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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-cla","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:2605.27887v2 Announce Type: replace \nAbstract: Large language models (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. 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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-cla","title":"PortBench: A Correlation-Aware, Full-Pipeline Benchmark for LLM-Driven Portfolio Management","vendor":"arxiv_cs_ai"},"confidence":{"method":"deterministic"},"decision":"POSITIVE","issued_at":"2026-06-06T04:43:19Z","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:a1f233d6d271229e9ff71016472880992639c432d5d7986a7eca0b83f272ecffe70a28fed3e4784e83cec08210c7c0aec0f65712176946b6e4e36c20b3cdab0e","signer":"crovia.substrate","subject":{"observed_at":"2026-06-06T04:43:19Z","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":"15534efed6ce51621386441f802fa9eca0eb7987d3501161234f0cdfb53880a1","leaf_index":219449,"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":"fbdf3888e325946db7cb0f38128868180162c9e2151c16291a123d7ce04cd420","side":"left"},{"sibling":"5eb9efc2710325116792e3f136f48ad23ee153b19dd677df014aed9b75abd411","side":"right"},{"sibling":"b435e6c96148b6d1b4407aa96e08b83d6fab315ee71f2da81becf6e6904cafca","side":"right"},{"sibling":"924986411f7e63a3992ab06b5099d0a99a5adf652879b36e09ea7fe0fac5dafc","side":"left"},{"sibling":"a9fb24083dd30e49c07d1b9506502e8308b57e61814dfa0154b8e77e38c2340f","side":"left"},{"sibling":"0533945d48fc5cfd005a76d7e01ac78a1ad97725a2e0650037feaf4a36bde567","side":"left"},{"sibling":"c6d85f421226f83ff8cf32aaff89929d6dc9d5d94759254073631ced17a73907","side":"right"},{"sibling":"242ec7690d5995e1b5c2e94f2a8cedd5416b170d2db6fb44c95d0f9fb134a235","side":"right"},{"sibling":"42875175baa73c49869c927a23711e8bef732331ce49af85fa7e86d0903b1066","side":"left"},{"sibling":"84d2509eab51047589142ed6da8c496305d2fbcbe148e0e6755163db2c7a4bc4","side":"right"},{"sibling":"9e3ea17e834fab022f2eabcfedb8ea0ac95c1f9fb57edc5004dded68522d3c9e","side":"right"},{"sibling":"41d58fea95a95071715ee23ef8bcd15f5867a3639da28e62a0641bc95eb83094","side":"left"},{"sibling":"27ad9d6a9ab792d708709017242a61b9ca519da4e035f87a342811aae221d000","side":"left"},{"sibling":"5f303e2a7840c60038ff2d035b1cd911feefb0fba880de2d737c6671ace594d4","side":"right"},{"sibling":"b2590791b920ca2a4ed39de126d2c0b1a10d9e7e62f572f12425f214e767b6e1","side":"left"},{"sibling":"1a61eadbf0217d063ab78291ccafdc0c92907f7d6ccdc3357534ef89f07d78ae","side":"right"},{"sibling":"c300cf0154c136afc09b1702a0be98f4ba5b6dc5cf57e8cc714ec1eaf4196eff","side":"left"},{"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":219672,"merkle_root":"d3e32d3a61ca02ce6b1f0b2db86721107770b250e8a5bf762a2c225d2f03c870","public_key_hex":"cf742e26f75669dc673cb5c0786a1ae23ae8ca19c347317192ce40c28a7ff25c","run_id":"hourly_json_retrofit_20260606T053701Z","schema":"crovia.seal.v1","seal_family_version":"crovia-seal-family/1","seal_kind":"substrate_batch","sealed_at":"2026-06-06T05:38:35Z","sig_algorithm":"ed25519","signature":"dab214c2d4d857f01383c8e93a521a774b1aba60eaee5677d4e43e4074f0342b2c6a9b9bfcff0eba74f7ac81fcb490dd0e43727979c1a7e8979c7e11547fb101","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_d9d3da80f47705d05c59d7afdca8e40a00cd65413f793385c2b8e2d5781ddf52"}}