{
  "schema_version": 1,
  "experiment_id": 12,
  "hypothesis_id": 6,
  "strategy_id": 6,
  "result_sha256": "9b312d3b5defc8d0b5ef500b839ad1714c6c02b24e9693d758a2bb7647f7f7f1",
  "dataset_sha256": "e5a4d9d3d3ddff88dfa726e75f3421c7ee1783afd0f81def9a0eb556c4045802",
  "outcome": "inconclusive",
  "verdict": {
    "automatic_promotion": false,
    "economic_decision": "reject_current_rule",
    "economic_failures": [
      {
        "period": "before_gap",
        "required_excess": 0.02,
        "scenario": "base"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0.02,
        "scenario": "base"
      },
      {
        "period": "after_gap",
        "required_excess": 0.02,
        "scenario": "base"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "adx_16"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "adx_16"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "adx_24"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "adx_24"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "rsi_32"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "rsi_32"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "rsi_48"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "rsi_48"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "stop_1_2"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "stop_1_2"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "stop_1_8"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "stop_1_8"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "hold_24"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "hold_24"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "hold_36"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "hold_36"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "double_cost"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "double_cost"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "delay_two_bars"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "delay_two_bars"
      },
      {
        "period": "before_gap",
        "required_excess": 0,
        "scenario": "miss_each_10th"
      },
      {
        "period": "reserved_tail_before_gap",
        "required_excess": 0,
        "scenario": "miss_each_10th"
      }
    ],
    "insufficient_samples": [
      {
        "days": 2037,
        "episodes": 3,
        "period": "before_gap",
        "required_days": 365,
        "required_episodes": 40
      },
      {
        "days": 408,
        "episodes": 1,
        "period": "reserved_tail_before_gap",
        "required_days": 90,
        "required_episodes": 10
      },
      {
        "days": 329,
        "episodes": 0,
        "period": "after_gap",
        "required_days": 90,
        "required_episodes": 10
      }
    ],
    "outcome": "inconclusive",
    "statistics_estimable": true,
    "statistics_pass": false
  },
  "diagnostics": {
    "dsr": {
      "base_weekly_sharpe": -0.10762308315832259,
      "benchmark_weekly_sharpe": 0.0019184848189542966,
      "kurtosis": 4.317206305849615,
      "scope": "IID_weekly_diagnostic_within_nine_rules_only",
      "skew": -0.09004247694901386,
      "trials": 9,
      "value": 0.047960516085020166,
      "weeks": 232
    },
    "selection": {
      "estimable_folds": 70,
      "folds": [
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.019872540194207727,
          "selected": "rsi_32",
          "test": [
            4,
            5,
            6,
            7
          ],
          "train": [
            0,
            1,
            2,
            3
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.6,
          "oos_sharpe": -0.06304199973179468,
          "selected": "rsi_32",
          "test": [
            3,
            5,
            6,
            7
          ],
          "train": [
            0,
            1,
            2,
            4
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.026600575975732437,
          "selected": "rsi_32",
          "test": [
            3,
            4,
            6,
            7
          ],
          "train": [
            0,
            1,
            2,
            5
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.020253823049015345,
          "selected": "rsi_32",
          "test": [
            3,
            4,
            5,
            7
          ],
          "train": [
            0,
            1,
            2,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": 0.000559764193844228,
          "selected": "rsi_32",
          "test": [
            3,
            4,
            5,
            6
          ],
          "train": [
            0,
            1,
            2,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.6,
          "oos_sharpe": -0.08629414666084574,
          "selected": "rsi_32",
          "test": [
            2,
            5,
            6,
            7
          ],
          "train": [
            0,
            1,
            3,
            4
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.05223760885251573,
          "selected": "rsi_32",
          "test": [
            2,
            4,
            6,
            7
          ],
          "train": [
            0,
            1,
            3,
            5
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.045869123975958874,
          "selected": "rsi_32",
          "test": [
            2,
            4,
            5,
            7
          ],
          "train": [
            0,
            1,
            3,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.027331392393802573,
          "selected": "rsi_32",
          "test": [
            2,
            4,
            5,
            6
          ],
          "train": [
            0,
            1,
            3,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.6,
          "oos_sharpe": -0.08753445200494862,
          "selected": "rsi_32",
          "test": [
            2,
            3,
            6,
            7
          ],
          "train": [
            0,
            1,
            4,
            5
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.55,
          "oos_sharpe": -0.08056545211782438,
          "selected": "rsi_32",
          "test": [
            2,
            3,
            5,
            7
          ],
          "train": [
            0,
            1,
            4,
            6
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.06635284731562777,
          "selected": "rsi_48",
          "test": [
            2,
            3,
            5,
            6
          ],
          "train": [
            0,
            1,
            4,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.053083574830392485,
          "selected": "rsi_48",
          "test": [
            2,
            3,
            4,
            7
          ],
          "train": [
            0,
            1,
            5,
            6
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.03612131656654599,
          "selected": "rsi_48",
          "test": [
            2,
            3,
            4,
            6
          ],
          "train": [
            0,
            1,
            5,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.03052852451897625,
          "selected": "rsi_48",
          "test": [
            2,
            3,
            4,
            5
          ],
          "train": [
            0,
            1,
            6,
            7
          ]
        },
        {
          "below_median": 0.5,
          "estimable": true,
          "oos_rank": 0.5,
          "oos_sharpe": -0.08206548854000431,
          "selected": "rsi_32",
          "test": [
            1,
            5,
            6,
            7
          ],
          "train": [
            0,
            2,
            3,
            4
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.8,
          "oos_sharpe": -0.03916394459042133,
          "selected": "rsi_32",
          "test": [
            1,
            4,
            6,
            7
          ],
          "train": [
            0,
            2,
            3,
            5
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.8,
          "oos_sharpe": -0.03152434208227733,
          "selected": "rsi_32",
          "test": [
            1,
            4,
            5,
            7
          ],
          "train": [
            0,
            2,
            3,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.008535798945430929,
          "selected": "rsi_32",
          "test": [
            1,
            4,
            5,
            6
          ],
          "train": [
            0,
            2,
            3,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.6,
          "oos_sharpe": -0.08216029875156493,
          "selected": "rsi_32",
          "test": [
            1,
            3,
            6,
            7
          ],
          "train": [
            0,
            2,
            4,
            5
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.55,
          "oos_sharpe": -0.07347011495814719,
          "selected": "rsi_32",
          "test": [
            1,
            3,
            5,
            7
          ],
          "train": [
            0,
            2,
            4,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.6,
          "oos_sharpe": -0.05252410647728346,
          "selected": "rsi_32",
          "test": [
            1,
            3,
            5,
            6
          ],
          "train": [
            0,
            2,
            4,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.03709195913468927,
          "selected": "rsi_32",
          "test": [
            1,
            3,
            4,
            7
          ],
          "train": [
            0,
            2,
            5,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.01640791923867391,
          "selected": "rsi_32",
          "test": [
            1,
            3,
            4,
            6
          ],
          "train": [
            0,
            2,
            5,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.010307840572774325,
          "selected": "rsi_32",
          "test": [
            1,
            3,
            4,
            5
          ],
          "train": [
            0,
            2,
            6,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.6,
          "oos_sharpe": -0.10376973119916594,
          "selected": "rsi_32",
          "test": [
            1,
            2,
            6,
            7
          ],
          "train": [
            0,
            3,
            4,
            5
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.55,
          "oos_sharpe": -0.09553058062400911,
          "selected": "rsi_32",
          "test": [
            1,
            2,
            5,
            7
          ],
          "train": [
            0,
            3,
            4,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.6,
          "oos_sharpe": -0.07688711911843274,
          "selected": "rsi_32",
          "test": [
            1,
            2,
            5,
            6
          ],
          "train": [
            0,
            3,
            4,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.061531030385596895,
          "selected": "rsi_32",
          "test": [
            1,
            2,
            4,
            7
          ],
          "train": [
            0,
            3,
            5,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.043082593777911175,
          "selected": "rsi_32",
          "test": [
            1,
            2,
            4,
            6
          ],
          "train": [
            0,
            3,
            5,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.03689640736911613,
          "selected": "rsi_32",
          "test": [
            1,
            2,
            4,
            5
          ],
          "train": [
            0,
            3,
            6,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.55,
          "oos_sharpe": -0.09617704175504946,
          "selected": "rsi_32",
          "test": [
            1,
            2,
            3,
            7
          ],
          "train": [
            0,
            4,
            5,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.6,
          "oos_sharpe": -0.07879966604333145,
          "selected": "rsi_32",
          "test": [
            1,
            2,
            3,
            6
          ],
          "train": [
            0,
            4,
            5,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.55,
          "oos_sharpe": -0.07199221642549003,
          "selected": "rsi_32",
          "test": [
            1,
            2,
            3,
            5
          ],
          "train": [
            0,
            4,
            6,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.044748901860114945,
          "selected": "rsi_48",
          "test": [
            1,
            2,
            3,
            4
          ],
          "train": [
            0,
            5,
            6,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.8,
          "oos_sharpe": -0.03910055202988159,
          "selected": "rsi_32",
          "test": [
            0,
            5,
            6,
            7
          ],
          "train": [
            1,
            2,
            3,
            4
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.2,
          "oos_sharpe": -0.006911547231535869,
          "selected": "stop_1_8",
          "test": [
            0,
            4,
            6,
            7
          ],
          "train": [
            1,
            2,
            3,
            5
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.0014991976011655653,
          "selected": "stop_1_8",
          "test": [
            0,
            4,
            5,
            7
          ],
          "train": [
            1,
            2,
            3,
            6
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.3,
          "oos_sharpe": 0.01837449077364208,
          "selected": "stop_1_8",
          "test": [
            0,
            4,
            5,
            6
          ],
          "train": [
            1,
            2,
            3,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.04386543338270379,
          "selected": "rsi_32",
          "test": [
            0,
            3,
            6,
            7
          ],
          "train": [
            1,
            2,
            4,
            5
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.03775918545982768,
          "selected": "rsi_32",
          "test": [
            0,
            3,
            5,
            7
          ],
          "train": [
            1,
            2,
            4,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.019226130499933998,
          "selected": "rsi_32",
          "test": [
            0,
            3,
            5,
            6
          ],
          "train": [
            1,
            2,
            4,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.2,
          "oos_sharpe": -0.008732936841568723,
          "selected": "stop_1_8",
          "test": [
            0,
            3,
            4,
            7
          ],
          "train": [
            1,
            2,
            5,
            6
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.3,
          "oos_sharpe": 0.009595275875890017,
          "selected": "stop_1_8",
          "test": [
            0,
            3,
            4,
            6
          ],
          "train": [
            1,
            2,
            5,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.2,
          "oos_sharpe": 0.01425355879710273,
          "selected": "stop_1_8",
          "test": [
            0,
            3,
            4,
            5
          ],
          "train": [
            1,
            2,
            6,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.06634097142877696,
          "selected": "rsi_32",
          "test": [
            0,
            2,
            6,
            7
          ],
          "train": [
            1,
            3,
            4,
            5
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.06027230473550611,
          "selected": "rsi_32",
          "test": [
            0,
            2,
            5,
            7
          ],
          "train": [
            1,
            3,
            4,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.043390068327134323,
          "selected": "rsi_32",
          "test": [
            0,
            2,
            5,
            6
          ],
          "train": [
            1,
            3,
            4,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.2,
          "oos_sharpe": -0.03247463728648123,
          "selected": "stop_1_8",
          "test": [
            0,
            2,
            4,
            7
          ],
          "train": [
            1,
            3,
            5,
            6
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.3,
          "oos_sharpe": -0.015755108386308146,
          "selected": "stop_1_8",
          "test": [
            0,
            2,
            4,
            6
          ],
          "train": [
            1,
            3,
            5,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.2,
          "oos_sharpe": -0.010922562270535544,
          "selected": "stop_1_8",
          "test": [
            0,
            2,
            4,
            5
          ],
          "train": [
            1,
            3,
            6,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.06356615790015399,
          "selected": "rsi_32",
          "test": [
            0,
            2,
            3,
            7
          ],
          "train": [
            1,
            4,
            5,
            6
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.050491157976268124,
          "selected": "rsi_48",
          "test": [
            0,
            2,
            3,
            6
          ],
          "train": [
            1,
            4,
            5,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.045072881821107455,
          "selected": "rsi_48",
          "test": [
            0,
            2,
            3,
            5
          ],
          "train": [
            1,
            4,
            6,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.01932599366826173,
          "selected": "rsi_48",
          "test": [
            0,
            2,
            3,
            4
          ],
          "train": [
            1,
            5,
            6,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.8,
          "oos_sharpe": -0.05634712795438079,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            6,
            7
          ],
          "train": [
            2,
            3,
            4,
            5
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.8,
          "oos_sharpe": -0.04920769646115024,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            5,
            7
          ],
          "train": [
            2,
            3,
            4,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.8,
          "oos_sharpe": -0.029193488670041175,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            5,
            6
          ],
          "train": [
            2,
            3,
            4,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": -0.017032074845499904,
          "selected": "stop_1_8",
          "test": [
            0,
            1,
            4,
            7
          ],
          "train": [
            2,
            3,
            5,
            6
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.2,
          "oos_sharpe": 0.0027327442087964034,
          "selected": "stop_1_8",
          "test": [
            0,
            1,
            4,
            6
          ],
          "train": [
            2,
            3,
            5,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.1,
          "oos_sharpe": 0.007936665665649469,
          "selected": "stop_1_8",
          "test": [
            0,
            1,
            4,
            5
          ],
          "train": [
            2,
            3,
            6,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.053190071310727886,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            3,
            7
          ],
          "train": [
            2,
            4,
            5,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.03474563900492321,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            3,
            6
          ],
          "train": [
            2,
            4,
            5,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.028819084563198004,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            3,
            5
          ],
          "train": [
            2,
            4,
            6,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.2,
          "oos_sharpe": 1.0489528119431768e-05,
          "selected": "stop_1_8",
          "test": [
            0,
            1,
            3,
            4
          ],
          "train": [
            2,
            5,
            6,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.07479840545652836,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            2,
            7
          ],
          "train": [
            3,
            4,
            5,
            6
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.05797689705043287,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            2,
            6
          ],
          "train": [
            3,
            4,
            5,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.0520496139888542,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            2,
            5
          ],
          "train": [
            3,
            4,
            6,
            7
          ]
        },
        {
          "below_median": 1,
          "estimable": true,
          "oos_rank": 0.2,
          "oos_sharpe": -0.024417173898770312,
          "selected": "stop_1_8",
          "test": [
            0,
            1,
            2,
            4
          ],
          "train": [
            3,
            5,
            6,
            7
          ]
        },
        {
          "below_median": 0,
          "estimable": true,
          "oos_rank": 0.9,
          "oos_sharpe": -0.055806494549465055,
          "selected": "rsi_32",
          "test": [
            0,
            1,
            2,
            3
          ],
          "train": [
            4,
            5,
            6,
            7
          ]
        }
      ],
      "pbo": 0.32142857142857145,
      "walk_forward": [
        {
          "base_annual_log_excess": -0.4770818584400911,
          "estimable": true,
          "selected": "rsi_32",
          "selected_annual_log_excess": -0.4770818584400911,
          "test_block": 1
        },
        {
          "base_annual_log_excess": -0.979970782542893,
          "estimable": true,
          "selected": "rsi_48",
          "selected_annual_log_excess": -1.029592554159088,
          "test_block": 2
        },
        {
          "base_annual_log_excess": -0.293733467808518,
          "estimable": true,
          "selected": "rsi_32",
          "selected_annual_log_excess": -0.293733467808518,
          "test_block": 3
        },
        {
          "base_annual_log_excess": 0.6268257721126618,
          "estimable": true,
          "selected": "rsi_32",
          "selected_annual_log_excess": 0.6358384701521275,
          "test_block": 4
        },
        {
          "base_annual_log_excess": -0.10048128668828574,
          "estimable": true,
          "selected": "rsi_32",
          "selected_annual_log_excess": -0.10048128668828574,
          "test_block": 5
        },
        {
          "base_annual_log_excess": -0.22904548132517816,
          "estimable": true,
          "selected": "rsi_32",
          "selected_annual_log_excess": -0.22904548132517816,
          "test_block": 6
        },
        {
          "base_annual_log_excess": -0.7073872276985804,
          "estimable": true,
          "selected": "rsi_32",
          "selected_annual_log_excess": -0.7073872276985804,
          "test_block": 7
        }
      ]
    },
    "uncertainty": {
      "block_days": 30,
      "days": 1624,
      "lower": -0.5641532486226164,
      "metric": "annual_log_excess_not_profit_probability",
      "samples": 1000,
      "seed": 20261006,
      "upper": 0.05227204855918276
    }
  },
  "scenarios": {
    "adx_16": {
      "after_gap": {
        "annualized_excess": 0.07620945252870603,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.2979620009361156,
        "barriers": {
          "stop": 4
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 4,
        "expectancy_net_eur": -119.78233685567838,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": -0.002782269386072067,
            "annualized_volatility": 0.0038470058343888646,
            "average_market_exposure": 0.00042782310588081743,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.009974999560218412
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.005501087569919738
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.0005036057279662609
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999870528127
              },
              "2023": {
                "days": 365,
                "time_weighted_return": -0.004999999921032616
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.004999999636975838
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "130.6497742917676896275392411",
            "days": 2037,
            "final_value_eur": "43520.87065257728648966938679",
            "max_drawdown": -0.016216123375711766,
            "max_recovery_days": 1114,
            "money_weighted_return_xirr": -0.0031556734198236987,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-479.12934742271351033061321",
            "sharpe_zero_cash": -0.7219522512835,
            "simple_return_on_contributions": -0.010889303350516216,
            "sortino_zero_cash": -0.761366510316857,
            "time_weighted_return": -0.015421213784047483,
            "trade_days": 7,
            "trades": 8,
            "turnover_on_contributed_capital": 0.8483751577387513
          }
        },
        "signal_status": {
          "executed": 4,
          "regime_blocks_entry": 1
        },
        "signals": 5
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.14345645089225367,
        "barriers": {
          "stop": 1
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 1,
        "expectancy_net_eur": -54.999987353608425,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": -0.004485187398559076,
            "annualized_volatility": 0.004729184474449799,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.004999998850328091
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.004999998850328091
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "14.33066620535109936445173839",
            "days": 408,
            "final_value_eur": "16945.00001264639157619318780",
            "max_drawdown": -0.004999998850328091,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.0035891448811010123,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-54.99998735360842380681220",
            "sharpe_zero_cash": -0.9458371123704413,
            "simple_return_on_contributions": -0.003235293373741672,
            "sortino_zero_cash": -0.9458371123704414,
            "time_weighted_return": -0.004999998850328091,
            "trade_days": 1,
            "trades": 2,
            "turnover_on_contributed_capital": 0.2408515328630437
          }
        },
        "signal_status": {
          "executed": 1
        },
        "signals": 1
      }
    },
    "adx_24": {
      "after_gap": {
        "annualized_excess": 0.07620945252870603,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.29706548459979976,
        "barriers": {
          "stop": 3
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 3,
        "expectancy_net_eur": -108.52742377175765,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": -0.0018857530497562447,
            "annualized_volatility": 0.0032138868088461454,
            "average_market_exposure": 0.00042782310588081743,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.004999999905015318
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.005501087569919738
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.0005036057279662609
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999870528127
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.004999999905015318
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "81.68342665291775672106537754",
            "days": 2037,
            "final_value_eur": "43674.41772868472702072618534",
            "max_drawdown": -0.011272486149554672,
            "max_recovery_days": 1114,
            "money_weighted_return_xirr": -0.002140631624198387,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-325.58227131527297927381466",
            "sharpe_zero_cash": -0.5854061815046564,
            "simple_return_on_contributions": -0.007399597075347113,
            "sortino_zero_cash": -0.633251075149833,
            "time_weighted_return": -0.010473582037607954,
            "trade_days": 5,
            "trades": 6,
            "turnover_on_contributed_capital": 0.5304118613825828
          }
        },
        "signal_status": {
          "executed": 3
        },
        "signals": 3
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.14345645089225367,
        "barriers": {
          "stop": 1
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 1,
        "expectancy_net_eur": -54.999987353608425,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": -0.004485187398559076,
            "annualized_volatility": 0.004729184474449799,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.004999998850328091
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.004999998850328091
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "14.33066620535109936445173839",
            "days": 408,
            "final_value_eur": "16945.00001264639157619318780",
            "max_drawdown": -0.004999998850328091,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.0035891448811010123,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-54.99998735360842380681220",
            "sharpe_zero_cash": -0.9458371123704413,
            "simple_return_on_contributions": -0.003235293373741672,
            "sortino_zero_cash": -0.9458371123704414,
            "time_weighted_return": -0.004999998850328091,
            "trade_days": 1,
            "trades": 2,
            "turnover_on_contributed_capital": 0.2408515328630437
          }
        },
        "signal_status": {
          "executed": 1
        },
        "signals": 1
      }
    },
    "base": {
      "after_gap": {
        "annualized_excess": 0.07620945252870603,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.29706548459979976,
        "barriers": {
          "stop": 3
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 3,
        "expectancy_net_eur": -108.52742377175765,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": -0.0018857530497562447,
            "annualized_volatility": 0.0032138868088461454,
            "average_market_exposure": 0.00042782310588081743,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.004999999905015318
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.005501087569919738
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.0005036057279662609
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999870528127
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.004999999905015318
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "81.68342665291775672106537754",
            "days": 2037,
            "final_value_eur": "43674.41772868472702072618534",
            "max_drawdown": -0.011272486149554672,
            "max_recovery_days": 1114,
            "money_weighted_return_xirr": -0.002140631624198387,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-325.58227131527297927381466",
            "sharpe_zero_cash": -0.5854061815046564,
            "simple_return_on_contributions": -0.007399597075347113,
            "sortino_zero_cash": -0.633251075149833,
            "time_weighted_return": -0.010473582037607954,
            "trade_days": 5,
            "trades": 6,
            "turnover_on_contributed_capital": 0.5304118613825828
          }
        },
        "signal_status": {
          "executed": 3,
          "regime_blocks_entry": 1
        },
        "signals": 4
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.14345645089225367,
        "barriers": {
          "stop": 1
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 1,
        "expectancy_net_eur": -54.999987353608425,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": -0.004485187398559076,
            "annualized_volatility": 0.004729184474449799,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.004999998850328091
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.004999998850328091
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "14.33066620535109936445173839",
            "days": 408,
            "final_value_eur": "16945.00001264639157619318780",
            "max_drawdown": -0.004999998850328091,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.0035891448811010123,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-54.99998735360842380681220",
            "sharpe_zero_cash": -0.9458371123704413,
            "simple_return_on_contributions": -0.003235293373741672,
            "sortino_zero_cash": -0.9458371123704414,
            "time_weighted_return": -0.004999998850328091,
            "trade_days": 1,
            "trades": 2,
            "turnover_on_contributed_capital": 0.2408515328630437
          }
        },
        "signal_status": {
          "executed": 1
        },
        "signals": 1
      }
    },
    "delay_two_bars": {
      "after_gap": {
        "annualized_excess": 0.07620945252870603,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.29637213474212487,
        "barriers": {
          "stop": 2
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 2,
        "expectancy_net_eur": -75.20746275047011,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": -0.0011924031920813594,
            "annualized_volatility": 0.0028382438336758443,
            "average_market_exposure": 0.0004169864486651956,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.006633194290685429
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.0016414015300012519
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999767953289
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.0
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "40.71784063423051603344398069",
            "days": 2037,
            "final_value_eur": "43849.58507449905977923626478",
            "max_drawdown": -0.007290448666673499,
            "max_recovery_days": 1114,
            "money_weighted_return_xirr": -0.000986984330388553,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-150.41492550094022076373522",
            "sharpe_zero_cash": -0.41874347153495595,
            "simple_return_on_contributions": -0.0034185210341122776,
            "sortino_zero_cash": -0.48364604704285963,
            "time_weighted_return": -0.006633194290685429,
            "trade_days": 4,
            "trades": 4,
            "turnover_on_contributed_capital": 0.2644015625599384
          }
        },
        "signal_status": {
          "executed": 2,
          "price_invalidated": 1,
          "regime_blocks_entry": 1
        },
        "signals": 4
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.1389712634936946,
        "barriers": {},
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.0
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "0",
            "days": 408,
            "final_value_eur": "17000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": 6.310134463221389e-15,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {
          "price_invalidated": 1
        },
        "signals": 1
      }
    },
    "double_cost": {
      "after_gap": {
        "annualized_excess": 0.08097979005915179,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.08097979005915179,
            "annualized_volatility": 0.21521469995853856,
            "average_market_exposure": 0.4987248533428219,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.11124661221133758
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13342280444378707
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07982680106571016
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09406468049797645
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.023164830619580412
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "121.674754181400",
            "days": 329,
            "final_value_eur": "15773.631440938600",
            "max_drawdown": -0.24186903314991037,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.019195883946819425,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-226.368559061400",
            "sharpe_zero_cash": -0.2838034677226773,
            "simple_return_on_contributions": -0.0141480349413375,
            "sortino_zero_cash": -0.4054291153707372,
            "time_weighted_return": -0.07307884226941574,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0863817337625
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.1951056682114478,
            "annualized_volatility": 0.43674396955263495,
            "average_market_exposure": 0.9969604505834483,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22805609347788158
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.26962624689519643
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.16047724586433665
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18442876425284493
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.008863027982757066
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "218.067721632530",
            "days": 329,
            "final_value_eur": "15156.908256277470",
            "max_drawdown": -0.44175384016892694,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.07117988481968497,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-843.091743722530",
            "sharpe_zero_cash": -0.27715431434135046,
            "simple_return_on_contributions": -0.05269323398265813,
            "sortino_zero_cash": -0.39677753013930483,
            "time_weighted_return": -0.1772003335684873,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.947033228861875
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.2943598644781835,
        "barriers": {
          "stop": 3
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 3,
        "expectancy_net_eur": -109.07504963960332,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2924503436710333,
            "annualized_volatility": 0.3126182380399163,
            "average_market_exposure": 0.5032289144234923,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.12142364654374926
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.653310827927333
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15784248322955308
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.0901731430495869
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0640752878799073
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41077652013225063
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.3541345750718444
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6229212376885918
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5938597241191468
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.054974302751055415
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1315.1377949161340",
            "days": 2037,
            "final_value_eur": "115860.7084300138660",
            "max_drawdown": -0.4574763808036192,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2847571257903184,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "71860.7084300138660",
            "sharpe_zero_cash": 0.9775508704372476,
            "simple_return_on_contributions": 1.6331979188639516,
            "sortino_zero_cash": 1.4393646069457495,
            "time_weighted_return": 3.1828828732020886,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.269927905571864
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.5147827743907263,
            "annualized_volatility": 0.6302180535358356,
            "average_market_exposure": 0.9992250348446906,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.3332104603308974
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.954001695782438
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.36519218428482325
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.1805159073084871
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6910653159834426
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7167584387398498
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6207899616668434
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.488606866013538
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.3444726667554416
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11747630207388238
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1994.1127977892310",
            "days": 2037,
            "final_value_eur": "239490.8628421777690",
            "max_drawdown": -0.7361233319146078,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.5143674015989252,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "195490.8628421777690",
            "sharpe_zero_cash": 0.9794646159752542,
            "simple_return_on_contributions": 4.44297415550404,
            "sortino_zero_cash": 1.441426160938338,
            "time_weighted_return": 9.13932675933788,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.474392200614386
          },
          "candidate": {
            "annualized_time_weighted_return": -0.0019095208071502334,
            "annualized_volatility": 0.003000125956058322,
            "average_market_exposure": 0.00034797693281598185,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.004999999655320608
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.005633178902261116
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.0006363607527311022
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999953263834
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.004999999655320608
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "131.2388287938774726632707822",
            "days": 2037,
            "final_value_eur": "43672.77485108119005066112669",
            "max_drawdown": -0.010605012665012015,
            "max_recovery_days": 1918,
            "money_weighted_return_xirr": -0.0021514733002213496,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-327.22514891880994933887331",
            "sharpe_zero_cash": -0.6352715965240882,
            "simple_return_on_contributions": -0.007436935202700226,
            "sortino_zero_cash": -0.6729847183170481,
            "time_weighted_return": -0.010605012665012015,
            "trade_days": 5,
            "trades": 6,
            "turnover_on_contributed_capital": 0.42610009348661515
          }
        },
        "signal_status": {
          "executed": 3,
          "regime_blocks_entry": 1
        },
        "signals": 4
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.1384863301946787,
        "barriers": {
          "stop": 1
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 1,
        "expectancy_net_eur": -54.99997964564017,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1340011434248587,
            "annualized_volatility": 0.2589357769592121,
            "average_market_exposure": 0.5010974969816905,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.06334415464662702
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1418492673703462
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.07574406674374945
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2176295919189999
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.05510708934119868
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "145.534913604290",
            "days": 408,
            "final_value_eur": "19211.598481885710",
            "max_drawdown": -0.17086736847291462,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1440532250208785,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2211.598481885710",
            "sharpe_zero_cash": 0.6132838419000836,
            "simple_return_on_contributions": 0.13009402834621825,
            "sortino_zero_cash": 0.9236605741335926,
            "time_weighted_return": 0.1505295692126316,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2229824672629412
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22056962299787486,
            "annualized_volatility": 0.5191850376582152,
            "average_market_exposure": 0.9975489930445889,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12673804392262045
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.24865922537681673
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.14534074192534585
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.41596311256619245
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.1179946070328245
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "264.391896249390",
            "days": 408,
            "final_value_eur": "20742.224915380610",
            "max_drawdown": -0.31952393842480964,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.24343421986284047,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3742.224915380610",
            "sharpe_zero_cash": 0.6404188966434632,
            "simple_return_on_contributions": 0.22013087737533,
            "sortino_zero_cash": 0.96811463691136,
            "time_weighted_return": 0.2488871015259697,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.2217806407511764
          },
          "candidate": {
            "annualized_time_weighted_return": -0.004485186769820015,
            "annualized_volatility": 0.0047291838116786675,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.004999998149603613
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.004999998149603613
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "22.73702349949699779290941408",
            "days": 408,
            "final_value_eur": "16945.00002035435982976557831",
            "max_drawdown": -0.004999998149603613,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.0035891443780838514,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-54.99997964564017023442169",
            "sharpe_zero_cash": -0.9458371123704414,
            "simple_return_on_contributions": -0.0032352929203317746,
            "sortino_zero_cash": -0.9458371123704414,
            "time_weighted_return": -0.004999998149603613,
            "trade_days": 1,
            "trades": 2,
            "turnover_on_contributed_capital": 0.191067424365521
          }
        },
        "signal_status": {
          "executed": 1
        },
        "signals": 1
      }
    },
    "hold_24": {
      "after_gap": {
        "annualized_excess": 0.07620945252870603,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.29623559973846125,
        "barriers": {
          "stop": 2,
          "time": 1
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 3,
        "expectancy_net_eur": -68.66697526740155,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": -0.0010558681884177412,
            "annualized_volatility": 0.0026933866646521856,
            "average_market_exposure": 0.00034443796988396926,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.004999999960861867
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.0008799019877031578
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.0005036057279662609
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.00037648586017247077
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.004999999960861867
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "82.26211453357579900067127162",
            "days": 2037,
            "final_value_eur": "43793.99907419779534404826347",
            "max_drawdown": -0.006678118856446202,
            "max_recovery_days": 1114,
            "money_weighted_return_xirr": -0.001352575920258843,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-206.00092580220465595173653",
            "sharpe_zero_cash": -0.3906878267950019,
            "simple_return_on_contributions": -0.004681839222777378,
            "sortino_zero_cash": -0.43893036431904014,
            "time_weighted_return": -0.005875502438660973,
            "trade_days": 5,
            "trades": 6,
            "turnover_on_contributed_capital": 0.5341695748933494
          }
        },
        "signal_status": {
          "executed": 3,
          "regime_blocks_entry": 1
        },
        "signals": 4
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.14345645089225367,
        "barriers": {
          "stop": 1
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 1,
        "expectancy_net_eur": -54.999987353608425,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": -0.004485187398559076,
            "annualized_volatility": 0.004729184474449799,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.004999998850328091
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.004999998850328091
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "14.33066620535109936445173839",
            "days": 408,
            "final_value_eur": "16945.00001264639157619318780",
            "max_drawdown": -0.004999998850328091,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.0035891448811010123,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-54.99998735360842380681220",
            "sharpe_zero_cash": -0.9458371123704413,
            "simple_return_on_contributions": -0.003235293373741672,
            "sortino_zero_cash": -0.9458371123704414,
            "time_weighted_return": -0.004999998850328091,
            "trade_days": 1,
            "trades": 2,
            "turnover_on_contributed_capital": 0.2408515328630437
          }
        },
        "signal_status": {
          "executed": 1
        },
        "signals": 1
      }
    },
    "hold_36": {
      "after_gap": {
        "annualized_excess": 0.07620945252870603,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.29706548459979976,
        "barriers": {
          "stop": 3
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 3,
        "expectancy_net_eur": -108.52742377175765,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": -0.0018857530497562447,
            "annualized_volatility": 0.0032138868088461454,
            "average_market_exposure": 0.00042782310588081743,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.004999999905015318
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.005501087569919738
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.0005036057279662609
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999870528127
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.004999999905015318
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "81.68342665291775672106537754",
            "days": 2037,
            "final_value_eur": "43674.41772868472702072618534",
            "max_drawdown": -0.011272486149554672,
            "max_recovery_days": 1114,
            "money_weighted_return_xirr": -0.002140631624198387,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-325.58227131527297927381466",
            "sharpe_zero_cash": -0.5854061815046564,
            "simple_return_on_contributions": -0.007399597075347113,
            "sortino_zero_cash": -0.633251075149833,
            "time_weighted_return": -0.010473582037607954,
            "trade_days": 5,
            "trades": 6,
            "turnover_on_contributed_capital": 0.5304118613825828
          }
        },
        "signal_status": {
          "executed": 3,
          "regime_blocks_entry": 1
        },
        "signals": 4
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.14345645089225367,
        "barriers": {
          "stop": 1
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 1,
        "expectancy_net_eur": -54.999987353608425,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": -0.004485187398559076,
            "annualized_volatility": 0.004729184474449799,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.004999998850328091
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.004999998850328091
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "14.33066620535109936445173839",
            "days": 408,
            "final_value_eur": "16945.00001264639157619318780",
            "max_drawdown": -0.004999998850328091,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.0035891448811010123,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-54.99998735360842380681220",
            "sharpe_zero_cash": -0.9458371123704413,
            "simple_return_on_contributions": -0.003235293373741672,
            "sortino_zero_cash": -0.9458371123704414,
            "time_weighted_return": -0.004999998850328091,
            "trade_days": 1,
            "trades": 2,
            "turnover_on_contributed_capital": 0.2408515328630437
          }
        },
        "signal_status": {
          "executed": 1
        },
        "signals": 1
      }
    },
    "miss_each_10th": {
      "after_gap": {
        "annualized_excess": 0.07740903012941569,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07740903012941569,
            "annualized_volatility": 0.21504046148294928,
            "average_market_exposure": 0.49829955368906304,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10902315483374914
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13478872180374069
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.08002763114507727
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.024871898287970762
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.416563475730",
            "days": 329,
            "final_value_eur": "15815.955311444270",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.01561147723335932,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-184.044688555730",
            "sharpe_zero_cash": -0.26622671442875107,
            "simple_return_on_contributions": -0.011502793034733125,
            "sortino_zero_cash": -0.380184538544178,
            "time_weighted_return": -0.06984309977468284,
            "trade_days": 12,
            "trades": 12,
            "turnover_on_contributed_capital": 1.07886720492375
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.19563155127787113,
            "annualized_volatility": 0.4351244057648059,
            "average_market_exposure": 0.9927190534054559,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22531322466062897
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2672187764047149
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.16235250009772761
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.004581761888014624
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "108.943038766450",
            "days": 329,
            "final_value_eur": "15129.249987993550",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.0735002399096202,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-870.750012006450",
            "sharpe_zero_cash": -0.2812236217255068,
            "simple_return_on_contributions": -0.05442187575040312,
            "sortino_zero_cash": -0.4014860127881095,
            "time_weighted_return": -0.1776834366290554,
            "trade_days": 12,
            "trades": 12,
            "turnover_on_contributed_capital": 1.94541140654375
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.2948062429708691,
        "barriers": {
          "stop": 3
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 3,
        "expectancy_net_eur": -108.52742377175765,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.29292048992111286,
            "annualized_volatility": 0.3125278246066844,
            "average_market_exposure": 0.5024589471775587,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.12291389876841619
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.658756029996088
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15551182555616994
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0671535433172048
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.40966624514788386
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35370664602806146
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6155670956175445
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5954983995887435
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.05296028976120837
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "633.7599104968915",
            "days": 2037,
            "final_value_eur": "116045.8789765981085",
            "max_drawdown": -0.45827671286218385,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2852428978632393,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72045.8789765981085",
            "sharpe_zero_cash": 0.9789156532554847,
            "simple_return_on_contributions": 1.6374063403772297,
            "sortino_zero_cash": 1.4409690544556328,
            "time_weighted_return": 3.191377442298828,
            "trade_days": 63,
            "trades": 63,
            "turnover_on_contributed_capital": 4.1153240941356595
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.5166225770288249,
            "annualized_volatility": 0.6298141207444248,
            "average_market_exposure": 0.997969711189719,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.3297719485974564
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.980184340882754
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.36485258148667
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6877410064116094
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7174964237290016
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206080620078973
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4855234220089808
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.3455537717703185
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434184273421888
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "998.6157491751980",
            "days": 2037,
            "final_value_eur": "240627.0959737968020",
            "max_drawdown": -0.7362177299005345,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.5159293627445094,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "196627.0959737968020",
            "sharpe_zero_cash": 0.9816296152995999,
            "simple_return_on_contributions": 4.468797635768109,
            "sortino_zero_cash": 1.4445015675085031,
            "time_weighted_return": 9.208211400328855,
            "trade_days": 63,
            "trades": 63,
            "turnover_on_contributed_capital": 6.484517851787
          },
          "candidate": {
            "annualized_time_weighted_return": -0.0018857530497562447,
            "annualized_volatility": 0.0032138868088461454,
            "average_market_exposure": 0.00042782310588081743,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.004999999905015318
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.005501087569919738
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.0005036057279662609
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999870528127
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.004999999905015318
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "81.68342665291775672106537754",
            "days": 2037,
            "final_value_eur": "43674.41772868472702072618534",
            "max_drawdown": -0.011272486149554672,
            "max_recovery_days": 1114,
            "money_weighted_return_xirr": -0.002140631624198387,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-325.58227131527297927381466",
            "sharpe_zero_cash": -0.5854061815046564,
            "simple_return_on_contributions": -0.007399597075347113,
            "sortino_zero_cash": -0.633251075149833,
            "time_weighted_return": -0.010473582037607954,
            "trade_days": 5,
            "trades": 6,
            "turnover_on_contributed_capital": 0.5304118613825828
          }
        },
        "signal_status": {
          "executed": 3,
          "regime_blocks_entry": 1
        },
        "signals": 4
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.1428047339326609,
        "barriers": {
          "stop": 1
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 1,
        "expectancy_net_eur": -54.999987353608425,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.13831954653410183,
            "annualized_volatility": 0.2611559963720592,
            "average_market_exposure": 0.5064436210251105,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.06140511513022895
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.14400986859041165
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.07604510299601586
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.22027226411088585
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.05314889768112574
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "70.824416020330",
            "days": 408,
            "final_value_eur": "19277.835300159670",
            "max_drawdown": -0.17347511590548037,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.14835930214687787,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2277.835300159670",
            "sharpe_zero_cash": 0.6247946007519373,
            "simple_return_on_contributions": 0.13399031177409823,
            "sortino_zero_cash": 0.9412327060488348,
            "time_weighted_return": 0.15541613840254165,
            "trade_days": 14,
            "trades": 14,
            "turnover_on_contributed_capital": 1.1903263196694118
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.230262464431654,
            "annualized_volatility": 0.5191453868303603,
            "average_market_exposure": 0.9958474127396051,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333182116647678
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.2543595374978065
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.14576724567920252
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.42313841720468304
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.1146672301828654
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.674010240485",
            "days": 408,
            "final_value_eur": "20892.772170849515",
            "max_drawdown": -0.3193589817482808,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25319476369379856,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3892.772170849515",
            "sharpe_zero_cash": 0.6556172194792969,
            "simple_return_on_contributions": 0.22898659828526557,
            "sortino_zero_cash": 0.9923417952791281,
            "time_weighted_return": 0.25995107673699547,
            "trade_days": 14,
            "trades": 14,
            "turnover_on_contributed_capital": 2.2298152981594117
          },
          "candidate": {
            "annualized_time_weighted_return": -0.004485187398559076,
            "annualized_volatility": 0.004729184474449799,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.004999998850328091
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.004999998850328091
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "14.33066620535109936445173839",
            "days": 408,
            "final_value_eur": "16945.00001264639157619318780",
            "max_drawdown": -0.004999998850328091,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.0035891448811010123,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-54.99998735360842380681220",
            "sharpe_zero_cash": -0.9458371123704413,
            "simple_return_on_contributions": -0.003235293373741672,
            "sortino_zero_cash": -0.9458371123704414,
            "time_weighted_return": -0.004999998850328091,
            "trade_days": 1,
            "trades": 2,
            "turnover_on_contributed_capital": 0.2408515328630437
          }
        },
        "signal_status": {
          "executed": 1
        },
        "signals": 1
      }
    },
    "rsi_32": {
      "after_gap": {
        "annualized_excess": 0.07620945252870603,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.2951797315500435,
        "barriers": {},
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 0.0
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.0
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "0",
            "days": 2037,
            "final_value_eur": "44000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -6.356976407003555e-16,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.1389712634936946,
        "barriers": {},
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.0
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "0",
            "days": 408,
            "final_value_eur": "17000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": 6.310134463221389e-15,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      }
    },
    "rsi_48": {
      "after_gap": {
        "annualized_excess": 0.06647924558666474,
        "barriers": {
          "stop": 2,
          "target": 1
        },
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 3,
        "expectancy_net_eur": -42.77460929194192,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": -0.009730206942041297,
            "annualized_volatility": 0.006896773608270594,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": -0.004999999234729935
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.003767020797644016
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": -0.008748184931268499
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "61.06365186772163549806664181",
            "days": 329,
            "final_value_eur": "15871.67617212417422109240245",
            "max_drawdown": -0.009194850599754667,
            "max_recovery_days": 145,
            "money_weighted_return_xirr": -0.010889226009484908,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-128.32382787582577890759755",
            "sharpe_zero_cash": -1.4099666327062217,
            "simple_return_on_contributions": -0.008020239242239111,
            "sortino_zero_cash": -1.4116143054764847,
            "time_weighted_return": -0.008748184931268499,
            "trade_days": 4,
            "trades": 6,
            "turnover_on_contributed_capital": 1.0904223547807435
          }
        },
        "signal_status": {
          "executed": 3,
          "position_or_exit_in_progress": 1,
          "price_invalidated": 1,
          "regime_blocks_entry": 6
        },
        "signals": 11
      },
      "before_gap": {
        "annualized_excess": -0.30486070847010505,
        "barriers": {
          "stop": 15,
          "target": 10,
          "time": 3
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 28,
        "expectancy_net_eur": -50.517891558829426,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": -0.009680976920061535,
            "annualized_volatility": 0.009482351840362018,
            "average_market_exposure": 0.0030839553431060945,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.042916537314436565
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.010345808538498091
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 0.00846929098694127
              },
              "2021": {
                "days": 365,
                "time_weighted_return": -0.043427367292525165
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999656524645
              },
              "2023": {
                "days": 365,
                "time_weighted_return": -0.000848359713526925
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.011820566618467199
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.0005470516896620703
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "742.5865759535802468439602454",
            "days": 2037,
            "final_value_eur": "42585.49903635277599428753843",
            "max_drawdown": -0.06084977335826214,
            "max_recovery_days": 1562,
            "money_weighted_return_xirr": -0.009417034736762923,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-1414.50096364722400571246157",
            "sharpe_zero_cash": -1.0206540081617008,
            "simple_return_on_contributions": -0.03214774917380055,
            "sortino_zero_cash": -1.1367612862393897,
            "time_weighted_return": -0.05281833957474458,
            "trade_days": 49,
            "trades": 56,
            "turnover_on_contributed_capital": 4.821990752945326
          }
        },
        "signal_status": {
          "executed": 28,
          "position_or_exit_in_progress": 4,
          "regime_blocks_entry": 6
        },
        "signals": 38
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.15375349190198628,
        "barriers": {
          "stop": 3,
          "time": 2
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 5,
        "expectancy_net_eur": -43.442581998688176,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": -0.014782228408291687,
            "annualized_volatility": 0.010283815792948273,
            "average_market_exposure": 0.0036916752737103423,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.011654372178923844
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": -0.004871519217237497
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.01593078029191497
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.0005470515644941942
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "82.22242112374606819059622833",
            "days": 408,
            "final_value_eur": "16782.78709000655912912261187",
            "max_drawdown": -0.016549588161847595,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.014176545191088158,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-217.21290999344087087738813",
            "sharpe_zero_cash": -1.4394318014488876,
            "simple_return_on_contributions": -0.012777229999614169,
            "sortino_zero_cash": -1.525093417012638,
            "time_weighted_return": -0.0164691168981268,
            "trade_days": 9,
            "trades": 10,
            "turnover_on_contributed_capital": 1.3818894306511944
          }
        },
        "signal_status": {
          "executed": 5,
          "position_or_exit_in_progress": 1,
          "regime_blocks_entry": 1
        },
        "signals": 7
      }
    },
    "stop_1_2": {
      "after_gap": {
        "annualized_excess": 0.07620945252870603,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.2970504789703674,
        "barriers": {
          "stop": 3
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 3,
        "expectancy_net_eur": -108.18164923569522,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": -0.0018707474203238927,
            "annualized_volatility": 0.003295007576607256,
            "average_market_exposure": 0.0003127503800131794,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.0049999996658404156
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.005417685489325863
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.00041978462928227156
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999783099063
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.0049999996658404156
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "96.99301586258023091724890264",
            "days": 2037,
            "final_value_eur": "43675.45505229291431686815185",
            "max_drawdown": -0.010390596729530022,
            "max_recovery_days": 1918,
            "money_weighted_return_xirr": -0.0021337863279819146,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-324.54494770708568313184815",
            "sharpe_zero_cash": -0.5663528625572385,
            "simple_return_on_contributions": -0.007376021538797402,
            "sortino_zero_cash": -0.6098791081693261,
            "time_weighted_return": -0.010390596729530022,
            "trade_days": 5,
            "trades": 6,
            "turnover_on_contributed_capital": 0.6298247783284431
          }
        },
        "signal_status": {
          "executed": 3,
          "regime_blocks_entry": 1
        },
        "signals": 4
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.14345645172341315,
        "barriers": {
          "stop": 1
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 1,
        "expectancy_net_eur": -54.999997543134505,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": -0.004485188229718551,
            "annualized_volatility": 0.004729185350598155,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.004999999776648556
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.004999999776648556
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "16.86871623939691844107639941",
            "days": 408,
            "final_value_eur": "16945.00000245686549329503772",
            "max_drawdown": -0.004999999776648556,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.0035891455460810868,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-54.99999754313450670496228",
            "sharpe_zero_cash": -0.9458371123704413,
            "simple_return_on_contributions": -0.003235293973125559,
            "sortino_zero_cash": -0.9458371123704413,
            "time_weighted_return": -0.004999999776648556,
            "trade_days": 1,
            "trades": 2,
            "turnover_on_contributed_capital": 0.28350783595625073
          }
        },
        "signal_status": {
          "executed": 1
        },
        "signals": 1
      }
    },
    "stop_1_8": {
      "after_gap": {
        "annualized_excess": 0.07620945252870603,
        "barriers": {},
        "days": 329,
        "drawdown_not_worse": true,
        "episodes": 0,
        "expectancy_net_eur": null,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": -0.07620945252870603,
            "annualized_volatility": 0.215269492373846,
            "average_market_exposure": 0.4988269350293653,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.10889238289582537
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.13559484544922018
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.07974167760899331
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.09241642611225209
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.026069303390307663
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "60.967877482820",
            "days": 329,
            "final_value_eur": "15833.213920537180",
            "max_drawdown": -0.2413262135954023,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.014149233349825947,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-166.786079462820",
            "sharpe_zero_cash": -0.259704296482059,
            "simple_return_on_contributions": -0.01042412996642625,
            "sortino_zero_cash": -0.37118619034981765,
            "time_weighted_return": -0.06875635457251306,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.0887120979075
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": -0.18709091065847694,
            "annualized_volatility": 0.4368044778933279,
            "average_market_exposure": 0.9969604489234197,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": -0.22433719853395906
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.2744190024747495
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": -0.160200118867053
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": -0.18143391153600197
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.014161834729271794
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "109.414151966000",
            "days": 329,
            "final_value_eur": "15263.381858974000",
            "max_drawdown": -0.4410313124858316,
            "max_recovery_days": 328,
            "money_weighted_return_xirr": -0.062238511189570384,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "-736.618141026000",
            "sharpe_zero_cash": -0.2544512863653287,
            "simple_return_on_contributions": -0.046038633814125,
            "sortino_zero_cash": -0.3644260454655214,
            "time_weighted_return": -0.16984151387618662,
            "trade_days": 13,
            "trades": 13,
            "turnover_on_contributed_capital": 1.95382414225
          },
          "candidate": {
            "annualized_time_weighted_return": 0.0,
            "annualized_volatility": 0.0,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 202,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 46,
                "time_weighted_return": 0.0
              },
              "neutral": {
                "days": 81,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2025": {
                "days": 52,
                "time_weighted_return": 0.0
              },
              "2026": {
                "days": 277,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "16000",
            "costs_eur": "0",
            "days": 329,
            "final_value_eur": "16000",
            "max_drawdown": 0.0,
            "max_recovery_days": 0,
            "money_weighted_return_xirr": -7.5815297446221e-15,
            "period_end": "2026-10-04",
            "period_start": "2025-11-10",
            "result_eur": "0",
            "sharpe_zero_cash": null,
            "simple_return_on_contributions": 0.0,
            "sortino_zero_cash": null,
            "time_weighted_return": 0.0,
            "trade_days": 0,
            "trades": 0,
            "turnover_on_contributed_capital": 0.0
          }
        },
        "signal_status": {},
        "signals": 0
      },
      "before_gap": {
        "annualized_excess": -0.2970804911047207,
        "barriers": {
          "stop": 3
        },
        "days": 2037,
        "drawdown_not_worse": true,
        "episodes": 3,
        "expectancy_net_eur": -108.87318911340519,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.2951797315500435,
            "annualized_volatility": 0.3126393495851738,
            "average_market_exposure": 0.5032203736062517,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.11740553299113876
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 4.676034811175008
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.15514935128908924
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.08830728806815624
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 1.0673581913164902
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.41348743104931085
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.35302691015945875
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.6246216495888626
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 0.5959649338659627
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.052960199367609206
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "661.7310611154075",
            "days": 2037,
            "final_value_eur": "116860.9305043195925",
            "max_drawdown": -0.45650597442500085,
            "max_recovery_days": 839,
            "money_weighted_return_xirr": 0.2873727667033558,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "72860.9305043195925",
            "sharpe_zero_cash": 0.9842548403469757,
            "simple_return_on_contributions": 1.6559302387345363,
            "sortino_zero_cash": 1.4496006543215156,
            "time_weighted_return": 3.232395000732664,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 4.296954942307841
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.517442692366763,
            "annualized_volatility": 0.6302571221421382,
            "average_market_exposure": 0.9992142000026708,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": -0.330174608233342
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": 22.97976919594399
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.3625403769172634
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": -0.17723478418290406
              },
              "2020": {
                "days": 366,
                "time_weighted_return": 2.6956505042892993
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.7171835470444294
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.6206671518817546
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 1.4893666517984747
              },
              "2024": {
                "days": 366,
                "time_weighted_return": 1.344770166356136
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11434178898929026
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "1000.5380262102225",
            "days": 2037,
            "final_value_eur": "241174.3961631547775",
            "max_drawdown": -0.7360446255688899,
            "max_recovery_days": 846,
            "money_weighted_return_xirr": 0.516679432354966,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "197174.3961631547775",
            "sharpe_zero_cash": 0.9822269476646883,
            "simple_return_on_contributions": 4.481236276435336,
            "sortino_zero_cash": 1.4456637246347332,
            "time_weighted_return": 9.239041119319548,
            "trade_days": 69,
            "trades": 69,
            "turnover_on_contributed_capital": 6.49700017019625
          },
          "candidate": {
            "annualized_time_weighted_return": -0.0019007595546771672,
            "annualized_volatility": 0.00309850251178141,
            "average_market_exposure": 0.00036572466970381513,
            "by_regime": {
              "contraccion": {
                "days": 662,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 994,
                "time_weighted_return": -0.004999999731580496
              },
              "neutral": {
                "days": 381,
                "time_weighted_return": -0.005584489188326769
              }
            },
            "by_year": {
              "2019": {
                "days": 98,
                "time_weighted_return": 0.0
              },
              "2020": {
                "days": 366,
                "time_weighted_return": -0.0005874268266502503
              },
              "2021": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2022": {
                "days": 365,
                "time_weighted_return": -0.004999999495513663
              },
              "2023": {
                "days": 365,
                "time_weighted_return": 0.0
              },
              "2024": {
                "days": 366,
                "time_weighted_return": -0.004999999731580496
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "44000",
            "costs_eur": "70.58459943897164637704567668",
            "days": 2037,
            "final_value_eur": "43673.38043265978446135029051",
            "max_drawdown": -0.011080312582614993,
            "max_recovery_days": 1114,
            "money_weighted_return_xirr": -0.002147476899828281,
            "period_end": "2025-04-22",
            "period_start": "2019-09-25",
            "result_eur": "-326.61956734021553864970949",
            "sharpe_zero_cash": -0.6121732965848685,
            "simple_return_on_contributions": -0.007423171985004899,
            "sortino_zero_cash": -0.6500823591365094,
            "time_weighted_return": -0.010556566475464657,
            "trade_days": 5,
            "trades": 6,
            "turnover_on_contributed_capital": 0.4583415547985172
          }
        },
        "signal_status": {
          "executed": 3,
          "regime_blocks_entry": 1
        },
        "signals": 4
      },
      "reserved_tail_before_gap": {
        "annualized_excess": -0.14345645171984645,
        "barriers": {
          "stop": 1
        },
        "days": 408,
        "drawdown_not_worse": true,
        "episodes": 1,
        "expectancy_net_eur": -54.99999749940817,
        "portfolios": {
          "btc_50_eur_50": {
            "annualized_time_weighted_return": 0.1389712634936946,
            "annualized_volatility": 0.2592540603713672,
            "average_market_exposure": 0.5011652558675646,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.0614050919209167
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.1447401537935029
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0760451521784884
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.2208933891658813
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.053026417740113296
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "72.956464852845",
            "days": 408,
            "final_value_eur": "19288.970502297155",
            "max_drawdown": -0.17058751606289513,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.1490831572689127,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "2288.970502297155",
            "sharpe_zero_cash": 0.6296764180935456,
            "simple_return_on_contributions": 0.13464532366453852,
            "sortino_zero_cash": 0.9495080012454264,
            "time_weighted_return": 0.15615378629582843,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 1.2261590731570589
          },
          "btc_buy_hold": {
            "annualized_time_weighted_return": 0.22998006823801487,
            "annualized_volatility": 0.5197005121971957,
            "average_market_exposure": 0.9975489955331267,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": -0.12333183943859027
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": 0.25403853547574307
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.1457672215126653
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": 0.4226679140214362
              },
              "2025": {
                "days": 112,
                "time_weighted_return": -0.11460111066507661
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "132.657018107180",
            "days": 408,
            "final_value_eur": "20887.933904812820",
            "max_drawdown": -0.3193590235160372,
            "max_recovery_days": 229,
            "money_weighted_return_xirr": 0.25288112051333433,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "3887.933904812820",
            "sharpe_zero_cash": 0.6550293007252094,
            "simple_return_on_contributions": 0.22870199440075412,
            "sortino_zero_cash": 0.991332850770419,
            "time_weighted_return": 0.25962859096701063,
            "trade_days": 15,
            "trades": 15,
            "turnover_on_contributed_capital": 2.229529716087059
          },
          "candidate": {
            "annualized_time_weighted_return": -0.004485188226151848,
            "annualized_volatility": 0.004729185346838338,
            "average_market_exposure": 0.0,
            "by_regime": {
              "contraccion": {
                "days": 108,
                "time_weighted_return": 0.0
              },
              "expansion": {
                "days": 209,
                "time_weighted_return": -0.0049999997726735135
              },
              "neutral": {
                "days": 91,
                "time_weighted_return": 0.0
              }
            },
            "by_year": {
              "2024": {
                "days": 296,
                "time_weighted_return": -0.0049999997726735135
              },
              "2025": {
                "days": 112,
                "time_weighted_return": 0.0
              }
            },
            "capital_contributed_eur": "17000",
            "costs_eur": "12.44993823744312233778181627",
            "days": 408,
            "final_value_eur": "16945.00000250059183131416569",
            "max_drawdown": -0.0049999997726735135,
            "max_recovery_days": 386,
            "money_weighted_return_xirr": -0.0035891455432194037,
            "period_end": "2025-04-22",
            "period_start": "2024-03-11",
            "result_eur": "-54.99999749940816868583431",
            "sharpe_zero_cash": -0.9458371123704413,
            "simple_return_on_contributions": -0.0032352939705534217,
            "sortino_zero_cash": -0.9458371123704413,
            "time_weighted_return": -0.0049999997726735135,
            "trade_days": 1,
            "trades": 2,
            "turnover_on_contributed_capital": 0.20924265945282558
          }
        },
        "signal_status": {
          "executed": 1
        },
        "signals": 1
      }
    }
  },
  "base_portfolios": {
    "after_gap": {
      "btc_50_eur_50": {
        "after_fixed_cost_eur": "14633.213920537180",
        "annualized_time_weighted_return": -0.07620945252870603,
        "annualized_volatility": 0.215269492373846,
        "average_market_exposure": 0.4988269350293653,
        "by_regime": {
          "contraccion": {
            "days": 202,
            "time_weighted_return": -0.10889238289582537
          },
          "expansion": {
            "days": 46,
            "time_weighted_return": 0.13559484544922018
          },
          "neutral": {
            "days": 81,
            "time_weighted_return": -0.07974167760899331
          }
        },
        "by_year": {
          "2025": {
            "days": 52,
            "time_weighted_return": -0.09241642611225209
          },
          "2026": {
            "days": 277,
            "time_weighted_return": 0.026069303390307663
          }
        },
        "capital_contributed_eur": "16000",
        "costs_eur": "60.967877482820",
        "curve": [
          {
            "date": "2025-11-30",
            "value_eur": "9747.810951443745"
          },
          {
            "date": "2025-12-31",
            "value_eur": "10018.436119529770"
          },
          {
            "date": "2026-01-31",
            "value_eur": "9958.610111254770"
          },
          {
            "date": "2026-02-28",
            "value_eur": "9689.207744894190"
          },
          {
            "date": "2026-03-31",
            "value_eur": "10381.770572041765"
          },
          {
            "date": "2026-04-30",
            "value_eur": "11445.430753575275"
          },
          {
            "date": "2026-05-31",
            "value_eur": "11770.641925410665"
          },
          {
            "date": "2026-06-30",
            "value_eur": "11116.968846777785"
          },
          {
            "date": "2026-07-31",
            "value_eur": "11976.093033188635"
          },
          {
            "date": "2026-08-31",
            "value_eur": "13978.268381590515"
          },
          {
            "date": "2026-09-30",
            "value_eur": "15134.690490317315"
          },
          {
            "date": "2026-10-04",
            "value_eur": "15833.213920537180"
          }
        ],
        "days": 329,
        "final_value_eur": "15833.213920537180",
        "max_drawdown": -0.2413262135954023,
        "max_recovery_days": 328,
        "money_weighted_return_xirr": -0.014149233349825947,
        "period_end": "2026-10-04",
        "period_start": "2025-11-10",
        "result_eur": "-166.786079462820",
        "sharpe_zero_cash": -0.259704296482059,
        "simple_return_on_contributions": -0.01042412996642625,
        "sortino_zero_cash": -0.37118619034981765,
        "time_weighted_return": -0.06875635457251306,
        "trade_days": 13,
        "trades": 13,
        "turnover_on_contributed_capital": 1.0887120979075
      },
      "btc_buy_hold": {
        "after_fixed_cost_eur": "14063.381858974000",
        "annualized_time_weighted_return": -0.18709091065847694,
        "annualized_volatility": 0.4368044778933279,
        "average_market_exposure": 0.9969604489234197,
        "by_regime": {
          "contraccion": {
            "days": 202,
            "time_weighted_return": -0.22433719853395906
          },
          "expansion": {
            "days": 46,
            "time_weighted_return": 0.2744190024747495
          },
          "neutral": {
            "days": 81,
            "time_weighted_return": -0.160200118867053
          }
        },
        "by_year": {
          "2025": {
            "days": 52,
            "time_weighted_return": -0.18143391153600197
          },
          "2026": {
            "days": 277,
            "time_weighted_return": 0.014161834729271794
          }
        },
        "capital_contributed_eur": "16000",
        "costs_eur": "109.414151966000",
        "curve": [
          {
            "date": "2025-11-30",
            "value_eur": "8995.621772564985"
          },
          {
            "date": "2025-12-31",
            "value_eur": "9072.673214638810"
          },
          {
            "date": "2026-01-31",
            "value_eur": "8554.202850537310"
          },
          {
            "date": "2026-02-28",
            "value_eur": "7723.286272185890"
          },
          {
            "date": "2026-03-31",
            "value_eur": "8536.250117401655"
          },
          {
            "date": "2026-04-30",
            "value_eur": "9971.419915439530"
          },
          {
            "date": "2026-05-31",
            "value_eur": "10163.576312010830"
          },
          {
            "date": "2026-06-30",
            "value_eur": "8658.633286572380"
          },
          {
            "date": "2026-07-31",
            "value_eur": "9727.867479179565"
          },
          {
            "date": "2026-08-31",
            "value_eur": "12689.241244584905"
          },
          {
            "date": "2026-09-30",
            "value_eur": "14386.568457022385"
          },
          {
            "date": "2026-10-04",
            "value_eur": "15263.381858974000"
          }
        ],
        "days": 329,
        "final_value_eur": "15263.381858974000",
        "max_drawdown": -0.4410313124858316,
        "max_recovery_days": 328,
        "money_weighted_return_xirr": -0.062238511189570384,
        "period_end": "2026-10-04",
        "period_start": "2025-11-10",
        "result_eur": "-736.618141026000",
        "sharpe_zero_cash": -0.2544512863653287,
        "simple_return_on_contributions": -0.046038633814125,
        "sortino_zero_cash": -0.3644260454655214,
        "time_weighted_return": -0.16984151387618662,
        "trade_days": 13,
        "trades": 13,
        "turnover_on_contributed_capital": 1.95382414225
      },
      "candidate": {
        "after_fixed_cost_eur": "14800",
        "annualized_time_weighted_return": 0.0,
        "annualized_volatility": 0.0,
        "average_market_exposure": 0.0,
        "by_regime": {
          "contraccion": {
            "days": 202,
            "time_weighted_return": 0.0
          },
          "expansion": {
            "days": 46,
            "time_weighted_return": 0.0
          },
          "neutral": {
            "days": 81,
            "time_weighted_return": 0.0
          }
        },
        "by_year": {
          "2025": {
            "days": 52,
            "time_weighted_return": 0.0
          },
          "2026": {
            "days": 277,
            "time_weighted_return": 0.0
          }
        },
        "capital_contributed_eur": "16000",
        "costs_eur": "0",
        "curve": [
          {
            "date": "2025-11-30",
            "value_eur": "10500"
          },
          {
            "date": "2025-12-31",
            "value_eur": "11000"
          },
          {
            "date": "2026-01-31",
            "value_eur": "11500"
          },
          {
            "date": "2026-02-28",
            "value_eur": "12000"
          },
          {
            "date": "2026-03-31",
            "value_eur": "12500"
          },
          {
            "date": "2026-04-30",
            "value_eur": "13000"
          },
          {
            "date": "2026-05-31",
            "value_eur": "13500"
          },
          {
            "date": "2026-06-30",
            "value_eur": "14000"
          },
          {
            "date": "2026-07-31",
            "value_eur": "14500"
          },
          {
            "date": "2026-08-31",
            "value_eur": "15000"
          },
          {
            "date": "2026-09-30",
            "value_eur": "15500"
          },
          {
            "date": "2026-10-04",
            "value_eur": "16000"
          }
        ],
        "days": 329,
        "final_value_eur": "16000",
        "max_drawdown": 0.0,
        "max_recovery_days": 0,
        "money_weighted_return_xirr": -7.5815297446221e-15,
        "period_end": "2026-10-04",
        "period_start": "2025-11-10",
        "result_eur": "0",
        "sharpe_zero_cash": null,
        "simple_return_on_contributions": 0.0,
        "sortino_zero_cash": null,
        "time_weighted_return": 0.0,
        "trade_days": 0,
        "trades": 0,
        "turnover_on_contributed_capital": 0.0
      }
    },
    "before_gap": {
      "btc_50_eur_50": {
        "after_fixed_cost_eur": "110060.9305043195925",
        "annualized_time_weighted_return": 0.2951797315500435,
        "annualized_volatility": 0.3126393495851738,
        "average_market_exposure": 0.5032203736062517,
        "by_regime": {
          "contraccion": {
            "days": 662,
            "time_weighted_return": -0.11740553299113876
          },
          "expansion": {
            "days": 994,
            "time_weighted_return": 4.676034811175008
          },
          "neutral": {
            "days": 381,
            "time_weighted_return": -0.15514935128908924
          }
        },
        "by_year": {
          "2019": {
            "days": 98,
            "time_weighted_return": -0.08830728806815624
          },
          "2020": {
            "days": 366,
            "time_weighted_return": 1.0673581913164902
          },
          "2021": {
            "days": 365,
            "time_weighted_return": 0.41348743104931085
          },
          "2022": {
            "days": 365,
            "time_weighted_return": -0.35302691015945875
          },
          "2023": {
            "days": 365,
            "time_weighted_return": 0.6246216495888626
          },
          "2024": {
            "days": 366,
            "time_weighted_return": 0.5959649338659627
          },
          "2025": {
            "days": 112,
            "time_weighted_return": -0.052960199367609206
          }
        },
        "capital_contributed_eur": "44000",
        "costs_eur": "661.7310611154075",
        "curve": [
          {
            "date": "2019-09-30",
            "value_eur": "10374.2680208963040"
          },
          {
            "date": "2019-10-31",
            "value_eur": "11305.8394214069915"
          },
          {
            "date": "2019-11-30",
            "value_eur": "10837.5022607214475"
          },
          {
            "date": "2019-12-31",
            "value_eur": "10961.3134195688495"
          },
          {
            "date": "2020-01-31",
            "value_eur": "13251.7311787434655"
          },
          {
            "date": "2020-02-29",
            "value_eur": "13208.1405373450905"
          },
          {
            "date": "2020-03-31",
            "value_eur": "12016.1667545085760"
          },
          {
            "date": "2020-04-30",
            "value_eur": "14687.9000430527315"
          },
          {
            "date": "2020-05-31",
            "value_eur": "15817.8776332921135"
          },
          {
            "date": "2020-06-30",
            "value_eur": "15951.5438929434255"
          },
          {
            "date": "2020-07-31",
            "value_eur": "17955.1022826697055"
          },
          {
            "date": "2020-08-31",
            "value_eur": "18592.6065610845215"
          },
          {
            "date": "2020-09-30",
            "value_eur": "18529.3161251986375"
          },
          {
            "date": "2020-10-31",
            "value_eur": "21761.0301330017975"
          },
          {
            "date": "2020-11-30",
            "value_eur": "26565.6902982631475"
          },
          {
            "date": "2020-12-31",
            "value_eur": "33038.1463385490075"
          },
          {
            "date": "2021-01-31",
            "value_eur": "36128.6318347439675"
          },
          {
            "date": "2021-02-28",
            "value_eur": "43363.1264160658875"
          },
          {
            "date": "2021-03-31",
            "value_eur": "51235.0172902486775"
          },
          {
            "date": "2021-04-30",
            "value_eur": "50677.7738018062375"
          },
          {
            "date": "2021-05-31",
            "value_eur": "41840.8412522019225"
          },
          {
            "date": "2021-06-30",
            "value_eur": "41677.9249111265275"
          },
          {
            "date": "2021-07-31",
            "value_eur": "46013.3498446467475"
          },
          {
            "date": "2021-08-31",
            "value_eur": "49820.8262799129675"
          },
          {
            "date": "2021-09-30",
            "value_eur": "49003.4108198606275"
          },
          {
            "date": "2021-10-31",
            "value_eur": "59496.1178050755175"
          },
          {
            "date": "2021-11-30",
            "value_eur": "58365.8941680360375"
          },
          {
            "date": "2021-12-31",
            "value_eur": "53257.0975913048375"
          },
          {
            "date": "2022-01-31",
            "value_eur": "49526.1972302900075"
          },
          {
            "date": "2022-02-28",
            "value_eur": "53108.1869548253425"
          },
          {
            "date": "2022-03-31",
            "value_eur": "55409.3432397107175"
          },
          {
            "date": "2022-04-30",
            "value_eur": "52248.9995401034825"
          },
          {
            "date": "2022-05-31",
            "value_eur": "48197.6203257163075"
          },
          {
            "date": "2022-06-30",
            "value_eur": "39998.0645059456275"
          },
          {
            "date": "2022-07-31",
            "value_eur": "44564.9019873511025"
          },
          {
            "date": "2022-08-31",
            "value_eur": "42221.2139004523025"
          },
          {
            "date": "2022-09-30",
            "value_eur": "42535.9389313529425"
          },
          {
            "date": "2022-10-31",
            "value_eur": "44018.3646177004725"
          },
          {
            "date": "2022-11-30",
            "value_eur": "39961.8740035528525"
          },
          {
            "date": "2022-12-31",
            "value_eur": "39174.9364995253725"
          },
          {
            "date": "2023-01-31",
            "value_eur": "47220.1998825718525"
          },
          {
            "date": "2023-02-28",
            "value_eur": "48347.7931237370575"
          },
          {
            "date": "2023-03-31",
            "value_eur": "53698.7123276737775"
          },
          {
            "date": "2023-04-30",
            "value_eur": "54495.3113309343575"
          },
          {
            "date": "2023-05-31",
            "value_eur": "53899.5225657232925"
          },
          {
            "date": "2023-06-30",
            "value_eur": "57032.8091067095925"
          },
          {
            "date": "2023-07-31",
            "value_eur": "56104.3591716058325"
          },
          {
            "date": "2023-08-31",
            "value_eur": "53801.0276199371275"
          },
          {
            "date": "2023-09-30",
            "value_eur": "56097.0941779854775"
          },
          {
            "date": "2023-10-31",
            "value_eur": "64615.5733662417775"
          },
          {
            "date": "2023-11-30",
            "value_eur": "66993.9694110186575"
          },
          {
            "date": "2023-12-31",
            "value_eur": "71187.7483933504975"
          },
          {
            "date": "2024-01-31",
            "value_eur": "72594.5949797584575"
          },
          {
            "date": "2024-02-29",
            "value_eur": "88966.9293861390425"
          },
          {
            "date": "2024-03-31",
            "value_eur": "96970.6151073304425"
          },
          {
            "date": "2024-04-30",
            "value_eur": "90666.3151271634325"
          },
          {
            "date": "2024-05-31",
            "value_eur": "95485.3651066839325"
          },
          {
            "date": "2024-06-30",
            "value_eur": "93008.5470734974625"
          },
          {
            "date": "2024-07-31",
            "value_eur": "94560.1050419587325"
          },
          {
            "date": "2024-08-31",
            "value_eur": "90015.0900417711425"
          },
          {
            "date": "2024-09-30",
            "value_eur": "93436.2149776208425"
          },
          {
            "date": "2024-10-31",
            "value_eur": "100278.2734241199425"
          },
          {
            "date": "2024-11-30",
            "value_eur": "121545.3052710108825"
          },
          {
            "date": "2024-12-31",
            "value_eur": "121355.2665299251925"
          },
          {
            "date": "2025-01-31",
            "value_eur": "127745.4498297212125"
          },
          {
            "date": "2025-02-28",
            "value_eur": "116832.9795552212125"
          },
          {
            "date": "2025-03-31",
            "value_eur": "113700.3810850195175"
          },
          {
            "date": "2025-04-22",
            "value_eur": "116860.9305043195925"
          }
        ],
        "days": 2037,
        "final_value_eur": "116860.9305043195925",
        "max_drawdown": -0.45650597442500085,
        "max_recovery_days": 839,
        "money_weighted_return_xirr": 0.2873727667033558,
        "period_end": "2025-04-22",
        "period_start": "2019-09-25",
        "result_eur": "72860.9305043195925",
        "sharpe_zero_cash": 0.9842548403469757,
        "simple_return_on_contributions": 1.6559302387345363,
        "sortino_zero_cash": 1.4496006543215156,
        "time_weighted_return": 3.232395000732664,
        "trade_days": 69,
        "trades": 69,
        "turnover_on_contributed_capital": 4.296954942307841
      },
      "btc_buy_hold": {
        "after_fixed_cost_eur": "234374.3961631547775",
        "annualized_time_weighted_return": 0.517442692366763,
        "annualized_volatility": 0.6302571221421382,
        "average_market_exposure": 0.9992142000026708,
        "by_regime": {
          "contraccion": {
            "days": 662,
            "time_weighted_return": -0.330174608233342
          },
          "expansion": {
            "days": 994,
            "time_weighted_return": 22.97976919594399
          },
          "neutral": {
            "days": 381,
            "time_weighted_return": -0.3625403769172634
          }
        },
        "by_year": {
          "2019": {
            "days": 98,
            "time_weighted_return": -0.17723478418290406
          },
          "2020": {
            "days": 366,
            "time_weighted_return": 2.6956505042892993
          },
          "2021": {
            "days": 365,
            "time_weighted_return": 0.7171835470444294
          },
          "2022": {
            "days": 365,
            "time_weighted_return": -0.6206671518817546
          },
          "2023": {
            "days": 365,
            "time_weighted_return": 1.4893666517984747
          },
          "2024": {
            "days": 366,
            "time_weighted_return": 1.344770166356136
          },
          "2025": {
            "days": 112,
            "time_weighted_return": -0.11434178898929026
          }
        },
        "capital_contributed_eur": "44000",
        "costs_eur": "1000.5380262102225",
        "curve": [
          {
            "date": "2019-09-30",
            "value_eur": "10271.7580124029920"
          },
          {
            "date": "2019-10-31",
            "value_eur": "11622.2367009978045"
          },
          {
            "date": "2019-11-30",
            "value_eur": "10134.0831518911765"
          },
          {
            "date": "2019-12-31",
            "value_eur": "9915.5238359494055"
          },
          {
            "date": "2020-01-31",
            "value_eur": "13687.9631738330215"
          },
          {
            "date": "2020-02-29",
            "value_eur": "13066.0226273483940"
          },
          {
            "date": "2020-03-31",
            "value_eur": "10219.3025617939210"
          },
          {
            "date": "2020-04-30",
            "value_eur": "14451.1817922363335"
          },
          {
            "date": "2020-05-31",
            "value_eur": "16191.4340948041255"
          },
          {
            "date": "2020-06-30",
            "value_eur": "15944.0337774983895"
          },
          {
            "date": "2020-07-31",
            "value_eur": "19446.1045308134795"
          },
          {
            "date": "2020-08-31",
            "value_eur": "20241.8678411156275"
          },
          {
            "date": "2020-09-30",
            "value_eur": "19517.7737939243475"
          },
          {
            "date": "2020-10-31",
            "value_eur": "25766.4084359046975"
          },
          {
            "date": "2020-11-30",
            "value_eur": "36429.9326748906475"
          },
          {
            "date": "2020-12-31",
            "value_eur": "53244.3450419568675"
          },
          {
            "date": "2021-01-31",
            "value_eur": "62073.3024865971275"
          },
          {
            "date": "2021-02-28",
            "value_eur": "85588.1200703726325"
          },
          {
            "date": "2021-03-31",
            "value_eur": "115065.8409706220625"
          },
          {
            "date": "2021-04-30",
            "value_eur": "110892.6830429761625"
          },
          {
            "date": "2021-05-31",
            "value_eur": "70754.1387848780875"
          },
          {
            "date": "2021-06-30",
            "value_eur": "69067.6291347255675"
          },
          {
            "date": "2021-07-31",
            "value_eur": "82231.5308895022025"
          },
          {
            "date": "2021-08-31",
            "value_eur": "94515.6230412560125"
          },
          {
            "date": "2021-09-30",
            "value_eur": "90060.0371726328025"
          },
          {
            "date": "2021-10-31",
            "value_eur": "127155.7711511323625"
          },
          {
            "date": "2021-11-30",
            "value_eur": "120790.7718218452025"
          },
          {
            "date": "2021-12-31",
            "value_eur": "98178.8978550452025"
          },
          {
            "date": "2022-01-31",
            "value_eur": "83177.3056162687175"
          },
          {
            "date": "2022-02-28",
            "value_eur": "94015.5054248295275"
          },
          {
            "date": "2022-03-31",
            "value_eur": "100881.1906047340275"
          },
          {
            "date": "2022-04-30",
            "value_eur": "88116.2040436339325"
          },
          {
            "date": "2022-05-31",
            "value_eur": "73342.6011338231025"
          },
          {
            "date": "2022-06-30",
            "value_eur": "47466.5942176945425"
          },
          {
            "date": "2022-07-31",
            "value_eur": "57653.3030200895775"
          },
          {
            "date": "2022-08-31",
            "value_eur": "50836.6132724937775"
          },
          {
            "date": "2022-09-30",
            "value_eur": "50903.3544146560275"
          },
          {
            "date": "2022-10-31",
            "value_eur": "53751.4610612450825"
          },
          {
            "date": "2022-11-30",
            "value_eur": "43142.4457541729925"
          },
          {
            "date": "2022-12-31",
            "value_eur": "40881.6615203277425"
          },
          {
            "date": "2023-01-31",
            "value_eur": "57118.8386975409425"
          },
          {
            "date": "2023-02-28",
            "value_eur": "59169.4119279661975"
          },
          {
            "date": "2023-03-31",
            "value_eur": "71521.8354429173175"
          },
          {
            "date": "2023-04-30",
            "value_eur": "72824.1100736839625"
          },
          {
            "date": "2023-05-31",
            "value_eur": "70400.3684011069825"
          },
          {
            "date": "2023-06-30",
            "value_eur": "77771.5276850039725"
          },
          {
            "date": "2023-07-31",
            "value_eur": "74398.5298607594375"
          },
          {
            "date": "2023-08-31",
            "value_eur": "67484.5938533804575"
          },
          {
            "date": "2023-09-30",
            "value_eur": "72497.2694688293325"
          },
          {
            "date": "2023-10-31",
            "value_eur": "93683.9120648790625"
          },
          {
            "date": "2023-11-30",
            "value_eur": "99648.9088550169025"
          },
          {
            "date": "2023-12-31",
            "value_eur": "111115.7118229709175"
          },
          {
            "date": "2024-01-31",
            "value_eur": "114456.3582598160575"
          },
          {
            "date": "2024-02-29",
            "value_eur": "164877.0715406119775"
          },
          {
            "date": "2024-03-31",
            "value_eur": "193215.2381486714525"
          },
          {
            "date": "2024-04-30",
            "value_eur": "166719.6182939188625"
          },
          {
            "date": "2024-05-31",
            "value_eur": "183108.0792414685875"
          },
          {
            "date": "2024-06-30",
            "value_eur": "172234.7601088713325"
          },
          {
            "date": "2024-07-31",
            "value_eur": "176642.7229915448825"
          },
          {
            "date": "2024-08-31",
            "value_eur": "158343.5179488496075"
          },
          {
            "date": "2024-09-30",
            "value_eur": "169129.9492215372675"
          },
          {
            "date": "2024-10-31",
            "value_eur": "192547.9010290824475"
          },
          {
            "date": "2024-11-30",
            "value_eur": "272642.4932978832175"
          },
          {
            "date": "2024-12-31",
            "value_eur": "270209.5367798389725"
          },
          {
            "date": "2025-01-31",
            "value_eur": "296885.0896733598725"
          },
          {
            "date": "2025-02-28",
            "value_eur": "244498.9497010561225"
          },
          {
            "date": "2025-03-31",
            "value_eur": "229909.9298544325025"
          },
          {
            "date": "2025-04-22",
            "value_eur": "241174.3961631547775"
          }
        ],
        "days": 2037,
        "final_value_eur": "241174.3961631547775",
        "max_drawdown": -0.7360446255688899,
        "max_recovery_days": 846,
        "money_weighted_return_xirr": 0.516679432354966,
        "period_end": "2025-04-22",
        "period_start": "2019-09-25",
        "result_eur": "197174.3961631547775",
        "sharpe_zero_cash": 0.9822269476646883,
        "simple_return_on_contributions": 4.481236276435336,
        "sortino_zero_cash": 1.4456637246347332,
        "time_weighted_return": 9.239041119319548,
        "trade_days": 69,
        "trades": 69,
        "turnover_on_contributed_capital": 6.49700017019625
      },
      "candidate": {
        "after_fixed_cost_eur": "36874.41772868472702072618534",
        "annualized_time_weighted_return": -0.0018857530497562447,
        "annualized_volatility": 0.0032138868088461454,
        "average_market_exposure": 0.00042782310588081743,
        "by_regime": {
          "contraccion": {
            "days": 662,
            "time_weighted_return": 0.0
          },
          "expansion": {
            "days": 994,
            "time_weighted_return": -0.004999999905015318
          },
          "neutral": {
            "days": 381,
            "time_weighted_return": -0.005501087569919738
          }
        },
        "by_year": {
          "2019": {
            "days": 98,
            "time_weighted_return": 0.0
          },
          "2020": {
            "days": 366,
            "time_weighted_return": -0.0005036057279662609
          },
          "2021": {
            "days": 365,
            "time_weighted_return": 0.0
          },
          "2022": {
            "days": 365,
            "time_weighted_return": -0.004999999870528127
          },
          "2023": {
            "days": 365,
            "time_weighted_return": 0.0
          },
          "2024": {
            "days": 366,
            "time_weighted_return": -0.004999999905015318
          },
          "2025": {
            "days": 112,
            "time_weighted_return": 0.0
          }
        },
        "capital_contributed_eur": "44000",
        "costs_eur": "81.68342665291775672106537754",
        "curve": [
          {
            "date": "2019-09-30",
            "value_eur": "10500.0"
          },
          {
            "date": "2019-10-31",
            "value_eur": "11000.0"
          },
          {
            "date": "2019-11-30",
            "value_eur": "11500.0"
          },
          {
            "date": "2019-12-31",
            "value_eur": "12000.0"
          },
          {
            "date": "2020-01-31",
            "value_eur": "12493.70492840042137649724076"
          },
          {
            "date": "2020-02-29",
            "value_eur": "12993.70492840042137649724076"
          },
          {
            "date": "2020-03-31",
            "value_eur": "13493.70492840042137649724076"
          },
          {
            "date": "2020-04-30",
            "value_eur": "13993.70492840042137649724076"
          },
          {
            "date": "2020-05-31",
            "value_eur": "14493.70492840042137649724076"
          },
          {
            "date": "2020-06-30",
            "value_eur": "14993.70492840042137649724076"
          },
          {
            "date": "2020-07-31",
            "value_eur": "15493.70492840042137649724076"
          },
          {
            "date": "2020-08-31",
            "value_eur": "15993.70492840042137649724076"
          },
          {
            "date": "2020-09-30",
            "value_eur": "16493.70492840042137649724076"
          },
          {
            "date": "2020-10-31",
            "value_eur": "16993.70492840042137649724076"
          },
          {
            "date": "2020-11-30",
            "value_eur": "17493.70492840042137649724076"
          },
          {
            "date": "2020-12-31",
            "value_eur": "17993.70492840042137649724076"
          },
          {
            "date": "2021-01-31",
            "value_eur": "18493.70492840042137649724076"
          },
          {
            "date": "2021-02-28",
            "value_eur": "18993.70492840042137649724076"
          },
          {
            "date": "2021-03-31",
            "value_eur": "19493.70492840042137649724076"
          },
          {
            "date": "2021-04-30",
            "value_eur": "19993.70492840042137649724076"
          },
          {
            "date": "2021-05-31",
            "value_eur": "20493.70492840042137649724076"
          },
          {
            "date": "2021-06-30",
            "value_eur": "20993.70492840042137649724076"
          },
          {
            "date": "2021-07-31",
            "value_eur": "21493.70492840042137649724076"
          },
          {
            "date": "2021-08-31",
            "value_eur": "21993.70492840042137649724076"
          },
          {
            "date": "2021-09-30",
            "value_eur": "22493.70492840042137649724076"
          },
          {
            "date": "2021-10-31",
            "value_eur": "22993.70492840042137649724076"
          },
          {
            "date": "2021-11-30",
            "value_eur": "23493.70492840042137649724076"
          },
          {
            "date": "2021-12-31",
            "value_eur": "23993.70492840042137649724076"
          },
          {
            "date": "2022-01-31",
            "value_eur": "24493.70492840042137649724076"
          },
          {
            "date": "2022-02-28",
            "value_eur": "24993.70492840042137649724076"
          },
          {
            "date": "2022-03-31",
            "value_eur": "25493.70492840042137649724076"
          },
          {
            "date": "2022-04-30",
            "value_eur": "25863.73640712387253673728664"
          },
          {
            "date": "2022-05-31",
            "value_eur": "26363.73640712387253673728664"
          },
          {
            "date": "2022-06-30",
            "value_eur": "26863.73640712387253673728664"
          },
          {
            "date": "2022-07-31",
            "value_eur": "27363.73640712387253673728664"
          },
          {
            "date": "2022-08-31",
            "value_eur": "27863.73640712387253673728664"
          },
          {
            "date": "2022-09-30",
            "value_eur": "28363.73640712387253673728664"
          },
          {
            "date": "2022-10-31",
            "value_eur": "28863.73640712387253673728664"
          },
          {
            "date": "2022-11-30",
            "value_eur": "29363.73640712387253673728664"
          },
          {
            "date": "2022-12-31",
            "value_eur": "29863.73640712387253673728664"
          },
          {
            "date": "2023-01-31",
            "value_eur": "30363.73640712387253673728664"
          },
          {
            "date": "2023-02-28",
            "value_eur": "30863.73640712387253673728664"
          },
          {
            "date": "2023-03-31",
            "value_eur": "31363.73640712387253673728664"
          },
          {
            "date": "2023-04-30",
            "value_eur": "31863.73640712387253673728664"
          },
          {
            "date": "2023-05-31",
            "value_eur": "32363.73640712387253673728664"
          },
          {
            "date": "2023-06-30",
            "value_eur": "32863.73640712387253673728664"
          },
          {
            "date": "2023-07-31",
            "value_eur": "33363.73640712387253673728664"
          },
          {
            "date": "2023-08-31",
            "value_eur": "33863.73640712387253673728664"
          },
          {
            "date": "2023-09-30",
            "value_eur": "34363.73640712387253673728664"
          },
          {
            "date": "2023-10-31",
            "value_eur": "34863.73640712387253673728664"
          },
          {
            "date": "2023-11-30",
            "value_eur": "35363.73640712387253673728664"
          },
          {
            "date": "2023-12-31",
            "value_eur": "35863.73640712387253673728664"
          },
          {
            "date": "2024-01-31",
            "value_eur": "36363.73640712387253673728664"
          },
          {
            "date": "2024-02-29",
            "value_eur": "36863.73640712387253673728664"
          },
          {
            "date": "2024-03-31",
            "value_eur": "37363.73640712387253673728664"
          },
          {
            "date": "2024-04-30",
            "value_eur": "37674.41772868472702072618534"
          },
          {
            "date": "2024-05-31",
            "value_eur": "38174.41772868472702072618534"
          },
          {
            "date": "2024-06-30",
            "value_eur": "38674.41772868472702072618534"
          },
          {
            "date": "2024-07-31",
            "value_eur": "39174.41772868472702072618534"
          },
          {
            "date": "2024-08-31",
            "value_eur": "39674.41772868472702072618534"
          },
          {
            "date": "2024-09-30",
            "value_eur": "40174.41772868472702072618534"
          },
          {
            "date": "2024-10-31",
            "value_eur": "40674.41772868472702072618534"
          },
          {
            "date": "2024-11-30",
            "value_eur": "41174.41772868472702072618534"
          },
          {
            "date": "2024-12-31",
            "value_eur": "41674.41772868472702072618534"
          },
          {
            "date": "2025-01-31",
            "value_eur": "42174.41772868472702072618534"
          },
          {
            "date": "2025-02-28",
            "value_eur": "42674.41772868472702072618534"
          },
          {
            "date": "2025-03-31",
            "value_eur": "43174.41772868472702072618534"
          },
          {
            "date": "2025-04-22",
            "value_eur": "43674.41772868472702072618534"
          }
        ],
        "days": 2037,
        "final_value_eur": "43674.41772868472702072618534",
        "max_drawdown": -0.011272486149554672,
        "max_recovery_days": 1114,
        "money_weighted_return_xirr": -0.002140631624198387,
        "period_end": "2025-04-22",
        "period_start": "2019-09-25",
        "result_eur": "-325.58227131527297927381466",
        "sharpe_zero_cash": -0.5854061815046564,
        "simple_return_on_contributions": -0.007399597075347113,
        "sortino_zero_cash": -0.633251075149833,
        "time_weighted_return": -0.010473582037607954,
        "trade_days": 5,
        "trades": 6,
        "turnover_on_contributed_capital": 0.5304118613825828
      }
    },
    "reserved_tail_before_gap": {
      "btc_50_eur_50": {
        "after_fixed_cost_eur": "17888.970502297155",
        "annualized_time_weighted_return": 0.1389712634936946,
        "annualized_volatility": 0.2592540603713672,
        "average_market_exposure": 0.5011652558675646,
        "by_regime": {
          "contraccion": {
            "days": 108,
            "time_weighted_return": -0.0614050919209167
          },
          "expansion": {
            "days": 209,
            "time_weighted_return": 0.1447401537935029
          },
          "neutral": {
            "days": 91,
            "time_weighted_return": 0.0760451521784884
          }
        },
        "by_year": {
          "2024": {
            "days": 296,
            "time_weighted_return": 0.2208933891658813
          },
          "2025": {
            "days": 112,
            "time_weighted_return": -0.053026417740113296
          }
        },
        "capital_contributed_eur": "17000",
        "costs_eur": "72.956464852845",
        "curve": [
          {
            "date": "2024-03-31",
            "value_eur": "10729.956044123800"
          },
          {
            "date": "2024-04-30",
            "value_eur": "10447.076125590435"
          },
          {
            "date": "2024-05-31",
            "value_eur": "11464.967502513985"
          },
          {
            "date": "2024-06-30",
            "value_eur": "11594.547450848745"
          },
          {
            "date": "2024-07-31",
            "value_eur": "12229.757526905335"
          },
          {
            "date": "2024-08-31",
            "value_eur": "12053.747147730650"
          },
          {
            "date": "2024-09-30",
            "value_eur": "12958.132390501790"
          },
          {
            "date": "2024-10-31",
            "value_eur": "14367.180998283290"
          },
          {
            "date": "2024-11-30",
            "value_eur": "17931.642556481700"
          },
          {
            "date": "2024-12-31",
            "value_eur": "18328.294299240920"
          },
          {
            "date": "2025-01-31",
            "value_eur": "19737.645625147060"
          },
          {
            "date": "2025-02-28",
            "value_eur": "18437.482347871435"
          },
          {
            "date": "2025-03-31",
            "value_eur": "18350.544397151130"
          },
          {
            "date": "2025-04-22",
            "value_eur": "19288.970502297155"
          }
        ],
        "days": 408,
        "final_value_eur": "19288.970502297155",
        "max_drawdown": -0.17058751606289513,
        "max_recovery_days": 229,
        "money_weighted_return_xirr": 0.1490831572689127,
        "period_end": "2025-04-22",
        "period_start": "2024-03-11",
        "result_eur": "2288.970502297155",
        "sharpe_zero_cash": 0.6296764180935456,
        "simple_return_on_contributions": 0.13464532366453852,
        "sortino_zero_cash": 0.9495080012454264,
        "time_weighted_return": 0.15615378629582843,
        "trade_days": 15,
        "trades": 15,
        "turnover_on_contributed_capital": 1.2261590731570589
      },
      "btc_buy_hold": {
        "after_fixed_cost_eur": "19487.933904812820",
        "annualized_time_weighted_return": 0.22998006823801487,
        "annualized_volatility": 0.5197005121971957,
        "average_market_exposure": 0.9975489955331267,
        "by_regime": {
          "contraccion": {
            "days": 108,
            "time_weighted_return": -0.12333183943859027
          },
          "expansion": {
            "days": 209,
            "time_weighted_return": 0.25403853547574307
          },
          "neutral": {
            "days": 91,
            "time_weighted_return": 0.1457672215126653
          }
        },
        "by_year": {
          "2024": {
            "days": 296,
            "time_weighted_return": 0.4226679140214362
          },
          "2025": {
            "days": 112,
            "time_weighted_return": -0.11460111066507661
          }
        },
        "capital_contributed_eur": "17000",
        "costs_eur": "132.657018107180",
        "curve": [
          {
            "date": "2024-03-31",
            "value_eur": "10959.912088247600"
          },
          {
            "date": "2024-04-30",
            "value_eur": "9861.521120455010"
          },
          {
            "date": "2024-05-31",
            "value_eur": "11344.352296524735"
          },
          {
            "date": "2024-06-30",
            "value_eur": "11108.847086048085"
          },
          {
            "date": "2024-07-31",
            "value_eur": "11869.717137027005"
          },
          {
            "date": "2024-08-31",
            "value_eur": "11055.591095801895"
          },
          {
            "date": "2024-09-30",
            "value_eur": "12302.198611350975"
          },
          {
            "date": "2024-10-31",
            "value_eur": "14530.044426085695"
          },
          {
            "date": "2024-11-30",
            "value_eur": "21224.824421758300"
          },
          {
            "date": "2024-12-31",
            "value_eur": "21489.944142194055"
          },
          {
            "date": "2025-01-31",
            "value_eur": "24114.547498834955"
          },
          {
            "date": "2025-02-28",
            "value_eur": "20235.845846111830"
          },
          {
            "date": "2025-03-31",
            "value_eur": "19457.224411522745"
          },
          {
            "date": "2025-04-22",
            "value_eur": "20887.933904812820"
          }
        ],
        "days": 408,
        "final_value_eur": "20887.933904812820",
        "max_drawdown": -0.3193590235160372,
        "max_recovery_days": 229,
        "money_weighted_return_xirr": 0.25288112051333433,
        "period_end": "2025-04-22",
        "period_start": "2024-03-11",
        "result_eur": "3887.933904812820",
        "sharpe_zero_cash": 0.6550293007252094,
        "simple_return_on_contributions": 0.22870199440075412,
        "sortino_zero_cash": 0.991332850770419,
        "time_weighted_return": 0.25962859096701063,
        "trade_days": 15,
        "trades": 15,
        "turnover_on_contributed_capital": 2.229529716087059
      },
      "candidate": {
        "after_fixed_cost_eur": "15545.00001264639157619318780",
        "annualized_time_weighted_return": -0.004485187398559076,
        "annualized_volatility": 0.004729184474449799,
        "average_market_exposure": 0.0,
        "by_regime": {
          "contraccion": {
            "days": 108,
            "time_weighted_return": 0.0
          },
          "expansion": {
            "days": 209,
            "time_weighted_return": -0.004999998850328091
          },
          "neutral": {
            "days": 91,
            "time_weighted_return": 0.0
          }
        },
        "by_year": {
          "2024": {
            "days": 296,
            "time_weighted_return": -0.004999998850328091
          },
          "2025": {
            "days": 112,
            "time_weighted_return": 0.0
          }
        },
        "capital_contributed_eur": "17000",
        "costs_eur": "14.33066620535109936445173839",
        "curve": [
          {
            "date": "2024-03-31",
            "value_eur": "10500"
          },
          {
            "date": "2024-04-30",
            "value_eur": "10945.00001264639157619318780"
          },
          {
            "date": "2024-05-31",
            "value_eur": "11445.00001264639157619318780"
          },
          {
            "date": "2024-06-30",
            "value_eur": "11945.00001264639157619318780"
          },
          {
            "date": "2024-07-31",
            "value_eur": "12445.00001264639157619318780"
          },
          {
            "date": "2024-08-31",
            "value_eur": "12945.00001264639157619318780"
          },
          {
            "date": "2024-09-30",
            "value_eur": "13445.00001264639157619318780"
          },
          {
            "date": "2024-10-31",
            "value_eur": "13945.00001264639157619318780"
          },
          {
            "date": "2024-11-30",
            "value_eur": "14445.00001264639157619318780"
          },
          {
            "date": "2024-12-31",
            "value_eur": "14945.00001264639157619318780"
          },
          {
            "date": "2025-01-31",
            "value_eur": "15445.00001264639157619318780"
          },
          {
            "date": "2025-02-28",
            "value_eur": "15945.00001264639157619318780"
          },
          {
            "date": "2025-03-31",
            "value_eur": "16445.00001264639157619318780"
          },
          {
            "date": "2025-04-22",
            "value_eur": "16945.00001264639157619318780"
          }
        ],
        "days": 408,
        "final_value_eur": "16945.00001264639157619318780",
        "max_drawdown": -0.004999998850328091,
        "max_recovery_days": 386,
        "money_weighted_return_xirr": -0.0035891448811010123,
        "period_end": "2025-04-22",
        "period_start": "2024-03-11",
        "result_eur": "-54.99998735360842380681220",
        "sharpe_zero_cash": -0.9458371123704413,
        "simple_return_on_contributions": -0.003235293373741672,
        "sortino_zero_cash": -0.9458371123704414,
        "time_weighted_return": -0.004999998850328091,
        "trade_days": 1,
        "trades": 2,
        "turnover_on_contributed_capital": 0.2408515328630437
      }
    }
  },
  "strategy": "pullback_ema@1.0.0",
  "history": "explored_not_pristine_holdout",
  "universe_label": "fixed",
  "cutoff_exclusive": "2026-10-05T00:00:00+00:00"
}
