[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-125924-en":3,"doc-seo-125924-105":31,"detail-sidebar-cat-0-en-105":93},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},125924,2336474459895,"Aria","https://ap-avatar.wpscdn.com/avatar/22000baeef7a5ed0655?x-image-process=image/resize,m_fixed,w_180,h_180&k=1786071322749376916",8,"Research & Report","Optimizing Financial Portfolios through Time - A Comprehensive Machine Learning Approach","Portfolio management is framed as selecting and managing financial instruments such as stocks, bonds, and other securities to maximize investment returns while minimizing risk. Achieving this requires optimal allocation of limited capital across multiple candidate assets over time for effective risk control. Building on advances in machine learning, the study compares portfolio optimization techniques across time and applies them to a portfolio of companies from the Portuguese PSI index.","Master Degree Program in  \nData Science and Advanced Analytics  \nMDSAA  \nOptimizing Financial Portfolios through Time  \nA Comprehensive Machine Learning Approach  \nLucas Reis das Neves  \nMaster Thesis  \npresented as partial requirement for obtaining a Master’s Degree in Data Science and Advanced Analytics  \nNOVA Information Management School Instituto Superior de Estatística e Gestão de Informação  \nUniversidade Nova de Lisboa  \nNOVA Information Management School Instituto Superior de Estatística e Gestão de Informação  \nUniversidade Nova de Lisboa  \nOptimizing Financial Portfolios through Time  \nA Comprehensive machine learning approach  \nby  \nLucas Reis das Neves  \nMaster Thesis presented as partial requirement for obtaining the Master’s degree in Data Science and Advanced Analytics, with a specialization in Business Analytics  \nSupervised by  \nProfessor Afshin Ashofteh, PhD, NOVA Information Management School  \nFebruary, 2024  \nSTATEMENT OF INTEGRITY  \nI hereby declare having conducted this academic work with integrity. I confirm that I have not used plagiarism or any form of undue use of information or falsification of results along the process leading to its elaboration. I further declare that I have fully acknowledged the Rules of Conduct and Code of Honor from the NOVA Information Management School.  \nLucas Reis das Neves, Lisbon, 28/02/2024  \nACKNOWLEDGEMENTS  \nI would like to thank first and foremost my fiancée for the unconditional support in the development of this work. I would like to thank my family and pets for the support and keeping me company throughout this journey. I would like to thank my Nova IMS Professors and colleagues with whom I have worked for all they taught me prior to the development of this study. Last but not least, I also want to thank my supervisor for guiding me and giving me the freedom to do this study.  \nABSTRACT  \nPortfolio management can be characterized as the process of selecting and managing a group of financial instruments such as stocks, bonds and other securities, with the goal of maximizing the return on investment while minimizing the risk. To accomplish this goal, investors need to optimally allocate limited funds in a variety of potential assets and in a periodic manner to establish risk control. With the rise of Machine Learning technology, novel optimization techniques have risen to challenge current and older practices. This study aims to compare different portfolio optimization techniques across time and apply them to a portfolio of companies comprising the Portuguese PSI index. Results confirm the superior performance of reinforcement learning methods applied to portfolio optimization regarding compound returns. However, it was also shown that each strategy has its own strengths and weaknesses depending on the evaluation metric considered. Lastly, the study contributes to portfolio optimization literature and helps investors and other market participants navigate noisy and volatile financial markets, raising awareness to different methods of building high performing portfolios and achieving the best possible outcome for the different investor profiles.  \nKEYWORDS  \nMachine learning; Reinforcement learning; Portfolio optimization; Financial risk; Risk management; Financial markets  \nSustainable Development Goals (SDG):  \nINDEX  \nStatement of Integrity ....................................................................................................... ii  \nAcknowledgements .......................................................................................................... iii  \nAbstract ............................................................................................................................ iv  \nList of Figures.................................................................................................................. viii  \nList of Tables .......................................................................................................","cbCain4s62oZOlOE","https://ap.wps.com/l/cbCain4s62oZOlOE","pdf",4504888,5,1,94,"English","en",105,"# Introduction\n# Literature review\n## Methods\n## Review statistics\n## Content analysis\n## Credit Risk\n## Operational Risk\n## Market Risk\n## Portfolio Risk\n## Traditional portfolio optimization techniques","[{\"question\":\"What is the main objective of the study on portfolio management?\",\"answer\":\"To compare different portfolio optimization techniques across time and apply them to a portfolio of companies from the Portuguese PSI index, targeting higher returns while managing risk.\"},{\"question\":\"How does reinforcement learning perform in the research results?\",\"answer\":\"Results confirm superior performance of reinforcement learning methods for portfolio optimization in terms of compound returns.\"},{\"question\":\"Why might different strategies be preferred depending on evaluation metrics?\",\"answer\":\"The study shows that each strategy has distinct strengths and weaknesses, depending on which evaluation metric is used to assess performance.\"}]","Optimizing Financial Portfolios through Time - A Comprehensive Machine Learning Approach | PDF",1785902061,237,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":88,"head_meta":90,"extra_data":92,"updated_unix":29},"optimizing-financial-portfolios-through-time-a-comprehensive-machine-learning-approach","",{"@graph":37,"@context":87},[38,55,70],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":54},"https://docshare.wps.com/document/optimizing-financial-portfolios-through-time-a-comprehensive-machine-learning-approach/125924/",4,{"url":53,"name":13,"@type":56,"author":57,"headline":13,"publisher":59,"fileFormat":62,"inLanguage":24,"description":14,"dateModified":63,"datePublished":64,"encodingFormat":62,"isAccessibleForFree":65,"interactionStatistic":66},"DigitalDocument",{"name":9,"@type":58},"Person",{"url":42,"name":60,"@type":61},"DocShare","Organization","application/pdf","2026-08-23","2026-08-05",true,{"@type":67,"interactionType":68,"userInteractionCount":20},"InteractionCounter",{"@type":69},"ViewAction",{"@type":71,"mainEntity":72},"FAQPage",[73,79,83],{"name":74,"@type":75,"acceptedAnswer":76},"What is the main objective of the study on portfolio management?","Question",{"text":77,"@type":78},"To compare different portfolio optimization techniques across time and apply them to a portfolio of companies from the Portuguese PSI index, targeting higher returns while managing risk.","Answer",{"name":80,"@type":75,"acceptedAnswer":81},"How does reinforcement learning perform in the research results?",{"text":82,"@type":78},"Results confirm superior performance of reinforcement learning methods for portfolio optimization in terms of compound returns.",{"name":84,"@type":75,"acceptedAnswer":85},"Why might different strategies be preferred depending on evaluation metrics?",{"text":86,"@type":78},"The study shows that each strategy has distinct strengths and weaknesses, depending on which evaluation metric is used to assess performance.","https://schema.org",{"og:url":53,"og:type":89,"og:title":13,"og:site_name":60,"og:description":14},"article",{"robots":91,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":94},[95,99,103,107,111,116,121,124,129,132,136],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":96,"show_sort_weight":97,"slug":98},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":100,"show_sort_weight":101,"slug":102},"Literature",80,"literature",{"id":54,"doc_module":4,"doc_module_name":47,"category_name":104,"show_sort_weight":105,"slug":106},"Exam",70,"exam",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":47,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":47,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":133,"doc_module":4,"doc_module_name":47,"category_name":134,"show_sort_weight":133,"slug":135},10,"Lifestyle","lifestyle",{"id":137,"doc_module":4,"doc_module_name":47,"category_name":138,"show_sort_weight":20,"slug":139},19,"General","general"]