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Biotech Semis
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Backtest Leaderboard

Overlay any combination of strategies + benchmarks, compare across metrics

Benchmarks
Strategies
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Cumulative Performance
Long Strategies
Strategy ▾ Return?Cumulative return of the long book across the comparison window, rebased to 0% at the window's start. Benchmark Return?Cumulative return of the strategy's configured benchmark (buy-and-hold) over the same window. Alpha?Return minus Benchmark Return over the comparison window. Positive = strategy outperformed its benchmark. Sharpe?Annualized Sharpe = (mean daily excess return / std of daily excess) × √252, where excess = daily return − (risk-free ÷ 252). The risk-free rate is set in the input above the chart. Max DD?Worst peak-to-trough decline of the rebased cumulative return curve within the comparison window. % Quarters Beating XBI?Percentage of calendar quarters inside the comparison window where the strategy's quarterly return exceeded long XBI's quarterly return. 50% is a coin flip; >60% indicates durable edge.
No long strategies selected.
Short Strategies
Strategy ▾ Return?Cumulative return of the short book (profits when prices fall) across the comparison window, rebased to 0% at the window's start. Benchmark?The ETF this strategy is benchmarked against — i.e., the "Short Benchmark" column to the right is the return of shorting this ticker over the same window. Short Benchmark?Cumulative return of shorting the benchmark ETF — daily-compounded (1 − price return). Example: if XBI is up +6% over the window, Short XBI ≈ −6% (compounded), so a short strategy needs to clear that bar to add value. NOT the negated long return; that would be mathematically incorrect for multi-period compounding. Short Alpha?Short-book Return minus Short Benchmark. Positive = strategy generated more short profit than simply shorting the benchmark. Sharpe?Annualized Sharpe = (mean daily excess return / std of daily excess) × √252, where excess = daily return − (risk-free ÷ 252). The risk-free rate is set in the input above the chart. Max DD?Worst peak-to-trough decline of the rebased cumulative return curve within the comparison window. % Quarters Beating XBI?Percentage of calendar quarters inside the comparison window where the short strategy's quarterly return exceeded short XBI's quarterly return. 50% is a coin flip; >60% indicates durable edge vs. a naive short-XBI position.
No short strategies selected.