Quant Finance Glossary

Essential concepts for quant trading, research, and interviews — explained clearly.

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AllCareer & Interview Prep (6)Trading Concepts (10)Probability & Statistics (6)Options & Derivatives (6)Risk & Portfolio (6)Math Foundations (5)Quantitative Finance (1)
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Math FoundationsIntermediate

Markov Chains

A Markov chain is a stochastic process where the probability of transitioning to the next state depends only on the current state, not on the history — the 'memoryless' property.

10 min read

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