There is a large body of literature on the "success" of the application of evolutionary algorithms in general, and the genetic algorithm in particular, to the financial markets.
However, I feel uncomfortable whenever reading this literature. Genetic algorithms can over-fit the existing data. With so many combinations, it is easy to come up with a few rules that work. It may not be robust and it doesn't have a consistent explanation of why this rule works and those rules don't beyond the mere (circular) argument that "it works because the testing shows it works".
What is the current consensus on the application of the genetic algorithm in finance?