The comparison plotted both books in dollars and SPY on a hidden rescaled
axis, stretched so its biggest move matched the books' biggest move. SPY's
height therefore said nothing about which was ahead, and the stat cells
showed R next to SPY's percent, which do not compare.
Everything is now percent of the shadow book's equity:
- shadow: actual P&L over equity at window start (start equity plus P&L
realized before a pinned performance_start_date)
- your picks: re-sized at the shadow book's rule (risk_pct, 20% notional
cap), so the gap between books is selection only
- SPY: buy & hold on the same axis
A strategy-vs-SPY verdict measures SPY from the shadow book's first trade,
so manual trades opening earlier no longer charge the strategy for SPY's
run-up before it existed. R stats stay underneath for book-vs-book reads.
Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>
dennisthiessenandClaude Opus 5.5
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