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Existing benchmarks exhibit two main gaps: they ignore cross-asset correlation structures, thereby failing to distinguish genuinely diversified portfolios from concentrated ones, and fail to evaluate the complete PM decision pipeline in real-world scenarios. We introduce PortBench, a benchmark spanning six heterogeneous asset classes over ten years. PortBench consists of two complementary layers: a static QA dataset of 6,269 correlation-based questions across seven task templates, and a dynamic five-stage allocation pipeline that mirrors the full PM decision cycle. To evaluate these layers, we introduce two dedicated metrics: a dual-layer correlation score that measures whether proposed portfolios exploit inter-class hedging and avoid intra-class concentration, and CEPS, ","title":"PortBench: A Correlation-Aware, Full-Pipeline Benchmark for LLM-Driven Portfolio Management","url":"https://arxiv.org/abs/2605.27887","vendor":"arxiv_cs_ai"},"summary":"arXiv:2605.27887v1 Announce Type: new \nAbstract: LLMs have shown strong performance across diverse financial tasks, yet portfolio management (PM), a critical financial decision-making task, remains poorly benchmarked. Existing benchmarks exhibit two main gaps: they ignore cross-asset correlation structures, thereby failing to distinguish genuinely diversified portfolios from concentrated ones, and fail to evaluate the complete PM decision pipeline in real-world scenarios. We introduce PortBench, a benchmark spanning six heterogeneous asset classes over ten years. PortBench consists of two complementary layers: a static QA dataset of 6,269 correlation-based questions across seven task templates, and a dynamic five-stage allocation pipeline that mirrors the full PM decision cycle. To evaluate these layers, we introduce two dedicated metrics: a dual-layer correlation score that measures whether proposed portfolios exploit inter-class hedging and avoid intra-class concentration, and CEPS, ","title":"PortBench: A Correlation-Aware, Full-Pipeline Benchmark for LLM-Driven Portfolio Management","vendor":"arxiv_cs_ai"},"confidence":{"method":"deterministic"},"decision":"POSITIVE","issued_at":"2026-05-28T04:43:38Z","notes":"Spider vendor_press (news) news.vendor_press.v1","object":{"captured_by":"crovia.spider.vendor_press","primary_source_url":"https://arxiv.org/abs/2605.27887"},"predecessors":[],"schema":"crovia.axiom.v1","signature":"ed25519:8d55c69567582d804268286397cbda60c8deef1754c17e591360ffa31bd19894d001a400685088c6593417c108be20d79eec1dc9e0451e33c814590e0957c40c","signer":"crovia.substrate","subject":{"observed_at":"2026-05-28T04:43:38Z","source_collector":"spider:vendor_press","target_id":"https://arxiv.org/abs/2605.27887"},"tsa":{"authority":"crovia.substrate.bootstrap","rfc3161_token":"{\"kind\":\"crovia.bootstrap.tsa\",\"source_jsonl\":\"/opt/crovia/spider/data/news/vendor_press_v1.jsonl\",\"source_seal_merkle_root\":\"spider_vendor_press_v1\",\"upgrade_path\":\"Sessione H \\u2014 OpenTimestamps weekly anchor\"}"},"zk_mode":"clear","zk_proof":null},"ledger":{"leaf_hash":"f802272c67fd25b23abfc278080f8a370bbaef994c1039fb18530ef342f57443","leaf_index":155610,"ledger_path":"/opt/crovia/substrate/axiom_ledger.jsonl"},"merkle_proof":{"hash_alg":"sha256","leaf_prefix":"0x00","node_prefix":"0x01","odd_leaf_rule":"duplicate_last","path":[{"sibling":"31b56bab6d38414cf2a5199457afb82e29d7053d03fe26a122441879c3483058","side":"right"},{"sibling":"31b97e0a772c2ef21eca76c2788196406024b8324babf79e8fa0f9408a451ef2","side":"left"},{"sibling":"212fa5afd846952dab79e4416a08c9821754eb0d4f9bbe07b895f186c8008d49","side":"right"},{"sibling":"8e1da781a41050afc2962abd670bf79a21c12bdad3ec09051399428ae8b2fed8","side":"left"},{"sibling":"c8c21e6ef77478e42625acc377a4062ee6ad593745301a1f6d90936e6d94e475","side":"left"},{"sibling":"9271164ea0f2c427fba10eb695cb98be464e920bb5d4d839cf341ff315753f23","side":"right"},{"sibling":"7252c2f7874601f6b2d750e8a0aa6cc72c6924d6614fe237cd5c97d2026c5c17","side":"left"},{"sibling":"70e73f197ecea5d12ff2f9cf2ca33087110a782ea956c539b3058422ada4b2bd","side":"left"},{"sibling":"8c9c7b64ca041ef0029c35e402972d0bebed706fe997b9c587da6f5c811dcce1","side":"left"},{"sibling":"aa7a574eaea239ab8851da225206477d62a6ea5a15b65834f22d1c10288348e7","side":"left"},{"sibling":"7fcba2ee8232873e5d864902f28968d2be38867751c238f238f629eddb98b226","side":"left"},{"sibling":"816f233274bb10f5a122aac086a0c8c697b78fec67a4af55190bb596b7506fab","side":"left"},{"sibling":"d415e6939aee710631f5062799379b547d2c3e3d9a68f263bbb5a693285ab2ca","side":"left"},{"sibling":"d422d38e0ffe6e849b6ce3259d90c9d36497b4d7391a003e15591668c79028a7","side":"right"},{"sibling":"35ca36cee447f0ef7064a25d55f59357c66901e31427729c4c1d8b14aa8adb6c","side":"left"},{"sibling":"7b6f0bea4291a5e63574dfca9aa0f9756f450c9478c3d07474d39a7ababb51f9","side":"right"},{"sibling":"1d39fe14b21e2ebbfb87e882423b24ee9469eae1e4c77af5b799ac4db9537467","side":"right"},{"sibling":"d841ad93efda0869e5eb97678f348f03f5caab4353e05ff4bf18f47fb945b822","side":"left"}]},"schema":"crovia.axiom_proof.v1","seal":{"first_collector_run_id":"","first_receipt_hash":"","jsonl_path":"/opt/crovia/substrate/axiom_ledger.jsonl","key_id":"430895f101d38164","last_collector_run_id":"","last_receipt_hash":"","leaf_count":156177,"merkle_root":"c5705a0243d16afd8b1ebfd731b7aa304079c442c2a7906493c5bbed374c69ec","public_key_hex":"cf742e26f75669dc673cb5c0786a1ae23ae8ca19c347317192ce40c28a7ff25c","run_id":"hourly_json_retrofit_20260528T053701Z","schema":"crovia.seal.v1","seal_family_version":"crovia-seal-family/1","seal_kind":"substrate_batch","sealed_at":"2026-05-28T05:37:36Z","sig_algorithm":"ed25519","signature":"f087e13febc8bb6a2e0812610de64cebc65be92915518d9c4b230799c3b161839b04c4eb1b02741f938f35545a76ab76555b04c782bdc2f9a44852d171d65909","signer_version":"1.1.0"},"trust_root":{"key_id":"430895f101d38164","public_key_hex":"cf742e26f75669dc673cb5c0786a1ae23ae8ca19c347317192ce40c28a7ff25c","signature_algorithm":"ed25519","url":"/registry/canon/TRUST_ROOT.md"},"verifier":{"spec":"/registry/canon/AXIOM_RECEIPT_v1.md","url":"/v/axm_263b33c2f7b6fe3e9455179549bd18806b37fd2090bdec96650b092e44774049"}}