31Introduction to WebSim
By Jeffrey Scott
INTRODUCTION
Having read all of the ideas presented in previous chapters, you may ask, “How can I test my own ideas?” The answer is simple: WebSim.
WebSim is WorldQuant's web-based market simulation platform, which is publicly accessible and can be used to test ideas with past market data. This chapter will focus on:
- Why WebSim was developed
- How WebSim is used globally
- Who uses WebSim
- Where alpha ideas come from
- Sample data types
- Creating an alpha
- Managing simulation settings
- Analyzing results
- An alpha example
WHY WEBSIM WAS DEVELOPED
WebSim was designed as a tool to allow individuals to create and test alphas. WebSim is also used to qualify potential research consultants who work remotely as part of WorldQuant's Virtual Research Center.
As a market simulation platform with a built-in knowledge base and educational component, WebSim allows individuals to learn the art and science of creating alphas, to test their ideas, and to get quantitative feedback on their performance, both against the market and compared with their quantitative peers. It is the foundational platform for competitions such as the WorldQuant Challenge and the International Quant Championship, where top performers have received various opportunities, including becoming paid research consultants.
HOW WEBSIM IS USED GLOBALLY
Though its initial focus was to qualify research consultants and provide a framework for them to develop alphas, WebSim has evolved over ...
Get Finding Alphas, 2nd Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
