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| Hauptverfasser: | , , , , , , , |
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| Format: | Preprint |
| Veröffentlicht: |
2025
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| Online-Zugang: | https://arxiv.org/abs/2510.02209 |
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| _version_ | 1866910037427879936 |
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| author | Chen, Yanxu Yao, Zijun Liu, Yantao Xin, Amy Ye, Jin Yu, Jianing Hou, Lei Li, Juanzi |
| author_facet | Chen, Yanxu Yao, Zijun Liu, Yantao Xin, Amy Ye, Jin Yu, Jianing Hou, Lei Li, Juanzi |
| contents | Large language models (LLMs) demonstrate strong potential as autonomous agents, with promising capabilities in reasoning, tool use, and sequential decision-making. While prior benchmarks have evaluated LLM agents in various domains, the financial domain remains underexplored, despite its significant economic value and complex reasoning requirements. Most existing financial benchmarks focus on static question-answering, failing to capture the dynamics of real-market trading. To address this gap, we introduce STOCKBENCH, a contamination-free benchmark designed to evaluate LLM agents in realistic, multi-month stock trading environments. Agents receive daily market signals -- including prices, fundamentals, and news -- and make sequential buy, sell, or hold decisions. Performance is measured using financial metrics such as cumulative return, maximum drawdown, and the Sortino ratio, capturing both profitability and risk management. We evaluate a wide range of state-of-the-art proprietary and open-source LLMs. Surprisingly, most models struggle to outperform the simple buy-and-hold baseline, while some models demonstrate the potential to achieve higher returns and stronger risk management. These findings highlight both the challenges and opportunities of LLM-based trading agents, showing that strong performance on static financial question-answering do not necessarily translate into effective trading behavior. We release STOCKBENCH as an open-source benchmark to enable future research on LLM-driven financial agents. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2510_02209 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | StockBench: Can LLM Agents Trade Stocks Profitably In Real-world Markets? Chen, Yanxu Yao, Zijun Liu, Yantao Xin, Amy Ye, Jin Yu, Jianing Hou, Lei Li, Juanzi Machine Learning Computation and Language Large language models (LLMs) demonstrate strong potential as autonomous agents, with promising capabilities in reasoning, tool use, and sequential decision-making. While prior benchmarks have evaluated LLM agents in various domains, the financial domain remains underexplored, despite its significant economic value and complex reasoning requirements. Most existing financial benchmarks focus on static question-answering, failing to capture the dynamics of real-market trading. To address this gap, we introduce STOCKBENCH, a contamination-free benchmark designed to evaluate LLM agents in realistic, multi-month stock trading environments. Agents receive daily market signals -- including prices, fundamentals, and news -- and make sequential buy, sell, or hold decisions. Performance is measured using financial metrics such as cumulative return, maximum drawdown, and the Sortino ratio, capturing both profitability and risk management. We evaluate a wide range of state-of-the-art proprietary and open-source LLMs. Surprisingly, most models struggle to outperform the simple buy-and-hold baseline, while some models demonstrate the potential to achieve higher returns and stronger risk management. These findings highlight both the challenges and opportunities of LLM-based trading agents, showing that strong performance on static financial question-answering do not necessarily translate into effective trading behavior. We release STOCKBENCH as an open-source benchmark to enable future research on LLM-driven financial agents. |
| title | StockBench: Can LLM Agents Trade Stocks Profitably In Real-world Markets? |
| topic | Machine Learning Computation and Language |
| url | https://arxiv.org/abs/2510.02209 |