Arvin,
What you are asking is not just about arrow mass, it involves the aerodynamics of the projectile as well. To incorporate bow dynamics, arrow dynamics on release and the aerodynamic performance of the arrow all into one model is a massive project that would be equivalent to the research required for several PhD theses.
The one way I can think of to directly measure arrow performance in flight is using doppler radar to track the arrow in flight and measure/calculate its velocity along the flight path. This is how some bullet companies do research on bullet shapes and calculate the ballistic coefficients for their bullets. The problem there is gaining access to those facilities and if the systems they use will work properly with arrows instead of bullets.
Mark