{
  "notice": "Every input return is invented. This is educational arithmetic, not market evidence, a backtest, or a forecast.",
  "input_sha256": "e97e6d9f771f623dd2b26022ad10768c0139e2a36df43bbe7ce6fa43ce302d18",
  "protocol_sha256": "73161f9151cd769a26601a988c2b7b46ec6440c1d7d0ff8c49246a5bc4e57079",
  "observations": 24,
  "start": "2026-09-01",
  "end": "2026-09-24",
  "sample_means": [
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  "sample_covariance": [
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      4.978260869565218e-05
    ],
    [
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    ],
    [
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  "sample_pearson_correlation": [
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  "equal_volatility_examples": [
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      "portfolio_daily_volatility": 0.005773502691896258,
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  "assumed_joint_stress": {
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      "capital": 100000,
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      "cash_weight": 0.0,
      "assumed_sleeve_returns": [
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      "portfolio_return": -0.078,
      "portfolio_pnl": -7800.0,
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      "sleeve_pnl": [
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      "portfolio_pnl": -7999.999999999999,
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      "sleeve_pnl": [
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      "sleeve_pnl": [
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  "constructed_fixture_equity": {
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    "initial_weights": [
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    "accounting": "initial allocation; no transfers or rebalancing; weights drift",
    "final_equity": 100532.90756952483,
    "net_pnl": 532.9075695248321,
    "net_return": 0.005329075695248431,
    "daily_close_max_drawdown": 0.02753000370765646,
    "sleeve_final_equity": [
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    "sleeve_net_returns": [
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  "constructed_fixture_all_negative_days": [
    {
      "date": "2026-09-09",
      "sleeve_returns": [
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    },
    {
      "date": "2026-09-18",
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  "sample_covariance_risk_at_initial_weights": {
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  "limitations": [
    "live trading",
    "market-data fetching",
    "strategy signals",
    "execution and rebalance costs",
    "liquidity and slippage estimation",
    "leverage and derivatives",
    "counterparty or stablecoin default",
    "taxes",
    "interest",
    "future probability estimates",
    "annualized Sharpe ratios",
    "portfolio optimization"
  ]
}