# QuantEval: A Benchmark for Financial Quantitative Tasks in Large Language Models

arXiv: https://arxiv.org/abs/2601.08689 · HTML: https://mlsanity.com/paper/2601.08689/

## Key facts

- Cited by 7 papers in the map (data through 14 Oct 2026).
- Builds on 11 of its 17 references that are in the map.
- First posted on arXiv 13 Jan 2026.

## Builds on (most cited first, 11 of 11)

- [DeepSeekMath: Pushing the Limits of Mathematical Reasoning in Open Language Models](https://mlsanity.com/paper/2402.03300/) (2024)
- [MathQA: Towards Interpretable Math Word Problem Solving with Operation-Based Formalisms](https://mlsanity.com/paper/1905.13319/) (2019)
- [FinQA: A Dataset of Numerical Reasoning over Financial Data](https://mlsanity.com/paper/2109.00122/) (2021)
- [TAT-QA: A Question Answering Benchmark on a Hybrid of Tabular and Textual Content in Finance](https://mlsanity.com/paper/2105.07624/) (2021)
- [Large Language Models in Finance: A Survey](https://mlsanity.com/paper/2311.10723/) (2023)
- [PIXIU: A Large Language Model, Instruction Data and Evaluation Benchmark for Finance](https://mlsanity.com/paper/2306.05443/) (2023)
- [Evaluation of OpenAI o1: Opportunities and Challenges of AGI](https://mlsanity.com/paper/2409.18486/) (2024)
- [FinTextQA: A Dataset for Long-form Financial Question Answering](https://mlsanity.com/paper/2405.09980/) (2024)
- [Fino1: On the Transferability of Reasoning-Enhanced LLMs and Reinforcement Learning to Finance](https://mlsanity.com/paper/2502.08127/) (2025)
- [Benchmarking Large Language Models on CFLUE -- A Chinese Financial Language Understanding Evaluation Dataset](https://mlsanity.com/paper/2405.10542/) (2024)
- [Agentar-DeepFinance-100K: A Large-Scale Financial Dataset via Systematic Chain-of-Thought Synthesis Optimization](https://mlsanity.com/paper/2507.12901/) (2025)

## Built on by (most cited first, 7 of 7)

- [Agentic Trading: When LLM Agents Meet Financial Markets](https://mlsanity.com/paper/2605.19337/) (2026)
- [Improving the Completeness and Comparability of Segment Disclosures: A Large Language Model Approach](https://mlsanity.com/paper/2605.23924/) (2026)
- [MultiPress: A Multi-Agent Framework for Interpretable Multimodal News Classification](https://mlsanity.com/paper/2604.03586/) (2026)
- [Modality Fault Lines: Structural Corruptions Reveal Fragile Omni-Modal Reasoning](https://mlsanity.com/paper/2608.29278/) (2026)
- [JPO: Juris Policy Optimization for Structured Legal Reasoning in Criminal Judgment Prediction](https://mlsanity.com/paper/2608.29616/) (2026)
- [CM2: Multimodal Cultural Reasoning via an Integrated Multi-Agent Framework](https://mlsanity.com/paper/2608.30498/) (2026)
- [Can Language Models Learn to Forecast Stock Prices](https://mlsanity.com/paper/2609.36914/) (2026)

## Abstract (arXiv)

Large Language Models (LLMs) have shown strong capabilities in finance-oriented question answering, yet their evaluation on professional quantitative workflows remains fragmented and often stops at factual or document-grounded QA. We introduce QuantEval, a benchmark for evaluating whether LLMs can complete the compute--implement--validate loop required in quantitative finance. QuantEval contains 1,575 expert-validated instances across three complementary dimensions: (i) knowledge-based QA, (ii) quantitative mathematical reasoning, and (iii) quantitative strategy coding. The coding task is evaluated with a deterministic CTA-style backtesting framework that executes model-generated strategies and compares risk--return metrics against expert references, moving beyond syntax or template matching. We evaluate 13 open-source and proprietary LLMs, report prompt and reliability analyses, and observe substantial gaps relative to human experts, especially in multi-step reasoning and framework-constrained coding. We further conduct supervised fine-tuning and reinforcement learning experiments on domain-aligned data, showing that training can improve quantitative reasoning while also exposing trade-offs in factual recall. QuantEval releases the dataset, evaluation scripts, and full backtesting configuration to support reproducible research on LLMs for quantitative finance.