feat: ticker search, watchlist momentum column, alpha vs S&P 500

Three usability fixes:

1. Global ticker search in the sidebar (TickerSearch) — typeahead over the
   tracked universe that opens a ticker's detail page without adding it to the
   watchlist. Also wired into the mobile nav.

2. Watchlist table shows the ticker's 12-1 momentum percentile (the top-pick
   selector) instead of the noisy full S/R-level list. Enriched from the setup
   already loaded in watchlist_service._enrich_entry — no extra query.

3. Alpha vs the S&P 500 on paper trades (open + closed). New benchmark_prices
   table + benchmark_service store SPY daily closes (a standalone series, not a
   Ticker, so it never enters the scanner / momentum ranking / rankings) via a
   new daily-pipeline step. paper_trade_service computes per-trade
   benchmark_return / alpha_pct / alpha_usd over each holding period; the open-
   trades table, dashboard, and closed-trades panel surface per-trade and total
   alpha. The list read path never makes a provider call.

Deploy: alembic upgrade head, then run the benchmark/daily job once to populate
SPY closes (alpha shows "—" until then).

Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>

alembic/versions/011_add_benchmark_prices.py

@@ -0,0 +1,41 @@
+"""add benchmark_prices
+
+Stores daily closes for a benchmark index (SPY) so paper-trade alpha — trade
+return minus the benchmark's return over the same holding period — can be
+computed. Kept separate from the tradeable universe: the benchmark is not a
+Ticker, so it never enters the scanner, momentum ranking, or rankings.
+
+Revision ID: 011
+Revises: 010
+Create Date: 2026-06-28 00:00:00.000000
+
+"""
+from typing import Sequence, Union
+
+from alembic import op
+import sqlalchemy as sa
+
+
+# revision identifiers, used by Alembic.
+revision: str = "011"
+down_revision: Union[str, None] = "010"
+branch_labels: Union[str, Sequence[str], None] = None
+depends_on: Union[str, Sequence[str], None] = None
+
+
+def upgrade() -> None:
+    op.create_table(
+        "benchmark_prices",
+        sa.Column("id", sa.Integer(), nullable=False),
+        sa.Column("symbol", sa.String(length=20), nullable=False),
+        sa.Column("date", sa.Date(), nullable=False),
+        sa.Column("close", sa.Float(), nullable=False),
+        sa.PrimaryKeyConstraint("id"),
+        sa.UniqueConstraint("symbol", "date", name="uq_benchmark_symbol_date"),
+    )
+    op.create_index("ix_benchmark_prices_symbol", "benchmark_prices", ["symbol"])
+
+
+def downgrade() -> None:
+    op.drop_index("ix_benchmark_prices_symbol", table_name="benchmark_prices")
+    op.drop_table("benchmark_prices")

app/models/__init__.py

@@ -11,6 +11,7 @@ from app.models.settings import SystemSetting, IngestionProgress
 from app.models.alert import AlertLog
 from app.models.paper_trade import PaperTrade
 from app.models.regime_snapshot import RegimeSnapshot
+from app.models.benchmark_price import BenchmarkPrice
 
 __all__ = [
     "Ticker",
@@ -28,4 +29,5 @@ __all__ = [
     "AlertLog",
     "PaperTrade",
     "RegimeSnapshot",
+    "BenchmarkPrice",
 ]

app/models/benchmark_price.py

@@ -0,0 +1,25 @@
+from datetime import date as date_type
+
+from sqlalchemy import Date, Float, String, UniqueConstraint
+from sqlalchemy.orm import Mapped, mapped_column
+
+from app.database import Base
+
+
+class BenchmarkPrice(Base):
+    """Daily close for a benchmark index (e.g. SPY), used to compute trade alpha.
+
+    A standalone price series, deliberately NOT a tracked ``Ticker`` — so the
+    benchmark never enters the scanner, the momentum-percentile ranking, or the
+    rankings table. One row per (symbol, date).
+    """
+
+    __tablename__ = "benchmark_prices"
+    __table_args__ = (
+        UniqueConstraint("symbol", "date", name="uq_benchmark_symbol_date"),
+    )
+
+    id: Mapped[int] = mapped_column(primary_key=True)
+    symbol: Mapped[str] = mapped_column(String(20), nullable=False, index=True)
+    date: Mapped[date_type] = mapped_column(Date, nullable=False)
+    close: Mapped[float] = mapped_column(Float, nullable=False)

app/scheduler.py

@@ -36,6 +36,7 @@ from app.providers.protocol import SentimentData
 from app.services import fundamental_service, ingestion_service, sentiment_service, settings_store
 from app.services.alert_service import dispatch_alerts
 from app.services.backtest_service import run_and_store as run_backtest_and_store
+from app.services.benchmark_service import refresh_benchmark_prices
 from app.services.market_regime_service import update_market_regime
 from app.services.regime_monitor_service import update_regime_monitor
 from app.services.event_study_service import run_and_store as run_event_study_and_store
@@ -866,6 +867,34 @@ async def compute_market_regime() -> None:
         _log_event(logging.ERROR, "job_error", job=job_name, error_type=type(exc).__name__, message=str(exc))
 
 
+# ---------------------------------------------------------------------------
+# Job: Benchmark Collector (SPY closes for paper-trade alpha)
+# ---------------------------------------------------------------------------
+
+
+async def collect_benchmark() -> None:
+    """Refresh the stored benchmark (SPY) daily closes used for paper-trade alpha."""
+    job_name = "benchmark_collector"
+    _log_event(logging.INFO, "job_start", job=job_name)
+    _runtime_start(job_name, total=1)
+
+    try:
+        async with async_session_factory() as db:
+            if not await _is_job_enabled(db, job_name):
+                _log_event(logging.INFO, "job_skipped", job=job_name, reason="disabled")
+                _runtime_finish(job_name, "skipped", processed=0, total=1, message="Disabled")
+                return
+
+            written = await refresh_benchmark_prices(db)
+
+        _runtime_progress(job_name, processed=1, total=1)
+        _runtime_finish(job_name, "completed", processed=1, total=1, message=f"{written} rows")
+        _log_event(logging.INFO, "job_complete", job=job_name, rows=written)
+    except Exception as exc:
+        _runtime_finish(job_name, "error", processed=0, total=1, message=str(exc))
+        _log_event(logging.ERROR, "job_error", job=job_name, error_type=type(exc).__name__, message=str(exc))
+
+
 # ---------------------------------------------------------------------------
 # Job: Regime Monitor
 # ---------------------------------------------------------------------------
@@ -1016,6 +1045,7 @@ async def sync_ticker_universe() -> None:
 # Daily (full): the complete data→signal refresh, once a day.
 _DAILY_PIPELINE_STEPS = [
     ("data_collector", "collect_ohlcv"),
+    ("benchmark_collector", "collect_benchmark"),
     ("sentiment_collector", "collect_sentiment"),
     ("rr_scanner", "scan_rr"),
     ("outcome_evaluator", "evaluate_outcomes"),
@@ -1068,8 +1098,8 @@ async def _run_pipeline(job_name: str, steps: list[tuple[str, str]]) -> None:
 
 
 async def run_daily_pipeline() -> None:
-    """Full daily flow: OHLCV → sentiment → R:R scan → outcome eval (+paper
+    """Full daily flow: OHLCV → benchmark → sentiment → R:R scan → outcome eval
-    close) → market regime."""
+    (+paper close) → market regime."""
     await _run_pipeline("daily_pipeline", _DAILY_PIPELINE_STEPS)
 
 
@@ -1176,6 +1206,7 @@ def configure_scheduler(schedule_config: dict[str, str] | None = None) -> None:
     # interval job). They stay manually triggerable from Admin → Jobs.
     _members = [
         (collect_ohlcv, "data_collector", "Data Collector (OHLCV)"),
+        (collect_benchmark, "benchmark_collector", "Benchmark Collector"),
         (collect_sentiment, "sentiment_collector", "Sentiment Collector"),
         (scan_rr, "rr_scanner", "R:R Scanner"),
         (evaluate_outcomes, "outcome_evaluator", "Outcome Evaluator"),

app/schemas/paper_trade.py

@@ -33,3 +33,8 @@ class PaperTradeResponse(BaseModel):
     close_price: float | None = None
     closed_at: datetime | None = None
     current_price: float | None = None
+    # Alpha vs the S&P 500 (SPY) over the trade's holding period. None when the
+    # benchmark series doesn't cover the trade's open date yet.
+    benchmark_return_pct: float | None = None
+    alpha_pct: float | None = None
+    alpha_usd: float | None = None

app/schemas/watchlist.py

@@ -32,6 +32,7 @@ class WatchlistEntryResponse(BaseModel):
     dimensions: list[DimensionScoreSummary] = []
     rr_ratio: float | None = None
     rr_direction: str | None = None
+    momentum_percentile: float | None = None
     sr_levels: list[SRLevelSummary] = []
     last_close: float | None = None
     change_pct: float | None = None

app/services/benchmark_service.py

@@ -0,0 +1,101 @@
+"""Benchmark price store + alpha helpers.
+
+Fetches the S&P 500 proxy (SPY) daily closes via Alpaca and persists them, so
+paper-trade alpha — a trade's return minus the benchmark's return over the same
+holding period — can be computed. The benchmark is a standalone series, NOT a
+tracked ``Ticker``, so it never contaminates the scanner, momentum-percentile
+ranking, or rankings.
+"""
+
+from __future__ import annotations
+
+import bisect
+import logging
+from datetime import date, timedelta
+
+from sqlalchemy import select
+from sqlalchemy.ext.asyncio import AsyncSession
+
+from app.config import settings
+from app.models.benchmark_price import BenchmarkPrice
+from app.providers.alpaca import AlpacaOHLCVProvider
+
+logger = logging.getLogger(__name__)
+
+BENCHMARK_SYMBOL = "SPY"
+# ~800 calendar days ≈ 550 trading days — comfortably covers any realistic paper
+# holding period plus a margin for the nearest-prior-trading-day lookup.
+_HISTORY_DAYS = 800
+
+
+async def refresh_benchmark_prices(
+    db: AsyncSession, symbol: str = BENCHMARK_SYMBOL, days: int = _HISTORY_DAYS
+) -> int:
+    """Fetch the benchmark's daily closes and upsert them. Returns rows written.
+
+    Idempotent: inserts new dates, updates a close only if it changed (e.g. after
+    a split adjustment). Best-effort — returns 0 when Alpaca keys are unset.
+    """
+    if not settings.alpaca_api_key or not settings.alpaca_api_secret:
+        logger.warning("Benchmark refresh skipped: Alpaca keys not configured")
+        return 0
+
+    provider = AlpacaOHLCVProvider(settings.alpaca_api_key, settings.alpaca_api_secret)
+    end = date.today()
+    start = end - timedelta(days=days)
+    bars = await provider.fetch_ohlcv(symbol, start, end)
+
+    existing = {
+        row.date: row
+        for row in (
+            await db.execute(select(BenchmarkPrice).where(BenchmarkPrice.symbol == symbol))
+        ).scalars()
+    }
+
+    written = 0
+    for bar in bars:
+        current = existing.get(bar.date)
+        if current is None:
+            db.add(BenchmarkPrice(symbol=symbol, date=bar.date, close=float(bar.close)))
+            written += 1
+        elif abs(current.close - float(bar.close)) > 1e-9:
+            current.close = float(bar.close)
+            written += 1
+
+    if written:
+        await db.commit()
+    logger.info("Benchmark %s refreshed: %d rows written", symbol, written)
+    return written
+
+
+async def load_benchmark_closes(
+    db: AsyncSession, symbol: str = BENCHMARK_SYMBOL
+) -> dict[date, float]:
+    """Return ``{date: close}`` for the benchmark (empty if none stored yet)."""
+    rows = await db.execute(
+        select(BenchmarkPrice.date, BenchmarkPrice.close).where(BenchmarkPrice.symbol == symbol)
+    )
+    return {d: float(c) for d, c in rows.all()}
+
+
+def benchmark_return_pct(
+    closes: dict[date, float], open_date: date, as_of_date: date
+) -> float | None:
+    """Benchmark % return between two dates, using the nearest close on/before each.
+
+    Returns ``None`` when there's no benchmark data at or before either endpoint
+    (e.g. a trade opened before the stored history, or the table is empty).
+    """
+    if not closes:
+        return None
+    dates = sorted(closes)
+
+    def _close_on_or_before(target: date) -> float | None:
+        idx = bisect.bisect_right(dates, target) - 1
+        return closes[dates[idx]] if idx >= 0 else None
+
+    start = _close_on_or_before(open_date)
+    end = _close_on_or_before(as_of_date)
+    if start is None or end is None or start == 0:
+        return None
+    return (end - start) / start * 100.0

app/services/paper_trade_service.py

@@ -2,7 +2,7 @@
 
 from __future__ import annotations
 
-from datetime import datetime, timezone
+from datetime import date, datetime, timezone
 
 from sqlalchemy import and_, func, select
 from sqlalchemy.ext.asyncio import AsyncSession
@@ -11,6 +11,7 @@ from app.exceptions import NotFoundError, ValidationError
 from app.models.ohlcv import OHLCVRecord
 from app.models.paper_trade import PaperTrade
 from app.models.ticker import Ticker
+from app.services import benchmark_service
 from app.services.outcome_service import (
     OUTCOME_AMBIGUOUS,
     OUTCOME_STOP_HIT,
@@ -85,7 +86,34 @@ async def create_trade(
     return trade
 
 
-def _to_dict(trade: PaperTrade, symbol: str, current_price: float | None) -> dict:
+def _to_dict(
+    trade: PaperTrade,
+    symbol: str,
+    current_price: float | None,
+    benchmark_closes: dict[date, float] | None = None,
+) -> dict:
+    # For open trades, mark to market; for closed, the realized exit price.
+    ref = current_price if trade.status == "open" else trade.close_price
+
+    # Alpha = trade return − benchmark (SPY) return over the same holding period.
+    benchmark_return = None
+    alpha_pct = None
+    alpha_usd = None
+    if ref is not None and trade.entry_price and benchmark_closes:
+        sign = 1.0 if trade.direction == "long" else -1.0
+        trade_return = (ref - trade.entry_price) / trade.entry_price * 100.0 * sign
+        as_of = (
+            trade.closed_at.date()
+            if trade.status == "closed" and trade.closed_at is not None
+            else date.today()
+        )
+        benchmark_return = benchmark_service.benchmark_return_pct(
+            benchmark_closes, trade.opened_at.date(), as_of
+        )
+        if benchmark_return is not None:
+            alpha_pct = trade_return - benchmark_return
+            alpha_usd = alpha_pct / 100.0 * trade.entry_price * trade.shares
+
     return {
         "id": trade.id,
         "symbol": symbol,
@@ -98,8 +126,10 @@ def _to_dict(trade: PaperTrade, symbol: str, current_price: float | None) -> dic
         "opened_at": trade.opened_at,
         "close_price": trade.close_price,
         "closed_at": trade.closed_at,
-        # For open trades, mark to market; for closed, the realized exit price.
+        "current_price": ref,
-        "current_price": current_price if trade.status == "open" else trade.close_price,
+        "benchmark_return_pct": benchmark_return,
+        "alpha_pct": alpha_pct,
+        "alpha_usd": alpha_usd,
     }
 
 
@@ -120,7 +150,13 @@ async def list_trades(
     rows = (await db.execute(stmt)).all()
     open_ids = {t.ticker_id for t, _ in rows if t.status == "open"}
     prices = await _latest_closes(db, open_ids)
-    return [_to_dict(t, sym, prices.get(t.ticker_id)) for t, sym in rows]
+
+    # Benchmark closes for alpha — populated by the daily/benchmark job. Empty until
+    # that runs once, in which case alpha is simply left unset (a read path never
+    # makes a provider call).
+    benchmark_closes = await benchmark_service.load_benchmark_closes(db)
+
+    return [_to_dict(t, sym, prices.get(t.ticker_id), benchmark_closes) for t, sym in rows]
 
 
 async def close_trade(

app/services/watchlist_service.py

@@ -173,6 +173,9 @@ async def _enrich_entry(
         "dimensions": dims,
         "rr_ratio": setup.rr_ratio if setup else None,
         "rr_direction": setup.direction if setup else None,
+        # 12-1 cross-sectional momentum percentile (the top-pick selector); ticker-
+        # level, so any of the ticker's setups carries the same value.
+        "momentum_percentile": setup.momentum_percentile if setup else None,
         "sr_levels": sr_levels,
         "last_close": last_close,
         "change_pct": change_pct,

frontend/src/components/dashboard/OpenTradesPanel.tsx

@@ -21,16 +21,21 @@ export function OpenTradesPanel() {
   const close = useClosePaperTrade();
 
   const totals = useMemo(() => {
-    let pnl = 0, winners = 0, losers = 0, priced = 0;
+    let pnl = 0, winners = 0, losers = 0, priced = 0, alphaUsd = 0, alphaPriced = 0;
     for (const t of trades ?? []) {
       const p = tradePnl(t);
-      if (!p) continue;
+      if (p) {
-      priced += 1;
+        priced += 1;
-      pnl += p.pnl;
+        pnl += p.pnl;
-      if (p.pnl > 0) winners += 1;
+        if (p.pnl > 0) winners += 1;
-      else if (p.pnl < 0) losers += 1;
+        else if (p.pnl < 0) losers += 1;
+      }
+      if (t.alpha_usd != null) {
+        alphaUsd += t.alpha_usd;
+        alphaPriced += 1;
+      }
     }
-    return { pnl, winners, losers, priced };
+    return { pnl, winners, losers, priced, alphaUsd, alphaPriced };
   }, [trades]);
 
   if (isLoading) return null;
@@ -58,6 +63,7 @@ export function OpenTradesPanel() {
                 <th className="px-4 py-3 text-right">P&L</th>
                 <th className="px-4 py-3 text-right">%</th>
                 <th className="px-4 py-3 text-right">R</th>
+                <th className="px-4 py-3 text-right">Alpha</th>
                 <th className="px-4 py-3"></th>
               </tr>
             </thead>
@@ -90,6 +96,9 @@ export function OpenTradesPanel() {
                     <td className={`num px-4 py-3 text-right ${p?.r != null ? pnlColor(p.r) : 'text-gray-500'}`}>
                       {p?.r != null ? `${p.r >= 0 ? '+' : ''}${p.r.toFixed(2)}R` : '—'}
                     </td>
+                    <td className={`num px-4 py-3 text-right ${t.alpha_pct != null ? pnlColor(t.alpha_pct) : 'text-gray-500'}`} title="Return vs. S&P 500 over the holding period">
+                      {t.alpha_pct != null ? `${t.alpha_pct >= 0 ? '+' : ''}${t.alpha_pct.toFixed(1)}%` : '—'}
+                    </td>
                     <td className="px-4 py-3 text-right">
                       <button
                         onClick={() => {
@@ -110,12 +119,16 @@ export function OpenTradesPanel() {
             <tfoot>
               <tr className="border-t border-white/[0.08]">
                 <td className="px-4 py-2.5 text-xs text-gray-500" colSpan={5}>
-                  Total unrealized P&L
+                  Total unrealized P&L · alpha vs S&P 500
                 </td>
                 <td className={`num px-4 py-2.5 text-right font-semibold ${pnlColor(totals.pnl)}`}>
                   {money(totals.pnl)}
                 </td>
-                <td colSpan={3} />
+                <td colSpan={2} />
+                <td className={`num px-4 py-2.5 text-right font-semibold ${totals.alphaPriced > 0 ? pnlColor(totals.alphaUsd) : 'text-gray-500'}`}>
+                  {totals.alphaPriced > 0 ? money(totals.alphaUsd) : '—'}
+                </td>
+                <td />
               </tr>
             </tfoot>
           </table>

frontend/src/components/layout/MobileNav.tsx

@@ -1,6 +1,7 @@
 import { useState } from 'react';
 import { NavLink } from 'react-router-dom';
 import { useAuthStore } from '../../stores/authStore';
+import TickerSearch from './TickerSearch';
 
 const navItems = [
   { to: '/', label: 'Overview', end: true },
@@ -46,6 +47,9 @@ export default function MobileNav() {
         }`}
       >
         <nav className="px-3 py-2 space-y-1">
+          <div className="pb-2">
+            <TickerSearch onNavigate={() => setOpen(false)} />
+          </div>
           {navItems.map(({ to, label, end }) => (
             <NavLink
               key={to}

frontend/src/components/layout/Sidebar.tsx

@@ -3,6 +3,7 @@ import { useQuery } from '@tanstack/react-query';
 import { useAuthStore } from '../../stores/authStore';
 import { check as healthCheck } from '../../api/health';
 import { getRunningJobs } from '../../api/jobs';
+import TickerSearch from './TickerSearch';
 
 const navItems = [
   { to: '/', label: 'Overview', index: '01', end: true },
@@ -54,6 +55,10 @@ export default function Sidebar() {
         <p className="text-[10px] text-gray-500 mt-1.5 font-mono uppercase tracking-[0.22em]">Trading Intelligence</p>
       </div>
 
+      <div className="px-3 pt-4">
+        <TickerSearch />
+      </div>
+
       <nav className="flex-1 px-3 py-5 space-y-1">
         {navItems.map(({ to, label, index, end }) => (
           <NavLink key={to} to={to} end={end} className={({ isActive }) => linkClasses(isActive)}>

frontend/src/components/layout/TickerSearch.tsx

@@ -0,0 +1,96 @@
+import { useMemo, useRef, useState } from 'react';
+import { useNavigate } from 'react-router-dom';
+import { useTickers } from '../../hooks/useTickers';
+import { Input } from '../ui/Field';
+
+const MAX_RESULTS = 8;
+
+/** Jump-to-ticker search over the tracked universe. Selecting a match opens its
+ *  detail page — it does NOT add the ticker to the watchlist. */
+export default function TickerSearch({ onNavigate }: { onNavigate?: () => void }) {
+  const tickers = useTickers();
+  const navigate = useNavigate();
+  const [q, setQ] = useState('');
+  const [open, setOpen] = useState(false);
+  const [active, setActive] = useState(0);
+  const blurTimer = useRef<number | null>(null);
+
+  const matches = useMemo(() => {
+    const query = q.trim().toUpperCase();
+    if (!query) return [];
+    const all = tickers.data ?? [];
+    const starts = all.filter((t) => t.symbol.toUpperCase().startsWith(query));
+    const contains = all.filter(
+      (t) => !t.symbol.toUpperCase().startsWith(query) && t.symbol.toUpperCase().includes(query),
+    );
+    return [...starts, ...contains].slice(0, MAX_RESULTS);
+  }, [q, tickers.data]);
+
+  const go = (symbol: string) => {
+    navigate(`/ticker/${symbol}`);
+    setQ('');
+    setOpen(false);
+    setActive(0);
+    onNavigate?.();
+  };
+
+  const onKeyDown = (e: React.KeyboardEvent<HTMLInputElement>) => {
+    if (e.key === 'ArrowDown') {
+      e.preventDefault();
+      setActive((a) => Math.min(a + 1, matches.length - 1));
+    } else if (e.key === 'ArrowUp') {
+      e.preventDefault();
+      setActive((a) => Math.max(a - 1, 0));
+    } else if (e.key === 'Enter') {
+      e.preventDefault();
+      const m = matches[active];
+      if (m) go(m.symbol);
+    } else if (e.key === 'Escape') {
+      setQ('');
+      setOpen(false);
+    }
+  };
+
+  const showList = open && q.trim().length > 0 && matches.length > 0;
+
+  return (
+    <div className="relative">
+      <Input
+        type="text"
+        value={q}
+        onChange={(e) => {
+          setQ(e.target.value);
+          setOpen(true);
+          setActive(0);
+        }}
+        onFocus={() => setOpen(true)}
+        onBlur={() => {
+          blurTimer.current = window.setTimeout(() => setOpen(false), 120);
+        }}
+        onKeyDown={onKeyDown}
+        placeholder="Search ticker…"
+        aria-label="Search ticker"
+        autoComplete="off"
+        className="w-full"
+      />
+      {showList && (
+        <ul className="absolute z-20 mt-1 max-h-72 w-full overflow-y-auto rounded-lg glass py-1 shadow-xl">
+          {matches.map((t, i) => (
+            <li key={t.symbol}>
+              <button
+                type="button"
+                onMouseEnter={() => setActive(i)}
+                onClick={() => go(t.symbol)}
+                className={`flex w-full items-center px-3 py-1.5 text-left text-sm transition-colors ${
+                  i === active ? 'bg-blue-400/[0.12] text-blue-200' : 'text-gray-300 hover:bg-white/[0.04]'
+                }`}
+              >
+                {t.symbol}
+              </button>
+            </li>
+          ))}
+        </ul>
+      )}
+    </div>
+  );
+}

frontend/src/components/signals/MyTradesPanel.tsx

@@ -38,6 +38,7 @@ export function MyTradesPanel() {
     const rows = (closed ?? []).map((t) => ({ t, p: tradePnl(t) }));
     const rs = rows.map((r) => r.p?.r).filter((r): r is number => r != null);
     const pnls = rows.map((r) => r.p?.pnl ?? 0);
+    const alphas = rows.map((r) => r.t.alpha_usd).filter((a): a is number => a != null);
     const wins = pnls.filter((p) => p > 0).length;
     const losses = pnls.filter((p) => p < 0).length;
     const decided = wins + losses;
@@ -49,6 +50,7 @@ export function MyTradesPanel() {
       avgR: rs.length ? rs.reduce((a, b) => a + b, 0) / rs.length : null,
       totalR: rs.length ? rs.reduce((a, b) => a + b, 0) : null,
       totalPnl: pnls.reduce((a, b) => a + b, 0),
+      totalAlpha: alphas.length ? alphas.reduce((a, b) => a + b, 0) : null,
       rows,
     };
   }, [closed]);
@@ -64,11 +66,12 @@ export function MyTradesPanel() {
         </Callout>
       ) : (
         <div className="space-y-4">
-          <div className="grid gap-3 sm:grid-cols-2 lg:grid-cols-4">
+          <div className="grid gap-3 sm:grid-cols-2 lg:grid-cols-5">
             <Stat label="Hit Rate" value={stats.hitRate != null ? `${stats.hitRate.toFixed(1)}%` : '—'} sub={`${stats.wins}W / ${stats.losses}L`} />
             <Stat label="Expectancy" value={fmtR(stats.avgR)} valueClass={color(stats.avgR)} sub="avg R per closed trade" />
             <Stat label="Total R" value={fmtR(stats.totalR)} valueClass={color(stats.totalR)} sub={`${stats.total} closed`} />
             <Stat label="Total P&L" value={money(stats.totalPnl)} valueClass={color(stats.totalPnl)} sub="realized, all closed" />
+            <Stat label="Alpha vs S&P 500" value={stats.totalAlpha != null ? money(stats.totalAlpha) : '—'} valueClass={color(stats.totalAlpha)} sub="realized vs buy-and-hold SPY" />
           </div>
 
           <div className="glass overflow-x-auto">
@@ -81,6 +84,7 @@ export function MyTradesPanel() {
                   <th className="px-4 py-2.5 text-right">Exit</th>
                   <th className="px-4 py-2.5 text-right">P&L</th>
                   <th className="px-4 py-2.5 text-right">R</th>
+                  <th className="px-4 py-2.5 text-right">Alpha</th>
                   <th className="px-4 py-2.5 text-right">Closed</th>
                 </tr>
               </thead>
@@ -97,6 +101,7 @@ export function MyTradesPanel() {
                     <td className="num px-4 py-2.5 text-right text-gray-300">{t.close_price != null ? formatPrice(t.close_price) : '—'}</td>
                     <td className={`num px-4 py-2.5 text-right font-semibold ${p ? color(p.pnl) : 'text-gray-500'}`}>{p ? money(p.pnl) : '—'}</td>
                     <td className={`num px-4 py-2.5 text-right ${p?.r != null ? color(p.r) : 'text-gray-500'}`}>{p?.r != null ? fmtR(p.r) : '—'}</td>
+                    <td className={`num px-4 py-2.5 text-right ${t.alpha_pct != null ? color(t.alpha_pct) : 'text-gray-500'}`} title="Return vs. S&P 500 over the holding period">{t.alpha_pct != null ? `${t.alpha_pct >= 0 ? '+' : ''}${t.alpha_pct.toFixed(1)}%` : '—'}</td>
                     <td className="num px-4 py-2.5 text-right text-gray-500">{t.closed_at ? new Date(t.closed_at).toLocaleDateString() : '—'}</td>
                   </tr>
                 ))}

frontend/src/components/watchlist/WatchlistTable.tsx

@@ -42,7 +42,7 @@ export function WatchlistTable({ entries }: WatchlistTableProps) {
             <th className="px-4 py-3">Dimensions</th>
             <th className="px-4 py-3">R:R</th>
             <th className="px-4 py-3">Direction</th>
-            <th className="px-4 py-3">S/R Levels</th>
+            <th className="px-4 py-3">Momentum</th>
             <th className="px-4 py-3"></th>
           </tr>
         </thead>
@@ -114,15 +114,9 @@ export function WatchlistTable({ entries }: WatchlistTableProps) {
                   <span className="text-gray-500">—</span>
                 )}
               </td>
-              <td className="px-4 py-3.5">
+              <td className="px-4 py-3.5 num text-gray-200">
-                {entry.sr_levels.length > 0 ? (
+                {entry.momentum_percentile !== null ? (
-                  <div className="flex flex-wrap gap-1">
+                  `${Math.round(entry.momentum_percentile)}%ile`
-                    {entry.sr_levels.map((level, i) => (
-                      <span key={i} className={`text-xs ${level.type === 'support' ? 'text-emerald-400' : 'text-red-400'}`}>
-                        {formatPrice(level.price_level)}
-                      </span>
-                    ))}
-                  </div>
                 ) : (
                   <span className="text-gray-500">—</span>
                 )}

frontend/src/lib/types.ts

@@ -19,6 +19,7 @@ export interface WatchlistEntry {
   dimensions: DimensionScore[];
   rr_ratio: number | null;
   rr_direction: string | null;
+  momentum_percentile: number | null;
   sr_levels: SRLevelSummary[];
   last_close: number | null;
   change_pct: number | null;
@@ -201,6 +202,9 @@ export interface PaperTrade {
   close_price: number | null;
   closed_at: string | null;
   current_price: number | null;
+  benchmark_return_pct: number | null;
+  alpha_pct: number | null;
+  alpha_usd: number | null;
 }
 
 export interface BacktestBucket {

frontend/src/pages/DashboardPage.tsx

@@ -100,8 +100,10 @@ export default function DashboardPage() {
   const exposure = useMemo(() => {
     const rows = openTrades.data ?? [];
     let riskUsd = 0, unrealUsd = 0, unrealR = 0, rPriced = 0, winners = 0, losers = 0;
+    let alphaUsd = 0, alphaPriced = 0;
     for (const t of rows) {
       riskUsd += Math.abs(t.entry_price - t.stop_loss) * t.shares;
+      if (t.alpha_usd != null) { alphaUsd += t.alpha_usd; alphaPriced += 1; }
       const p = tradePnl(t);
       if (!p) continue;
       unrealUsd += p.pnl;
@@ -109,7 +111,7 @@ export default function DashboardPage() {
       if (p.pnl > 0) winners += 1;
       else if (p.pnl < 0) losers += 1;
     }
-    return { count: rows.length, riskUsd, unrealUsd, unrealR, rPriced, winners, losers };
+    return { count: rows.length, riskUsd, unrealUsd, unrealR, rPriced, winners, losers, alphaUsd, alphaPriced };
   }, [openTrades.data]);
 
   return (
@@ -141,11 +143,11 @@ export default function DashboardPage() {
 
       {/* Metric strip */}
       {(trades.isLoading || openTrades.isLoading) ? (
-        <div className="grid gap-4 sm:grid-cols-2 lg:grid-cols-4">
+        <div className="grid gap-4 sm:grid-cols-2 lg:grid-cols-5">
-          <SkeletonCard /><SkeletonCard /><SkeletonCard /><SkeletonCard />
+          <SkeletonCard /><SkeletonCard /><SkeletonCard /><SkeletonCard /><SkeletonCard />
         </div>
       ) : (
-        <div className="grid gap-4 sm:grid-cols-2 lg:grid-cols-4">
+        <div className="grid gap-4 sm:grid-cols-2 lg:grid-cols-5">
           <Metric
             label="Live Setups"
             value={String(trades.data?.length ?? 0)}
@@ -172,6 +174,16 @@ export default function DashboardPage() {
                 : 'mark-to-market'
             }
           />
+          <Metric
+            label="Alpha vs S&P 500"
+            value={exposure.alphaPriced > 0 ? money(exposure.alphaUsd) : '—'}
+            valueClass={
+              exposure.alphaPriced > 0
+                ? exposure.alphaUsd >= 0 ? 'text-emerald-400' : 'text-red-400'
+                : 'text-gray-100'
+            }
+            sub={exposure.alphaPriced > 0 ? `${exposure.alphaPriced} open · vs buy-and-hold SPY` : 'vs buy-and-hold SPY'}
+          />
         </div>
       )}
 

tests/unit/test_benchmark_service.py

@@ -0,0 +1,29 @@
+"""Tests for benchmark return / alpha helper (pure, no DB)."""
+
+from __future__ import annotations
+
+from datetime import date
+
+import pytest
+
+from app.services.benchmark_service import benchmark_return_pct
+
+
+def test_benchmark_return_basic():
+    closes = {date(2026, 1, 2): 100.0, date(2026, 1, 5): 110.0}
+    assert benchmark_return_pct(closes, date(2026, 1, 2), date(2026, 1, 5)) == pytest.approx(10.0)
+
+
+def test_benchmark_return_uses_nearest_prior_trading_day():
+    # No bar on the 4th (weekend) → falls back to the 2nd; as-of the 12th → the 9th.
+    closes = {date(2026, 1, 2): 100.0, date(2026, 1, 9): 120.0}
+    assert benchmark_return_pct(closes, date(2026, 1, 4), date(2026, 1, 12)) == pytest.approx(20.0)
+
+
+def test_benchmark_return_none_when_empty():
+    assert benchmark_return_pct({}, date(2026, 1, 2), date(2026, 1, 5)) is None
+
+
+def test_benchmark_return_none_when_open_before_history():
+    closes = {date(2026, 1, 10): 100.0}
+    assert benchmark_return_pct(closes, date(2026, 1, 2), date(2026, 1, 12)) is None

tests/unit/test_paper_trade_service.py

@@ -7,7 +7,9 @@ from datetime import date, datetime, timedelta, timezone
 import pytest
 
 from app.exceptions import ValidationError
+from app.models.benchmark_price import BenchmarkPrice
 from app.models.ohlcv import OHLCVRecord
+from app.models.paper_trade import PaperTrade
 from app.models.ticker import Ticker
 from app.models.user import User
 from app.services import paper_trade_service as svc
@@ -124,3 +126,48 @@ async def test_resolve_leaves_open_when_neither_hit(session):
     assert closed == 0
     rows = await svc.list_trades(session, 1, status="open")
     assert len(rows) == 1
+
+
+async def _seed_benchmark(session, points: dict) -> None:
+    for d, close in points.items():
+        session.add(BenchmarkPrice(symbol="SPY", date=d, close=close))
+    await session.commit()
+
+
+async def _add_open_trade(session, ticker_id: int, direction: str, *, entry: float,
+                          shares: float, days_ago: int) -> None:
+    session.add(PaperTrade(
+        user_id=1, ticker_id=ticker_id, direction=direction, entry_price=entry,
+        shares=shares, stop_loss=entry * 0.95, target=entry * 1.2, status="open",
+        opened_at=datetime.now(timezone.utc) - timedelta(days=days_ago),
+    ))
+    await session.commit()
+
+
+async def test_alpha_long_open(session):
+    tid = await _seed(session, "AAA", close=110.0)  # current price 110 → +10% on a 100 entry
+    today = date.today()
+    await _seed_benchmark(session, {today - timedelta(days=10): 400.0, today: 420.0})  # SPY +5%
+    await _add_open_trade(session, tid, "long", entry=100.0, shares=10, days_ago=10)
+
+    row = (await svc.list_trades(session, 1, status="open"))[0]
+    assert row["benchmark_return_pct"] == pytest.approx(5.0)
+    assert row["alpha_pct"] == pytest.approx(5.0)            # +10% trade − 5% bench
+    assert row["alpha_usd"] == pytest.approx(50.0)           # 5% of 100*10
+
+
+async def test_alpha_short_and_missing_benchmark(session):
+    tid = await _seed(session, "BBB", close=90.0)  # price fell to 90 → short +10%
+    today = date.today()
+    await _add_open_trade(session, tid, "short", entry=100.0, shares=4, days_ago=10)
+
+    # No benchmark data yet → alpha unset, not an error.
+    row = (await svc.list_trades(session, 1, status="open"))[0]
+    assert row["alpha_pct"] is None
+    assert row["benchmark_return_pct"] is None
+
+    # Flat benchmark → alpha equals the (direction-signed) trade return.
+    await _seed_benchmark(session, {today - timedelta(days=10): 400.0, today: 400.0})
+    row = (await svc.list_trades(session, 1, status="open"))[0]
+    assert row["benchmark_return_pct"] == pytest.approx(0.0)
+    assert row["alpha_pct"] == pytest.approx(10.0)

tests/unit/test_scheduler.py

@@ -80,6 +80,7 @@ class TestConfigureScheduler:
         assert job_ids == {
             "data_collector",
             "data_backfill",
+            "benchmark_collector",
             "sentiment_collector",
             "fundamental_collector",
             "rr_scanner",
@@ -103,6 +104,7 @@ class TestConfigureScheduler:
         assert sorted(job_ids) == sorted([
             "alerts",
             "backtest",
+            "benchmark_collector",
             "daily_pipeline",
             "intraday_pipeline",
             "data_collector",

tests/unit/test_watchlist_service.py

@@ -60,6 +60,25 @@ async def _make_ticker(session, symbol: str, *, score: float | None = None) -> i
     return t.id
 
 
+async def test_enrich_includes_momentum_percentile(session):
+    """The watchlist row carries the ticker's momentum percentile (from its setup),
+    which replaces the old S/R-levels column in the UI."""
+    from app.models.trade_setup import TradeSetup
+
+    user_id = await _make_user(session)
+    tid = await _make_ticker(session, "AAA", score=70.0)
+    session.add(TradeSetup(
+        ticker_id=tid, direction="long", entry_price=100.0, stop_loss=95.0,
+        target=110.0, rr_ratio=2.0, composite_score=70.0,
+        momentum_percentile=88.0, detected_at=datetime.now(timezone.utc),
+    ))
+    await session.commit()
+
+    await add_manual_entry(session, user_id, "AAA")
+    rows = await get_watchlist(session, user_id)
+    assert rows[0]["momentum_percentile"] == 88.0
+
+
 async def test_add_and_remove_sticks(session):
     user_id = await _make_user(session)
     await _make_ticker(session, "AAA", score=80.0)