{
  "contract": "assay-004-context-derivations-v1",
  "derived_comparisons": {
    "q2_share_of_buy_and_hold_drawdown": 0.2788265404994283,
    "q2_share_of_buy_and_hold_excess": 0.7407428423259316,
    "q2_weakest_leave_one_out_annualized": 0.025724474402657967,
    "q2_weakest_leave_one_out_symbol": "SPY",
    "recent_q2_minus_q1_annualized": 0.02928927565121043
  },
  "method": "Re-run the frozen engine at the pinned commit against matrix.json and b6_costs.py; retain context-only reads that do not alter the frozen verdict.",
  "no_new_trading_result": true,
  "q1_2x_cost": {
    "annualized_excess": 0.022440329979715828,
    "max_drawdown": -0.4156002480235611,
    "n_months": 389,
    "t_stat": 1.4507700937637036
  },
  "q2_2x_cost": {
    "annualized_excess": 0.035267802459088664,
    "max_drawdown": -0.12588938108901238,
    "n_months": 389,
    "t_stat": 3.3348427222748027
  },
  "q2_zero_cash": {
    "annualized_excess": 0.021041374635486013,
    "max_drawdown": -0.25060219053843846,
    "n_months": 389,
    "t_stat": 1.967806731093144
  },
  "receipt_id": "assay-004-tsmom-multiasset-1993-2026-v1",
  "source": {
    "cost_table_sha256": "2533871b5365d2cd8fb7d9466ca3fd805c07e82d89c4792112b2a3ebab5d8bac",
    "evidence_engine_commit": "f9b0694f4ce61d475da7aca4e7b4eb2403fdfe9a",
    "manifest_sha256": "1e9979758b54c646a1c0917f46b66e9e8be42538dd9c96d6c5a621a89b9f3541",
    "matrix_sha256": "184b98b17ecdfb950b1fa65b4c862547bb82b99667aced89d395331c9391a463",
    "result_sha256": "627043de0b03035b721529ab7edbba56145d296cc465a0ff6667bb495b61885f"
  },
  "verdict_unchanged": true
}