{
  "default_version": "recovery-1100",
  "versions": {
    "original-0900": {
      "summary": {
        "model": "Published HGB 09:00 hybrid benchmark",
        "policy": "original_0900_hybrid",
        "version": "original-0900",
        "nights": 911,
        "entry_start": "2023-01-03",
        "entry_end": "2026-08-20",
        "last_exit": "2026-08-21",
        "total_return_pct": 6750218.371956791,
        "max_drawdown_pct": -24.753126256025638,
        "ending_drawdown_pct": 0.0,
        "wins": 560,
        "win_rate_pct": 61.47091108671789,
        "known_0900_legs": 832,
        "exposure_fraction": 1,
        "entry_fee_bp": 2.6,
        "exit_fee_bp": 5,
        "weekly": {
          "periods": 190,
          "positive_periods": 139,
          "negative_periods": 51,
          "positive_pct": 73.15789473684211,
          "arithmetic_mean_return_pct": 6.734598193073421,
          "median_return_pct": 4.748372929861766,
          "geometric_mean_return_pct": 6.0272496852950175,
          "median_within_period_maxdd_pct": -2.3375977088104847,
          "longest_losing_streak": 3,
          "best": {
            "period": "2025-08-30/2025-09-05",
            "return_pct": 115.19814216885878,
            "within_period_maxdd_pct": -0.07598639333481483,
            "first_entry": "2025-09-02",
            "last_entry": "2025-09-05"
          },
          "worst": {
            "period": "2024-01-06/2024-01-12",
            "return_pct": -20.87899570983136,
            "within_period_maxdd_pct": -21.48002177999676,
            "first_entry": "2024-01-08",
            "last_entry": "2024-01-12"
          },
          "worst_within_period_dd": {
            "period": "2024-01-06/2024-01-12",
            "return_pct": -20.87899570983136,
            "within_period_maxdd_pct": -21.48002177999676,
            "first_entry": "2024-01-08",
            "last_entry": "2024-01-12"
          }
        },
        "monthly": {
          "periods": 44,
          "positive_periods": 39,
          "negative_periods": 5,
          "positive_pct": 88.63636363636364,
          "arithmetic_mean_return_pct": 33.03768904657198,
          "median_return_pct": 23.77059811097869,
          "geometric_mean_return_pct": 28.753003671616906,
          "median_within_period_maxdd_pct": -6.852525816469912,
          "longest_losing_streak": 1,
          "best": {
            "period": "2025-09",
            "return_pct": 199.84643116935808,
            "within_period_maxdd_pct": -0.7382970242594933,
            "first_entry": "2025-09-02",
            "last_entry": "2025-09-30"
          },
          "worst": {
            "period": "2024-06",
            "return_pct": -9.908394035052526,
            "within_period_maxdd_pct": -20.893986464713187,
            "first_entry": "2024-06-03",
            "last_entry": "2024-06-28"
          },
          "worst_within_period_dd": {
            "period": "2024-01",
            "return_pct": -9.07738353326959,
            "within_period_maxdd_pct": -24.75312625602565,
            "first_entry": "2024-01-02",
            "last_entry": "2024-01-31"
          }
        },
        "retained_published_nights": 79
      },
      "source_ledger": "analysis/model_period_returns_20260918/results/daily.parquet",
      "source_ledger_sha256": "1c6ad9a63b6523d4ec1dfc2b130f6b66d72f2a402d1d8404eb624a6d00c6702d",
      "all_911_returns_match_ledger": true,
      "total_drawdown_and_wins_reconcile": true,
      "period_compounding_reconciled": true,
      "weekly_monthly_drawdowns_independently_verified": true,
      "grouping": "Entry dates; weeks end Friday",
      "drawdown_basis": "Completed-trade equity including initial capital"
    },
    "conditional-hold": {
      "summary": {
        "model": "HGB + hold only if improving since 09:00",
        "policy": "baseline",
        "version": "conditional-hold",
        "nights": 911,
        "entry_start": "2023-01-03",
        "entry_end": "2026-08-20",
        "last_exit": "2026-08-21",
        "total_return_pct": 9545890.412188731,
        "max_drawdown_pct": -25.6744837983629,
        "ending_drawdown_pct": -0.5959229014823819,
        "wins": 654,
        "win_rate_pct": 71.78924259055982,
        "known_0900_legs": 832,
        "exposure_fraction": 1,
        "entry_fee_bp": 2.6,
        "exit_fee_bp": 5,
        "weekly": {
          "periods": 190,
          "positive_periods": 143,
          "negative_periods": 47,
          "positive_pct": 75.26315789473685,
          "arithmetic_mean_return_pct": 6.993465436791384,
          "median_return_pct": 5.143166022054979,
          "geometric_mean_return_pct": 6.220803962660529,
          "median_within_period_maxdd_pct": -3.1230308884768467,
          "longest_losing_streak": 2,
          "best": {
            "period": "2025-08-30/2025-09-05",
            "return_pct": 113.8007516352947,
            "within_period_maxdd_pct": -0.7248436245469225,
            "first_entry": "2025-09-02",
            "last_entry": "2025-09-05"
          },
          "worst": {
            "period": "2023-08-12/2023-08-18",
            "return_pct": -21.53211644698586,
            "within_period_maxdd_pct": -24.031386516699992,
            "first_entry": "2023-08-14",
            "last_entry": "2023-08-18"
          },
          "worst_within_period_dd": {
            "period": "2023-08-12/2023-08-18",
            "return_pct": -21.53211644698586,
            "within_period_maxdd_pct": -24.031386516699992,
            "first_entry": "2023-08-14",
            "last_entry": "2023-08-18"
          }
        },
        "monthly": {
          "periods": 44,
          "positive_periods": 39,
          "negative_periods": 5,
          "positive_pct": 88.63636363636364,
          "arithmetic_mean_return_pct": 34.24890869538778,
          "median_return_pct": 25.530260967069918,
          "geometric_mean_return_pct": 29.771029459740806,
          "median_within_period_maxdd_pct": -8.165484873075059,
          "longest_losing_streak": 1,
          "best": {
            "period": "2025-09",
            "return_pct": 206.3154500266527,
            "within_period_maxdd_pct": -0.7248436245469225,
            "first_entry": "2025-09-02",
            "last_entry": "2025-09-30"
          },
          "worst": {
            "period": "2024-06",
            "return_pct": -14.715410318629296,
            "within_period_maxdd_pct": -24.266490094273152,
            "first_entry": "2024-06-03",
            "last_entry": "2024-06-28"
          },
          "worst_within_period_dd": {
            "period": "2025-03",
            "return_pct": 14.207582727175305,
            "within_period_maxdd_pct": -25.674483798362914,
            "first_entry": "2025-03-03",
            "last_entry": "2025-03-31"
          }
        },
        "eligible_holds": 167
      },
      "source_ledger": "analysis/eleven_on_911_20260925/trades.parquet",
      "source_ledger_sha256": "ee0c3717a71de0de1a4ce5b840b8a598a7bfbd1bb763a85a3ac72231eab7c13e",
      "all_911_returns_match_ledger": true,
      "total_drawdown_and_wins_reconcile": true,
      "period_compounding_reconciled": true,
      "weekly_monthly_drawdowns_independently_verified": true,
      "grouping": "Entry dates; weeks end Friday",
      "drawdown_basis": "Completed-trade equity including initial capital"
    },
    "recovery-1100": {
      "summary": {
        "model": "HGB + conditional hold + repeat recovery check at 11:00",
        "policy": "repeat_recovery_1100",
        "version": "recovery-1100",
        "nights": 911,
        "entry_start": "2023-01-03",
        "entry_end": "2026-08-20",
        "last_exit": "2026-08-21",
        "total_return_pct": 14427285.652931437,
        "max_drawdown_pct": -25.19113831168982,
        "ending_drawdown_pct": -0.5071692612158563,
        "wins": 655,
        "win_rate_pct": 71.89901207464325,
        "known_0900_legs": 832,
        "exposure_fraction": 1,
        "entry_fee_bp": 2.6,
        "exit_fee_bp": 5,
        "weekly": {
          "periods": 190,
          "positive_periods": 146,
          "negative_periods": 44,
          "positive_pct": 76.84210526315789,
          "arithmetic_mean_return_pct": 7.205042989312185,
          "median_return_pct": 5.143166022054979,
          "geometric_mean_return_pct": 6.451949474321996,
          "median_within_period_maxdd_pct": -2.801668879727287,
          "longest_losing_streak": 3,
          "best": {
            "period": "2025-08-30/2025-09-05",
            "return_pct": 113.8007516352947,
            "within_period_maxdd_pct": -0.7248436245469225,
            "first_entry": "2025-09-02",
            "last_entry": "2025-09-05"
          },
          "worst": {
            "period": "2023-08-12/2023-08-18",
            "return_pct": -22.824827541008673,
            "within_period_maxdd_pct": -24.11773111138097,
            "first_entry": "2023-08-14",
            "last_entry": "2023-08-18"
          },
          "worst_within_period_dd": {
            "period": "2023-08-12/2023-08-18",
            "return_pct": -22.824827541008673,
            "within_period_maxdd_pct": -24.11773111138097,
            "first_entry": "2023-08-14",
            "last_entry": "2023-08-18"
          }
        },
        "monthly": {
          "periods": 44,
          "positive_periods": 39,
          "negative_periods": 5,
          "positive_pct": 88.63636363636364,
          "arithmetic_mean_return_pct": 35.63316969880875,
          "median_return_pct": 26.448359986500712,
          "geometric_mean_return_pct": 30.994862865882215,
          "median_within_period_maxdd_pct": -7.570163151106579,
          "longest_losing_streak": 1,
          "best": {
            "period": "2025-09",
            "return_pct": 218.19197302500538,
            "within_period_maxdd_pct": -0.7248436245469225,
            "first_entry": "2025-09-02",
            "last_entry": "2025-09-30"
          },
          "worst": {
            "period": "2024-06",
            "return_pct": -14.52883425420275,
            "within_period_maxdd_pct": -24.266490094273152,
            "first_entry": "2024-06-03",
            "last_entry": "2024-06-28"
          },
          "worst_within_period_dd": {
            "period": "2023-08",
            "return_pct": -0.21712374640600052,
            "within_period_maxdd_pct": -24.478104458991158,
            "first_entry": "2023-08-01",
            "last_entry": "2023-08-31"
          }
        },
        "eligible_holds": 167,
        "review_covered_holds": 114,
        "review_exits": 90,
        "unassessed_original_close_retained": 53
      },
      "source_ledger": "analysis/eleven_on_911_20260925/trades.parquet",
      "source_ledger_sha256": "ee0c3717a71de0de1a4ce5b840b8a598a7bfbd1bb763a85a3ac72231eab7c13e",
      "all_911_returns_match_ledger": true,
      "total_drawdown_and_wins_reconcile": true,
      "period_compounding_reconciled": true,
      "weekly_monthly_drawdowns_independently_verified": true,
      "grouping": "Entry dates; weeks end Friday",
      "drawdown_basis": "Completed-trade equity including initial capital"
    }
  },
  "original_landing_styles_preserved": true,
  "shared_911_night_calendar_verified": true,
  "source_downloads": "Static CSV URLs are recovery-1100; page downloads follow the selected version."
}