Inspiration
For my part, I heard about the creation of the digital Yuan a couple of months ago and discussed with industry experts in finance about their thoughts of the matter. While there was some enthusiasm around its novelty, the overall consensus was that of skepticism. Many experts recognized the importance of
What it does and how we built it--
The program identifies top-performing U.S. equity stocks and indexes to tailor the best portfolio for each client, based on their industry preferences and available funds. This prototype was tested on historical datasets to demonstrate its effectiveness, and our long-term vision is to leverage cutting-edge technology to expand our algorithm for future-oriented portfolio growth and prediction. In particular, it accounts for individual stock risk, such as systematic and inflationary risk, using Consumer Price Index data and beta measurements. It also computes liquidity risks and compares them to the client’s risk tolerance, crafting a portfolio that optimizes risk exposure.
Challenges we ran into
The most significant challenge in developing this platform was sourcing reliable and relevant data. Portfolio asset allocation depends heavily on accurate, high-quality inputs, and identifying the right variables, such as risk indicators, historical trends, and economic markers, proved to be difficult at times. The lack of publicly accessible standardized datasets and the complexity of integrating diverse financial indicators into our model required extensive research and testing to ensure our algorithm could deliver accurate recommendations.
Accomplishments that we're proud of
It was our first hackathon for all and we had little to no experience in machine learning. However, this was a great opportunity for us to learn and grow together!
What we learned
The importance of design in creating an efficient product. It was important for us to come up with an end product that would meet our initial goal to explore machine learning in the future of decentralized finance!
What's next for NeoWealth
Refining our prototype towards more complex investment strategy, potentially in algorithmic trading with the aim to outperform the market!
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