{
  "initial_16_rules_declared_before_first_results": true,
  "initial_design_preserved": "initial_declared_design.json",
  "supplements_after_initial_results": [
    "gold cap10 already used in prior preference comparisons",
    "CSI300 no-timing buy-hold and vol25 controls to avoid a weak trend comparator",
    "faithful former40 frozen rule transplant to pure sector universe, top1 and top3, all ETF ranking, no positive-score requirement, risk after defense",
    "former40 cap10 and positive-score-only controls; preserve the original and primary independently"
  ],
  "all_history_previously_seen": true,
  "primary": "riskmom60_top3_cash",
  "rules": [
    {
      "name": "price60_top1_cash",
      "signal": "price60",
      "top": 1,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "price60_top1_gold",
      "signal": "price60",
      "top": 1,
      "defense": "gold",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "price60_top3_cash",
      "signal": "price60",
      "top": 3,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "price60_top3_gold",
      "signal": "price60",
      "top": 3,
      "defense": "gold",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "riskmom60_top1_cash",
      "signal": "riskmom60",
      "top": 1,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "riskmom60_top1_gold",
      "signal": "riskmom60",
      "top": 1,
      "defense": "gold",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "riskmom60_top3_cash",
      "signal": "riskmom60",
      "top": 3,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "riskmom60_top3_gold",
      "signal": "riskmom60",
      "top": 3,
      "defense": "gold",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "regression40_top1_cash",
      "signal": "regression40",
      "top": 1,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "regression40_top1_gold",
      "signal": "regression40",
      "top": 1,
      "defense": "gold",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "regression40_top3_cash",
      "signal": "regression40",
      "top": 3,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "regression40_top3_gold",
      "signal": "regression40",
      "top": 3,
      "defense": "gold",
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "broad_index_cash",
      "signal": "price60",
      "top": 1,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "kind": "index"
    },
    {
      "name": "broad_index_gold",
      "signal": "price60",
      "top": 1,
      "defense": "gold",
      "vol": 0.25,
      "market_gate": true,
      "kind": "index"
    },
    {
      "name": "primary_no_vol",
      "signal": "riskmom60",
      "top": 3,
      "defense": "cash",
      "vol": 0.0,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "primary_no_market_gate",
      "signal": "riskmom60",
      "top": 3,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": false,
      "kind": "sector"
    },
    {
      "name": "riskmom60_top3_gold10",
      "signal": "riskmom60",
      "top": 3,
      "defense": "gold",
      "gold_cap": 0.1,
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "regression40_top1_gold10",
      "signal": "regression40",
      "top": 1,
      "defense": "gold",
      "gold_cap": 0.1,
      "vol": 0.25,
      "market_gate": true,
      "kind": "sector"
    },
    {
      "name": "broad_hold_cash",
      "signal": "price60",
      "top": 1,
      "defense": "cash",
      "vol": 0.0,
      "market_gate": false,
      "require_positive": false,
      "kind": "index"
    },
    {
      "name": "broad_hold_vol25",
      "signal": "price60",
      "top": 1,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": false,
      "require_positive": false,
      "kind": "index"
    },
    {
      "name": "legacy40_top1_cash",
      "signal": "regression40",
      "top": 1,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "kind": "legacy"
    },
    {
      "name": "legacy40_top1_gold",
      "signal": "regression40",
      "top": 1,
      "defense": "gold",
      "vol": 0.25,
      "market_gate": true,
      "kind": "legacy"
    },
    {
      "name": "legacy40_top3_cash",
      "signal": "regression40",
      "top": 3,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "kind": "legacy"
    },
    {
      "name": "legacy40_top3_gold",
      "signal": "regression40",
      "top": 3,
      "defense": "gold",
      "vol": 0.25,
      "market_gate": true,
      "kind": "legacy"
    },
    {
      "name": "legacy40_top1_gold10",
      "signal": "regression40",
      "top": 1,
      "defense": "gold",
      "gold_cap": 0.1,
      "vol": 0.25,
      "market_gate": true,
      "kind": "legacy"
    },
    {
      "name": "legacy40_positive_top1_cash",
      "signal": "regression40",
      "top": 1,
      "defense": "cash",
      "vol": 0.25,
      "market_gate": true,
      "positive_only": true,
      "kind": "legacy"
    }
  ],
  "reason_primary": "User asks for A-only industry strategy using trend and standard deviation. Risk-adjusted60, three different groups, cash default fixed by interpretation and prior low-gold preference, not a return ranking.",
  "scope": "Domestic industry/theme ETF groups only, excluding red-dividend defensive style and AH/foreign funds. Current coarse classifications are not archived historical taxonomy.",
  "windows_not_searched": [
    40,
    60,
    120
  ],
  "eligibility": "200 observed tradable quotes, prior20-session average turnover >=10m RMB, listed and not delisted at signal. Representative by past120 ADV before momentum.",
  "score": "price60, price60/max(annualized daily-return std60,5%), log-price regression40 slope*244*R2; positive own score required.",
  "gate": "CSI300 actual CNY ETF total-return level > MA120 at signal.",
  "risk": "Target equity basket std60*sqrt244, shrink to <=25%, no leverage; apply before gold/cash defense. Gold account risk is NOT capped at25%.",
  "gold": "All unused equity and sizing budget to gold when eligible; can be 100%. Cash otherwise. Actual equity weights drift differently between the two accounts.",
  "execution": "Month-end known close -> next Chinese close; quote absence waits, latest monthly target replaces unfilled target. Cash interest0, costs .002 each trade side.",
  "period": [
    "20190102",
    "20260811"
  ],
  "not_oos": "No untouched recent holdout exists; no parameter promotion based on 2024+.",
  "stress": [
    "cost .005",
    "month-end offset2",
    "offset5",
    "cost .005 AND offset5"
  ],
  "sensitivity": [
    "vol20",
    "mom90 same primary family",
    "pre2019 listed sector pool",
    "primary all ETF ranking before group dedup"
  ]
}