本页只看 monthly volume rebuild 口径：每月用上一完整自然月 Binance UM perpetual 1d quote_volume 选 top30，再跑 Rank213。目标是把 plain / veto / fixed gate / percentile gate 四条证据链并排，检查年度、regime、3y/5y 窗口稳定性。
sample 2020-02-01T00:00:00Z → 2026-04-10T18:00:00Z 18087 rebalances 75 months percentile gate q=60
直接结论：monthly-volume 下 baseline 本身并不稳；veto 不是修复器，反而在全样本更差。固定阈值 gate 太稀疏，只把亏损缩小但没转正；percentile q60 能把全样本拉到轻微正值，但 DD 仍很深，不能当“已过关”。
| label | months | rebalances | net_mean_bps | net_cum_pct | max_drawdown_pct | open_rate_pct | win_rate_pct | avg_turnover_x | avg_eligible_universe_size |
|---|---|---|---|---|---|---|---|---|---|
| 1) plain baseline | 75 | 18087 | -1.58 bps | -98.09% | -99.62% | 100.00% | 46.66% | 1.000x | 29.3277 |
| 2) baseline + veto | 75 | 18087 | -2.53 bps | -99.60% | -99.79% | 100.00% | 46.01% | 1.074x | 29.3277 |
| 3a) veto + fixed gate | 75 | 18087 | -0.23 bps | -37.13% | -48.63% | 3.54% | 1.61% | 0.042x | 29.3277 |
| 3b) veto + percentile gate q60 | 75 | 18087 | 0.18 bps | 6.47% | -71.22% | 16.44% | 7.97% | 0.180x | 29.3277 |
指标后缀含义：net_mean_bps / net_cum_pct / max_drawdown_pct / open_rate_pct。
| segment | baseline_plus_veto.max_drawdown_pct | baseline_plus_veto_plus_fixed_gate.max_drawdown_pct | baseline_plus_veto_plus_percentile_gate_q60.max_drawdown_pct | plain_baseline.max_drawdown_pct | baseline_plus_veto.net_cum_pct | baseline_plus_veto_plus_fixed_gate.net_cum_pct | baseline_plus_veto_plus_percentile_gate_q60.net_cum_pct | plain_baseline.net_cum_pct | baseline_plus_veto.net_mean_bps | baseline_plus_veto_plus_fixed_gate.net_mean_bps | baseline_plus_veto_plus_percentile_gate_q60.net_mean_bps | plain_baseline.net_mean_bps | baseline_plus_veto.open_rate_pct | baseline_plus_veto_plus_fixed_gate.open_rate_pct | baseline_plus_veto_plus_percentile_gate_q60.open_rate_pct | plain_baseline.open_rate_pct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | -60.25% | 0.00% | -12.60% | -51.20% | -54.71% | 0.00% | 27.00% | -43.06% | -2.61 bps | 0.00 bps | 1.02 bps | -1.74 bps | 100.00% | 0.00% | 18.13% | 100.00% |
| 2021 | -64.02% | 0.00% | -24.31% | -59.38% | -17.95% | 0.00% | 75.14% | 7.13% | 0.00 bps | 0.00 bps | 2.23 bps | 0.94 bps | 100.00% | 0.00% | 33.42% | 100.00% |
| 2022 | -81.37% | 0.00% | 0.00% | -82.36% | -80.24% | 0.00% | 0.00% | -81.04% | -5.13 bps | 0.00 bps | 0.00 bps | -5.25 bps | 100.00% | 0.00% | 0.00% | 100.00% |
| 2023 | -62.90% | -3.53% | -14.21% | -58.38% | -30.83% | 8.58% | 36.34% | -25.01% | -0.93 bps | 0.29 bps | 1.15 bps | -0.63 bps | 100.00% | 2.29% | 8.56% | 100.00% |
| 2024 | -78.92% | -1.37% | -46.13% | -82.24% | -76.72% | 0.27% | -36.14% | -81.52% | -4.55 bps | 0.01 bps | -1.35 bps | -5.30 bps | 100.00% | 0.24% | 24.08% | 100.00% |
| 2025 | -76.90% | -41.12% | -36.60% | -68.98% | -73.32% | -37.38% | -36.22% | -53.00% | -3.76 bps | -1.49 bps | -1.42 bps | -1.70 bps | 100.00% | 16.06% | 16.03% | 100.00% |
| 2026 | -37.82% | -16.14% | -21.62% | -44.12% | 25.27% | -7.77% | -13.79% | 153.60% | 4.02 bps | -0.78 bps | -1.64 bps | 13.69 bps | 100.00% | 12.27% | 11.14% | 100.00% |
| segment | label | months | rebalances | net_mean_bps | net_cum_pct | max_drawdown_pct | open_rate_pct | win_rate_pct | avg_turnover_x | avg_eligible_universe_size |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 1) plain baseline | 11 | 2680 | -1.74 bps | -43.06% | -51.20% | 100.00% | 46.75% | 1.000x | 25.7160 |
| 2020 | 2) baseline + veto | 11 | 2680 | -2.61 bps | -54.71% | -60.25% | 100.00% | 46.04% | 1.031x | 25.7160 |
| 2020 | 3a) veto + fixed gate | 11 | 2680 | 0.00 bps | 0.00% | 0.00% | 0.00% | 0.00% | 0.000x | 25.7160 |
| 2020 | 3b) veto + percentile gate q60 | 11 | 2680 | 1.02 bps | 27.00% | -12.60% | 18.13% | 9.22% | 0.190x | 25.7160 |
| 2021 | 1) plain baseline | 12 | 2920 | 0.94 bps | 7.13% | -59.38% | 100.00% | 47.23% | 1.000x | 30.0000 |
| 2021 | 2) baseline + veto | 12 | 2920 | 0.00 bps | -17.95% | -64.02% | 100.00% | 46.64% | 1.051x | 30.0000 |
| 2021 | 3a) veto + fixed gate | 12 | 2920 | 0.00 bps | 0.00% | 0.00% | 0.00% | 0.00% | 0.000x | 30.0000 |
| 2021 | 3b) veto + percentile gate q60 | 12 | 2920 | 2.23 bps | 75.14% | -24.31% | 33.42% | 16.20% | 0.351x | 30.0000 |
| 2022 | 1) plain baseline | 12 | 2920 | -5.25 bps | -81.04% | -82.36% | 100.00% | 44.62% | 1.000x | 29.7678 |
| 2022 | 2) baseline + veto | 12 | 2920 | -5.13 bps | -80.24% | -81.37% | 100.00% | 44.08% | 1.034x | 29.7678 |
| 2022 | 3a) veto + fixed gate | 12 | 2920 | 0.00 bps | 0.00% | 0.00% | 0.00% | 0.00% | 0.000x | 29.7678 |
| 2022 | 3b) veto + percentile gate q60 | 12 | 2920 | 0.00 bps | 0.00% | 0.00% | 0.00% | 0.00% | 0.000x | 29.7678 |
| 2023 | 1) plain baseline | 12 | 2920 | -0.63 bps | -25.01% | -58.38% | 100.00% | 47.29% | 1.000x | 30.0000 |
| 2023 | 2) baseline + veto | 12 | 2920 | -0.93 bps | -30.83% | -62.90% | 100.00% | 46.99% | 1.063x | 30.0000 |
| 2023 | 3a) veto + fixed gate | 12 | 2920 | 0.29 bps | 8.58% | -3.53% | 2.29% | 1.16% | 0.025x | 30.0000 |
| 2023 | 3b) veto + percentile gate q60 | 12 | 2920 | 1.15 bps | 36.34% | -14.21% | 8.56% | 4.62% | 0.096x | 30.0000 |
| 2024 | 1) plain baseline | 12 | 2928 | -5.30 bps | -81.52% | -82.24% | 100.00% | 45.63% | 1.000x | 30.0000 |
| 2024 | 2) baseline + veto | 12 | 2928 | -4.55 bps | -76.72% | -78.92% | 100.00% | 46.04% | 1.056x | 30.0000 |
| 2024 | 3a) veto + fixed gate | 12 | 2928 | 0.01 bps | 0.27% | -1.37% | 0.24% | 0.14% | 0.003x | 30.0000 |
| 2024 | 3b) veto + percentile gate q60 | 12 | 2928 | -1.35 bps | -36.14% | -46.13% | 24.08% | 11.44% | 0.260x | 30.0000 |
| 2025 | 1) plain baseline | 12 | 2920 | -1.70 bps | -53.00% | -68.98% | 100.00% | 47.40% | 1.000x | 30.0000 |
| 2025 | 2) baseline + veto | 12 | 2920 | -3.76 bps | -73.32% | -76.90% | 100.00% | 45.99% | 1.148x | 30.0000 |
| 2025 | 3a) veto + fixed gate | 12 | 2920 | -1.49 bps | -37.38% | -41.12% | 16.06% | 7.09% | 0.188x | 30.0000 |
| 2025 | 3b) veto + percentile gate q60 | 12 | 2920 | -1.42 bps | -36.22% | -36.60% | 16.03% | 7.19% | 0.190x | 30.0000 |
| 2026 | 1) plain baseline | 4 | 799 | 13.69 bps | 153.60% | -44.12% | 100.00% | 50.56% | 1.000x | 30.0000 |
| 2026 | 2) baseline + veto | 4 | 799 | 4.02 bps | 25.27% | -37.82% | 100.00% | 47.06% | 1.292x | 30.0000 |
| 2026 | 3a) veto + fixed gate | 4 | 799 | -0.78 bps | -7.77% | -16.14% | 12.27% | 5.88% | 0.168x | 30.0000 |
| 2026 | 3b) veto + percentile gate q60 | 4 | 799 | -1.64 bps | -13.79% | -21.62% | 11.14% | 5.26% | 0.154x | 30.0000 |
先给最直观的研究阶段切分：2020-2021 / 2022-2023 / 2024-2026。后面再给 BTC 64-bar trend 与横截面离散度 tercile 的环境切分。
| segment | baseline_plus_veto.max_drawdown_pct | baseline_plus_veto_plus_fixed_gate.max_drawdown_pct | baseline_plus_veto_plus_percentile_gate_q60.max_drawdown_pct | plain_baseline.max_drawdown_pct | baseline_plus_veto.net_cum_pct | baseline_plus_veto_plus_fixed_gate.net_cum_pct | baseline_plus_veto_plus_percentile_gate_q60.net_cum_pct | plain_baseline.net_cum_pct | baseline_plus_veto.net_mean_bps | baseline_plus_veto_plus_fixed_gate.net_mean_bps | baseline_plus_veto_plus_percentile_gate_q60.net_mean_bps | plain_baseline.net_mean_bps | baseline_plus_veto.open_rate_pct | baseline_plus_veto_plus_fixed_gate.open_rate_pct | baseline_plus_veto_plus_percentile_gate_q60.open_rate_pct | plain_baseline.open_rate_pct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020-2021 early/liquidity expansion | -64.02% | 0.00% | -24.31% | -59.38% | -62.84% | 0.00% | 122.42% | -39.00% | -1.25 bps | 0.00 bps | 1.65 bps | -0.34 bps | 100.00% | 0.00% | 26.11% | 100.00% |
| 2022-2023 bear-to-chop | -92.82% | -3.53% | -14.21% | -92.21% | -86.33% | 8.58% | 36.34% | -85.78% | -3.03 bps | 0.15 bps | 0.58 bps | -2.94 bps | 100.00% | 1.15% | 4.28% | 100.00% |
| 2024-2026 recent/high-beta | -96.14% | -48.63% | -71.22% | -93.77% | -92.22% | -42.09% | -64.89% | -77.98% | -3.17 bps | -0.74 bps | -1.41 bps | -1.44 bps | 100.00% | 8.64% | 18.99% | 100.00% |
| segment_type | segment | label | months | rebalances | net_mean_bps | net_cum_pct | max_drawdown_pct | open_rate_pct | win_rate_pct | avg_turnover_x | avg_eligible_universe_size |
|---|---|---|---|---|---|---|---|---|---|---|---|
| regime_calendar_phase | 2020-2021 early/liquidity expansion | 1) plain baseline | 23 | 5600 | -0.34 bps | -39.00% | -59.38% | 100.00% | 47.00% | 1.000x | 27.9498 |
| regime_calendar_phase | 2020-2021 early/liquidity expansion | 2) baseline + veto | 23 | 5600 | -1.25 bps | -62.84% | -64.02% | 100.00% | 46.36% | 1.042x | 27.9498 |
| regime_calendar_phase | 2020-2021 early/liquidity expansion | 3a) veto + fixed gate | 23 | 5600 | 0.00 bps | 0.00% | 0.00% | 0.00% | 0.00% | 0.000x | 27.9498 |
| regime_calendar_phase | 2020-2021 early/liquidity expansion | 3b) veto + percentile gate q60 | 23 | 5600 | 1.65 bps | 122.42% | -24.31% | 26.11% | 12.86% | 0.274x | 27.9498 |
| regime_calendar_phase | 2022-2023 bear-to-chop | 1) plain baseline | 24 | 5840 | -2.94 bps | -85.78% | -92.21% | 100.00% | 45.96% | 1.000x | 29.8839 |
| regime_calendar_phase | 2022-2023 bear-to-chop | 2) baseline + veto | 24 | 5840 | -3.03 bps | -86.33% | -92.82% | 100.00% | 45.53% | 1.048x | 29.8839 |
| regime_calendar_phase | 2022-2023 bear-to-chop | 3a) veto + fixed gate | 24 | 5840 | 0.15 bps | 8.58% | -3.53% | 1.15% | 0.58% | 0.012x | 29.8839 |
| regime_calendar_phase | 2022-2023 bear-to-chop | 3b) veto + percentile gate q60 | 24 | 5840 | 0.58 bps | 36.34% | -14.21% | 4.28% | 2.31% | 0.048x | 29.8839 |
| regime_calendar_phase | 2024-2026 recent/high-beta | 1) plain baseline | 28 | 6647 | -1.44 bps | -77.98% | -93.77% | 100.00% | 47.00% | 1.000x | 30.0000 |
| regime_calendar_phase | 2024-2026 recent/high-beta | 2) baseline + veto | 28 | 6647 | -3.17 bps | -92.22% | -96.14% | 100.00% | 46.14% | 1.125x | 30.0000 |
| regime_calendar_phase | 2024-2026 recent/high-beta | 3a) veto + fixed gate | 28 | 6647 | -0.74 bps | -42.09% | -48.63% | 8.64% | 3.88% | 0.104x | 30.0000 |
| regime_calendar_phase | 2024-2026 recent/high-beta | 3b) veto + percentile gate q60 | 28 | 6647 | -1.41 bps | -64.89% | -71.22% | 18.99% | 8.83% | 0.216x | 30.0000 |
| regime_btc_64bar_trend | btc_down_64bar<=-1.5% | 1) plain baseline | 75 | 3348 | -4.97 bps | -85.14% | -91.86% | 100.00% | 45.43% | 1.000x | 29.2503 |
| regime_btc_64bar_trend | btc_down_64bar<=-1.5% | 2) baseline + veto | 75 | 3348 | -4.49 bps | -82.01% | -88.73% | 100.00% | 45.13% | 1.045x | 29.2503 |
| regime_btc_64bar_trend | btc_down_64bar<=-1.5% | 3a) veto + fixed gate | 75 | 3348 | 0.16 bps | 5.19% | -5.96% | 1.34% | 0.66% | 0.014x | 29.2503 |
| regime_btc_64bar_trend | btc_down_64bar<=-1.5% | 3b) veto + percentile gate q60 | 75 | 3348 | -0.85 bps | -28.19% | -32.40% | 15.92% | 7.08% | 0.165x | 29.2503 |
| regime_btc_64bar_trend | btc_flat_64bar[-1.5%,+1.5%] | 1) plain baseline | 75 | 11005 | -0.97 bps | -81.20% | -97.13% | 100.00% | 46.72% | 1.000x | 29.3620 |
| regime_btc_64bar_trend | btc_flat_64bar[-1.5%,+1.5%] | 2) baseline + veto | 75 | 11005 | -2.30 bps | -95.20% | -98.52% | 100.00% | 45.91% | 1.087x | 29.3620 |
| regime_btc_64bar_trend | btc_flat_64bar[-1.5%,+1.5%] | 3a) veto + fixed gate | 75 | 11005 | -0.54 bps | -47.03% | -57.53% | 4.35% | 1.94% | 0.053x | 29.3620 |
| regime_btc_64bar_trend | btc_flat_64bar[-1.5%,+1.5%] | 3b) veto + percentile gate q60 | 75 | 11005 | -0.04 bps | -17.10% | -61.53% | 15.37% | 7.51% | 0.171x | 29.3620 |
| regime_btc_64bar_trend | btc_up_64bar>=+1.5% | 1) plain baseline | 75 | 3734 | -0.35 bps | -31.66% | -52.96% | 100.00% | 47.59% | 1.000x | 29.2962 |
| regime_btc_64bar_trend | btc_up_64bar>=+1.5% | 2) baseline + veto | 75 | 3734 | -1.45 bps | -54.24% | -60.12% | 100.00% | 47.11% | 1.064x | 29.2962 |
| regime_btc_64bar_trend | btc_up_64bar>=+1.5% | 3a) veto + fixed gate | 75 | 3734 | 0.36 bps | 12.84% | -11.45% | 3.13% | 1.50% | 0.037x | 29.2962 |
| regime_btc_64bar_trend | btc_up_64bar>=+1.5% | 3b) veto + percentile gate q60 | 75 | 3734 | 1.74 bps | 78.83% | -24.14% | 20.06% | 10.15% | 0.218x | 29.2962 |
| regime_xs_dispersion_tercile | low_xs_dispersion_p0_p30 | 1) plain baseline | 74 | 5426 | -4.17 bps | -90.74% | -91.15% | 100.00% | 45.25% | 1.000x | 28.4620 |
| regime_xs_dispersion_tercile | low_xs_dispersion_p0_p30 | 2) baseline + veto | 74 | 5426 | -4.83 bps | -93.49% | -93.74% | 100.00% | 44.49% | 1.044x | 28.4620 |
| regime_xs_dispersion_tercile | low_xs_dispersion_p0_p30 | 3a) veto + fixed gate | 74 | 5426 | -0.08 bps | -4.61% | -9.98% | 1.44% | 0.65% | 0.016x | 28.4620 |
| regime_xs_dispersion_tercile | low_xs_dispersion_p0_p30 | 3b) veto + percentile gate q60 | 74 | 5426 | -0.12 bps | -7.03% | -17.52% | 3.26% | 1.49% | 0.036x | 28.4620 |
| regime_xs_dispersion_tercile | mid_xs_dispersion_p30_p70 | 1) plain baseline | 75 | 7235 | -1.92 bps | -81.48% | -90.12% | 100.00% | 47.21% | 1.000x | 29.5599 |
| regime_xs_dispersion_tercile | mid_xs_dispersion_p30_p70 | 2) baseline + veto | 75 | 7235 | -2.21 bps | -84.69% | -89.60% | 100.00% | 46.69% | 1.066x | 29.5599 |
| regime_xs_dispersion_tercile | mid_xs_dispersion_p30_p70 | 3a) veto + fixed gate | 75 | 7235 | -0.08 bps | -6.61% | -21.56% | 3.84% | 1.77% | 0.045x | 29.5599 |
| regime_xs_dispersion_tercile | mid_xs_dispersion_p30_p70 | 3b) veto + percentile gate q60 | 75 | 7235 | 0.62 bps | 48.30% | -20.15% | 14.18% | 7.12% | 0.154x | 29.5599 |
| regime_xs_dispersion_tercile | high_xs_dispersion_p70_p100 | 1) plain baseline | 75 | 5426 | 1.46 bps | 11.39% | -80.60% | 100.00% | 47.35% | 1.000x | 29.8839 |
| regime_xs_dispersion_tercile | high_xs_dispersion_p70_p100 | 2) baseline + veto | 75 | 5426 | -0.65 bps | -60.35% | -84.32% | 100.00% | 46.63% | 1.116x | 29.8839 |
| regime_xs_dispersion_tercile | high_xs_dispersion_p70_p100 | 3a) veto + fixed gate | 75 | 5426 | -0.57 bps | -29.42% | -34.67% | 5.25% | 2.38% | 0.066x | 29.8839 |
| regime_xs_dispersion_tercile | high_xs_dispersion_p70_p100 | 3b) veto + percentile gate q60 | 75 | 5426 | -0.10 bps | -22.78% | -62.22% | 32.64% | 15.59% | 0.358x | 29.8839 |
只保留至少 24 个月的 3y 窗口、至少 36 个月的 5y 窗口；2026 是 YTD，因此尾部窗口会标注 YTD。
| segment_type | segment | label | months | rebalances | net_mean_bps | net_cum_pct | max_drawdown_pct | open_rate_pct | win_rate_pct | avg_turnover_x | avg_eligible_universe_size |
|---|---|---|---|---|---|---|---|---|---|---|---|
| rolling_3y | 2020-2022 (3y) | 1) plain baseline | 35 | 8520 | -2.03 bps | -88.44% | -92.45% | 100.00% | 46.19% | 1.000x | 28.5729 |
| rolling_3y | 2020-2022 (3y) | 2) baseline + veto | 35 | 8520 | -2.58 bps | -92.66% | -92.88% | 100.00% | 45.58% | 1.039x | 28.5729 |
| rolling_3y | 2020-2022 (3y) | 3a) veto + fixed gate | 35 | 8520 | 0.00 bps | 0.00% | 0.00% | 0.00% | 0.00% | 0.000x | 28.5729 |
| rolling_3y | 2020-2022 (3y) | 3b) veto + percentile gate q60 | 35 | 8520 | 1.09 bps | 122.42% | -24.31% | 17.16% | 8.45% | 0.180x | 28.5729 |
| rolling_3y | 2021-2023 (3y) | 1) plain baseline | 36 | 8760 | -1.65 bps | -84.77% | -96.67% | 100.00% | 46.38% | 1.000x | 29.9226 |
| rolling_3y | 2021-2023 (3y) | 2) baseline + veto | 36 | 8760 | -2.02 bps | -88.79% | -97.26% | 100.00% | 45.90% | 1.049x | 29.9226 |
| rolling_3y | 2021-2023 (3y) | 3a) veto + fixed gate | 36 | 8760 | 0.10 bps | 8.58% | -3.53% | 0.76% | 0.39% | 0.008x | 29.9226 |
| rolling_3y | 2021-2023 (3y) | 3b) veto + percentile gate q60 | 36 | 8760 | 1.13 bps | 138.78% | -24.31% | 14.00% | 6.94% | 0.149x | 29.9226 |
| rolling_3y | 2022-2024 (3y) | 1) plain baseline | 36 | 8768 | -3.73 bps | -97.37% | -97.47% | 100.00% | 45.85% | 1.000x | 29.9227 |
| rolling_3y | 2022-2024 (3y) | 2) baseline + veto | 36 | 8768 | -3.54 bps | -96.82% | -96.96% | 100.00% | 45.70% | 1.051x | 29.9227 |
| rolling_3y | 2022-2024 (3y) | 3a) veto + fixed gate | 36 | 8768 | 0.10 bps | 8.87% | -4.41% | 0.84% | 0.43% | 0.009x | 29.9227 |
| rolling_3y | 2022-2024 (3y) | 3b) veto + percentile gate q60 | 36 | 8768 | -0.07 bps | -12.94% | -46.13% | 10.89% | 5.36% | 0.119x | 29.9227 |
| rolling_3y | 2023-2025 (3y) | 1) plain baseline | 36 | 8768 | -2.54 bps | -93.49% | -94.89% | 100.00% | 46.77% | 1.000x | 30.0000 |
| rolling_3y | 2023-2025 (3y) | 2) baseline + veto | 36 | 8768 | -3.08 bps | -95.70% | -96.11% | 100.00% | 46.34% | 1.089x | 30.0000 |
| rolling_3y | 2023-2025 (3y) | 3a) veto + fixed gate | 36 | 8768 | -0.40 bps | -31.83% | -41.12% | 6.19% | 2.79% | 0.072x | 30.0000 |
| rolling_3y | 2023-2025 (3y) | 3b) veto + percentile gate q60 | 36 | 8768 | -0.54 bps | -44.47% | -64.87% | 16.23% | 7.76% | 0.182x | 30.0000 |
| rolling_3y | 2024-2026 (3y) | 1) plain baseline | 28 | 6647 | -1.44 bps | -77.98% | -93.77% | 100.00% | 47.00% | 1.000x | 30.0000 |
| rolling_3y | 2024-2026 (3y) | 2) baseline + veto | 28 | 6647 | -3.17 bps | -92.22% | -96.14% | 100.00% | 46.14% | 1.125x | 30.0000 |
| rolling_3y | 2024-2026 (3y) | 3a) veto + fixed gate | 28 | 6647 | -0.74 bps | -42.09% | -48.63% | 8.64% | 3.88% | 0.104x | 30.0000 |
| rolling_3y | 2024-2026 (3y) | 3b) veto + percentile gate q60 | 28 | 6647 | -1.41 bps | -64.89% | -71.22% | 18.99% | 8.83% | 0.216x | 30.0000 |
| rolling_5y | 2020-2024 (5y) | 1) plain baseline | 59 | 14368 | -2.41 bps | -98.40% | -98.92% | 100.00% | 46.30% | 1.000x | 29.1537 |
| rolling_5y | 2020-2024 (5y) | 2) baseline + veto | 59 | 14368 | -2.64 bps | -98.82% | -98.84% | 100.00% | 45.96% | 1.047x | 29.1537 |
| rolling_5y | 2020-2024 (5y) | 3a) veto + fixed gate | 59 | 14368 | 0.06 bps | 8.87% | -4.41% | 0.52% | 0.26% | 0.006x | 29.1537 |
| rolling_5y | 2020-2024 (5y) | 3b) veto + percentile gate q60 | 59 | 14368 | 0.60 bps | 93.65% | -46.13% | 16.82% | 8.28% | 0.179x | 29.1537 |
| rolling_5y | 2021-2025 (5y) | 1) plain baseline | 60 | 14608 | -2.39 bps | -98.68% | -99.59% | 100.00% | 46.43% | 1.000x | 29.9536 |
| rolling_5y | 2021-2025 (5y) | 2) baseline + veto | 60 | 14608 | -2.87 bps | -99.30% | -99.71% | 100.00% | 45.95% | 1.070x | 29.9536 |
| rolling_5y | 2021-2025 (5y) | 3a) veto + fixed gate | 60 | 14608 | -0.24 bps | -31.83% | -41.12% | 3.72% | 1.68% | 0.043x | 29.9536 |
| rolling_5y | 2021-2025 (5y) | 3b) veto + percentile gate q60 | 60 | 14608 | 0.12 bps | -2.75% | -64.87% | 16.42% | 7.89% | 0.179x | 29.9536 |
| rolling_5y | 2022-2026 (5y) | 1) plain baseline | 52 | 12487 | -2.14 bps | -96.87% | -99.11% | 100.00% | 46.51% | 1.000x | 29.9457 |
| rolling_5y | 2022-2026 (5y) | 2) baseline + veto | 52 | 12487 | -3.10 bps | -98.94% | -99.44% | 100.00% | 45.86% | 1.089x | 29.9457 |
| rolling_5y | 2022-2026 (5y) | 3a) veto + fixed gate | 52 | 12487 | -0.33 bps | -37.13% | -48.63% | 5.13% | 2.34% | 0.061x | 29.9457 |
| rolling_5y | 2022-2026 (5y) | 3b) veto + percentile gate q60 | 52 | 12487 | -0.48 bps | -52.13% | -71.22% | 12.11% | 5.78% | 0.138x | 29.9457 |
| rolling_5y | 2023-2026 (5y YTD) | 1) plain baseline | 40 | 9567 | -1.19 bps | -83.48% | -95.25% | 100.00% | 47.09% | 1.000x | 30.0000 |
| rolling_5y | 2023-2026 (5y YTD) | 2) baseline + veto | 40 | 9567 | -2.49 bps | -94.62% | -97.13% | 100.00% | 46.40% | 1.106x | 30.0000 |
| rolling_5y | 2023-2026 (5y YTD) | 3a) veto + fixed gate | 40 | 9567 | -0.43 bps | -37.13% | -48.63% | 6.70% | 3.05% | 0.080x | 30.0000 |
| rolling_5y | 2023-2026 (5y YTD) | 3b) veto + percentile gate q60 | 40 | 9567 | -0.63 bps | -52.13% | -71.22% | 15.80% | 7.55% | 0.179x | 30.0000 |
reports/artifacts/paper_rank213_largecap_xs_jump_veto/rank213_monthly_volume_segment_stability_summary.jsonreports/artifacts/paper_rank213_largecap_xs_jump_veto/rank213_monthly_volume_segment_stability_annual.csvreports/artifacts/paper_rank213_largecap_xs_jump_veto/rank213_monthly_volume_segment_stability_regime.csvreports/artifacts/paper_rank213_largecap_xs_jump_veto/rank213_monthly_volume_segment_stability_rolling_3y_5y.csvreports/artifacts/paper_rank213_largecap_xs_jump_veto/rank213_monthly_volume_segment_stability_monthly.csv