Public copy of the scored report generated from the run's recorded rows on 2026-10-16, unchanged except for this note. In this file the three arms carry the study's internal labels. They map to the article as follows: "placebo" is version 2, Library only; "design space" or "sweep" is version 3, Adaptive, any settings; "as designed" is version 4, Adaptive, shipped settings. The per-run table behind it is runs.csv.gz: one row per strategy per time span, with the universe, the settings the sweep drew, and the results (CAGR, max drawdown, volatility, Sharpe, the four scores, the benchmark comparisons, turnover, and holdings count). It names no tickers.
Generated 2026-10-16 10:55 by scripts/score_study.py. Bootstrap: 1000 4-quarter circular-block resamples, seed 20261016, identical paths across arms. Random clouds: 500 portfolios, seed 7, matched to the engine's per-quarter pick count (primary). Spans in scorecard.md section 6. Verdict words from section 8. Every number is an aggregate across draws; no draw is a strategy.
1. Headline cell A-all-none (all sectors, all caps, no gate, $5 floor, fresh filers)
The four versions of the picker, FULL span 2016-08-31 to 2026-07-10 (41 quarters)
Median percentile against the matched random cloud [95% interval] and verdict. 50 = indistinguishable from random.
| Version | n draws | T1 CAGR | T2 max drawdown | T2 volatility | T3 Sharpe |
|---|---|---|---|---|---|
| Random stocks | cloud | 50 by definition | 50 | 50 | 50 |
| Placebo engine | 498 | 97.2 [71.1, 98.2] EDGE | 94.5 [80.4, 99.4] EDGE | 99.2 [84.3, 100.0] EDGE | 99.6 [84.4, 99.6] EDGE |
| Design space | 489 | 96.8 [67.0, 98.6] EDGE | 98.6 [86.4, 99.6] EDGE | 100.0 [93.4, 100.0] EDGE | 99.8 [84.8, 99.8] EDGE |
| As designed | 63 | 98.2 [74.6, 99.0] EDGE | 98.8 [84.2, 99.8] EDGE | 100.0 [88.6, 100.0] EDGE | 99.8 [87.2, 100.0] EDGE |
Median values behind those percentiles (the draw at the middle of each version):
| Version | CAGR | max drawdown | volatility | Sharpe | product-convention CAGR pct | stood aside |
|---|---|---|---|---|---|---|
| Placebo engine | 11.4% | -31.1% | 19.3% | 0.69 | 97.0 | 0.0% |
| Design space | 11.1% | -25.4% | 17.3% | 0.70 | 97.0 | 0.0% |
| As designed | 12.2% | -25.5% | 18.1% | 0.73 | 98.0 | 0.0% |
T6, what the statistics add (design space minus placebo), FULL span
| Comparison | T1 CAGR | T2 max drawdown | T3 Sharpe |
|---|---|---|---|
| Design space minus placebo (T6) | -0.4 [-11.6, 7.7] NOT DETECTED | 4.1 [-2.8, 9.2] NOT DETECTED | 0.2 [-7.6, 6.8] NOT DETECTED |
| As designed minus design space | 1.4 [-2.6, 11.2] NOT DETECTED | 0.2 [-4.0, 3.4] NOT DETECTED | 0.0 [-2.8, 6.6] NOT DETECTED |
T5, better than just owning things? FULL span, cash quarters at 0%
Share of draws whose 41-quarter CAGR beats the benchmark [95% interval], verdict, and the benchmark's own CAGR.
| Version | vs universe average | vs RSP | vs SPY | cap-weighted picks vs SPY |
|---|---|---|---|---|
| Placebo engine | 89.0% [64.8%, 91.6%] BEATS | 50.0% [23.9%, 69.7%] TIES | 22.5% [6.8%, 55.4%] TIES | 36.5% [22.7%, 60.4%] TIES |
| Design space | 93.9% [61.1%, 98.0%] BEATS | 46.4% [17.2%, 77.5%] TIES | 13.3% [7.4%, 48.1%] TRAILS | 60.1% [23.1%, 80.0%] TIES |
| As designed | 96.8% [73.0%, 98.4%] BEATS | 58.7% [22.2%, 84.1%] TIES | 25.4% [7.9%, 61.9%] TIES | 54.0% [17.5%, 87.3%] TIES |
Benchmark CAGRs over the same 41 quarters: universe average 3.2%, RSP 11.3%, SPY 15.0%. Median draw CAGR with cash quarters: design space 11.0%, cap-weighted 16.3%.
T4, does a strong backtest predict a strong holdout? (design-space arm)
Spearman rank correlation across draws between the selection span and the holdout, per seam. Bar: at or above +0.20 at 3 of 4 seams.
| Seam | n | rho CAGR | rho max drawdown | top decile holdout CAGR pct | rest | top decile holdout excess vs SPY | rest |
|---|---|---|---|---|---|---|---|
| S1/H1 | 485 | 0.342 | 0.320 | 88.2 | 77.3 | -1.9% | -8.4% |
| S2/H2 | 478 | -0.078 | 0.219 | 50.0 | 62.8 | -6.6% | -3.0% |
| S3/H3 | 485 | -0.090 | 0.220 | 90.4 | 95.4 | -4.4% | 0.1% |
| S4/H4 | 489 | 0.143 | 0.266 | 80.6 | 80.6 | -6.3% | -6.6% |
Verdict: CAGR DOES NOT PERSIST (1 of 4 seams); max drawdown PERSISTS (4 of 4 seams).
T7, following the app's own selection advice (design-space arm)
Selected draws' median holdout percentile minus the remaining draws'. Bar: lead of 5 or more points at 3 of 4 seams.
| Seam | (a) shallowest-drawdown quartile: n | lead CAGR pct | lead max-DD pct | (b) above the product bar: n | bar | lead CAGR pct | lead max-DD pct |
|---|---|---|---|---|---|---|---|
| S1/H1 | 122 | 13.2 | 13.6 | 1 | 99.8 | 14.6 | 4.8 |
| S2/H2 | 120 | -7.3 | 6.7 | 24 | 99.8 | -11.5 | 5.3 |
| S3/H3 | 122 | -3.2 | 0.9 | 10 | 99.8 | -0.8 | 1.0 |
| S4/H4 | 123 | 0.4 | 2.8 | 59 | 99.8 | 7.0 | -7.2 |
- a_shallow_dd_cagr: DOES NOT PERSIST (1 of 4 seams)
- a_shallow_dd_maxdd: DOES NOT PERSIST (2 of 4 seams)
- b_above_bar_cagr: DOES NOT PERSIST (2 of 4 seams)
- b_above_bar_maxdd: DOES NOT PERSIST (1 of 4 seams)
T1 to T3 per holdout, headline cell, design-space arm
| Holdout | n | refused | T1 CAGR | T2 max drawdown | T2 volatility | T3 Sharpe |
|---|---|---|---|---|---|---|
| H1 | 485 | 15 | 78.4 [64.6, 86.6] EDGE | 82.0 [67.0, 92.6] EDGE | 78.4 [61.2, 83.6] EDGE | 79.0 [58.8, 92.0] EDGE |
| H2 | 478 | 22 | 59.2 [19.4, 91.8] NOT DETECTED | 89.7 [65.8, 94.0] EDGE | 98.8 [73.2, 98.8] EDGE | 75.6 [53.4, 90.8] EDGE |
| H3 | 485 | 15 | 95.2 [78.2, 95.6] EDGE | 98.2 [79.0, 98.4] EDGE | 92.8 [73.4, 94.2] EDGE | 98.2 [82.6, 98.2] EDGE |
| H4 | 489 | 11 | 80.6 [57.4, 90.6] EDGE | 95.4 [81.8, 96.6] EDGE | 97.8 [85.2, 97.8] EDGE | 91.8 [75.8, 94.4] EDGE |
2. The four versions on every no-gate Tier A cell (FULL span)
| Cell | Placebo T1 | Design space T1 | As designed T1 | T6 CAGR (design minus placebo) | Placebo T2 | Design T2 | As designed T2 | T6 max DD | Placebo T3 | Design T3 | As designed T3 | T6 Sharpe |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A-micro-none | 100.0 EDGE | 100.0 EDGE | 100.0 EDGE | 0.0 [-0.8, 0.4] NOT DETECTED | 100.0 EDGE | 100.0 EDGE | 100.0 EDGE | 0.0 [-0.4, 0.2] NOT DETECTED | 100.0 EDGE | 100.0 EDGE | 100.0 EDGE | 0.0 [-0.2, 0.2] NOT DETECTED |
| A-small-none | 90.3 EDGE | 78.6 NOT DETECTED | 73.2 NOT DETECTED | -11.7 [-20.5, -0.1] SUBTRACTS | 93.0 EDGE | 93.2 EDGE | 73.2 NOT DETECTED | 0.2 [-12.1, 6.5] NOT DETECTED | 97.0 EDGE | 91.2 EDGE | 82.0 NOT DETECTED | -5.8 [-21.4, 2.6] NOT DETECTED |
| A-mid-none | 87.2 NOT DETECTED | 92.9 EDGE | 98.2 EDGE | 5.7 [-16.8, 48.9] NOT DETECTED | 37.2 NOT DETECTED | 75.9 EDGE | 93.2 EDGE | 38.7 [-31.6, 79.0] NOT DETECTED | 91.6 NOT DETECTED | 97.6 EDGE | 100.0 EDGE | 6.0 [-17.8, 52.1] NOT DETECTED |
| A-large-none | 71.2 NOT DETECTED | 84.0 NOT DETECTED | 91.8 NOT DETECTED | 12.8 [-10.8, 41.2] NOT DETECTED | 56.0 NOT DETECTED | 47.2 NOT DETECTED | 81.8 NOT DETECTED | -8.8 [-30.4, 53.4] NOT DETECTED | 75.4 NOT DETECTED | 90.4 NOT DETECTED | 94.8 EDGE | 15.0 [-12.0, 50.2] NOT DETECTED |
| A-micro_small-none | 99.4 EDGE | 99.0 EDGE | 99.4 EDGE | -0.4 [-9.2, 3.8] NOT DETECTED | 100.0 EDGE | 99.3 EDGE | 99.4 EDGE | -0.7 [-14.8, 0.6] NOT DETECTED | 100.0 EDGE | 99.8 EDGE | 99.6 EDGE | -0.2 [-8.8, 2.0] NOT DETECTED |
| A-small_mid-none | 73.1 NOT DETECTED | 85.1 EDGE | 93.4 EDGE | 12.0 [-7.5, 34.6] NOT DETECTED | 66.8 NOT DETECTED | 86.9 EDGE | 79.6 NOT DETECTED | 20.1 [-6.0, 49.6] NOT DETECTED | 84.8 NOT DETECTED | 95.8 EDGE | 98.2 EDGE | 11.0 [-6.5, 44.6] NOT DETECTED |
| A-mid_large-none | 71.2 NOT DETECTED | 89.8 NOT DETECTED | 96.0 EDGE | 18.6 [-16.5, 35.5] NOT DETECTED | 72.1 NOT DETECTED | 66.2 NOT DETECTED | 94.6 EDGE | -5.9 [-34.2, 45.5] NOT DETECTED | 86.6 EDGE | 97.8 EDGE | 99.6 EDGE | 11.2 [-23.9, 37.7] NOT DETECTED |
| A-ex_micro-none | 87.2 EDGE | 88.6 NOT DETECTED | 89.2 NOT DETECTED | 1.4 [-19.2, 17.8] NOT DETECTED | 89.8 EDGE | 94.0 EDGE | 84.4 EDGE | 4.2 [-7.8, 17.0] NOT DETECTED | 96.4 EDGE | 98.6 EDGE | 96.8 EDGE | 2.2 [-8.3, 21.0] NOT DETECTED |
| A-all-none | 97.2 EDGE | 96.8 EDGE | 98.2 EDGE | -0.4 [-11.6, 7.7] NOT DETECTED | 94.5 EDGE | 98.6 EDGE | 98.8 EDGE | 4.1 [-2.8, 9.2] NOT DETECTED | 99.6 EDGE | 99.8 EDGE | 99.8 EDGE | 0.2 [-7.6, 6.8] NOT DETECTED |
3. F1, the cell map (design-space arm, FULL span)
Median percentile [95% interval] verdict for T1 to T3; T5 shares with verdicts. Thin cells would be marked; none are.
| Cell | n | refused | T1 CAGR | T2 max DD | T3 Sharpe | T5 vs universe avg | T5 vs RSP | T5 vs SPY | T5 vs sector ETF | T4 CAGR | T4 max DD |
|---|---|---|---|---|---|---|---|---|---|---|---|
| A-micro-none | 492 | 5 | 100.0 [97.8, 100.0] EDGE | 100.0 [99.4, 100.0] EDGE | 100.0 [99.4, 100.0] EDGE | 97.8% BEATS | 73.2% TIES | 40.2% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-micro-profit | 488 | 9 | 86.4 [53.3, 94.2] EDGE | 83.4 [62.2, 93.1] EDGE | 93.7 [63.0, 97.6] EDGE | 79.5% TIES | 65.0% TIES | 26.8% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-micro-solvent | 491 | 7 | 100.0 [95.0, 100.0] EDGE | 100.0 [97.6, 100.0] EDGE | 100.0 [97.8, 100.0] EDGE | 99.2% BEATS | 69.7% TIES | 37.9% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-small-none | 485 | 15 | 78.6 [46.2, 90.0] NOT DETECTED | 93.2 [66.6, 99.8] EDGE | 91.2 [57.4, 98.0] EDGE | 81.4% TIES | 24.9% TIES | 6.2% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-small-profit | 486 | 12 | 39.6 [20.2, 66.4] NOT DETECTED | 61.6 [43.9, 80.8] NOT DETECTED | 54.9 [29.0, 79.4] NOT DETECTED | 18.3% TIES | 14.0% TRAILS | 2.7% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-small-solvent | 484 | 14 | 80.1 [48.4, 89.4] NOT DETECTED | 91.2 [64.2, 99.8] EDGE | 91.2 [58.2, 97.6] EDGE | 78.3% TIES | 27.1% TIES | 5.0% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-mid-none | 492 | 5 | 92.9 [63.4, 96.2] EDGE | 75.9 [57.8, 96.9] EDGE | 97.6 [71.2, 98.8] EDGE | 85.8% BEATS | 65.2% TIES | 32.1% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-mid-profit | 486 | 10 | 82.2 [35.0, 93.6] NOT DETECTED | 69.2 [22.6, 95.8] NOT DETECTED | 89.0 [40.1, 97.2] NOT DETECTED | 57.2% TIES | 49.6% TIES | 27.0% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-mid-solvent | 490 | 4 | 91.8 [62.6, 95.8] EDGE | 74.0 [56.6, 93.6] EDGE | 96.6 [69.0, 98.0] EDGE | 82.4% BEATS | 60.6% TIES | 33.1% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-large-none | 496 | 2 | 84.0 [40.9, 96.0] NOT DETECTED | 47.2 [27.6, 95.4] NOT DETECTED | 90.4 [42.8, 98.2] NOT DETECTED | 77.0% TIES | 58.3% TIES | 16.7% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-large-profit | 494 | 5 | 87.8 [36.7, 97.6] NOT DETECTED | 42.5 [12.2, 95.0] NOT DETECTED | 88.5 [31.4, 97.8] NOT DETECTED | 67.2% TIES | 59.3% TIES | 26.5% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-large-solvent | 495 | 3 | 83.2 [37.4, 95.8] NOT DETECTED | 40.0 [23.3, 95.8] NOT DETECTED | 89.8 [39.3, 98.0] NOT DETECTED | 76.8% TIES | 57.4% TIES | 14.9% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-micro_small-none | 486 | 13 | 99.0 [77.0, 99.4] EDGE | 99.3 [81.1, 100.0] EDGE | 99.8 [85.6, 100.0] EDGE | 96.3% BEATS | 34.6% TIES | 10.3% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-micro_small-profit | 477 | 20 | 48.8 [24.6, 76.2] NOT DETECTED | 69.0 [51.4, 88.8] EDGE | 65.6 [34.4, 87.6] NOT DETECTED | 32.7% TIES | 25.6% TIES | 8.8% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-micro_small-solvent | 490 | 5 | 97.4 [68.6, 98.6] EDGE | 97.8 [72.1, 100.0] EDGE | 99.4 [77.8, 100.0] EDGE | 95.7% BEATS | 35.9% TIES | 8.0% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-small_mid-none | 486 | 12 | 85.1 [53.3, 91.9] EDGE | 86.9 [72.1, 98.8] EDGE | 95.8 [72.2, 98.4] EDGE | 81.1% TIES | 45.9% TIES | 16.3% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-small_mid-profit | 468 | 29 | 46.5 [16.6, 78.8] NOT DETECTED | 51.5 [18.1, 83.9] NOT DETECTED | 53.2 [19.6, 82.8] NOT DETECTED | 31.4% TIES | 23.7% TIES | 8.1% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-small_mid-solvent | 487 | 13 | 85.0 [49.5, 91.8] NOT DETECTED | 87.0 [72.4, 98.4] EDGE | 94.6 [70.6, 98.4] EDGE | 80.1% TIES | 44.6% TIES | 13.8% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-mid_large-none | 498 | 1 | 89.8 [45.6, 97.4] NOT DETECTED | 66.2 [40.1, 99.0] NOT DETECTED | 97.8 [54.1, 99.6] EDGE | 80.9% TIES | 63.5% TIES | 27.3% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-mid_large-profit | 492 | 6 | 90.4 [38.2, 98.0] NOT DETECTED | 72.1 [24.7, 97.8] NOT DETECTED | 94.8 [42.9, 99.4] NOT DETECTED | 67.9% TIES | 60.8% TIES | 28.5% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-mid_large-solvent | 496 | 3 | 91.2 [48.2, 97.4] NOT DETECTED | 71.4 [44.2, 98.6] NOT DETECTED | 97.6 [60.2, 99.4] EDGE | 82.3% TIES | 63.5% TIES | 25.8% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-ex_micro-none | 493 | 6 | 88.6 [49.2, 95.6] NOT DETECTED | 94.0 [78.2, 99.2] EDGE | 98.6 [75.7, 99.2] EDGE | 84.2% TIES | 56.6% TIES | 17.8% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-ex_micro-profit | 484 | 16 | 65.3 [17.8, 92.2] NOT DETECTED | 67.0 [19.9, 95.8] NOT DETECTED | 78.9 [27.2, 96.8] NOT DETECTED | 46.7% TIES | 38.2% TIES | 13.6% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-ex_micro-solvent | 483 | 15 | 87.0 [47.6, 95.4] NOT DETECTED | 89.4 [69.2, 99.0] EDGE | 98.2 [70.2, 99.0] EDGE | 80.3% TIES | 55.5% TIES | 16.4% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-all-none | 489 | 11 | 96.8 [67.0, 98.6] EDGE | 98.6 [86.4, 99.6] EDGE | 99.8 [84.8, 99.8] EDGE | 93.9% BEATS | 46.4% TIES | 13.3% TRAILS | - | DOES NOT PERSIST | PERSISTS |
| A-all-profit | 485 | 12 | 60.2 [16.2, 90.6] NOT DETECTED | 80.6 [28.4, 96.6] NOT DETECTED | 82.0 [31.1, 96.2] NOT DETECTED | 42.5% TIES | 33.0% TIES | 9.5% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-all-solvent | 482 | 15 | 94.3 [61.4, 97.4] EDGE | 97.7 [86.2, 99.4] EDGE | 99.2 [83.8, 99.6] EDGE | 94.2% BEATS | 50.6% TIES | 14.3% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| A-all-solvent18 | 490 | 8 | 99.4 [80.6, 99.8] EDGE | 100.0 [97.4, 100.0] EDGE | 100.0 [96.4, 100.0] EDGE | 96.5% BEATS | 77.3% TIES | 29.4% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-basic_materials-all-none | 195 | 4 | 79.8 [43.8, 93.6] NOT DETECTED | 91.8 [54.6, 97.1] EDGE | 85.2 [48.0, 94.4] NOT DETECTED | 80.0% TIES | 41.5% TIES | 5.1% TIES | 64.6% TIES (XLB) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-basic_materials-all-profit | 195 | 4 | 40.2 [19.8, 71.3] NOT DETECTED | 71.0 [25.4, 89.2] NOT DETECTED | 47.2 [23.1, 78.3] NOT DETECTED | 20.5% TIES | 25.1% TIES | 7.2% TIES | 45.1% TIES (XLB) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-basic_materials-ex_micro-none | 197 | 2 | 55.2 [24.8, 81.7] NOT DETECTED | 61.4 [28.9, 87.8] NOT DETECTED | 59.4 [27.6, 82.2] NOT DETECTED | 32.5% TIES | 20.3% TIES | 5.1% TIES | 42.6% TIES (XLB) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-basic_materials-ex_micro-profit | 195 | 5 | 29.8 [14.4, 63.8] NOT DETECTED | 66.6 [22.7, 86.2] NOT DETECTED | 39.6 [19.4, 72.0] NOT DETECTED | 13.8% TIES | 16.9% TIES | 2.1% TRAILS | 31.3% TIES (XLB) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-communication_services-all-none | 196 | 4 | 98.2 [76.2, 98.6] EDGE | 99.6 [96.6, 99.8] EDGE | 99.8 [91.9, 99.6] EDGE | 93.9% BEATS | 12.8% TIES | 2.0% TRAILS | 7.1% TIES (XLC) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-communication_services-all-profit | 195 | 5 | 94.4 [65.6, 97.5] EDGE | 93.0 [80.8, 98.6] EDGE | 98.2 [78.0, 99.2] EDGE | 87.7% BEATS | 20.5% TIES | 4.1% TRAILS | 12.3% TIES (XLC) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-communication_services-ex_micro-none | 192 | 8 | 88.9 [61.7, 92.9] EDGE | 92.2 [83.0, 98.7] EDGE | 94.5 [71.7, 96.2] EDGE | 87.0% BEATS | 3.6% TRAILS | 0.0% TRAILS | 1.6% TIES (XLC) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-communication_services-ex_micro-profit | 188 | 12 | 88.2 [59.1, 95.4] EDGE | 71.6 [57.2, 94.6] EDGE | 92.5 [62.2, 97.0] EDGE | 83.5% TIES | 9.0% TIES | 0.0% TRAILS | 4.3% TIES (XLC) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-consumer_cyclical-all-none | 198 | 2 | 89.1 [27.0, 98.6] NOT DETECTED | 95.1 [64.4, 99.5] EDGE | 95.5 [38.2, 99.4] NOT DETECTED | 85.9% TIES | 20.7% TIES | 4.5% TRAILS | 18.2% TIES (XLY) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-consumer_cyclical-all-profit | 190 | 10 | 45.2 [9.8, 83.2] NOT DETECTED | 54.7 [30.4, 90.8] NOT DETECTED | 57.6 [12.0, 88.2] NOT DETECTED | 33.2% TIES | 8.4% TRAILS | 0.0% TRAILS | 7.9% TIES (XLY) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-consumer_cyclical-ex_micro-none | 194 | 5 | 71.3 [17.1, 93.6] NOT DETECTED | 80.2 [45.7, 96.8] NOT DETECTED | 81.9 [23.8, 96.7] NOT DETECTED | 70.6% TIES | 11.3% TIES | 0.5% TRAILS | 8.8% TIES (XLY) | DOES NOT PERSIST | PERSISTS |
| B-consumer_cyclical-ex_micro-profit | 194 | 5 | 51.0 [16.2, 82.4] NOT DETECTED | 63.6 [38.8, 84.4] NOT DETECTED | 58.9 [19.2, 86.2] NOT DETECTED | 38.1% TIES | 9.3% TIES | 3.1% TRAILS | 8.8% TIES (XLY) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-consumer_defensive-all-none | 194 | 5 | 89.1 [44.5, 96.2] NOT DETECTED | 99.0 [80.6, 99.2] EDGE | 93.8 [50.7, 98.2] EDGE | 89.2% TIES | 1.0% TRAILS | 0.0% TRAILS | 12.4% TIES (XLP) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-consumer_defensive-all-profit | 195 | 5 | 37.0 [17.6, 64.4] NOT DETECTED | 63.4 [37.6, 71.6] NOT DETECTED | 41.8 [18.2, 65.8] NOT DETECTED | 20.0% TIES | 1.5% TRAILS | 0.0% TRAILS | 9.7% TIES (XLP) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-consumer_defensive-ex_micro-none | 195 | 4 | 62.8 [28.6, 83.2] NOT DETECTED | 84.6 [52.3, 89.8] EDGE | 68.2 [33.2, 86.2] NOT DETECTED | 52.8% TIES | 3.1% TRAILS | 0.5% TRAILS | 18.5% TIES (XLP) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-consumer_defensive-ex_micro-profit | 188 | 11 | 31.2 [14.0, 60.4] NOT DETECTED | 49.4 [29.0, 68.2] NOT DETECTED | 33.7 [15.9, 60.4] NOT DETECTED | 13.8% TIES | 0.5% TRAILS | 0.0% TRAILS | 6.9% TIES (XLP) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-cyclical-all-none | 197 | 2 | 92.6 [50.6, 97.2] EDGE | 96.6 [81.2, 99.0] EDGE | 97.8 [72.4, 99.0] EDGE | 90.4% TIES | 55.3% TIES | 11.2% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-cyclical-all-profit | 197 | 2 | 54.2 [18.3, 82.0] NOT DETECTED | 74.4 [56.6, 90.8] EDGE | 73.4 [39.4, 91.4] NOT DETECTED | 35.0% TIES | 35.0% TIES | 10.7% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-cyclical-ex_micro-none | 197 | 3 | 73.8 [31.8, 90.8] NOT DETECTED | 87.2 [67.4, 95.4] EDGE | 89.2 [55.8, 95.6] EDGE | 60.9% TIES | 47.7% TIES | 11.2% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-cyclical-ex_micro-profit | 196 | 4 | 53.1 [21.2, 79.4] NOT DETECTED | 80.5 [52.6, 91.7] EDGE | 79.2 [44.8, 90.3] NOT DETECTED | 33.7% TIES | 34.7% TIES | 6.1% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-defensive-all-none | 193 | 7 | 99.8 [82.6, 100.0] EDGE | 100.0 [99.8, 100.0] EDGE | 100.0 [96.4, 100.0] EDGE | 99.0% BEATS | 15.5% TIES | 2.6% TRAILS | - | DOES NOT PERSIST | PERSISTS |
| B-defensive-all-profit | 190 | 10 | 27.9 [13.0, 61.5] NOT DETECTED | 50.8 [18.2, 76.4] NOT DETECTED | 32.1 [14.4, 67.6] NOT DETECTED | 17.9% TIES | 1.1% TRAILS | 0.0% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-defensive-ex_micro-none | 196 | 4 | 87.7 [40.2, 97.6] NOT DETECTED | 100.0 [96.0, 100.0] EDGE | 98.2 [66.2, 99.6] EDGE | 94.9% TIES | 8.2% TIES | 0.5% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-defensive-ex_micro-profit | 184 | 16 | 19.7 [9.4, 54.2] NOT DETECTED | 33.0 [9.9, 67.4] NOT DETECTED | 18.7 [9.7, 56.3] NOT DETECTED | 8.7% TRAILS | 1.6% TRAILS | 0.5% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-energy-all-none | 196 | 4 | 96.0 [64.0, 99.0] EDGE | 91.2 [59.8, 99.6] EDGE | 99.0 [77.2, 99.8] EDGE | 90.3% BEATS | 73.0% TIES | 45.9% TIES | 75.0% TIES (XLE) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-energy-all-profit | 196 | 4 | 81.1 [42.6, 96.0] NOT DETECTED | 62.4 [30.8, 79.2] NOT DETECTED | 83.8 [45.1, 96.8] NOT DETECTED | 70.9% TIES | 71.9% TIES | 42.9% TIES | 74.0% TIES (XLE) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-energy-ex_micro-none | 198 | 2 | 89.4 [46.8, 97.2] NOT DETECTED | 92.7 [64.0, 99.4] EDGE | 96.6 [68.4, 99.5] EDGE | 80.3% TIES | 58.6% TIES | 26.8% TIES | 65.7% TIES (XLE) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-energy-ex_micro-profit | 196 | 3 | 81.3 [40.0, 94.0] NOT DETECTED | 73.5 [41.4, 85.4] NOT DETECTED | 85.1 [46.6, 96.4] NOT DETECTED | 59.2% TIES | 58.2% TIES | 31.6% TIES | 59.2% TIES (XLE) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-financial-all-none | 200 | 0 | 90.2 [48.8, 97.2] NOT DETECTED | 75.1 [33.1, 90.6] NOT DETECTED | 94.0 [57.0, 98.5] EDGE | 72.0% TIES | 41.5% TIES | 18.5% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-financial-all-profit | 196 | 3 | 92.8 [40.5, 99.2] NOT DETECTED | 66.2 [7.8, 92.2] NOT DETECTED | 88.4 [34.5, 98.2] NOT DETECTED | 60.2% TIES | 50.5% TIES | 32.1% TIES | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-financial-ex_micro-none | 198 | 2 | 80.6 [32.2, 96.2] NOT DETECTED | 73.6 [16.4, 96.6] NOT DETECTED | 86.7 [35.6, 97.4] NOT DETECTED | 56.6% TIES | 35.4% TIES | 17.7% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-financial-ex_micro-profit | 194 | 5 | 84.5 [30.1, 95.9] NOT DETECTED | 79.0 [13.0, 94.0] NOT DETECTED | 84.5 [32.0, 96.0] NOT DETECTED | 47.9% TIES | 32.0% TIES | 12.4% TRAILS | - | DOES NOT PERSIST | DOES NOT PERSIST |
| B-financial_services-all-none | 199 | 0 | 73.0 [39.0, 89.2] NOT DETECTED | 57.0 [31.8, 87.0] NOT DETECTED | 81.2 [47.6, 93.2] NOT DETECTED | 64.3% TIES | 37.2% TIES | 14.1% TIES | 28.6% TIES (XLF) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-financial_services-all-profit | 196 | 4 | 77.6 [29.0, 94.6] NOT DETECTED | 52.4 [4.0, 79.1] NOT DETECTED | 69.4 [21.4, 92.3] NOT DETECTED | 51.5% TIES | 46.4% TIES | 24.5% TIES | 39.8% TIES (XLF) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-financial_services-ex_micro-none | 198 | 2 | 59.5 [16.6, 92.4] NOT DETECTED | 75.1 [10.2, 96.0] NOT DETECTED | 72.2 [20.3, 94.8] NOT DETECTED | 42.9% TIES | 33.3% TIES | 14.6% TRAILS | 28.3% TIES (XLF) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-financial_services-ex_micro-profit | 193 | 7 | 70.6 [18.2, 93.6] NOT DETECTED | 68.4 [6.3, 92.8] NOT DETECTED | 72.8 [19.8, 92.6] NOT DETECTED | 44.6% TIES | 39.9% TIES | 16.1% TRAILS | 35.8% TIES (XLF) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-growth-all-none | 191 | 8 | 99.8 [89.8, 99.8] EDGE | 99.4 [92.6, 99.8] EDGE | 100.0 [97.4, 100.0] EDGE | 98.4% BEATS | 93.2% TIES | 83.8% TIES | - | DOES NOT PERSIST | PERSISTS |
| B-growth-all-profit | 191 | 8 | 97.0 [71.1, 98.6] EDGE | 70.0 [52.7, 95.8] EDGE | 98.2 [77.4, 99.6] EDGE | 92.1% BEATS | 91.6% TIES | 77.5% TIES | - | DOES NOT PERSIST | PERSISTS |
| B-growth-ex_micro-none | 195 | 5 | 96.6 [74.5, 98.4] EDGE | 86.0 [74.4, 97.8] EDGE | 99.4 [86.0, 99.8] EDGE | 89.7% BEATS | 88.2% TIES | 72.8% TIES | - | DOES NOT PERSIST | PERSISTS |
| B-growth-ex_micro-profit | 194 | 5 | 91.0 [58.7, 98.2] EDGE | 39.3 [33.1, 93.5] NOT DETECTED | 96.6 [62.8, 99.4] EDGE | 82.0% TIES | 86.6% TIES | 65.5% TIES | - | DOES NOT PERSIST | PERSISTS |
| B-healthcare-all-none | 200 | 0 | 100.0 [93.0, 100.0] EDGE | 100.0 [100.0, 100.0] EDGE | 100.0 [99.6, 100.0] EDGE | 100.0% BEATS | 54.5% TIES | 13.0% TIES | 63.5% TIES (XLV) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-healthcare-all-profit | 195 | 5 | 81.6 [41.6, 92.8] NOT DETECTED | 95.6 [69.8, 97.4] EDGE | 90.8 [59.4, 95.9] EDGE | 65.1% TIES | 33.3% TIES | 7.2% TIES | 44.1% TIES (XLV) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-healthcare-ex_micro-none | 196 | 4 | 97.4 [57.4, 99.8] EDGE | 100.0 [97.9, 100.0] EDGE | 100.0 [88.0, 100.0] EDGE | 99.5% TIES | 28.1% TIES | 4.6% TIES | 44.4% TIES (XLV) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-healthcare-ex_micro-profit | 191 | 7 | 63.6 [32.8, 84.3] NOT DETECTED | 80.8 [48.4, 94.0] NOT DETECTED | 77.2 [40.6, 92.7] NOT DETECTED | 43.5% TIES | 23.6% TIES | 2.6% TRAILS | 34.0% TIES (XLV) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-industrials-all-none | 198 | 2 | 94.3 [56.2, 97.8] EDGE | 97.2 [84.8, 98.6] EDGE | 99.2 [80.1, 99.4] EDGE | 95.5% TIES | 82.8% TIES | 33.3% TIES | 68.7% TIES (XLI) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-industrials-all-profit | 191 | 9 | 50.0 [17.0, 80.7] NOT DETECTED | 86.8 [40.1, 93.4] NOT DETECTED | 75.2 [36.6, 91.0] NOT DETECTED | 33.5% TIES | 59.2% TIES | 18.8% TIES | 40.3% TIES (XLI) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-industrials-ex_micro-none | 200 | 0 | 75.8 [31.9, 92.0] NOT DETECTED | 93.4 [65.8, 96.2] EDGE | 93.9 [60.0, 97.4] EDGE | 60.0% TIES | 67.0% TIES | 30.0% TIES | 53.0% TIES (XLI) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-industrials-ex_micro-profit | 192 | 8 | 45.1 [13.4, 83.2] NOT DETECTED | 85.8 [38.8, 94.8] NOT DETECTED | 73.1 [36.0, 93.4] NOT DETECTED | 32.8% TIES | 58.3% TIES | 27.1% TIES | 40.1% TIES (XLI) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-real_estate-all-none | 198 | 2 | 52.7 [24.2, 77.8] NOT DETECTED | 33.4 [27.2, 77.6] NOT DETECTED | 55.3 [23.0, 84.6] NOT DETECTED | 50.0% TIES | 0.5% TRAILS | 0.0% TRAILS | 8.1% TIES (XLRE) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-real_estate-all-profit | 193 | 7 | 23.4 [13.9, 58.2] NOT DETECTED | 20.8 [16.4, 59.8] NOT DETECTED | 27.8 [15.0, 65.8] NOT DETECTED | 28.0% TIES | 0.0% TRAILS | 0.0% TRAILS | 9.8% TIES (XLRE) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-real_estate-ex_micro-none | 194 | 6 | 21.5 [9.6, 57.6] NOT DETECTED | 23.6 [15.6, 55.4] NOT DETECTED | 21.3 [10.3, 60.6] NOT DETECTED | 28.9% TIES | 0.0% TRAILS | 0.0% TRAILS | 10.8% TIES (XLRE) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-real_estate-ex_micro-profit | 194 | 5 | 23.6 [15.5, 54.1] NOT DETECTED | 26.6 [15.2, 61.6] NOT DETECTED | 26.6 [16.3, 62.7] NOT DETECTED | 30.4% TIES | 0.0% TRAILS | 0.0% TRAILS | 12.9% TIES (XLRE) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-technology-all-none | 196 | 4 | 99.8 [86.6, 99.8] EDGE | 99.8 [95.0, 100.0] EDGE | 100.0 [97.8, 100.0] EDGE | 96.9% BEATS | 93.9% BEATS | 90.3% TIES | 13.3% TIES (XLK) | DOES NOT PERSIST | PERSISTS |
| B-technology-all-profit | 194 | 6 | 89.4 [54.4, 95.6] EDGE | 61.9 [46.4, 98.2] NOT DETECTED | 97.7 [70.8, 99.2] EDGE | 84.0% TIES | 90.7% TIES | 81.4% TIES | 7.7% TIES (XLK) | DOES NOT PERSIST | PERSISTS |
| B-technology-ex_micro-none | 194 | 6 | 89.3 [59.6, 96.2] EDGE | 79.0 [60.4, 97.4] EDGE | 98.6 [76.4, 99.3] EDGE | 88.7% BEATS | 91.8% TIES | 75.3% TIES | 8.2% TRAILS (XLK) | DOES NOT PERSIST | PERSISTS |
| B-technology-ex_micro-profit | 195 | 5 | 89.8 [55.8, 97.2] EDGE | 56.2 [40.5, 98.6] NOT DETECTED | 98.2 [68.6, 99.6] EDGE | 83.6% TIES | 89.7% TIES | 84.1% TIES | 13.8% TIES (XLK) | DOES NOT PERSIST | PERSISTS |
| B-utilities-all-none | 196 | 4 | 43.5 [22.5, 67.2] NOT DETECTED | 50.1 [31.8, 75.3] NOT DETECTED | 45.5 [23.8, 67.8] NOT DETECTED | 27.6% TIES | 0.5% TRAILS | 0.0% TRAILS | 4.1% TIES (XLU) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-utilities-all-profit | 193 | 7 | 14.2 [10.4, 38.4] HARM | 41.6 [18.5, 60.1] NOT DETECTED | 18.8 [11.6, 41.3] HARM | 10.4% TRAILS | 0.0% TRAILS | 0.0% TRAILS | 1.0% TRAILS (XLU) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-utilities-ex_micro-none | 190 | 10 | 24.1 [13.4, 58.7] NOT DETECTED | 40.2 [21.0, 68.5] NOT DETECTED | 23.5 [14.0, 55.8] NOT DETECTED | 15.3% TIES | 0.5% TRAILS | 0.5% TRAILS | 4.2% TIES (XLU) | DOES NOT PERSIST | DOES NOT PERSIST |
| B-utilities-ex_micro-profit | 187 | 13 | 12.4 [8.4, 40.4] HARM | 30.8 [13.8, 58.8] NOT DETECTED | 12.8 [8.4, 41.0] HARM | 7.0% TRAILS | 0.0% TRAILS | 0.0% TRAILS | 1.6% TRAILS (XLU) | DOES NOT PERSIST | DOES NOT PERSIST |
Distribution of verdicts across the 88 non-thin cells
Chance alone at the 5% level would produce EDGE on about 4.4 cells; the upper 95% binomial bound is 8. The broad claim needs more than 8 cells with EDGE on a test.
| Test | EDGE / BEATS / PERSISTS / ADDS | NOT DETECTED / TIES / DOES NOT PERSIST | HARM / TRAILS / SUBTRACTS |
|---|---|---|---|
| T4_cagr | 0 | 88 | 0 |
| T4_maxdd | 11 | 77 | 0 |
| T5_pool | 20 | 65 | 3 |
| T5_rsp | 1 | 70 | 17 |
| T5_sector | 0 | 41 | 3 |
| T5_spy | 0 | 43 | 45 |
| T7_a_shallow_dd_cagr | 5 | 83 | 0 |
| T7_a_shallow_dd_maxdd | 17 | 71 | 0 |
| T7_b_above_bar_cagr | 3 | 85 | 0 |
| T7_b_above_bar_maxdd | 1 | 87 | 0 |
| T_cagr | 29 | 57 | 2 |
| T_maxdd | 43 | 45 | 0 |
| T_sharpe | 43 | 43 | 2 |
| T_vol | 52 | 36 | 0 |
4. Exploration findings (design-space arm, FULL span, medians across pooled draws)
F2, size (Tier A, all gates pooled)
| size | draws | T1 CAGR | T2 max DD | T2 vol | T3 Sharpe | median CAGR (traded) | stood aside |
|---|---|---|---|---|---|---|---|
| micro | 1471 | 100.0 | 100.0 | 100.0 | 100.0 | 13.6% | 0.0% |
| small | 1455 | 71.8 | 86.4 | 99.8 | 86.2 | 9.7% | 0.0% |
| mid | 1468 | 90.6 | 73.2 | 95.4 | 95.4 | 13.9% | 0.0% |
| large | 1485 | 84.6 | 43.4 | 71.2 | 89.4 | 12.7% | 0.0% |
| micro_small | 1453 | 95.2 | 96.2 | 100.0 | 98.4 | 10.0% | 0.0% |
| small_mid | 1441 | 78.2 | 79.2 | 99.0 | 88.4 | 11.2% | 0.0% |
| mid_large | 1486 | 90.4 | 69.6 | 97.0 | 97.0 | 13.5% | 0.0% |
| ex_micro | 1460 | 84.2 | 84.2 | 99.8 | 95.8 | 12.1% | 0.0% |
| all | 1946 | 95.4 | 98.4 | 100.0 | 99.4 | 12.1% | 0.0% |
F3, gates (Tier A, all sizes pooled)
| gate | draws | T1 CAGR | T2 max DD | T2 vol | T3 Sharpe | median CAGR (traded) | stood aside |
|---|---|---|---|---|---|---|---|
| none | 4417 | 93.2 | 94.6 | 99.8 | 98.4 | 11.8% | 0.0% |
| profit | 4360 | 71.6 | 68.2 | 89.4 | 81.1 | 12.6% | 7.3% |
| solvent | 4398 | 92.0 | 91.8 | 99.8 | 98.2 | 11.9% | 0.0% |
| solvent18 | 490 | 99.4 | 100.0 | 100.0 | 100.0 | 13.6% | 0.0% |
F4, engine-chosen universe floor on vs off (Tier A pooled)
| universe_floor | draws | T1 CAGR | T2 max DD | T2 vol | T3 Sharpe | median CAGR (traded) | stood aside |
|---|---|---|---|---|---|---|---|
| True | 6895 | 90.0 | 87.2 | 98.8 | 96.4 | 12.4% | 0.0% |
| False | 6770 | 88.6 | 88.0 | 99.0 | 95.8 | 11.9% | 0.0% |
F8, training window (Tier A pooled)
| lookback | draws | T1 CAGR | T2 max DD | T2 vol | T3 Sharpe | median CAGR (traded) | stood aside |
|---|---|---|---|---|---|---|---|
| expanding | 2636 | 89.8 | 94.0 | 99.8 | 97.4 | 12.1% | 0.0% |
| 12 | 2827 | 90.6 | 87.4 | 98.6 | 96.4 | 12.5% | 0.0% |
| 16 | 2784 | 89.0 | 77.4 | 97.2 | 94.4 | 12.1% | 0.0% |
| 20 | 2754 | 88.6 | 80.8 | 98.0 | 95.4 | 12.1% | 0.0% |
| 24 | 2664 | 89.0 | 91.1 | 99.4 | 96.6 | 11.9% | 0.0% |
F6, holdings count and blend size (Tier A pooled)
| holdings_bucket | draws | T1 CAGR | T2 max DD | T2 vol | T3 Sharpe | median CAGR (traded) | stood aside |
|---|---|---|---|---|---|---|---|
| 5-7 | 3793 | 85.2 | 87.0 | 97.8 | 92.4 | 11.7% | 0.0% |
| 8-11 | 4912 | 89.4 | 87.4 | 98.8 | 95.8 | 12.1% | 0.0% |
| 12-15 | 4960 | 92.4 | 88.4 | 99.4 | 98.0 | 12.4% | 0.0% |
| n_flavors | draws | T1 CAGR | T2 max DD | T2 vol | T3 Sharpe | median CAGR (traded) | stood aside |
|---|---|---|---|---|---|---|---|
| 1 | 2109 | 79.2 | 80.0 | 88.6 | 86.6 | 11.2% | 9.8% |
| 2 | 2318 | 86.3 | 84.8 | 95.8 | 92.8 | 11.5% | 0.0% |
| 3 | 2316 | 89.8 | 86.0 | 98.4 | 95.8 | 12.2% | 0.0% |
| 4 | 2412 | 90.0 | 90.2 | 99.4 | 97.0 | 12.1% | 0.0% |
| 5 | 2306 | 91.4 | 90.0 | 99.6 | 97.8 | 12.6% | 0.0% |
| 6 | 2204 | 93.0 | 90.6 | 99.8 | 98.4 | 12.8% | 0.0% |
Other dials (Tier A pooled)
| stability | draws | T1 CAGR | T2 max DD | T2 vol | T3 Sharpe | median CAGR (traded) | stood aside |
|---|---|---|---|---|---|---|---|
| standard | 6899 | 90.2 | 87.2 | 99.0 | 96.6 | 12.2% | 0.0% |
| strict | 6766 | 88.4 | 88.0 | 98.6 | 95.4 | 12.1% | 0.0% |
| ic_floor | draws | T1 CAGR | T2 max DD | T2 vol | T3 Sharpe | median CAGR (traded) | stood aside |
|---|---|---|---|---|---|---|---|
| 0.01 | 4629 | 90.4 | 85.8 | 98.8 | 96.8 | 12.1% | 0.0% |
| 0.02 | 4524 | 89.2 | 87.4 | 98.8 | 96.0 | 12.1% | 0.0% |
| 0.03 | 4512 | 88.4 | 89.7 | 99.0 | 95.6 | 12.2% | 0.0% |
| cadence | draws | T1 CAGR | T2 max DD | T2 vol | T3 Sharpe | median CAGR (traded) | stood aside |
|---|---|---|---|---|---|---|---|
| quarterly | 6901 | 89.8 | 89.8 | 99.2 | 96.6 | 12.3% | 0.0% |
| boundary | 6764 | 88.8 | 85.0 | 98.6 | 95.6 | 12.0% | 0.0% |
F5, sectors (Tier B, per sector set, its 4 cells pooled)
| Sector set | draws | T1 CAGR | T2 max DD | T3 Sharpe | share beating sector ETF | share beating universe avg | share beating SPY |
|---|---|---|---|---|---|---|---|
| Basic Materials | 782 | 51.7 | 74.7 | 59.4 | 45.9% | 36.7% | 4.9% |
| Communication Services | 771 | 93.0 | 93.8 | 97.4 | 6.4% | 88.1% | 1.6% |
| Consumer Cyclical | 776 | 67.5 | 77.2 | 76.8 | 11.0% | 57.2% | 2.1% |
| Consumer Cyclical+Industrials+Basic Materials+Energy | 787 | 72.6 | 87.0 | 88.6 | n/a | 55.0% | 9.8% |
| Consumer Defensive | 772 | 56.7 | 77.6 | 61.3 | 11.9% | 44.2% | 0.1% |
| Consumer Defensive+Utilities+Healthcare | 763 | 73.8 | 97.0 | 81.0 | n/a | 56.0% | 0.9% |
| Energy | 786 | 88.9 | 82.6 | 93.3 | 68.4% | 75.2% | 36.8% |
| Financial Services | 786 | 70.4 | 64.2 | 74.1 | 33.1% | 50.9% | 17.3% |
| Financial Services+Real Estate | 788 | 87.8 | 73.7 | 89.4 | n/a | 59.3% | 20.2% |
| Healthcare | 782 | 95.5 | 100.0 | 99.6 | 46.7% | 77.4% | 6.9% |
| Industrials | 781 | 74.8 | 92.4 | 91.0 | 50.7% | 55.8% | 27.4% |
| Real Estate | 779 | 30.6 | 26.2 | 32.8 | 10.4% | 34.4% | 0.0% |
| Technology | 779 | 94.6 | 87.0 | 99.4 | 10.8% | 88.3% | 82.8% |
| Technology+Communication Services | 771 | 97.6 | 84.4 | 99.4 | n/a | 90.5% | 74.8% |
| Utilities | 766 | 22.0 | 41.8 | 24.5 | 2.7% | 15.1% | 0.1% |
F7, F9, F10: stood-aside, refusals, turnover, portfolio size per cell (design-space arm, FULL span)
| Cell | n | refused | stood-aside rate (median draw) | turnover per quarter (median) | names held (median draw) | requested (median) |
|---|---|---|---|---|---|---|
| A-micro-none | 492 | 5 | 0.0% | 66.7% | 11.0 | 11 |
| A-micro-profit | 488 | 9 | 0.0% | 75.0% | 10.0 | 10 |
| A-micro-solvent | 491 | 7 | 0.0% | 66.7% | 10.0 | 10 |
| A-small-none | 485 | 15 | 0.0% | 72.7% | 10.0 | 10 |
| A-small-profit | 486 | 12 | 26.8% | 80.0% | 10.0 | 10 |
| A-small-solvent | 484 | 14 | 0.0% | 73.3% | 10.0 | 10 |
| A-mid-none | 492 | 5 | 0.0% | 71.4% | 10.0 | 10 |
| A-mid-profit | 486 | 10 | 6.1% | 75.0% | 10.0 | 10 |
| A-mid-solvent | 490 | 4 | 0.0% | 73.3% | 10.0 | 10 |
| A-large-none | 496 | 2 | 0.0% | 58.7% | 10.0 | 10 |
| A-large-profit | 494 | 5 | 4.9% | 61.5% | 10.0 | 10 |
| A-large-solvent | 495 | 3 | 0.0% | 57.1% | 10.0 | 10 |
| A-micro_small-none | 486 | 13 | 0.0% | 75.0% | 10.0 | 10 |
| A-micro_small-profit | 477 | 20 | 9.8% | 83.3% | 10.0 | 10 |
| A-micro_small-solvent | 490 | 5 | 0.0% | 75.0% | 10.0 | 10 |
| A-small_mid-none | 486 | 12 | 0.0% | 73.3% | 10.0 | 10 |
| A-small_mid-profit | 468 | 29 | 23.2% | 79.3% | 10.0 | 10 |
| A-small_mid-solvent | 487 | 13 | 0.0% | 75.0% | 10.0 | 10 |
| A-mid_large-none | 498 | 1 | 0.0% | 70.0% | 10.0 | 10 |
| A-mid_large-profit | 492 | 6 | 4.9% | 75.0% | 9.0 | 9 |
| A-mid_large-solvent | 496 | 3 | 0.0% | 71.4% | 10.0 | 10 |
| A-ex_micro-none | 493 | 6 | 0.0% | 71.4% | 10.0 | 10 |
| A-ex_micro-profit | 484 | 16 | 7.3% | 76.9% | 10.0 | 10 |
| A-ex_micro-solvent | 483 | 15 | 0.0% | 72.7% | 10.0 | 10 |
| A-all-none | 489 | 11 | 0.0% | 75.0% | 10.0 | 10 |
| A-all-profit | 485 | 12 | 7.3% | 81.2% | 10.0 | 10 |
| A-all-solvent | 482 | 15 | 0.0% | 76.9% | 10.0 | 10 |
| A-all-solvent18 | 490 | 8 | 0.0% | 75.0% | 10.0 | 10 |
| B-basic_materials-all-none | 195 | 4 | 0.0% | 58.3% | 10.0 | 10 |
| B-basic_materials-all-profit | 195 | 4 | 4.9% | 60.0% | 10.0 | 10 |
| B-basic_materials-ex_micro-none | 197 | 2 | 2.4% | 57.7% | 11.0 | 11 |
| B-basic_materials-ex_micro-profit | 195 | 5 | 9.8% | 60.0% | 10.0 | 10 |
| B-communication_services-all-none | 196 | 4 | 0.0% | 57.1% | 9.0 | 9 |
| B-communication_services-all-profit | 195 | 5 | 0.0% | 58.3% | 9.0 | 9 |
| B-communication_services-ex_micro-none | 192 | 8 | 0.0% | 57.1% | 10.0 | 10 |
| B-communication_services-ex_micro-profit | 188 | 12 | 1.2% | 53.8% | 11.0 | 11 |
| B-consumer_cyclical-all-none | 198 | 2 | 0.0% | 61.5% | 10.0 | 10 |
| B-consumer_cyclical-all-profit | 190 | 10 | 0.0% | 63.5% | 10.0 | 10 |
| B-consumer_cyclical-ex_micro-none | 194 | 5 | 0.0% | 62.5% | 10.0 | 10 |
| B-consumer_cyclical-ex_micro-profit | 194 | 5 | 4.9% | 66.7% | 10.0 | 10 |
| B-consumer_defensive-all-none | 194 | 5 | 0.0% | 57.1% | 10.0 | 10 |
| B-consumer_defensive-all-profit | 195 | 5 | 4.9% | 57.1% | 10.0 | 10 |
| B-consumer_defensive-ex_micro-none | 195 | 4 | 0.0% | 55.6% | 10.0 | 10 |
| B-consumer_defensive-ex_micro-profit | 188 | 11 | 4.9% | 50.0% | 10.0 | 10 |
| B-cyclical-all-none | 197 | 2 | 0.0% | 70.8% | 10.0 | 10 |
| B-cyclical-all-profit | 197 | 2 | 2.4% | 75.0% | 10.0 | 10 |
| B-cyclical-ex_micro-none | 197 | 3 | 0.0% | 71.4% | 10.0 | 10 |
| B-cyclical-ex_micro-profit | 196 | 4 | 7.3% | 70.0% | 10.0 | 10 |
| B-defensive-all-none | 193 | 7 | 0.0% | 58.3% | 11.0 | 11 |
| B-defensive-all-profit | 190 | 10 | 4.9% | 66.7% | 10.0 | 10 |
| B-defensive-ex_micro-none | 196 | 4 | 0.0% | 61.3% | 9.0 | 9 |
| B-defensive-ex_micro-profit | 184 | 16 | 19.5% | 62.5% | 11.0 | 11 |
| B-energy-all-none | 196 | 4 | 0.0% | 66.7% | 10.0 | 10 |
| B-energy-all-profit | 196 | 4 | 0.0% | 66.7% | 10.0 | 10 |
| B-energy-ex_micro-none | 198 | 2 | 0.0% | 66.7% | 10.0 | 10 |
| B-energy-ex_micro-profit | 196 | 3 | 0.0% | 66.7% | 10.0 | 10 |
| B-financial-all-none | 200 | 0 | 0.0% | 70.4% | 10.0 | 10 |
| B-financial-all-profit | 196 | 3 | 9.8% | 66.7% | 10.0 | 10 |
| B-financial-ex_micro-none | 198 | 2 | 9.8% | 71.4% | 10.0 | 10 |
| B-financial-ex_micro-profit | 194 | 5 | 26.8% | 66.7% | 10.0 | 10 |
| B-financial_services-all-none | 199 | 0 | 0.0% | 62.5% | 10.0 | 10 |
| B-financial_services-all-profit | 196 | 4 | 4.9% | 62.0% | 10.0 | 10 |
| B-financial_services-ex_micro-none | 198 | 2 | 2.4% | 63.6% | 10.0 | 10 |
| B-financial_services-ex_micro-profit | 193 | 7 | 9.8% | 58.3% | 10.0 | 10 |
| B-growth-all-none | 191 | 8 | 0.0% | 60.0% | 10.0 | 10 |
| B-growth-all-profit | 191 | 8 | 0.0% | 60.0% | 10.0 | 10 |
| B-growth-ex_micro-none | 195 | 5 | 0.0% | 55.6% | 10.0 | 10 |
| B-growth-ex_micro-profit | 194 | 5 | 0.0% | 50.0% | 10.0 | 10 |
| B-healthcare-all-none | 200 | 0 | 0.0% | 46.2% | 10.0 | 10 |
| B-healthcare-all-profit | 195 | 5 | 2.4% | 53.3% | 10.0 | 10 |
| B-healthcare-ex_micro-none | 196 | 4 | 0.0% | 50.0% | 10.0 | 10 |
| B-healthcare-ex_micro-profit | 191 | 7 | 4.9% | 50.0% | 11.0 | 11 |
| B-industrials-all-none | 198 | 2 | 0.0% | 60.0% | 10.0 | 10 |
| B-industrials-all-profit | 191 | 9 | 0.0% | 60.0% | 10.0 | 10 |
| B-industrials-ex_micro-none | 200 | 0 | 0.0% | 60.0% | 10.0 | 10 |
| B-industrials-ex_micro-profit | 192 | 8 | 0.0% | 60.0% | 10.0 | 10 |
| B-real_estate-all-none | 198 | 2 | 0.0% | 66.7% | 9.0 | 9 |
| B-real_estate-all-profit | 193 | 7 | 9.8% | 66.7% | 10.0 | 10 |
| B-real_estate-ex_micro-none | 194 | 6 | 4.9% | 60.0% | 11.0 | 11 |
| B-real_estate-ex_micro-profit | 194 | 5 | 7.3% | 64.3% | 10.0 | 10 |
| B-technology-all-none | 196 | 4 | 0.0% | 53.8% | 11.0 | 11 |
| B-technology-all-profit | 194 | 6 | 0.0% | 60.0% | 9.5 | 10 |
| B-technology-ex_micro-none | 194 | 6 | 0.0% | 57.4% | 9.0 | 9 |
| B-technology-ex_micro-profit | 195 | 5 | 0.0% | 59.1% | 10.0 | 10 |
| B-utilities-all-none | 196 | 4 | 4.9% | 61.5% | 10.0 | 10 |
| B-utilities-all-profit | 193 | 7 | 24.4% | 60.0% | 10.0 | 10 |
| B-utilities-ex_micro-none | 190 | 10 | 22.0% | 53.8% | 10.5 | 10 |
| B-utilities-ex_micro-profit | 187 | 13 | 22.0% | 55.6% | 11.0 | 11 |
Turnover and size for the other arms on the no-gate cells:
| Cell | arm | turnover per quarter (median) | names held | requested | stood aside |
|---|---|---|---|---|---|
| A-micro-none | placebo | 81.8% | 10.0 | 10 | 0.0% |
| A-micro-none | asdesigned | 70.0% | 10.0 | 10 | 0.0% |
| A-small-none | placebo | 80.0% | 10.0 | 10 | 0.0% |
| A-small-none | asdesigned | 70.0% | 10.0 | 10 | 0.0% |
| A-mid-none | placebo | 80.0% | 10.0 | 10 | 0.0% |
| A-mid-none | asdesigned | 70.0% | 10.0 | 10 | 0.0% |
| A-large-none | placebo | 76.9% | 10.0 | 10 | 0.0% |
| A-large-none | asdesigned | 60.0% | 10.0 | 10 | 0.0% |
| A-micro_small-none | placebo | 85.7% | 10.0 | 10 | 0.0% |
| A-micro_small-none | asdesigned | 80.0% | 10.0 | 10 | 0.0% |
| A-small_mid-none | placebo | 84.6% | 10.0 | 10 | 0.0% |
| A-small_mid-none | asdesigned | 70.0% | 10.0 | 10 | 0.0% |
| A-mid_large-none | placebo | 80.0% | 10.0 | 10 | 0.0% |
| A-mid_large-none | asdesigned | 70.0% | 10.0 | 10 | 0.0% |
| A-ex_micro-none | placebo | 83.3% | 10.0 | 10 | 0.0% |
| A-ex_micro-none | asdesigned | 70.0% | 10.0 | 10 | 0.0% |
| A-all-none | placebo | 85.7% | 10.0 | 10 | 0.0% |
| A-all-none | asdesigned | 80.0% | 10.0 | 10 | 0.0% |
5. Per-holdout T1 to T3, every cell (design-space arm)
| Cell | H1 CAGR | H1 max DD | H1 Sharpe | H2 CAGR | H2 max DD | H2 Sharpe | H3 CAGR | H3 max DD | H3 Sharpe | H4 CAGR | H4 max DD | H4 Sharpe |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A-micro-none | 83.6 | 87.0 | 82.0 | 97.4 | 100.0 | 100.0 | 99.4 | 99.8 | 99.6 | 100.0 | 100.0 | 100.0 |
| A-micro-profit | 76.0 | 83.0 | 72.2 | 78.5 | 90.0 | 88.8 | 46.8 | 53.6 | 48.2 | 63.9 | 79.2 | 75.2 |
| A-micro-solvent | 76.0 | 81.6 | 71.8 | 95.6 | 99.8 | 99.8 | 97.8 | 99.0 | 98.2 | 99.6 | 100.0 | 100.0 |
| A-small-none | 55.2 | 69.4 | 46.5 | 67.9 | 91.3 | 79.7 | 81.0 | 97.8 | 90.9 | 61.1 | 97.6 | 87.9 |
| A-small-profit | 49.2 | 62.8 | 42.8 | 20.3 | 36.5 | 36.8 | 44.5 | 46.3 | 43.8 | 63.3 | 91.7 | 83.4 |
| A-small-solvent | 57.5 | 69.5 | 48.6 | 66.2 | 89.0 | 79.8 | 80.4 | 97.8 | 89.4 | 61.6 | 98.2 | 88.2 |
| A-mid-none | 85.7 | 93.9 | 88.8 | 43.6 | 44.5 | 42.8 | 77.4 | 73.6 | 80.4 | 77.2 | 96.0 | 93.6 |
| A-mid-profit | 88.0 | 97.1 | 91.1 | 19.4 | 16.0 | 22.4 | 61.0 | 54.6 | 60.2 | 67.4 | 70.8 | 71.2 |
| A-mid-solvent | 78.6 | 89.0 | 79.0 | 46.8 | 49.0 | 49.4 | 76.0 | 70.6 | 80.0 | 77.6 | 95.0 | 92.4 |
| A-large-none | 94.8 | 95.4 | 96.4 | 25.7 | 21.5 | 25.2 | 81.2 | 83.6 | 82.8 | 48.0 | 49.2 | 52.6 |
| A-large-profit | 94.9 | 93.5 | 95.7 | 14.4 | 6.4 | 11.2 | 79.8 | 73.2 | 82.6 | 78.2 | 60.3 | 73.5 |
| A-large-solvent | 95.2 | 94.8 | 96.0 | 23.3 | 17.4 | 22.9 | 81.4 | 84.2 | 83.8 | 46.6 | 52.8 | 50.4 |
| A-micro_small-none | 66.2 | 67.4 | 63.0 | 87.7 | 98.9 | 97.8 | 93.4 | 99.2 | 97.4 | 90.7 | 99.6 | 97.9 |
| A-micro_small-profit | 54.8 | 67.8 | 47.0 | 34.8 | 65.2 | 57.1 | 54.2 | 65.2 | 58.4 | 53.8 | 87.6 | 74.6 |
| A-micro_small-solvent | 56.5 | 62.2 | 53.6 | 87.8 | 98.6 | 97.6 | 90.7 | 98.6 | 96.0 | 84.5 | 99.0 | 95.4 |
| A-small_mid-none | 65.2 | 77.2 | 61.4 | 56.4 | 82.0 | 74.1 | 80.8 | 94.2 | 90.0 | 71.3 | 97.8 | 94.0 |
| A-small_mid-profit | 70.8 | 86.6 | 65.6 | 11.8 | 11.0 | 12.0 | 58.4 | 57.4 | 60.9 | 60.4 | 76.8 | 66.0 |
| A-small_mid-solvent | 69.1 | 77.4 | 66.8 | 55.6 | 75.1 | 72.3 | 82.6 | 92.8 | 90.6 | 68.4 | 97.6 | 92.1 |
| A-mid_large-none | 96.0 | 98.4 | 98.4 | 25.7 | 33.8 | 26.6 | 77.2 | 83.2 | 81.9 | 66.2 | 88.4 | 88.1 |
| A-mid_large-profit | 95.8 | 97.8 | 98.2 | 20.3 | 18.2 | 23.1 | 75.8 | 68.2 | 78.8 | 68.6 | 68.0 | 70.6 |
| A-mid_large-solvent | 94.2 | 97.6 | 97.4 | 29.3 | 36.7 | 31.8 | 81.9 | 86.0 | 88.3 | 67.8 | 87.6 | 86.8 |
| A-ex_micro-none | 90.0 | 96.2 | 93.4 | 36.6 | 67.4 | 48.8 | 81.4 | 94.6 | 90.8 | 64.2 | 94.8 | 89.0 |
| A-ex_micro-profit | 90.0 | 97.2 | 93.8 | 6.7 | 11.2 | 9.8 | 65.8 | 55.6 | 63.6 | 70.8 | 80.6 | 72.2 |
| A-ex_micro-solvent | 91.0 | 96.1 | 94.2 | 33.6 | 54.7 | 39.3 | 84.0 | 94.4 | 92.8 | 64.7 | 93.0 | 86.8 |
| A-all-none | 78.4 | 82.0 | 79.0 | 59.2 | 89.7 | 75.6 | 95.2 | 98.2 | 98.2 | 80.6 | 95.4 | 91.8 |
| A-all-profit | 90.4 | 97.2 | 93.4 | 10.4 | 30.4 | 25.6 | 60.4 | 74.0 | 72.0 | 46.7 | 73.7 | 58.5 |
| A-all-solvent | 81.0 | 83.3 | 80.4 | 53.6 | 89.2 | 73.3 | 92.6 | 97.0 | 97.2 | 76.3 | 95.6 | 90.7 |
| A-all-solvent18 | 80.8 | 89.4 | 84.6 | 81.8 | 98.2 | 94.4 | 98.4 | 98.8 | 99.6 | 83.1 | 94.2 | 91.6 |
| B-basic_materials-all-none | 66.4 | 85.6 | 60.6 | 25.0 | 33.8 | 28.8 | 89.9 | 87.8 | 87.3 | 66.7 | 70.8 | 70.4 |
| B-basic_materials-all-profit | 61.4 | 84.2 | 57.2 | 26.0 | 24.8 | 31.6 | 66.1 | 65.3 | 63.9 | 23.6 | 47.0 | 25.2 |
| B-basic_materials-ex_micro-none | 39.0 | 62.2 | 32.4 | 16.4 | 31.8 | 21.0 | 84.0 | 85.2 | 79.3 | 43.0 | 52.4 | 43.7 |
| B-basic_materials-ex_micro-profit | 49.2 | 73.2 | 45.0 | 17.9 | 33.6 | 23.8 | 71.0 | 81.5 | 72.4 | 19.8 | 29.9 | 21.0 |
| B-communication_services-all-none | 88.4 | 95.4 | 90.0 | 84.4 | 96.8 | 91.8 | 79.5 | 91.8 | 82.2 | 84.5 | 97.2 | 92.8 |
| B-communication_services-all-profit | 96.8 | 95.9 | 97.9 | 72.5 | 82.2 | 82.4 | 69.2 | 74.8 | 70.6 | 71.8 | 75.0 | 78.0 |
| B-communication_services-ex_micro-none | 86.2 | 96.0 | 88.4 | 68.8 | 79.4 | 67.9 | 73.2 | 84.2 | 75.7 | 61.8 | 93.6 | 76.1 |
| B-communication_services-ex_micro-profit | 93.0 | 93.5 | 93.5 | 55.0 | 51.8 | 57.2 | 78.6 | 80.4 | 82.4 | 74.1 | 70.3 | 79.2 |
| B-consumer_cyclical-all-none | 56.2 | 65.2 | 48.2 | 30.2 | 83.6 | 36.2 | 92.0 | 97.1 | 95.8 | 94.6 | 94.5 | 95.8 |
| B-consumer_cyclical-all-profit | 29.7 | 41.6 | 25.8 | 8.9 | 50.5 | 13.1 | 68.1 | 81.0 | 77.5 | 86.8 | 87.5 | 89.6 |
| B-consumer_cyclical-ex_micro-none | 45.2 | 55.8 | 38.5 | 13.6 | 63.3 | 12.9 | 79.5 | 91.3 | 89.0 | 87.4 | 85.0 | 90.2 |
| B-consumer_cyclical-ex_micro-profit | 42.5 | 54.5 | 35.6 | 5.9 | 29.4 | 9.6 | 74.0 | 78.2 | 81.2 | 86.6 | 76.4 | 87.8 |
| B-consumer_defensive-all-none | 47.8 | 68.1 | 49.8 | 46.2 | 82.6 | 36.4 | 88.8 | 89.8 | 91.4 | 95.5 | 98.6 | 97.8 |
| B-consumer_defensive-all-profit | 40.4 | 58.2 | 40.4 | 21.6 | 41.4 | 26.8 | 52.4 | 52.2 | 52.4 | 64.6 | 66.8 | 63.6 |
| B-consumer_defensive-ex_micro-none | 32.4 | 47.8 | 33.8 | 29.8 | 68.2 | 25.8 | 81.4 | 82.0 | 81.6 | 74.8 | 78.6 | 74.0 |
| B-consumer_defensive-ex_micro-profit | 19.8 | 34.8 | 19.2 | 27.2 | 48.8 | 31.2 | 59.7 | 68.0 | 58.4 | 61.1 | 65.7 | 60.9 |
| B-cyclical-all-none | 84.5 | 87.6 | 81.7 | 30.8 | 73.0 | 48.6 | 87.8 | 87.4 | 93.0 | 75.6 | 94.0 | 83.4 |
| B-cyclical-all-profit | 71.2 | 81.6 | 65.3 | 12.7 | 43.0 | 27.9 | 66.6 | 66.6 | 71.4 | 59.5 | 86.1 | 78.6 |
| B-cyclical-ex_micro-none | 80.5 | 89.0 | 74.5 | 18.0 | 49.2 | 33.4 | 72.0 | 72.4 | 80.0 | 62.6 | 89.6 | 79.0 |
| B-cyclical-ex_micro-profit | 67.5 | 82.5 | 61.5 | 13.7 | 46.8 | 32.4 | 50.6 | 68.4 | 63.2 | 64.4 | 91.2 | 80.6 |
| B-defensive-all-none | 75.8 | 95.0 | 80.4 | 98.0 | 100.0 | 99.8 | 98.0 | 100.0 | 99.8 | 89.0 | 99.4 | 95.0 |
| B-defensive-all-profit | 40.7 | 47.4 | 41.3 | 17.3 | 21.2 | 19.7 | 70.6 | 74.4 | 74.6 | 43.0 | 75.2 | 50.9 |
| B-defensive-ex_micro-none | 69.1 | 85.0 | 73.9 | 90.8 | 99.6 | 95.8 | 89.7 | 99.0 | 97.2 | 44.2 | 94.6 | 56.3 |
| B-defensive-ex_micro-profit | 28.2 | 35.8 | 28.4 | 9.8 | 10.0 | 11.0 | 72.8 | 77.8 | 74.8 | 27.2 | 62.4 | 29.0 |
| B-energy-all-none | 79.7 | 85.8 | 77.4 | 67.0 | 95.4 | 99.0 | 71.6 | 88.9 | 88.8 | 72.1 | 90.7 | 77.3 |
| B-energy-all-profit | 48.8 | 48.8 | 59.8 | 82.8 | 93.6 | 97.2 | 42.8 | 31.0 | 45.2 | 49.0 | 48.7 | 43.1 |
| B-energy-ex_micro-none | 84.8 | 89.6 | 83.0 | 38.6 | 93.6 | 91.8 | 61.4 | 90.6 | 80.0 | 69.1 | 92.8 | 77.9 |
| B-energy-ex_micro-profit | 65.4 | 64.0 | 72.8 | 66.4 | 89.8 | 92.4 | 47.2 | 55.2 | 47.4 | 41.4 | 48.4 | 41.0 |
| B-financial-all-none | 61.2 | 81.8 | 44.2 | 39.6 | 27.2 | 47.8 | 67.8 | 81.9 | 73.5 | 68.9 | 80.6 | 75.0 |
| B-financial-all-profit | 66.5 | 91.1 | 51.1 | 21.7 | 5.6 | 23.3 | 80.0 | 68.0 | 80.0 | 87.8 | 32.7 | 56.5 |
| B-financial-ex_micro-none | 87.5 | 96.5 | 82.1 | 14.2 | 8.4 | 18.2 | 74.2 | 80.6 | 81.2 | 77.1 | 52.6 | 60.2 |
| B-financial-ex_micro-profit | 84.0 | 94.0 | 78.0 | 10.8 | 2.8 | 17.2 | 66.8 | 77.4 | 76.8 | 91.2 | 40.4 | 59.1 |
| B-financial_services-all-none | 63.8 | 70.6 | 51.0 | 25.6 | 29.6 | 39.8 | 74.4 | 84.4 | 83.2 | 64.6 | 69.0 | 69.9 |
| B-financial_services-all-profit | 58.6 | 71.2 | 45.0 | 17.8 | 5.0 | 16.6 | 65.2 | 52.2 | 65.6 | 82.4 | 19.2 | 49.0 |
| B-financial_services-ex_micro-none | 83.4 | 96.2 | 67.8 | 2.6 | 8.6 | 5.3 | 73.0 | 74.1 | 80.9 | 72.0 | 33.9 | 54.9 |
| B-financial_services-ex_micro-profit | 78.8 | 89.9 | 73.5 | 3.0 | 3.0 | 3.4 | 80.4 | 80.0 | 88.2 | 89.0 | 38.2 | 59.8 |
| B-growth-all-none | 94.2 | 90.4 | 97.6 | 87.6 | 94.4 | 94.6 | 98.0 | 96.6 | 98.4 | 89.0 | 92.6 | 96.4 |
| B-growth-all-profit | 95.8 | 87.8 | 97.6 | 56.0 | 44.6 | 59.4 | 80.2 | 72.3 | 82.3 | 75.6 | 67.8 | 83.0 |
| B-growth-ex_micro-none | 91.8 | 92.7 | 96.3 | 70.3 | 70.2 | 72.6 | 92.3 | 83.6 | 92.2 | 65.0 | 82.1 | 84.0 |
| B-growth-ex_micro-profit | 97.0 | 90.8 | 97.8 | 42.4 | 26.0 | 46.4 | 77.7 | 61.4 | 76.3 | 73.0 | 62.3 | 77.1 |
| B-healthcare-all-none | 91.0 | 99.0 | 97.0 | 100.0 | 100.0 | 100.0 | 96.4 | 99.8 | 99.2 | 90.6 | 99.0 | 94.6 |
| B-healthcare-all-profit | 76.4 | 67.4 | 77.4 | 62.6 | 85.0 | 70.6 | 84.5 | 93.1 | 87.5 | 60.2 | 73.7 | 71.6 |
| B-healthcare-ex_micro-none | 89.2 | 98.6 | 95.0 | 98.6 | 100.0 | 100.0 | 86.2 | 99.8 | 96.1 | 43.8 | 88.1 | 49.9 |
| B-healthcare-ex_micro-profit | 55.4 | 49.3 | 55.1 | 42.2 | 63.1 | 43.6 | 82.0 | 93.7 | 88.3 | 59.8 | 71.0 | 76.8 |
| B-industrials-all-none | 88.0 | 88.4 | 89.2 | 48.8 | 82.6 | 73.4 | 81.8 | 82.8 | 85.8 | 79.8 | 88.0 | 86.4 |
| B-industrials-all-profit | 82.3 | 88.3 | 83.5 | 20.0 | 55.6 | 50.4 | 47.8 | 54.6 | 51.4 | 55.4 | 45.6 | 54.8 |
| B-industrials-ex_micro-none | 89.0 | 93.0 | 91.2 | 28.0 | 63.0 | 56.3 | 72.0 | 78.6 | 82.0 | 60.0 | 70.6 | 71.6 |
| B-industrials-ex_micro-profit | 88.6 | 91.8 | 92.4 | 13.6 | 48.8 | 36.8 | 42.4 | 50.0 | 49.2 | 44.8 | 50.4 | 50.3 |
| B-real_estate-all-none | 45.0 | 31.2 | 50.4 | 19.8 | 22.8 | 30.0 | 58.2 | 68.6 | 56.8 | 63.8 | 71.2 | 64.6 |
| B-real_estate-all-profit | 32.5 | 21.3 | 36.9 | 14.8 | 25.0 | 30.2 | 48.2 | 67.4 | 42.2 | 34.9 | 33.0 | 34.7 |
| B-real_estate-ex_micro-none | 44.0 | 31.2 | 50.7 | 8.8 | 15.4 | 16.8 | 56.6 | 72.6 | 55.6 | 44.0 | 36.0 | 43.4 |
| B-real_estate-ex_micro-profit | 36.0 | 29.0 | 44.0 | 24.4 | 27.4 | 44.3 | 51.6 | 64.4 | 48.4 | 26.0 | 19.8 | 26.6 |
| B-technology-all-none | 90.2 | 85.4 | 93.8 | 87.0 | 96.6 | 96.2 | 99.0 | 98.4 | 99.2 | 86.4 | 93.4 | 97.2 |
| B-technology-all-profit | 84.8 | 89.4 | 94.4 | 35.2 | 41.8 | 42.2 | 82.2 | 90.0 | 88.2 | 74.6 | 86.0 | 83.4 |
| B-technology-ex_micro-none | 87.2 | 89.8 | 94.4 | 52.2 | 63.1 | 55.1 | 89.8 | 90.4 | 92.4 | 62.6 | 83.8 | 78.9 |
| B-technology-ex_micro-profit | 89.3 | 97.2 | 97.2 | 34.0 | 35.8 | 43.6 | 76.4 | 73.5 | 80.5 | 80.0 | 87.4 | 85.8 |
| B-utilities-all-none | 58.4 | 45.5 | 56.9 | 39.2 | 33.4 | 35.9 | 64.8 | 72.6 | 65.0 | 50.7 | 72.9 | 55.2 |
| B-utilities-all-profit | 43.6 | 53.3 | 44.7 | 25.4 | 17.1 | 24.4 | 33.6 | 37.6 | 34.7 | 27.1 | 64.8 | 30.6 |
| B-utilities-ex_micro-none | 27.6 | 35.4 | 29.0 | 38.4 | 22.2 | 32.8 | 66.0 | 74.8 | 64.8 | 38.9 | 48.6 | 41.4 |
| B-utilities-ex_micro-profit | 38.0 | 38.5 | 39.8 | 19.2 | 8.2 | 15.1 | 51.6 | 61.4 | 51.6 | 30.1 | 50.7 | 28.0 |
Scoring took 2477s.