Metrics

Excess return above what the benchmark explains -- Jensen's alpha formula, interpretation, and intermittent-exposure caveats.

Mean trade duration from entry to exit -- what it reveals about strategy tempo and turnover.

Sensitivity to benchmark moves -- how beta is calculated, what values mean, and why it matters for leveraged strategies.

Annualized return divided by max drawdown -- a simple measure of return per unit of drawdown risk.

Expected loss beyond the VaR threshold -- a tail-risk metric that answers "how bad can it get?"

Percentage of candles with an open position -- what it tells you about capital utilization and idle time.

The largest peak-to-trough decline -- how to measure it and what it tells you about strategy risk.

Gross profits divided by gross losses -- a quick gauge of whether winners outweigh losers in absolute terms.

Average loss divided by average gain -- how much you risk per unit of expected reward on each trade.

The industry-standard risk-adjusted return metric -- formula, assumptions, and common pitfalls.

Like Sharpe but penalizes only downside volatility -- when and why to prefer it.

Cumulative and annualized return calculations -- how compounding works and why annualizing matters for comparison.

Estimate the worst-case loss over a given period at a given confidence level.

Annualized standard deviation of returns -- calculation, interpretation, and comparison across assets.

Win rate alone is misleading -- combine it with average win/loss to get expected value per trade.