Data Science & Financial Engineering

[dhruvk]

Hello all,

What is the difference between financial engineering and data science? Is there any career in which intersects the machine learning and quant finance?

Thanks!

 

[yetanotherquant]

What is the difference between financial engineering and data science?
Thanks!

In theory: financial engineering (Q-World) is based on a well-established advanced math (measure theory, PDEs), whereas for the data science(P-World) it is enough to have basic undergraduate knowledge (calculus, regression analysis).
In practice: you will (mostly) do a routine job in both domains.

Note: Q is a common notation for the martingale (risk-neutral) measure, whereas P is a real-world (observable) probability measure.

Is there any career in which intersects the machine learning and quant finance?

Yes, e.g. (some kinds of) algo-trading.

P.S. this essay might be worth reading for you
Big Data and Deep Learning, a technology revolution in trading or yet another hype? — letYourMoneyGrow.com - Serving Retail Investors