At ExtractAlpha, great products begin with great research.
As Director of Quantitative Research, Yunan Liu, PhD applies deep quantitative and academic rigor to help shape and refine the datasets and models that underpin ExtractAlpha’s signals – ensuring each one is built on sound empirical foundations.
A Researcher Grounded in Data and Discipline
Yunan joined ExtractAlpha in 2019 after earning his PhD in Finance and Economics from The University of Hong Kong, where his research focused on asset pricing, mergers & acquisitions, and textual analysis of corporate disclosures. His work has been presented at international conferences including AFA and FMA (Asia) – recognition for its analytical strength and market relevance.
Before ExtractAlpha, he worked at ICBC as a research analyst covering the macro economy and Asian bond markets. He also holds a Master’s degree in Operations Research (Distinction) from the London School of Economics and a First Class Honours degree in International Business from the University of Nottingham.
This mix of academic precision and applied market experience forms the backbone of his approach: analytical discipline anchored by real-world application.
Quantifying Signals That Hold Up
At ExtractAlpha, Yunan contributes to the development and testing of quantitative signals across multiple data domains, from multilingual textual data to behavioral and event-driven factors.
His research has explored how investor-attention data can enhance cross-sectional return forecasts, including co-authoring “Conditioning Anomalies Using Retail Attention Metrics.” His work focuses on questions like: What hidden patterns exist in alternative data? And how can those patterns translate into consistent, explainable performance for institutional investors?
“Good signals aren’t just predictive, they’re economically meaningful,” Yunan explains. “We spend as much time understanding why a relationship exists as proving that it does.”
That empirical discipline helps ExtractAlpha clients rely on signals that aren’t just innovative, they’re statistically sound and repeatable.
Building Confidence Through Research Depth
Yunan’s work supports ExtractAlpha’s broader research direction under Founder and CEO Vinesh Jha, ensuring that every new signal aligns with the firm’s standards of transparency, robustness, and explainability.
By bridging academic insight with practical modeling, Yunan helps ensure the research process behind each product is meticulous and reproducible – the kind of foundation institutional clients look for when deploying new data into live strategies.
Academic Roots, Real-World Results
From London to Hong Kong and from academia to industry, Yunan’s path reflects the evolution of modern quantitative finance, where strong theory meets scalable data.
His contribution to ExtractAlpha’s models reinforces what makes the firm distinct: signals grounded in empirical research and designed for real-world alpha generation.
Learn more about ExtractAlpha’s research and data products here.