advances in natural language processing, transformer architectures have emerged that enable contextually aware sentiment classification. Nevertheless, current methods built for the general financial market such as FinBERT cannot distinguish asset-specific value-driving factors. This paper addresses this shortcoming by presenting a method that identifies and classifies events that impact supply and demand in the crude oil markets within a large corpus of relevant news headlines. We then introduce CrudeBERT, a new sentiment analysis model that draws upon these events to contextualize and fine-tune FinBERT, thereby yielding improved sentiment classifications for headlines related to the crude oil futures market. An extensive evaluation demonstrates that CrudeBERT outperforms proprietary and open-source solutions in the domain of crude oil.

Portfolio optimization has been an area that has attracted considerable attention from the financial research community. Designing a profitable portfolio is a challenging task involving precise forecasting of future stock returns and risks. This chapter presents a comparative study of three portfolio design approaches, the mean-variance portfolio (MVP), hierarchical risk parity (HRP)-based portfolio, and autoencoder-based portfolio. These three approaches to portfolio design are applied to the historical prices of stocks chosen from ten thematic sectors listed on the National Stock Exchange (NSE) of India. The portfolios are designed using the stock price data from January 1, 2018, to December 31, 2021, and their performances are tested on the out-of-sample data from January 1, 2022, to December 31, 2022. Extensive results are analyzed on the performance of the portfolios. It is observed that the performance of the MVP portfolio is the best on the out-of-sample data for the risk-adjusted returns. However, the autoencoder portfolios outperformed their counterparts on annual returns.

Same-style products retrieval plays an important role in e-commerce platforms, aiming to identify the same products which may have different text descriptions or images. It can be used for similar products retrieval from different suppliers or duplicate products detection of one supplier. Common methods use the image as the detected object, but they only consider the visual features and overlook the attribute information contained in the textual descriptions, and perform weakly for products in image less important industries like machinery, hardware tools and electronic component, even if an additional text matching module is added. In this paper, we propose a unified vision-language modeling method for e-commerce same-style products retrieval, which is designed to represent one product with its textual descriptions and visual contents. It contains one sampling skill to collect positive pairs from user click log with category and relevance constrained, and a novel contrastive loss unit to model the image, text, and image+text representations into one joint embedding space. It is capable of cross-modal product-to-product retrieval, as well as style transfer and user-interactive search. Offline evaluations on annotated data demonstrate its superior retrieval performance, and online testings show it can attract more clicks and conversions. Moreover, this model has already been deployed online for similar products retrieval in alibaba.com, the largest B2B e-commerce platform in the world.

Although exact term match between queries and documents is the dominant method to perform first-stage retrieval, we propose a different approach, called RepBERT, to represent documents and queries with fixed-length contextualized embeddings. The inner products of query and document embeddings are regarded as relevance scores. On MS MARCO Passage Ranking task, RepBERT achieves state-of-the-art results among all initial retrieval techniques. And its efficiency is comparable to bag-of-words methods.

Learnable embedding vector is one of the most important applications in machine learning, and is widely used in various database-related domains. However, the high dimensionality of sparse data in recommendation tasks and the huge volume of corpus in retrieval-related tasks lead to a large memory consumption of the embedding table, which poses a great challenge to the training and deployment of models. Recent research has proposed various methods to compress the embeddings at the cost of a slight decrease in model quality or the introduction of other overheads. Nevertheless, the relative performance of these methods remains unclear. Existing experimental comparisons only cover a subset of these methods and focus on limited metrics. In this paper, we perform a comprehensive comparative analysis and experimental evaluation of embedding compression. We introduce a new taxonomy that categorizes these techniques based on their characteristics and methodologies, and further develop a modular benchmarking framework that integrates 14 representative methods. Under a uniform test environment, our benchmark fairly evaluates each approach, presents their strengths and weaknesses under different memory budgets, and recommends the best method based on the use case. In addition to providing useful guidelines, our study also uncovers the limitations of current methods and suggests potential directions for future research.

Designing an optimum portfolio that allocates weights to its constituent stocks in a way that achieves the best trade-off between the return and the risk is a challenging research problem. The classical mean-variance theory of portfolio proposed by Markowitz is found to perform sub-optimally on the real-world stock market data since the error in estimation for the expected returns adversely affects the performance of the portfolio. This paper presents three approaches to portfolio design, viz, the minimum risk portfolio, the optimum risk portfolio, and the Eigen portfolio, for seven important sectors of the Indian stock market. The daily historical prices of the stocks are scraped from Yahoo Finance website from January 1, 2016, to December 31, 2020. Three portfolios are built for each of the seven sectors chosen for this study, and the portfolios are analyzed on the training data based on several metrics such as annualized return and risk, weights assigned to the constituent stocks, the correlation heatmaps, and the principal components of the Eigen portfolios. Finally, the optimum risk portfolios and the Eigen portfolios for all sectors are tested on their return over a period of a six-month period. The performances of the portfolios are compared and the portfolio yielding the higher return for each sector is identified.

Black-box risk scoring models permeate our lives, yet are typically proprietary or opaque. We propose Distill-and-Compare, a model distillation and comparison approach to audit such models. To gain insight into black-box models, we treat them as teachers, training transparent student models to mimic the risk scores assigned by black-box models. We compare the student model trained with distillation to a second un-distilled transparent model trained on ground-truth outcomes, and use differences between the two models to gain insight into the black-box model. Our approach can be applied in a realistic setting, without probing the black-box model API. We demonstrate the approach on four public data sets: COMPAS, Stop-and-Frisk, Chicago Police, and Lending Club. We also propose a statistical test to determine if a data set is missing key features used to train the black-box model. Our test finds that the ProPublica data is likely missing key feature(s) used in COMPAS.

Dataset summarisation is a fruitful approach to dataset inspection. However, when applied to a single dataset the discovery of visual concepts is restricted to those most prominent. We argue that a comparative approach can expand upon this paradigm to enable richer forms of dataset inspection that go beyond the most prominent concepts. To enable dataset comparison we present a module that learns concept-level prototypes across datasets. We leverage self-supervised learning to discover these prototypes without supervision, and we demonstrate the benefits of our approach in two case-studies. Our findings show that dataset comparison extends dataset inspection and we hope to encourage more works in this direction. Code and usage instructions available at https://github.com/Nanne/ProtoSim