{
  "design": {
    "created_before_results": true,
    "all_history_previously_seen": true,
    "families": [
      "broad_slots",
      "industry_slots",
      "broad_winner"
    ],
    "defenses": [
      "cash",
      "gold",
      "gold_trend"
    ],
    "window_choices_not_searched": [
      60,
      120
    ],
    "selection": "No winner selected by return. Broad slots is the simplest reference; industry and concentration are mechanism comparisons.",
    "weights": "Broad and industry slots: each country 1/3, missing budget stays in defense. Winner: 100% strongest qualified broad index.",
    "signals": "Own CNY market-price total-return level > MA120. Industry representative chosen by past ADV120 before positive60 momentum ranking. Winner positive60 momentum.",
    "execution": "Monthly known close, next Chinese close; 200 observed quotes, ADV20 >=10m RMB. QDII previous-visible NAV deviation <=5%, known NAV age <=7 calendar days; guard net buys.",
    "gold": "Same 200 quote / ADV20 rule; trend defense uses gold own MA120. Unconditional gold never receives funds if not quote/liquidity eligible.",
    "cost_each_side": 0.002,
    "cash_interest": 0,
    "no_leverage": true,
    "no_volatility_overlay": true,
    "same_equity_signal_targets_within_family": true,
    "not_oos": "Rules specified after inspecting earlier history. Current metadata classification and provider historical revisions remain limitations.",
    "period": [
      "20190102",
      "20260811"
    ]
  },
  "results": {
    "broad_slots_cash": {
      "full": {
        "cagr": 9.16,
        "sharpe": 0.974,
        "mdd": -9.74,
        "vol": 9.46,
        "days": 1845,
        "end": 1.9403
      },
      "train": {
        "cagr": 10.33,
        "sharpe": 1.195,
        "mdd": -6.3,
        "vol": 8.53,
        "days": 730,
        "end": 1.3419
      },
      "validation": {
        "cagr": -0.39,
        "sharpe": -0.018,
        "mdd": -9.43,
        "vol": 7.26,
        "days": 484,
        "end": 0.9923
      },
      "recent": {
        "cagr": 15.67,
        "sharpe": 1.302,
        "mdd": -7.55,
        "vol": 11.71,
        "days": 631,
        "end": 1.4573
      },
      "pre2024": {
        "cagr": 5.92,
        "sharpe": 0.755,
        "mdd": -9.74,
        "vol": 8.05,
        "days": 1214,
        "end": 1.3315
      },
      "annual_turnover": 2.76,
      "mean_exposure": 0.458,
      "max_frozen": 0.3277916787831633,
      "mean_gold_pct": 0.0,
      "max_drifted_gold_pct": 0.0,
      "mean_cash_pct": 54.24,
      "blocked_sessions": 24,
      "yearly_returns_pct": {
        "2019": 8.7,
        "2020": 20.0,
        "2021": 2.87,
        "2022": -7.15,
        "2023": 6.87,
        "2024": 8.02,
        "2025": 22.96,
        "2026": 9.71
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": -0.041154,
          "美国": 0.507711,
          "日本": 0.238063,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.041754
        },
        "pre2024": {
          "A股行业": -0.030065,
          "美国": 0.309008,
          "日本": 0.030943,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.023574
        },
        "recent": {
          "A股行业": -0.011089,
          "美国": 0.198703,
          "日本": 0.207121,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.01818
        }
      },
      "execution_dates": [
        "20190102",
        "20190201",
        "20190301",
        "20190401",
        "20190506",
        "20190603",
        "20190701",
        "20190801",
        "20190902",
        "20191008",
        "20191101",
        "20191202",
        "20200102",
        "20200203",
        "20200302",
        "20200401",
        "20200506",
        "20200601",
        "20200701",
        "20200803",
        "20200901",
        "20201009",
        "20201102",
        "20201204",
        "20210104",
        "20210201",
        "20210301",
        "20210401",
        "20210511",
        "20210601",
        "20210701",
        "20210802",
        "20210901",
        "20211013",
        "20211101",
        "20211201",
        "20220104",
        "20220207",
        "20220301",
        "20220401",
        "20220505",
        "20220601",
        "20220701",
        "20220801",
        "20220901",
        "20221010",
        "20221101",
        "20221201",
        "20230103",
        "20230201",
        "20230301",
        "20230403",
        "20230504",
        "20230601",
        "20230703",
        "20230801",
        "20230901",
        "20231012",
        "20231101",
        "20231201",
        "20240102",
        "20240201",
        "20240301",
        "20240401",
        "20240509",
        "20240603",
        "20240701",
        "20240802",
        "20240902",
        "20241008",
        "20241101",
        "20241202",
        "20250102",
        "20250210",
        "20250303",
        "20250401",
        "20250506",
        "20250603",
        "20250701",
        "20250801",
        "20250901",
        "20251009",
        "20251103",
        "20251201",
        "20260105",
        "20260202",
        "20260302",
        "20260401",
        "20260513",
        "20260601",
        "20260701",
        "20260803"
      ],
      "joint_cost50_offset5": {
        "cagr": 8.48,
        "sharpe": 0.942,
        "mdd": -14.81,
        "vol": 9.08,
        "days": 1845,
        "end": 1.8502
      },
      "cost50_only": {
        "cagr": 8.17,
        "sharpe": 0.877,
        "mdd": -10.93,
        "vol": 9.47,
        "days": 1845,
        "end": 1.8115
      },
      "offset5_only": {
        "cagr": 9.3,
        "sharpe": 1.024,
        "mdd": -13.79,
        "vol": 9.08,
        "days": 1845,
        "end": 1.9587
      }
    },
    "broad_slots_gold": {
      "full": {
        "cagr": 16.07,
        "sharpe": 1.133,
        "mdd": -19.83,
        "vol": 14.03,
        "days": 1845,
        "end": 3.0861
      },
      "train": {
        "cagr": 14.32,
        "sharpe": 1.146,
        "mdd": -11.69,
        "vol": 12.34,
        "days": 730,
        "end": 1.4924
      },
      "validation": {
        "cagr": 6.35,
        "sharpe": 0.609,
        "mdd": -11.41,
        "vol": 11.13,
        "days": 484,
        "end": 1.13
      },
      "recent": {
        "cagr": 26.32,
        "sharpe": 1.428,
        "mdd": -19.83,
        "vol": 17.44,
        "days": 631,
        "end": 1.83
      },
      "pre2024": {
        "cagr": 11.08,
        "sharpe": 0.944,
        "mdd": -11.69,
        "vol": 11.87,
        "days": 1214,
        "end": 1.6864
      },
      "annual_turnover": 5.4,
      "mean_exposure": 1.0,
      "max_frozen": 0.3267442666405064,
      "mean_gold_pct": 54.35,
      "max_drifted_gold_pct": 100.0,
      "mean_cash_pct": 0.0,
      "blocked_sessions": 25,
      "yearly_returns_pct": {
        "2019": 15.52,
        "2020": 26.44,
        "2021": 2.17,
        "2022": 0.43,
        "2023": 12.52,
        "2024": 22.27,
        "2025": 42.78,
        "2026": 4.82
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": -0.013217,
          "美国": 0.507328,
          "日本": 0.226866,
          "黄金": 0.487648,
          "国债": 0.0,
          "费用": -0.081702
        },
        "pre2024": {
          "A股行业": -0.031472,
          "美国": 0.307747,
          "日本": 0.017026,
          "黄金": 0.276506,
          "国债": 0.0,
          "费用": -0.047202
        },
        "recent": {
          "A股行业": 0.018255,
          "美国": 0.199581,
          "日本": 0.20984,
          "黄金": 0.211142,
          "国债": 0.0,
          "费用": -0.0345
        }
      },
      "execution_dates": [
        "20190102",
        "20190201",
        "20190301",
        "20190401",
        "20190506",
        "20190603",
        "20190701",
        "20190801",
        "20190902",
        "20191008",
        "20191101",
        "20191202",
        "20200102",
        "20200203",
        "20200302",
        "20200401",
        "20200506",
        "20200601",
        "20200701",
        "20200803",
        "20200901",
        "20201009",
        "20201102",
        "20201204",
        "20210104",
        "20210201",
        "20210301",
        "20210401",
        "20210511",
        "20210601",
        "20210701",
        "20210802",
        "20210901",
        "20211013",
        "20211101",
        "20211201",
        "20220104",
        "20220207",
        "20220301",
        "20220401",
        "20220505",
        "20220601",
        "20220701",
        "20220801",
        "20220901",
        "20221010",
        "20221101",
        "20221201",
        "20230103",
        "20230201",
        "20230301",
        "20230403",
        "20230509",
        "20230601",
        "20230703",
        "20230801",
        "20230901",
        "20231009",
        "20231101",
        "20231201",
        "20240102",
        "20240201",
        "20240301",
        "20240401",
        "20240509",
        "20240603",
        "20240701",
        "20240802",
        "20240902",
        "20241009",
        "20241101",
        "20241202",
        "20250102",
        "20250210",
        "20250303",
        "20250401",
        "20250506",
        "20250603",
        "20250701",
        "20250801",
        "20250901",
        "20251009",
        "20251103",
        "20251201",
        "20260105",
        "20260202",
        "20260302",
        "20260401",
        "20260513",
        "20260601",
        "20260701",
        "20260803"
      ],
      "joint_cost50_offset5": {
        "cagr": 15.28,
        "sharpe": 1.117,
        "mdd": -18.8,
        "vol": 13.56,
        "days": 1845,
        "end": 2.9302
      },
      "cost50_only": {
        "cagr": 14.21,
        "sharpe": 1.016,
        "mdd": -20.32,
        "vol": 14.05,
        "days": 1845,
        "end": 2.7305
      },
      "offset5_only": {
        "cagr": 17.0,
        "sharpe": 1.227,
        "mdd": -17.31,
        "vol": 13.55,
        "days": 1845,
        "end": 3.2781
      }
    },
    "broad_slots_gold_trend": {
      "full": {
        "cagr": 13.79,
        "sharpe": 1.039,
        "mdd": -19.83,
        "vol": 13.3,
        "days": 1845,
        "end": 2.6563
      },
      "train": {
        "cagr": 12.47,
        "sharpe": 1.094,
        "mdd": -11.69,
        "vol": 11.32,
        "days": 730,
        "end": 1.4213
      },
      "validation": {
        "cagr": 3.13,
        "sharpe": 0.347,
        "mdd": -11.41,
        "vol": 10.43,
        "days": 484,
        "end": 1.063
      },
      "recent": {
        "cagr": 24.38,
        "sharpe": 1.378,
        "mdd": -19.83,
        "vol": 16.88,
        "days": 631,
        "end": 1.7582
      },
      "pre2024": {
        "cagr": 8.65,
        "sharpe": 0.811,
        "mdd": -14.64,
        "vol": 10.98,
        "days": 1214,
        "end": 1.5108
      },
      "annual_turnover": 5.61,
      "mean_exposure": 0.858,
      "max_frozen": 0.3267442666405064,
      "mean_gold_pct": 40.19,
      "max_drifted_gold_pct": 100.0,
      "mean_cash_pct": 14.16,
      "blocked_sessions": 25,
      "yearly_returns_pct": {
        "2019": 11.11,
        "2020": 29.43,
        "2021": -1.16,
        "2022": -5.53,
        "2023": 12.52,
        "2024": 22.27,
        "2025": 42.78,
        "2026": 0.71
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": -0.013201,
          "美国": 0.507699,
          "日本": 0.226476,
          "黄金": 0.340808,
          "国债": 0.0,
          "费用": -0.084858
        },
        "pre2024": {
          "A股行业": -0.030942,
          "美国": 0.308123,
          "日本": 0.017026,
          "黄金": 0.170859,
          "国债": 0.0,
          "费用": -0.052425
        },
        "recent": {
          "A股行业": 0.01774,
          "美国": 0.199576,
          "日本": 0.20945,
          "黄金": 0.169949,
          "国债": 0.0,
          "费用": -0.032433
        }
      },
      "execution_dates": [
        "20190102",
        "20190201",
        "20190301",
        "20190401",
        "20190506",
        "20190603",
        "20190701",
        "20190801",
        "20190902",
        "20191008",
        "20191101",
        "20191202",
        "20200102",
        "20200203",
        "20200302",
        "20200401",
        "20200506",
        "20200601",
        "20200701",
        "20200803",
        "20200901",
        "20201009",
        "20201102",
        "20201204",
        "20210104",
        "20210201",
        "20210301",
        "20210401",
        "20210511",
        "20210601",
        "20210701",
        "20210802",
        "20210901",
        "20211013",
        "20211101",
        "20211201",
        "20220104",
        "20220207",
        "20220301",
        "20220401",
        "20220505",
        "20220601",
        "20220701",
        "20220801",
        "20220901",
        "20221010",
        "20221101",
        "20221201",
        "20230103",
        "20230201",
        "20230301",
        "20230403",
        "20230509",
        "20230601",
        "20230703",
        "20230801",
        "20230901",
        "20231009",
        "20231101",
        "20231201",
        "20240102",
        "20240201",
        "20240301",
        "20240401",
        "20240509",
        "20240603",
        "20240701",
        "20240802",
        "20240902",
        "20241009",
        "20241101",
        "20241202",
        "20250102",
        "20250210",
        "20250303",
        "20250401",
        "20250506",
        "20250603",
        "20250701",
        "20250801",
        "20250901",
        "20251009",
        "20251103",
        "20251201",
        "20260105",
        "20260202",
        "20260302",
        "20260401",
        "20260513",
        "20260601",
        "20260701",
        "20260803"
      ]
    },
    "industry_slots_cash": {
      "full": {
        "cagr": 9.4,
        "sharpe": 0.654,
        "mdd": -31.12,
        "vol": 15.6,
        "days": 1845,
        "end": 1.9721
      },
      "train": {
        "cagr": 7.6,
        "sharpe": 0.606,
        "mdd": -17.18,
        "vol": 13.62,
        "days": 730,
        "end": 1.245
      },
      "validation": {
        "cagr": -6.64,
        "sharpe": -0.436,
        "mdd": -19.72,
        "vol": 13.64,
        "days": 484,
        "end": 0.8725
      },
      "recent": {
        "cagr": 25.94,
        "sharpe": 1.321,
        "mdd": -17.16,
        "vol": 18.8,
        "days": 631,
        "end": 1.8155
      },
      "pre2024": {
        "cagr": 1.68,
        "sharpe": 0.19,
        "mdd": -31.12,
        "vol": 13.63,
        "days": 1214,
        "end": 1.0863
      },
      "annual_turnover": 6.7,
      "mean_exposure": 0.6,
      "max_frozen": 0.3301425543988048,
      "mean_gold_pct": 0.0,
      "max_drifted_gold_pct": 0.0,
      "mean_cash_pct": 40.04,
      "blocked_sessions": 24,
      "yearly_returns_pct": {
        "2019": 14.25,
        "2020": 22.14,
        "2021": -10.78,
        "2022": -19.15,
        "2023": 7.92,
        "2024": 16.1,
        "2025": 48.82,
        "2026": 5.08
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": 0.037138,
          "美国": 0.512277,
          "日本": 0.231133,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.101434
        },
        "pre2024": {
          "A股行业": -0.179638,
          "美国": 0.312239,
          "日本": 0.017202,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.06706
        },
        "recent": {
          "A股行业": 0.216776,
          "美国": 0.200038,
          "日本": 0.21393,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.034374
        }
      },
      "execution_dates": [
        "20190102",
        "20190201",
        "20190301",
        "20190401",
        "20190506",
        "20190603",
        "20190701",
        "20190801",
        "20190902",
        "20191008",
        "20191101",
        "20191202",
        "20200102",
        "20200203",
        "20200302",
        "20200401",
        "20200506",
        "20200601",
        "20200701",
        "20200803",
        "20200901",
        "20201009",
        "20201102",
        "20201204",
        "20210104",
        "20210201",
        "20210301",
        "20210401",
        "20210511",
        "20210601",
        "20210701",
        "20210802",
        "20210901",
        "20211008",
        "20211101",
        "20211201",
        "20220104",
        "20220207",
        "20220301",
        "20220401",
        "20220505",
        "20220601",
        "20220701",
        "20220801",
        "20220901",
        "20221010",
        "20221101",
        "20221201",
        "20230103",
        "20230201",
        "20230301",
        "20230403",
        "20230509",
        "20230601",
        "20230703",
        "20230801",
        "20230901",
        "20231009",
        "20231101",
        "20231201",
        "20240102",
        "20240201",
        "20240301",
        "20240401",
        "20240509",
        "20240603",
        "20240701",
        "20240802",
        "20240902",
        "20241011",
        "20241101",
        "20241202",
        "20250102",
        "20250210",
        "20250303",
        "20250401",
        "20250506",
        "20250603",
        "20250701",
        "20250801",
        "20250901",
        "20251009",
        "20251103",
        "20251201",
        "20260105",
        "20260202",
        "20260302",
        "20260401",
        "20260513",
        "20260601",
        "20260701",
        "20260803"
      ],
      "joint_cost50_offset5": {
        "cagr": 10.97,
        "sharpe": 0.747,
        "mdd": -26.58,
        "vol": 15.56,
        "days": 1845,
        "end": 2.1974
      },
      "cost50_only": {
        "cagr": 7.22,
        "sharpe": 0.524,
        "mdd": -34.23,
        "vol": 15.63,
        "days": 1845,
        "end": 1.6938
      },
      "offset5_only": {
        "cagr": 12.88,
        "sharpe": 0.858,
        "mdd": -24.49,
        "vol": 15.54,
        "days": 1845,
        "end": 2.4997
      }
    },
    "industry_slots_gold": {
      "full": {
        "cagr": 13.4,
        "sharpe": 0.78,
        "mdd": -33.1,
        "vol": 18.25,
        "days": 1845,
        "end": 2.5872
      },
      "train": {
        "cagr": 9.03,
        "sharpe": 0.636,
        "mdd": -23.41,
        "vol": 15.48,
        "days": 730,
        "end": 1.2953
      },
      "validation": {
        "cagr": -2.25,
        "sharpe": -0.075,
        "mdd": -18.68,
        "vol": 15.07,
        "days": 484,
        "end": 0.9559
      },
      "recent": {
        "cagr": 32.97,
        "sharpe": 1.363,
        "mdd": -27.13,
        "vol": 22.84,
        "days": 631,
        "end": 2.0894
      },
      "pre2024": {
        "cagr": 4.39,
        "sharpe": 0.357,
        "mdd": -33.1,
        "vol": 15.32,
        "days": 1214,
        "end": 1.2382
      },
      "annual_turnover": 8.56,
      "mean_exposure": 1.0,
      "max_frozen": 0.3290800889462298,
      "mean_gold_pct": 40.13,
      "max_drifted_gold_pct": 100.0,
      "mean_cash_pct": 0.0,
      "blocked_sessions": 24,
      "yearly_returns_pct": {
        "2019": 20.31,
        "2020": 24.32,
        "2021": -13.4,
        "2022": -15.1,
        "2023": 12.6,
        "2024": 23.97,
        "2025": 70.49,
        "2026": -1.14
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": 0.032073,
          "美国": 0.512421,
          "日本": 0.231691,
          "黄金": 0.303877,
          "国债": 0.0,
          "费用": -0.129494
        },
        "pre2024": {
          "A股行业": -0.183618,
          "美国": 0.311866,
          "日本": 0.017257,
          "黄金": 0.1506,
          "国债": 0.0,
          "费用": -0.08241
        },
        "recent": {
          "A股行业": 0.215691,
          "美国": 0.200555,
          "日本": 0.214434,
          "黄金": 0.153277,
          "国债": 0.0,
          "费用": -0.047083
        }
      },
      "execution_dates": [
        "20190102",
        "20190201",
        "20190301",
        "20190401",
        "20190506",
        "20190603",
        "20190701",
        "20190801",
        "20190902",
        "20191008",
        "20191101",
        "20191202",
        "20200102",
        "20200203",
        "20200302",
        "20200401",
        "20200506",
        "20200601",
        "20200701",
        "20200803",
        "20200901",
        "20201009",
        "20201102",
        "20201204",
        "20210104",
        "20210201",
        "20210301",
        "20210401",
        "20210511",
        "20210601",
        "20210701",
        "20210802",
        "20210901",
        "20211008",
        "20211101",
        "20211201",
        "20220104",
        "20220207",
        "20220301",
        "20220401",
        "20220505",
        "20220601",
        "20220701",
        "20220801",
        "20220901",
        "20221010",
        "20221101",
        "20221201",
        "20230103",
        "20230201",
        "20230301",
        "20230403",
        "20230509",
        "20230601",
        "20230703",
        "20230801",
        "20230901",
        "20231009",
        "20231101",
        "20231201",
        "20240102",
        "20240201",
        "20240301",
        "20240401",
        "20240509",
        "20240603",
        "20240701",
        "20240802",
        "20240902",
        "20241011",
        "20241101",
        "20241202",
        "20250102",
        "20250210",
        "20250303",
        "20250401",
        "20250506",
        "20250603",
        "20250701",
        "20250801",
        "20250901",
        "20251009",
        "20251103",
        "20251201",
        "20260105",
        "20260202",
        "20260302",
        "20260401",
        "20260513",
        "20260601",
        "20260701",
        "20260803"
      ],
      "joint_cost50_offset5": {
        "cagr": 16.05,
        "sharpe": 0.907,
        "mdd": -25.71,
        "vol": 18.26,
        "days": 1845,
        "end": 3.0813
      },
      "cost50_only": {
        "cagr": 10.52,
        "sharpe": 0.639,
        "mdd": -37.29,
        "vol": 18.29,
        "days": 1845,
        "end": 2.1303
      },
      "offset5_only": {
        "cagr": 18.83,
        "sharpe": 1.037,
        "mdd": -24.36,
        "vol": 18.24,
        "days": 1845,
        "end": 3.6857
      }
    },
    "industry_slots_gold_trend": {
      "full": {
        "cagr": 12.31,
        "sharpe": 0.743,
        "mdd": -34.69,
        "vol": 17.77,
        "days": 1845,
        "end": 2.4065
      },
      "train": {
        "cagr": 8.76,
        "sharpe": 0.644,
        "mdd": -21.78,
        "vol": 14.73,
        "days": 730,
        "end": 1.2855
      },
      "validation": {
        "cagr": -4.37,
        "sharpe": -0.227,
        "mdd": -19.76,
        "vol": 14.85,
        "days": 484,
        "end": 0.9152
      },
      "recent": {
        "cagr": 31.88,
        "sharpe": 1.349,
        "mdd": -27.13,
        "vol": 22.4,
        "days": 631,
        "end": 2.0456
      },
      "pre2024": {
        "cagr": 3.32,
        "sharpe": 0.295,
        "mdd": -34.69,
        "vol": 14.78,
        "days": 1214,
        "end": 1.1764
      },
      "annual_turnover": 8.96,
      "mean_exposure": 0.894,
      "max_frozen": 0.3290800889462298,
      "mean_gold_pct": 29.49,
      "max_drifted_gold_pct": 100.0,
      "mean_cash_pct": 10.63,
      "blocked_sessions": 24,
      "yearly_returns_pct": {
        "2019": 17.01,
        "2020": 27.02,
        "2021": -13.5,
        "2022": -18.72,
        "2023": 12.6,
        "2024": 23.97,
        "2025": 70.49,
        "2026": -3.21
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": 0.034046,
          "美国": 0.512593,
          "日本": 0.231319,
          "黄金": 0.235755,
          "国债": 0.0,
          "费用": -0.135551
        },
        "pre2024": {
          "A股行业": -0.18073,
          "美国": 0.312043,
          "日本": 0.017257,
          "黄金": 0.104015,
          "国债": 0.0,
          "费用": -0.090106
        },
        "recent": {
          "A股行业": 0.214776,
          "美国": 0.20055,
          "日本": 0.214062,
          "黄金": 0.131739,
          "国债": 0.0,
          "费用": -0.045445
        }
      },
      "execution_dates": [
        "20190102",
        "20190201",
        "20190301",
        "20190401",
        "20190506",
        "20190603",
        "20190701",
        "20190801",
        "20190902",
        "20191008",
        "20191101",
        "20191202",
        "20200102",
        "20200203",
        "20200302",
        "20200401",
        "20200506",
        "20200601",
        "20200701",
        "20200803",
        "20200901",
        "20201009",
        "20201102",
        "20201204",
        "20210104",
        "20210201",
        "20210301",
        "20210401",
        "20210511",
        "20210601",
        "20210701",
        "20210802",
        "20210901",
        "20211008",
        "20211101",
        "20211201",
        "20220104",
        "20220207",
        "20220301",
        "20220401",
        "20220505",
        "20220601",
        "20220701",
        "20220801",
        "20220901",
        "20221010",
        "20221101",
        "20221201",
        "20230103",
        "20230201",
        "20230301",
        "20230403",
        "20230509",
        "20230601",
        "20230703",
        "20230801",
        "20230901",
        "20231009",
        "20231101",
        "20231201",
        "20240102",
        "20240201",
        "20240301",
        "20240401",
        "20240509",
        "20240603",
        "20240701",
        "20240802",
        "20240902",
        "20241011",
        "20241101",
        "20241202",
        "20250102",
        "20250210",
        "20250303",
        "20250401",
        "20250506",
        "20250603",
        "20250701",
        "20250801",
        "20250901",
        "20251009",
        "20251103",
        "20251201",
        "20260105",
        "20260202",
        "20260302",
        "20260401",
        "20260513",
        "20260601",
        "20260701",
        "20260803"
      ]
    },
    "broad_winner_cash": {
      "full": {
        "cagr": 8.89,
        "sharpe": 0.573,
        "mdd": -29.08,
        "vol": 17.56,
        "days": 1845,
        "end": 1.9045
      },
      "train": {
        "cagr": 21.9,
        "sharpe": 1.255,
        "mdd": -15.12,
        "vol": 16.93,
        "days": 730,
        "end": 1.8086
      },
      "validation": {
        "cagr": 1.02,
        "sharpe": 0.144,
        "mdd": -22.33,
        "vol": 12.46,
        "days": 484,
        "end": 1.0203
      },
      "recent": {
        "cagr": 1.23,
        "sharpe": 0.164,
        "mdd": -29.08,
        "vol": 21.24,
        "days": 631,
        "end": 1.032
      },
      "pre2024": {
        "cagr": 13.1,
        "sharpe": 0.881,
        "mdd": -22.93,
        "vol": 15.31,
        "days": 1214,
        "end": 1.8454
      },
      "annual_turnover": 7.39,
      "mean_exposure": 0.749,
      "max_frozen": 1.0,
      "mean_gold_pct": 0.0,
      "max_drifted_gold_pct": 0.0,
      "mean_cash_pct": 25.09,
      "blocked_sessions": 10,
      "yearly_returns_pct": {
        "2019": 21.24,
        "2020": 26.5,
        "2021": 17.93,
        "2022": -16.42,
        "2023": 22.07,
        "2024": -4.57,
        "2025": 0.53,
        "2026": 7.57
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": -0.144228,
          "美国": 0.662122,
          "日本": 0.23831,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.111987
        },
        "pre2024": {
          "A股行业": 0.06901,
          "美国": 0.539527,
          "日本": 0.058195,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.05403
        },
        "recent": {
          "A股行业": -0.213237,
          "美国": 0.122594,
          "日本": 0.180115,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.057957
        }
      },
      "execution_dates": [
        "20190102",
        "20190201",
        "20190301",
        "20190401",
        "20190506",
        "20190603",
        "20190701",
        "20190801",
        "20190902",
        "20191008",
        "20191101",
        "20191202",
        "20200102",
        "20200203",
        "20200302",
        "20200401",
        "20200506",
        "20200601",
        "20200701",
        "20200803",
        "20200901",
        "20201009",
        "20201102",
        "20201201",
        "20210104",
        "20210201",
        "20210301",
        "20210401",
        "20210511",
        "20210601",
        "20210701",
        "20210802",
        "20210901",
        "20211008",
        "20211101",
        "20211201",
        "20220104",
        "20220207",
        "20220301",
        "20220401",
        "20220505",
        "20220601",
        "20220701",
        "20220801",
        "20220901",
        "20221010",
        "20221101",
        "20221201",
        "20230103",
        "20230201",
        "20230301",
        "20230403",
        "20230504",
        "20230601",
        "20230703",
        "20230801",
        "20230901",
        "20231009",
        "20231101",
        "20231201",
        "20240102",
        "20240201",
        "20240301",
        "20240401",
        "20240506",
        "20240603",
        "20240701",
        "20240801",
        "20240902",
        "20241008",
        "20241101",
        "20241202",
        "20250113",
        "20250205",
        "20250303",
        "20250401",
        "20250506",
        "20250603",
        "20250701",
        "20250801",
        "20250901",
        "20251009",
        "20251103",
        "20251201",
        "20260105",
        "20260202",
        "20260302",
        "20260401",
        "20260506",
        "20260601",
        "20260701",
        "20260803"
      ],
      "joint_cost50_offset5": {
        "cagr": 0.19,
        "sharpe": 0.101,
        "mdd": -35.41,
        "vol": 17.98,
        "days": 1845,
        "end": 1.0144
      },
      "cost50_only": {
        "cagr": 6.5,
        "sharpe": 0.446,
        "mdd": -30.64,
        "vol": 17.64,
        "days": 1845,
        "end": 1.61
      },
      "offset5_only": {
        "cagr": 2.24,
        "sharpe": 0.213,
        "mdd": -30.94,
        "vol": 17.95,
        "days": 1845,
        "end": 1.1822
      }
    },
    "broad_winner_gold": {
      "full": {
        "cagr": 14.25,
        "sharpe": 0.792,
        "mdd": -30.0,
        "vol": 19.16,
        "days": 1845,
        "end": 2.7388
      },
      "train": {
        "cagr": 26.41,
        "sharpe": 1.366,
        "mdd": -15.12,
        "vol": 18.4,
        "days": 730,
        "end": 2.0162
      },
      "validation": {
        "cagr": 9.62,
        "sharpe": 0.695,
        "mdd": -16.26,
        "vol": 14.8,
        "days": 484,
        "end": 1.1999
      },
      "recent": {
        "cagr": 4.91,
        "sharpe": 0.325,
        "mdd": -30.0,
        "vol": 22.67,
        "days": 631,
        "end": 1.1321
      },
      "pre2024": {
        "cagr": 19.43,
        "sharpe": 1.127,
        "mdd": -16.91,
        "vol": 17.05,
        "days": 1214,
        "end": 2.4193
      },
      "annual_turnover": 9.92,
      "mean_exposure": 1.0,
      "max_frozen": 1.0,
      "mean_gold_pct": 25.09,
      "max_drifted_gold_pct": 100.0,
      "mean_cash_pct": 0.0,
      "blocked_sessions": 10,
      "yearly_returns_pct": {
        "2019": 20.28,
        "2020": 36.57,
        "2021": 22.74,
        "2022": -7.51,
        "2023": 29.74,
        "2024": -4.57,
        "2025": 6.12,
        "2026": 11.79
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": -0.144152,
          "美国": 0.662176,
          "日本": 0.23831,
          "黄金": 0.401383,
          "国债": 0.0,
          "费用": -0.150187
        },
        "pre2024": {
          "A股行业": 0.069082,
          "美国": 0.539582,
          "日本": 0.058195,
          "黄金": 0.298791,
          "国债": 0.0,
          "费用": -0.082175
        },
        "recent": {
          "A股行业": -0.213234,
          "美国": 0.122594,
          "日本": 0.180115,
          "黄金": 0.102592,
          "国债": 0.0,
          "费用": -0.068011
        }
      },
      "execution_dates": [
        "20190102",
        "20190201",
        "20190301",
        "20190401",
        "20190506",
        "20190603",
        "20190701",
        "20190801",
        "20190902",
        "20191008",
        "20191101",
        "20191202",
        "20200102",
        "20200203",
        "20200302",
        "20200401",
        "20200506",
        "20200601",
        "20200701",
        "20200803",
        "20200901",
        "20201009",
        "20201102",
        "20201201",
        "20210104",
        "20210201",
        "20210301",
        "20210401",
        "20210511",
        "20210601",
        "20210701",
        "20210802",
        "20210901",
        "20211008",
        "20211101",
        "20211201",
        "20220104",
        "20220207",
        "20220301",
        "20220401",
        "20220505",
        "20220601",
        "20220701",
        "20220801",
        "20220901",
        "20221010",
        "20221101",
        "20221201",
        "20230103",
        "20230201",
        "20230301",
        "20230403",
        "20230504",
        "20230601",
        "20230703",
        "20230801",
        "20230901",
        "20231009",
        "20231101",
        "20231201",
        "20240102",
        "20240201",
        "20240301",
        "20240401",
        "20240506",
        "20240603",
        "20240701",
        "20240801",
        "20240902",
        "20241008",
        "20241101",
        "20241202",
        "20250113",
        "20250205",
        "20250303",
        "20250401",
        "20250506",
        "20250603",
        "20250701",
        "20250801",
        "20250901",
        "20251009",
        "20251103",
        "20251201",
        "20260105",
        "20260202",
        "20260302",
        "20260401",
        "20260506",
        "20260601",
        "20260701",
        "20260803"
      ],
      "joint_cost50_offset5": {
        "cagr": 4.3,
        "sharpe": 0.309,
        "mdd": -29.14,
        "vol": 20.34,
        "days": 1845,
        "end": 1.3748
      },
      "cost50_only": {
        "cagr": 10.9,
        "sharpe": 0.635,
        "mdd": -32.07,
        "vol": 19.23,
        "days": 1845,
        "end": 2.187
      },
      "offset5_only": {
        "cagr": 7.36,
        "sharpe": 0.453,
        "mdd": -26.98,
        "vol": 20.26,
        "days": 1845,
        "end": 1.7113
      }
    },
    "broad_winner_gold_trend": {
      "full": {
        "cagr": 11.74,
        "sharpe": 0.68,
        "mdd": -30.0,
        "vol": 18.97,
        "days": 1845,
        "end": 2.3142
      },
      "train": {
        "cagr": 24.74,
        "sharpe": 1.3,
        "mdd": -15.12,
        "vol": 18.29,
        "days": 730,
        "end": 1.9373
      },
      "validation": {
        "cagr": 6.22,
        "sharpe": 0.493,
        "mdd": -17.73,
        "vol": 14.31,
        "days": 484,
        "end": 1.1271
      },
      "recent": {
        "cagr": 2.27,
        "sharpe": 0.213,
        "mdd": -30.0,
        "vol": 22.55,
        "days": 631,
        "end": 1.0598
      },
      "pre2024": {
        "cagr": 17.0,
        "sharpe": 1.018,
        "mdd": -18.37,
        "vol": 16.82,
        "days": 1214,
        "end": 2.1836
      },
      "annual_turnover": 9.52,
      "mean_exposure": 0.942,
      "max_frozen": 1.0,
      "mean_gold_pct": 19.3,
      "max_drifted_gold_pct": 100.0,
      "mean_cash_pct": 5.8,
      "blocked_sessions": 10,
      "yearly_returns_pct": {
        "2019": 20.28,
        "2020": 36.57,
        "2021": 17.93,
        "2022": -13.12,
        "2023": 29.74,
        "2024": -4.57,
        "2025": 6.12,
        "2026": 4.65
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": -0.144157,
          "美国": 0.662136,
          "日本": 0.23831,
          "黄金": 0.226935,
          "国债": 0.0,
          "费用": -0.144147
        },
        "pre2024": {
          "A股行业": 0.069065,
          "美国": 0.539542,
          "日本": 0.058195,
          "黄金": 0.192313,
          "国债": 0.0,
          "费用": -0.078122
        },
        "recent": {
          "A股行业": -0.213222,
          "美国": 0.122594,
          "日本": 0.180115,
          "黄金": 0.034621,
          "国债": 0.0,
          "费用": -0.066025
        }
      },
      "execution_dates": [
        "20190102",
        "20190201",
        "20190301",
        "20190401",
        "20190506",
        "20190603",
        "20190701",
        "20190801",
        "20190902",
        "20191008",
        "20191101",
        "20191202",
        "20200102",
        "20200203",
        "20200302",
        "20200401",
        "20200506",
        "20200601",
        "20200701",
        "20200803",
        "20200901",
        "20201009",
        "20201102",
        "20201201",
        "20210104",
        "20210201",
        "20210301",
        "20210401",
        "20210511",
        "20210601",
        "20210701",
        "20210802",
        "20210901",
        "20211008",
        "20211101",
        "20211201",
        "20220104",
        "20220207",
        "20220301",
        "20220401",
        "20220505",
        "20220601",
        "20220701",
        "20220801",
        "20220901",
        "20221010",
        "20221101",
        "20221201",
        "20230103",
        "20230201",
        "20230301",
        "20230403",
        "20230504",
        "20230601",
        "20230703",
        "20230801",
        "20230901",
        "20231009",
        "20231101",
        "20231201",
        "20240102",
        "20240201",
        "20240301",
        "20240401",
        "20240506",
        "20240603",
        "20240701",
        "20240801",
        "20240902",
        "20241008",
        "20241101",
        "20241202",
        "20250113",
        "20250205",
        "20250303",
        "20250401",
        "20250506",
        "20250603",
        "20250701",
        "20250801",
        "20250901",
        "20251009",
        "20251103",
        "20251201",
        "20260105",
        "20260202",
        "20260302",
        "20260401",
        "20260506",
        "20260601",
        "20260701",
        "20260803"
      ]
    },
    "gold_buy_hold": {
      "full": {
        "cagr": 16.48,
        "sharpe": 0.999,
        "mdd": -30.52,
        "vol": 16.68,
        "days": 1845,
        "end": 3.1692
      },
      "train": {
        "cagr": 8.64,
        "sharpe": 0.631,
        "mdd": -20.47,
        "vol": 14.89,
        "days": 730,
        "end": 1.2815
      },
      "validation": {
        "cagr": 13.07,
        "sharpe": 1.209,
        "mdd": -11.38,
        "vol": 10.62,
        "days": 484,
        "end": 1.2759
      },
      "recent": {
        "cagr": 29.16,
        "sharpe": 1.29,
        "mdd": -30.52,
        "vol": 21.7,
        "days": 631,
        "end": 1.9383
      },
      "pre2024": {
        "cagr": 10.39,
        "sharpe": 0.807,
        "mdd": -20.47,
        "vol": 13.35,
        "days": 1214,
        "end": 1.6351
      },
      "annual_turnover": 0.13,
      "mean_exposure": 1.0,
      "max_frozen": 0.0,
      "mean_gold_pct": 100.0,
      "max_drifted_gold_pct": 100.0,
      "mean_cash_pct": 0.0,
      "blocked_sessions": 0,
      "yearly_returns_pct": {
        "2019": 19.04,
        "2020": 13.77,
        "2021": -5.38,
        "2022": 9.42,
        "2023": 16.61,
        "2024": 27.54,
        "2025": 56.9,
        "2026": -3.14
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": 0.0,
          "美国": 0.0,
          "日本": 0.0,
          "黄金": 1.155477,
          "国债": 0.0,
          "费用": -0.001998
        },
        "pre2024": {
          "A股行业": 0.0,
          "美国": 0.0,
          "日本": 0.0,
          "黄金": 0.49369,
          "国债": 0.0,
          "费用": -0.001998
        },
        "recent": {
          "A股行业": 0.0,
          "美国": 0.0,
          "日本": 0.0,
          "黄金": 0.661787,
          "国债": 0.0,
          "费用": 0.0
        }
      }
    },
    "cash_hold": {
      "full": {
        "cagr": 0.0,
        "sharpe": 0,
        "mdd": 0.0,
        "vol": 0.0,
        "days": 1845,
        "end": 1.0
      },
      "train": {
        "cagr": 0.0,
        "sharpe": 0,
        "mdd": 0.0,
        "vol": 0.0,
        "days": 730,
        "end": 1.0
      },
      "validation": {
        "cagr": 0.0,
        "sharpe": 0,
        "mdd": 0.0,
        "vol": 0.0,
        "days": 484,
        "end": 1.0
      },
      "recent": {
        "cagr": 0.0,
        "sharpe": 0,
        "mdd": 0.0,
        "vol": 0.0,
        "days": 631,
        "end": 1.0
      },
      "pre2024": {
        "cagr": 0.0,
        "sharpe": 0,
        "mdd": 0.0,
        "vol": 0.0,
        "days": 1214,
        "end": 1.0
      },
      "annual_turnover": 0.0,
      "mean_exposure": 0.0,
      "max_frozen": 0.0,
      "mean_gold_pct": 0.0,
      "max_drifted_gold_pct": 0.0,
      "mean_cash_pct": 100.0,
      "blocked_sessions": 0,
      "yearly_returns_pct": {
        "2019": 0.0,
        "2020": 0.0,
        "2021": 0.0,
        "2022": 0.0,
        "2023": 0.0,
        "2024": 0.0,
        "2025": 0.0,
        "2026": 0.0
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": 0.0,
          "美国": 0.0,
          "日本": 0.0,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": 0.0
        },
        "pre2024": {
          "A股行业": 0.0,
          "美国": 0.0,
          "日本": 0.0,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": 0.0
        },
        "recent": {
          "A股行业": 0.0,
          "美国": 0.0,
          "日本": 0.0,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": 0.0
        }
      }
    },
    "broad_slots_no_trend": {
      "full": {
        "cagr": 17.09,
        "sharpe": 1.294,
        "mdd": -16.92,
        "vol": 12.84,
        "days": 1845,
        "end": 3.2962
      },
      "train": {
        "cagr": 19.57,
        "sharpe": 1.777,
        "mdd": -7.85,
        "vol": 10.37,
        "days": 730,
        "end": 1.707
      },
      "validation": {
        "cagr": -0.68,
        "sharpe": 0.003,
        "mdd": -16.31,
        "vol": 11.96,
        "days": 484,
        "end": 0.9866
      },
      "recent": {
        "cagr": 29.65,
        "sharpe": 1.732,
        "mdd": -16.63,
        "vol": 15.71,
        "days": 631,
        "end": 1.9573
      },
      "pre2024": {
        "cagr": 11.04,
        "sharpe": 1.004,
        "mdd": -16.92,
        "vol": 11.04,
        "days": 1214,
        "end": 1.6841
      },
      "annual_turnover": 1.46,
      "mean_exposure": 0.724,
      "max_frozen": 0.3277916787831633,
      "mean_gold_pct": 0.0,
      "max_drifted_gold_pct": 0.0,
      "mean_cash_pct": 27.61,
      "blocked_sessions": 32,
      "yearly_returns_pct": {
        "2019": 26.85,
        "2020": 27.31,
        "2021": 5.7,
        "2022": -13.99,
        "2023": 14.7,
        "2024": 19.82,
        "2025": 26.6,
        "2026": 29.03
      },
      "log_pnl_contributions": {
        "full": {
          "A股行业": 0.224055,
          "美国": 0.631086,
          "日本": 0.359702,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.022071
        },
        "pre2024": {
          "A股行业": 0.094467,
          "美国": 0.363834,
          "日本": 0.074133,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.011207
        },
        "recent": {
          "A股行业": 0.129588,
          "美国": 0.267252,
          "日本": 0.285569,
          "黄金": 0.0,
          "国债": 0.0,
          "费用": -0.010864
        }
      }
    }
  },
  "gold_cash_pairs": {
    "broad_slots": {
      "full_cagr_difference_pp": 6.9092,
      "pre2024_cagr_difference_pp": 5.1519,
      "recent_cagr_difference_pp": 10.6499,
      "gold_better_months": 53,
      "cash_better_months": 34,
      "equal_months": 5,
      "yearly": [
        {
          "year": "2019",
          "gold_return_pct": 15.5248,
          "cash_return_pct": 8.7024,
          "difference_pp": 6.8225,
          "partial_year": false
        },
        {
          "year": "2020",
          "gold_return_pct": 26.4399,
          "cash_return_pct": 19.9988,
          "difference_pp": 6.441,
          "partial_year": false
        },
        {
          "year": "2021",
          "gold_return_pct": 2.1725,
          "cash_return_pct": 2.8726,
          "difference_pp": -0.7001,
          "partial_year": false
        },
        {
          "year": "2022",
          "gold_return_pct": 0.4264,
          "cash_return_pct": -7.1508,
          "difference_pp": 7.5771,
          "partial_year": false
        },
        {
          "year": "2023",
          "gold_return_pct": 12.5183,
          "cash_return_pct": 6.8685,
          "difference_pp": 5.6499,
          "partial_year": false
        },
        {
          "year": "2024",
          "gold_return_pct": 22.2703,
          "cash_return_pct": 8.0248,
          "difference_pp": 14.2455,
          "partial_year": false
        },
        {
          "year": "2025",
          "gold_return_pct": 42.7809,
          "cash_return_pct": 22.9574,
          "difference_pp": 19.8234,
          "partial_year": false
        },
        {
          "year": "2026",
          "gold_return_pct": 4.824,
          "cash_return_pct": 9.7129,
          "difference_pp": -4.8888,
          "partial_year": true
        }
      ],
      "rolling36month_cagr_difference": [
        {
          "start": "2019-01",
          "end": "2021-12",
          "annualized_difference_pp": 3.9794
        },
        {
          "start": "2019-02",
          "end": "2022-01",
          "annualized_difference_pp": 3.6766
        },
        {
          "start": "2019-03",
          "end": "2022-02",
          "annualized_difference_pp": 5.4932
        },
        {
          "start": "2019-04",
          "end": "2022-03",
          "annualized_difference_pp": 6.3871
        },
        {
          "start": "2019-05",
          "end": "2022-04",
          "annualized_difference_pp": 7.4608
        },
        {
          "start": "2019-06",
          "end": "2022-05",
          "annualized_difference_pp": 6.4788
        },
        {
          "start": "2019-07",
          "end": "2022-06",
          "annualized_difference_pp": 4.8588
        },
        {
          "start": "2019-08",
          "end": "2022-07",
          "annualized_difference_pp": 3.9937
        },
        {
          "start": "2019-09",
          "end": "2022-08",
          "annualized_difference_pp": 2.7777
        },
        {
          "start": "2019-10",
          "end": "2022-09",
          "annualized_difference_pp": 3.4205
        },
        {
          "start": "2019-11",
          "end": "2022-10",
          "annualized_difference_pp": 3.7426
        },
        {
          "start": "2019-12",
          "end": "2022-11",
          "annualized_difference_pp": 4.9255
        },
        {
          "start": "2020-01",
          "end": "2022-12",
          "annualized_difference_pp": 4.4128
        },
        {
          "start": "2020-02",
          "end": "2023-01",
          "annualized_difference_pp": 5.0519
        },
        {
          "start": "2020-03",
          "end": "2023-02",
          "annualized_difference_pp": 3.7837
        },
        {
          "start": "2020-04",
          "end": "2023-03",
          "annualized_difference_pp": 4.7096
        },
        {
          "start": "2020-05",
          "end": "2023-04",
          "annualized_difference_pp": 3.1744
        },
        {
          "start": "2020-06",
          "end": "2023-05",
          "annualized_difference_pp": 2.2516
        },
        {
          "start": "2020-07",
          "end": "2023-06",
          "annualized_difference_pp": 1.8537
        },
        {
          "start": "2020-08",
          "end": "2023-07",
          "annualized_difference_pp": 1.8907
        },
        {
          "start": "2020-09",
          "end": "2023-08",
          "annualized_difference_pp": 1.8257
        },
        {
          "start": "2020-10",
          "end": "2023-09",
          "annualized_difference_pp": 2.8164
        },
        {
          "start": "2020-11",
          "end": "2023-10",
          "annualized_difference_pp": 3.7681
        },
        {
          "start": "2020-12",
          "end": "2023-11",
          "annualized_difference_pp": 5.1368
        },
        {
          "start": "2021-01",
          "end": "2023-12",
          "annualized_difference_pp": 4.2188
        },
        {
          "start": "2021-02",
          "end": "2024-01",
          "annualized_difference_pp": 4.4945
        },
        {
          "start": "2021-03",
          "end": "2024-02",
          "annualized_difference_pp": 5.6379
        },
        {
          "start": "2021-04",
          "end": "2024-03",
          "annualized_difference_pp": 7.759
        },
        {
          "start": "2021-05",
          "end": "2024-04",
          "annualized_difference_pp": 7.0336
        },
        {
          "start": "2021-06",
          "end": "2024-05",
          "annualized_difference_pp": 5.5463
        },
        {
          "start": "2021-07",
          "end": "2024-06",
          "annualized_difference_pp": 6.1464
        },
        {
          "start": "2021-08",
          "end": "2024-07",
          "annualized_difference_pp": 6.3311
        },
        {
          "start": "2021-09",
          "end": "2024-08",
          "annualized_difference_pp": 6.7547
        },
        {
          "start": "2021-10",
          "end": "2024-09",
          "annualized_difference_pp": 8.0988
        },
        {
          "start": "2021-11",
          "end": "2024-10",
          "annualized_difference_pp": 9.5316
        },
        {
          "start": "2021-12",
          "end": "2024-11",
          "annualized_difference_pp": 9.2176
        },
        {
          "start": "2022-01",
          "end": "2024-12",
          "annualized_difference_pp": 9.0363
        },
        {
          "start": "2022-02",
          "end": "2025-01",
          "annualized_difference_pp": 9.5831
        },
        {
          "start": "2022-03",
          "end": "2025-02",
          "annualized_difference_pp": 7.7221
        },
        {
          "start": "2022-04",
          "end": "2025-03",
          "annualized_difference_pp": 9.3453
        },
        {
          "start": "2022-05",
          "end": "2025-04",
          "annualized_difference_pp": 10.5808
        },
        {
          "start": "2022-06",
          "end": "2025-05",
          "annualized_difference_pp": 10.6901
        },
        {
          "start": "2022-07",
          "end": "2025-06",
          "annualized_difference_pp": 11.6454
        },
        {
          "start": "2022-08",
          "end": "2025-07",
          "annualized_difference_pp": 12.5723
        },
        {
          "start": "2022-09",
          "end": "2025-08",
          "annualized_difference_pp": 12.6641
        },
        {
          "start": "2022-10",
          "end": "2025-09",
          "annualized_difference_pp": 12.6048
        },
        {
          "start": "2022-11",
          "end": "2025-10",
          "annualized_difference_pp": 12.7045
        },
        {
          "start": "2022-12",
          "end": "2025-11",
          "annualized_difference_pp": 12.5143
        },
        {
          "start": "2023-01",
          "end": "2025-12",
          "annualized_difference_pp": 12.8533
        },
        {
          "start": "2023-02",
          "end": "2026-01",
          "annualized_difference_pp": 14.7644
        },
        {
          "start": "2023-03",
          "end": "2026-02",
          "annualized_difference_pp": 13.736
        },
        {
          "start": "2023-04",
          "end": "2026-03",
          "annualized_difference_pp": 8.1104
        },
        {
          "start": "2023-05",
          "end": "2026-04",
          "annualized_difference_pp": 7.4968
        },
        {
          "start": "2023-06",
          "end": "2026-05",
          "annualized_difference_pp": 7.7823
        },
        {
          "start": "2023-07",
          "end": "2026-06",
          "annualized_difference_pp": 6.482
        },
        {
          "start": "2023-08",
          "end": "2026-07",
          "annualized_difference_pp": 6.5402
        }
      ],
      "worst_36month_difference": {
        "start": "2020-09",
        "end": "2023-08",
        "annualized_difference_pp": 1.8257
      },
      "different_execution_dates": 6,
      "trend_gold_vs_cash": {
        "full_cagr_difference_pp": 4.6294,
        "pre2024_cagr_difference_pp": 2.7239,
        "recent_cagr_difference_pp": 8.7093,
        "gold_better_months": 45,
        "cash_better_months": 29,
        "equal_months": 18,
        "yearly": [
          {
            "year": "2019",
            "gold_return_pct": 11.1082,
            "cash_return_pct": 8.7024,
            "difference_pp": 2.4059,
            "partial_year": false
          },
          {
            "year": "2020",
            "gold_return_pct": 29.4272,
            "cash_return_pct": 19.9988,
            "difference_pp": 9.4284,
            "partial_year": false
          },
          {
            "year": "2021",
            "gold_return_pct": -1.1649,
            "cash_return_pct": 2.8726,
            "difference_pp": -4.0375,
            "partial_year": false
          },
          {
            "year": "2022",
            "gold_return_pct": -5.5283,
            "cash_return_pct": -7.1508,
            "difference_pp": 1.6225,
            "partial_year": false
          },
          {
            "year": "2023",
            "gold_return_pct": 12.5183,
            "cash_return_pct": 6.8685,
            "difference_pp": 5.6499,
            "partial_year": false
          },
          {
            "year": "2024",
            "gold_return_pct": 22.2703,
            "cash_return_pct": 8.0248,
            "difference_pp": 14.2455,
            "partial_year": false
          },
          {
            "year": "2025",
            "gold_return_pct": 42.7809,
            "cash_return_pct": 22.9574,
            "difference_pp": 19.8234,
            "partial_year": false
          },
          {
            "year": "2026",
            "gold_return_pct": 0.7102,
            "cash_return_pct": 9.7129,
            "difference_pp": -9.0027,
            "partial_year": true
          }
        ],
        "rolling36month_cagr_difference": [
          {
            "start": "2019-01",
            "end": "2021-12",
            "annualized_difference_pp": 2.1341
          },
          {
            "start": "2019-02",
            "end": "2022-01",
            "annualized_difference_pp": 2.0352
          },
          {
            "start": "2019-03",
            "end": "2022-02",
            "annualized_difference_pp": 2.1672
          },
          {
            "start": "2019-04",
            "end": "2022-03",
            "annualized_difference_pp": 2.9824
          },
          {
            "start": "2019-05",
            "end": "2022-04",
            "annualized_difference_pp": 4.0537
          },
          {
            "start": "2019-06",
            "end": "2022-05",
            "annualized_difference_pp": 3.4555
          },
          {
            "start": "2019-07",
            "end": "2022-06",
            "annualized_difference_pp": 2.098
          },
          {
            "start": "2019-08",
            "end": "2022-07",
            "annualized_difference_pp": 1.2901
          },
          {
            "start": "2019-09",
            "end": "2022-08",
            "annualized_difference_pp": -0.067
          },
          {
            "start": "2019-10",
            "end": "2022-09",
            "annualized_difference_pp": 0.3237
          },
          {
            "start": "2019-11",
            "end": "2022-10",
            "annualized_difference_pp": 0.4336
          },
          {
            "start": "2019-12",
            "end": "2022-11",
            "annualized_difference_pp": 1.546
          },
          {
            "start": "2020-01",
            "end": "2022-12",
            "annualized_difference_pp": 1.8625
          },
          {
            "start": "2020-02",
            "end": "2023-01",
            "annualized_difference_pp": 2.3986
          },
          {
            "start": "2020-03",
            "end": "2023-02",
            "annualized_difference_pp": 1.1514
          },
          {
            "start": "2020-04",
            "end": "2023-03",
            "annualized_difference_pp": 2.0485
          },
          {
            "start": "2020-05",
            "end": "2023-04",
            "annualized_difference_pp": 0.5477
          },
          {
            "start": "2020-06",
            "end": "2023-05",
            "annualized_difference_pp": -0.3701
          },
          {
            "start": "2020-07",
            "end": "2023-06",
            "annualized_difference_pp": -0.7917
          },
          {
            "start": "2020-08",
            "end": "2023-07",
            "annualized_difference_pp": -0.7273
          },
          {
            "start": "2020-09",
            "end": "2023-08",
            "annualized_difference_pp": -0.6739
          },
          {
            "start": "2020-10",
            "end": "2023-09",
            "annualized_difference_pp": 0.2956
          },
          {
            "start": "2020-11",
            "end": "2023-10",
            "annualized_difference_pp": 1.2321
          },
          {
            "start": "2020-12",
            "end": "2023-11",
            "annualized_difference_pp": 0.8716
          },
          {
            "start": "2021-01",
            "end": "2023-12",
            "annualized_difference_pp": 0.9713
          },
          {
            "start": "2021-02",
            "end": "2024-01",
            "annualized_difference_pp": 0.9945
          },
          {
            "start": "2021-03",
            "end": "2024-02",
            "annualized_difference_pp": 0.9084
          },
          {
            "start": "2021-04",
            "end": "2024-03",
            "annualized_difference_pp": 2.1136
          },
          {
            "start": "2021-05",
            "end": "2024-04",
            "annualized_difference_pp": 2.4674
          },
          {
            "start": "2021-06",
            "end": "2024-05",
            "annualized_difference_pp": 2.596
          },
          {
            "start": "2021-07",
            "end": "2024-06",
            "annualized_difference_pp": 3.3334
          },
          {
            "start": "2021-08",
            "end": "2024-07",
            "annualized_difference_pp": 3.8278
          },
          {
            "start": "2021-09",
            "end": "2024-08",
            "annualized_difference_pp": 4.1553
          },
          {
            "start": "2021-10",
            "end": "2024-09",
            "annualized_difference_pp": 5.4625
          },
          {
            "start": "2021-11",
            "end": "2024-10",
            "annualized_difference_pp": 7.0658
          },
          {
            "start": "2021-12",
            "end": "2024-11",
            "annualized_difference_pp": 6.7287
          },
          {
            "start": "2022-01",
            "end": "2024-12",
            "annualized_difference_pp": 6.7899
          },
          {
            "start": "2022-02",
            "end": "2025-01",
            "annualized_difference_pp": 7.126
          },
          {
            "start": "2022-03",
            "end": "2025-02",
            "annualized_difference_pp": 6.9557
          },
          {
            "start": "2022-04",
            "end": "2025-03",
            "annualized_difference_pp": 8.6301
          },
          {
            "start": "2022-05",
            "end": "2025-04",
            "annualized_difference_pp": 9.858
          },
          {
            "start": "2022-06",
            "end": "2025-05",
            "annualized_difference_pp": 9.9666
          },
          {
            "start": "2022-07",
            "end": "2025-06",
            "annualized_difference_pp": 10.9083
          },
          {
            "start": "2022-08",
            "end": "2025-07",
            "annualized_difference_pp": 11.8189
          },
          {
            "start": "2022-09",
            "end": "2025-08",
            "annualized_difference_pp": 12.088
          },
          {
            "start": "2022-10",
            "end": "2025-09",
            "annualized_difference_pp": 12.2891
          },
          {
            "start": "2022-11",
            "end": "2025-10",
            "annualized_difference_pp": 12.644
          },
          {
            "start": "2022-12",
            "end": "2025-11",
            "annualized_difference_pp": 12.5143
          },
          {
            "start": "2023-01",
            "end": "2025-12",
            "annualized_difference_pp": 12.8533
          },
          {
            "start": "2023-02",
            "end": "2026-01",
            "annualized_difference_pp": 14.7644
          },
          {
            "start": "2023-03",
            "end": "2026-02",
            "annualized_difference_pp": 13.736
          },
          {
            "start": "2023-04",
            "end": "2026-03",
            "annualized_difference_pp": 8.1104
          },
          {
            "start": "2023-05",
            "end": "2026-04",
            "annualized_difference_pp": 7.4968
          },
          {
            "start": "2023-06",
            "end": "2026-05",
            "annualized_difference_pp": 7.7823
          },
          {
            "start": "2023-07",
            "end": "2026-06",
            "annualized_difference_pp": 7.8808
          },
          {
            "start": "2023-08",
            "end": "2026-07",
            "annualized_difference_pp": 7.5816
          }
        ],
        "worst_36month_difference": {
          "start": "2020-07",
          "end": "2023-06",
          "annualized_difference_pp": -0.7917
        }
      }
    },
    "industry_slots": {
      "full_cagr_difference_pp": 3.9987,
      "pre2024_cagr_difference_pp": 2.7116,
      "recent_cagr_difference_pp": 7.0315,
      "gold_better_months": 49,
      "cash_better_months": 33,
      "equal_months": 10,
      "yearly": [
        {
          "year": "2019",
          "gold_return_pct": 20.3124,
          "cash_return_pct": 14.248,
          "difference_pp": 6.0644,
          "partial_year": false
        },
        {
          "year": "2020",
          "gold_return_pct": 24.3211,
          "cash_return_pct": 22.136,
          "difference_pp": 2.1852,
          "partial_year": false
        },
        {
          "year": "2021",
          "gold_return_pct": -13.3982,
          "cash_return_pct": -10.7768,
          "difference_pp": -2.6214,
          "partial_year": false
        },
        {
          "year": "2022",
          "gold_return_pct": -15.1034,
          "cash_return_pct": -19.1537,
          "difference_pp": 4.0503,
          "partial_year": false
        },
        {
          "year": "2023",
          "gold_return_pct": 12.5988,
          "cash_return_pct": 7.9206,
          "difference_pp": 4.6781,
          "partial_year": false
        },
        {
          "year": "2024",
          "gold_return_pct": 23.9709,
          "cash_return_pct": 16.0952,
          "difference_pp": 7.8757,
          "partial_year": false
        },
        {
          "year": "2025",
          "gold_return_pct": 70.4856,
          "cash_return_pct": 48.8206,
          "difference_pp": 21.6649,
          "partial_year": false
        },
        {
          "year": "2026",
          "gold_return_pct": -1.1419,
          "cash_return_pct": 5.0806,
          "difference_pp": -6.2225,
          "partial_year": true
        }
      ],
      "rolling36month_cagr_difference": [
        {
          "start": "2019-01",
          "end": "2021-12",
          "annualized_difference_pp": 1.4306
        },
        {
          "start": "2019-02",
          "end": "2022-01",
          "annualized_difference_pp": 1.2922
        },
        {
          "start": "2019-03",
          "end": "2022-02",
          "annualized_difference_pp": 2.4191
        },
        {
          "start": "2019-04",
          "end": "2022-03",
          "annualized_difference_pp": 3.0802
        },
        {
          "start": "2019-05",
          "end": "2022-04",
          "annualized_difference_pp": 3.8034
        },
        {
          "start": "2019-06",
          "end": "2022-05",
          "annualized_difference_pp": 3.0702
        },
        {
          "start": "2019-07",
          "end": "2022-06",
          "annualized_difference_pp": 1.7679
        },
        {
          "start": "2019-08",
          "end": "2022-07",
          "annualized_difference_pp": 1.0986
        },
        {
          "start": "2019-09",
          "end": "2022-08",
          "annualized_difference_pp": -0.0621
        },
        {
          "start": "2019-10",
          "end": "2022-09",
          "annualized_difference_pp": 0.4794
        },
        {
          "start": "2019-11",
          "end": "2022-10",
          "annualized_difference_pp": 0.7075
        },
        {
          "start": "2019-12",
          "end": "2022-11",
          "annualized_difference_pp": 1.4059
        },
        {
          "start": "2020-01",
          "end": "2022-12",
          "annualized_difference_pp": 1.1831
        },
        {
          "start": "2020-02",
          "end": "2023-01",
          "annualized_difference_pp": 1.4775
        },
        {
          "start": "2020-03",
          "end": "2023-02",
          "annualized_difference_pp": 0.3008
        },
        {
          "start": "2020-04",
          "end": "2023-03",
          "annualized_difference_pp": 1.2461
        },
        {
          "start": "2020-05",
          "end": "2023-04",
          "annualized_difference_pp": 0.3555
        },
        {
          "start": "2020-06",
          "end": "2023-05",
          "annualized_difference_pp": -0.1536
        },
        {
          "start": "2020-07",
          "end": "2023-06",
          "annualized_difference_pp": -0.3775
        },
        {
          "start": "2020-08",
          "end": "2023-07",
          "annualized_difference_pp": -0.4054
        },
        {
          "start": "2020-09",
          "end": "2023-08",
          "annualized_difference_pp": -0.3907
        },
        {
          "start": "2020-10",
          "end": "2023-09",
          "annualized_difference_pp": 0.6549
        },
        {
          "start": "2020-11",
          "end": "2023-10",
          "annualized_difference_pp": 1.5441
        },
        {
          "start": "2020-12",
          "end": "2023-11",
          "annualized_difference_pp": 2.8975
        },
        {
          "start": "2021-01",
          "end": "2023-12",
          "annualized_difference_pp": 1.9052
        },
        {
          "start": "2021-02",
          "end": "2024-01",
          "annualized_difference_pp": 2.153
        },
        {
          "start": "2021-03",
          "end": "2024-02",
          "annualized_difference_pp": 3.2812
        },
        {
          "start": "2021-04",
          "end": "2024-03",
          "annualized_difference_pp": 5.2658
        },
        {
          "start": "2021-05",
          "end": "2024-04",
          "annualized_difference_pp": 4.7546
        },
        {
          "start": "2021-06",
          "end": "2024-05",
          "annualized_difference_pp": 3.974
        },
        {
          "start": "2021-07",
          "end": "2024-06",
          "annualized_difference_pp": 4.5799
        },
        {
          "start": "2021-08",
          "end": "2024-07",
          "annualized_difference_pp": 4.4062
        },
        {
          "start": "2021-09",
          "end": "2024-08",
          "annualized_difference_pp": 4.6215
        },
        {
          "start": "2021-10",
          "end": "2024-09",
          "annualized_difference_pp": 5.1759
        },
        {
          "start": "2021-11",
          "end": "2024-10",
          "annualized_difference_pp": 5.7392
        },
        {
          "start": "2021-12",
          "end": "2024-11",
          "annualized_difference_pp": 5.4719
        },
        {
          "start": "2022-01",
          "end": "2024-12",
          "annualized_difference_pp": 5.3942
        },
        {
          "start": "2022-02",
          "end": "2025-01",
          "annualized_difference_pp": 5.777
        },
        {
          "start": "2022-03",
          "end": "2025-02",
          "annualized_difference_pp": 4.6104
        },
        {
          "start": "2022-04",
          "end": "2025-03",
          "annualized_difference_pp": 6.2739
        },
        {
          "start": "2022-05",
          "end": "2025-04",
          "annualized_difference_pp": 7.1593
        },
        {
          "start": "2022-06",
          "end": "2025-05",
          "annualized_difference_pp": 7.0884
        },
        {
          "start": "2022-07",
          "end": "2025-06",
          "annualized_difference_pp": 7.8063
        },
        {
          "start": "2022-08",
          "end": "2025-07",
          "annualized_difference_pp": 8.5841
        },
        {
          "start": "2022-09",
          "end": "2025-08",
          "annualized_difference_pp": 9.0425
        },
        {
          "start": "2022-10",
          "end": "2025-09",
          "annualized_difference_pp": 9.1611
        },
        {
          "start": "2022-11",
          "end": "2025-10",
          "annualized_difference_pp": 9.3645
        },
        {
          "start": "2022-12",
          "end": "2025-11",
          "annualized_difference_pp": 9.7412
        },
        {
          "start": "2023-01",
          "end": "2025-12",
          "annualized_difference_pp": 10.4281
        },
        {
          "start": "2023-02",
          "end": "2026-01",
          "annualized_difference_pp": 12.7771
        },
        {
          "start": "2023-03",
          "end": "2026-02",
          "annualized_difference_pp": 11.698
        },
        {
          "start": "2023-04",
          "end": "2026-03",
          "annualized_difference_pp": 5.3719
        },
        {
          "start": "2023-05",
          "end": "2026-04",
          "annualized_difference_pp": 5.3489
        },
        {
          "start": "2023-06",
          "end": "2026-05",
          "annualized_difference_pp": 5.3909
        },
        {
          "start": "2023-07",
          "end": "2026-06",
          "annualized_difference_pp": 4.1088
        },
        {
          "start": "2023-08",
          "end": "2026-07",
          "annualized_difference_pp": 4.379
        }
      ],
      "worst_36month_difference": {
        "start": "2020-08",
        "end": "2023-07",
        "annualized_difference_pp": -0.4054
      },
      "different_execution_dates": 0,
      "trend_gold_vs_cash": {
        "full_cagr_difference_pp": 2.918,
        "pre2024_cagr_difference_pp": 1.6426,
        "recent_cagr_difference_pp": 5.9464,
        "gold_better_months": 41,
        "cash_better_months": 28,
        "equal_months": 23,
        "yearly": [
          {
            "year": "2019",
            "gold_return_pct": 17.0065,
            "cash_return_pct": 14.248,
            "difference_pp": 2.7585,
            "partial_year": false
          },
          {
            "year": "2020",
            "gold_return_pct": 27.0166,
            "cash_return_pct": 22.136,
            "difference_pp": 4.8806,
            "partial_year": false
          },
          {
            "year": "2021",
            "gold_return_pct": -13.5047,
            "cash_return_pct": -10.7768,
            "difference_pp": -2.7279,
            "partial_year": false
          },
          {
            "year": "2022",
            "gold_return_pct": -18.7232,
            "cash_return_pct": -19.1537,
            "difference_pp": 0.4305,
            "partial_year": false
          },
          {
            "year": "2023",
            "gold_return_pct": 12.5988,
            "cash_return_pct": 7.9206,
            "difference_pp": 4.6781,
            "partial_year": false
          },
          {
            "year": "2024",
            "gold_return_pct": 23.9709,
            "cash_return_pct": 16.0952,
            "difference_pp": 7.8757,
            "partial_year": false
          },
          {
            "year": "2025",
            "gold_return_pct": 70.4856,
            "cash_return_pct": 48.8206,
            "difference_pp": 21.6649,
            "partial_year": false
          },
          {
            "year": "2026",
            "gold_return_pct": -3.2147,
            "cash_return_pct": 5.0806,
            "difference_pp": -8.2953,
            "partial_year": true
          }
        ],
        "rolling36month_cagr_difference": [
          {
            "start": "2019-01",
            "end": "2021-12",
            "annualized_difference_pp": 1.1533
          },
          {
            "start": "2019-02",
            "end": "2022-01",
            "annualized_difference_pp": 1.0742
          },
          {
            "start": "2019-03",
            "end": "2022-02",
            "annualized_difference_pp": 1.1232
          },
          {
            "start": "2019-04",
            "end": "2022-03",
            "annualized_difference_pp": 1.7346
          },
          {
            "start": "2019-05",
            "end": "2022-04",
            "annualized_difference_pp": 2.4569
          },
          {
            "start": "2019-06",
            "end": "2022-05",
            "annualized_difference_pp": 2.0884
          },
          {
            "start": "2019-07",
            "end": "2022-06",
            "annualized_difference_pp": 0.9822
          },
          {
            "start": "2019-08",
            "end": "2022-07",
            "annualized_difference_pp": 0.3326
          },
          {
            "start": "2019-09",
            "end": "2022-08",
            "annualized_difference_pp": -0.9477
          },
          {
            "start": "2019-10",
            "end": "2022-09",
            "annualized_difference_pp": -0.5504
          },
          {
            "start": "2019-11",
            "end": "2022-10",
            "annualized_difference_pp": -0.4354
          },
          {
            "start": "2019-12",
            "end": "2022-11",
            "annualized_difference_pp": 0.2501
          },
          {
            "start": "2020-01",
            "end": "2022-12",
            "annualized_difference_pp": 0.4305
          },
          {
            "start": "2020-02",
            "end": "2023-01",
            "annualized_difference_pp": 0.6969
          },
          {
            "start": "2020-03",
            "end": "2023-02",
            "annualized_difference_pp": -0.4809
          },
          {
            "start": "2020-04",
            "end": "2023-03",
            "annualized_difference_pp": 0.4423
          },
          {
            "start": "2020-05",
            "end": "2023-04",
            "annualized_difference_pp": -0.4427
          },
          {
            "start": "2020-06",
            "end": "2023-05",
            "annualized_difference_pp": -0.9545
          },
          {
            "start": "2020-07",
            "end": "2023-06",
            "annualized_difference_pp": -1.1677
          },
          {
            "start": "2020-08",
            "end": "2023-07",
            "annualized_difference_pp": -1.1613
          },
          {
            "start": "2020-09",
            "end": "2023-08",
            "annualized_difference_pp": -1.1192
          },
          {
            "start": "2020-10",
            "end": "2023-09",
            "annualized_difference_pp": -0.0849
          },
          {
            "start": "2020-11",
            "end": "2023-10",
            "annualized_difference_pp": 0.802
          },
          {
            "start": "2020-12",
            "end": "2023-11",
            "annualized_difference_pp": 0.5531
          },
          {
            "start": "2021-01",
            "end": "2023-12",
            "annualized_difference_pp": 0.5133
          },
          {
            "start": "2021-02",
            "end": "2024-01",
            "annualized_difference_pp": 0.523
          },
          {
            "start": "2021-03",
            "end": "2024-02",
            "annualized_difference_pp": 0.4676
          },
          {
            "start": "2021-04",
            "end": "2024-03",
            "annualized_difference_pp": 1.5931
          },
          {
            "start": "2021-05",
            "end": "2024-04",
            "annualized_difference_pp": 1.9333
          },
          {
            "start": "2021-06",
            "end": "2024-05",
            "annualized_difference_pp": 2.0508
          },
          {
            "start": "2021-07",
            "end": "2024-06",
            "annualized_difference_pp": 2.7405
          },
          {
            "start": "2021-08",
            "end": "2024-07",
            "annualized_difference_pp": 2.8763
          },
          {
            "start": "2021-09",
            "end": "2024-08",
            "annualized_difference_pp": 3.0122
          },
          {
            "start": "2021-10",
            "end": "2024-09",
            "annualized_difference_pp": 3.5041
          },
          {
            "start": "2021-11",
            "end": "2024-10",
            "annualized_difference_pp": 4.1258
          },
          {
            "start": "2021-12",
            "end": "2024-11",
            "annualized_difference_pp": 3.8331
          },
          {
            "start": "2022-01",
            "end": "2024-12",
            "annualized_difference_pp": 3.8682
          },
          {
            "start": "2022-02",
            "end": "2025-01",
            "annualized_difference_pp": 4.1576
          },
          {
            "start": "2022-03",
            "end": "2025-02",
            "annualized_difference_pp": 4.0969
          },
          {
            "start": "2022-04",
            "end": "2025-03",
            "annualized_difference_pp": 5.7942
          },
          {
            "start": "2022-05",
            "end": "2025-04",
            "annualized_difference_pp": 6.6757
          },
          {
            "start": "2022-06",
            "end": "2025-05",
            "annualized_difference_pp": 6.6125
          },
          {
            "start": "2022-07",
            "end": "2025-06",
            "annualized_difference_pp": 7.3244
          },
          {
            "start": "2022-08",
            "end": "2025-07",
            "annualized_difference_pp": 8.0809
          },
          {
            "start": "2022-09",
            "end": "2025-08",
            "annualized_difference_pp": 8.6721
          },
          {
            "start": "2022-10",
            "end": "2025-09",
            "annualized_difference_pp": 8.9692
          },
          {
            "start": "2022-11",
            "end": "2025-10",
            "annualized_difference_pp": 9.3436
          },
          {
            "start": "2022-12",
            "end": "2025-11",
            "annualized_difference_pp": 9.7412
          },
          {
            "start": "2023-01",
            "end": "2025-12",
            "annualized_difference_pp": 10.4281
          },
          {
            "start": "2023-02",
            "end": "2026-01",
            "annualized_difference_pp": 12.7771
          },
          {
            "start": "2023-03",
            "end": "2026-02",
            "annualized_difference_pp": 11.698
          },
          {
            "start": "2023-04",
            "end": "2026-03",
            "annualized_difference_pp": 5.3719
          },
          {
            "start": "2023-05",
            "end": "2026-04",
            "annualized_difference_pp": 5.3489
          },
          {
            "start": "2023-06",
            "end": "2026-05",
            "annualized_difference_pp": 5.3909
          },
          {
            "start": "2023-07",
            "end": "2026-06",
            "annualized_difference_pp": 5.5364
          },
          {
            "start": "2023-08",
            "end": "2026-07",
            "annualized_difference_pp": 5.3806
          }
        ],
        "worst_36month_difference": {
          "start": "2020-07",
          "end": "2023-06",
          "annualized_difference_pp": -1.1677
        }
      }
    },
    "broad_winner": {
      "full_cagr_difference_pp": 5.3598,
      "pre2024_cagr_difference_pp": 6.326,
      "recent_cagr_difference_pp": 3.6879,
      "gold_better_months": 22,
      "cash_better_months": 11,
      "equal_months": 59,
      "yearly": [
        {
          "year": "2019",
          "gold_return_pct": 20.2832,
          "cash_return_pct": 21.2354,
          "difference_pp": -0.9522,
          "partial_year": false
        },
        {
          "year": "2020",
          "gold_return_pct": 36.5699,
          "cash_return_pct": 26.4963,
          "difference_pp": 10.0736,
          "partial_year": false
        },
        {
          "year": "2021",
          "gold_return_pct": 22.7356,
          "cash_return_pct": 17.9345,
          "difference_pp": 4.8011,
          "partial_year": false
        },
        {
          "year": "2022",
          "gold_return_pct": -7.5133,
          "cash_return_pct": -16.4158,
          "difference_pp": 8.9025,
          "partial_year": false
        },
        {
          "year": "2023",
          "gold_return_pct": 29.7413,
          "cash_return_pct": 22.0733,
          "difference_pp": 7.668,
          "partial_year": false
        },
        {
          "year": "2024",
          "gold_return_pct": -4.565,
          "cash_return_pct": -4.565,
          "difference_pp": 0.0,
          "partial_year": false
        },
        {
          "year": "2025",
          "gold_return_pct": 6.1151,
          "cash_return_pct": 0.5281,
          "difference_pp": 5.587,
          "partial_year": false
        },
        {
          "year": "2026",
          "gold_return_pct": 11.7872,
          "cash_return_pct": 7.5702,
          "difference_pp": 4.2171,
          "partial_year": true
        }
      ],
      "rolling36month_cagr_difference": [
        {
          "start": "2019-01",
          "end": "2021-12",
          "annualized_difference_pp": 4.4931
        },
        {
          "start": "2019-02",
          "end": "2022-01",
          "annualized_difference_pp": 4.3477
        },
        {
          "start": "2019-03",
          "end": "2022-02",
          "annualized_difference_pp": 6.2198
        },
        {
          "start": "2019-04",
          "end": "2022-03",
          "annualized_difference_pp": 6.8282
        },
        {
          "start": "2019-05",
          "end": "2022-04",
          "annualized_difference_pp": 7.9624
        },
        {
          "start": "2019-06",
          "end": "2022-05",
          "annualized_difference_pp": 7.4515
        },
        {
          "start": "2019-07",
          "end": "2022-06",
          "annualized_difference_pp": 6.6601
        },
        {
          "start": "2019-08",
          "end": "2022-07",
          "annualized_difference_pp": 5.9834
        },
        {
          "start": "2019-09",
          "end": "2022-08",
          "annualized_difference_pp": 6.1033
        },
        {
          "start": "2019-10",
          "end": "2022-09",
          "annualized_difference_pp": 6.3509
        },
        {
          "start": "2019-11",
          "end": "2022-10",
          "annualized_difference_pp": 6.5129
        },
        {
          "start": "2019-12",
          "end": "2022-11",
          "annualized_difference_pp": 7.7748
        },
        {
          "start": "2020-01",
          "end": "2022-12",
          "annualized_difference_pp": 8.1024
        },
        {
          "start": "2020-02",
          "end": "2023-01",
          "annualized_difference_pp": 8.6501
        },
        {
          "start": "2020-03",
          "end": "2023-02",
          "annualized_difference_pp": 8.6406
        },
        {
          "start": "2020-04",
          "end": "2023-03",
          "annualized_difference_pp": 8.15
        },
        {
          "start": "2020-05",
          "end": "2023-04",
          "annualized_difference_pp": 6.5785
        },
        {
          "start": "2020-06",
          "end": "2023-05",
          "annualized_difference_pp": 5.6684
        },
        {
          "start": "2020-07",
          "end": "2023-06",
          "annualized_difference_pp": 5.5707
        },
        {
          "start": "2020-08",
          "end": "2023-07",
          "annualized_difference_pp": 5.598
        },
        {
          "start": "2020-09",
          "end": "2023-08",
          "annualized_difference_pp": 5.5729
        },
        {
          "start": "2020-10",
          "end": "2023-09",
          "annualized_difference_pp": 5.5615
        },
        {
          "start": "2020-11",
          "end": "2023-10",
          "annualized_difference_pp": 8.0902
        },
        {
          "start": "2020-12",
          "end": "2023-11",
          "annualized_difference_pp": 7.4624
        },
        {
          "start": "2021-01",
          "end": "2023-12",
          "annualized_difference_pp": 7.4098
        },
        {
          "start": "2021-02",
          "end": "2024-01",
          "annualized_difference_pp": 7.4433
        },
        {
          "start": "2021-03",
          "end": "2024-02",
          "annualized_difference_pp": 7.5223
        },
        {
          "start": "2021-04",
          "end": "2024-03",
          "annualized_difference_pp": 7.7303
        },
        {
          "start": "2021-05",
          "end": "2024-04",
          "annualized_difference_pp": 7.058
        },
        {
          "start": "2021-06",
          "end": "2024-05",
          "annualized_difference_pp": 6.0143
        },
        {
          "start": "2021-07",
          "end": "2024-06",
          "annualized_difference_pp": 6.0174
        },
        {
          "start": "2021-08",
          "end": "2024-07",
          "annualized_difference_pp": 5.9385
        },
        {
          "start": "2021-09",
          "end": "2024-08",
          "annualized_difference_pp": 5.8015
        },
        {
          "start": "2021-10",
          "end": "2024-09",
          "annualized_difference_pp": 5.8612
        },
        {
          "start": "2021-11",
          "end": "2024-10",
          "annualized_difference_pp": 5.5657
        },
        {
          "start": "2021-12",
          "end": "2024-11",
          "annualized_difference_pp": 5.5006
        },
        {
          "start": "2022-01",
          "end": "2024-12",
          "annualized_difference_pp": 5.5041
        },
        {
          "start": "2022-02",
          "end": "2025-01",
          "annualized_difference_pp": 5.7097
        },
        {
          "start": "2022-03",
          "end": "2025-02",
          "annualized_difference_pp": 4.0197
        },
        {
          "start": "2022-04",
          "end": "2025-03",
          "annualized_difference_pp": 3.6252
        },
        {
          "start": "2022-05",
          "end": "2025-04",
          "annualized_difference_pp": 4.5611
        },
        {
          "start": "2022-06",
          "end": "2025-05",
          "annualized_difference_pp": 4.6613
        },
        {
          "start": "2022-07",
          "end": "2025-06",
          "annualized_difference_pp": 5.7586
        },
        {
          "start": "2022-08",
          "end": "2025-07",
          "annualized_difference_pp": 6.3558
        },
        {
          "start": "2022-09",
          "end": "2025-08",
          "annualized_difference_pp": 6.2618
        },
        {
          "start": "2022-10",
          "end": "2025-09",
          "annualized_difference_pp": 6.0394
        },
        {
          "start": "2022-11",
          "end": "2025-10",
          "annualized_difference_pp": 5.811
        },
        {
          "start": "2022-12",
          "end": "2025-11",
          "annualized_difference_pp": 4.4692
        },
        {
          "start": "2023-01",
          "end": "2025-12",
          "annualized_difference_pp": 4.1194
        },
        {
          "start": "2023-02",
          "end": "2026-01",
          "annualized_difference_pp": 3.4187
        },
        {
          "start": "2023-03",
          "end": "2026-02",
          "annualized_difference_pp": 3.3296
        },
        {
          "start": "2023-04",
          "end": "2026-03",
          "annualized_difference_pp": 3.2725
        },
        {
          "start": "2023-05",
          "end": "2026-04",
          "annualized_difference_pp": 1.9302
        },
        {
          "start": "2023-06",
          "end": "2026-05",
          "annualized_difference_pp": 2.2445
        },
        {
          "start": "2023-07",
          "end": "2026-06",
          "annualized_difference_pp": 2.2782
        },
        {
          "start": "2023-08",
          "end": "2026-07",
          "annualized_difference_pp": 2.1784
        }
      ],
      "worst_36month_difference": {
        "start": "2023-05",
        "end": "2026-04",
        "annualized_difference_pp": 1.9302
      },
      "different_execution_dates": 0,
      "trend_gold_vs_cash": {
        "full_cagr_difference_pp": 2.8427,
        "pre2024_cagr_difference_pp": 3.8912,
        "recent_cagr_difference_pp": 1.0453,
        "gold_better_months": 15,
        "cash_better_months": 11,
        "equal_months": 66,
        "yearly": [
          {
            "year": "2019",
            "gold_return_pct": 20.2832,
            "cash_return_pct": 21.2354,
            "difference_pp": -0.9522,
            "partial_year": false
          },
          {
            "year": "2020",
            "gold_return_pct": 36.5699,
            "cash_return_pct": 26.4963,
            "difference_pp": 10.0736,
            "partial_year": false
          },
          {
            "year": "2021",
            "gold_return_pct": 17.9345,
            "cash_return_pct": 17.9345,
            "difference_pp": 0.0,
            "partial_year": false
          },
          {
            "year": "2022",
            "gold_return_pct": -13.1235,
            "cash_return_pct": -16.4158,
            "difference_pp": 3.2923,
            "partial_year": false
          },
          {
            "year": "2023",
            "gold_return_pct": 29.7413,
            "cash_return_pct": 22.0733,
            "difference_pp": 7.668,
            "partial_year": false
          },
          {
            "year": "2024",
            "gold_return_pct": -4.565,
            "cash_return_pct": -4.565,
            "difference_pp": 0.0,
            "partial_year": false
          },
          {
            "year": "2025",
            "gold_return_pct": 6.1151,
            "cash_return_pct": 0.5281,
            "difference_pp": 5.587,
            "partial_year": false
          },
          {
            "year": "2026",
            "gold_return_pct": 4.6504,
            "cash_return_pct": 7.5702,
            "difference_pp": -2.9198,
            "partial_year": true
          }
        ],
        "rolling36month_cagr_difference": [
          {
            "start": "2019-01",
            "end": "2021-12",
            "annualized_difference_pp": 2.8239
          },
          {
            "start": "2019-02",
            "end": "2022-01",
            "annualized_difference_pp": 2.7612
          },
          {
            "start": "2019-03",
            "end": "2022-02",
            "annualized_difference_pp": 2.8523
          },
          {
            "start": "2019-04",
            "end": "2022-03",
            "annualized_difference_pp": 3.4095
          },
          {
            "start": "2019-05",
            "end": "2022-04",
            "annualized_difference_pp": 4.5196
          },
          {
            "start": "2019-06",
            "end": "2022-05",
            "annualized_difference_pp": 3.9467
          },
          {
            "start": "2019-07",
            "end": "2022-06",
            "annualized_difference_pp": 3.2498
          },
          {
            "start": "2019-08",
            "end": "2022-07",
            "annualized_difference_pp": 2.7117
          },
          {
            "start": "2019-09",
            "end": "2022-08",
            "annualized_difference_pp": 2.7302
          },
          {
            "start": "2019-10",
            "end": "2022-09",
            "annualized_difference_pp": 2.7241
          },
          {
            "start": "2019-11",
            "end": "2022-10",
            "annualized_difference_pp": 2.6879
          },
          {
            "start": "2019-12",
            "end": "2022-11",
            "annualized_difference_pp": 3.8613
          },
          {
            "start": "2020-01",
            "end": "2022-12",
            "annualized_difference_pp": 4.2156
          },
          {
            "start": "2020-02",
            "end": "2023-01",
            "annualized_difference_pp": 4.8465
          },
          {
            "start": "2020-03",
            "end": "2023-02",
            "annualized_difference_pp": 4.8924
          },
          {
            "start": "2020-04",
            "end": "2023-03",
            "annualized_difference_pp": 4.4627
          },
          {
            "start": "2020-05",
            "end": "2023-04",
            "annualized_difference_pp": 2.9365
          },
          {
            "start": "2020-06",
            "end": "2023-05",
            "annualized_difference_pp": 1.9284
          },
          {
            "start": "2020-07",
            "end": "2023-06",
            "annualized_difference_pp": 1.7529
          },
          {
            "start": "2020-08",
            "end": "2023-07",
            "annualized_difference_pp": 1.7615
          },
          {
            "start": "2020-09",
            "end": "2023-08",
            "annualized_difference_pp": 1.7536
          },
          {
            "start": "2020-10",
            "end": "2023-09",
            "annualized_difference_pp": 1.75
          },
          {
            "start": "2020-11",
            "end": "2023-10",
            "annualized_difference_pp": 4.2
          },
          {
            "start": "2020-12",
            "end": "2023-11",
            "annualized_difference_pp": 3.6508
          },
          {
            "start": "2021-01",
            "end": "2023-12",
            "annualized_difference_pp": 3.5889
          },
          {
            "start": "2021-02",
            "end": "2024-01",
            "annualized_difference_pp": 3.6051
          },
          {
            "start": "2021-03",
            "end": "2024-02",
            "annualized_difference_pp": 3.6433
          },
          {
            "start": "2021-04",
            "end": "2024-03",
            "annualized_difference_pp": 3.7441
          },
          {
            "start": "2021-05",
            "end": "2024-04",
            "annualized_difference_pp": 3.6957
          },
          {
            "start": "2021-06",
            "end": "2024-05",
            "annualized_difference_pp": 3.6544
          },
          {
            "start": "2021-07",
            "end": "2024-06",
            "annualized_difference_pp": 3.6562
          },
          {
            "start": "2021-08",
            "end": "2024-07",
            "annualized_difference_pp": 3.6083
          },
          {
            "start": "2021-09",
            "end": "2024-08",
            "annualized_difference_pp": 3.5251
          },
          {
            "start": "2021-10",
            "end": "2024-09",
            "annualized_difference_pp": 3.5613
          },
          {
            "start": "2021-11",
            "end": "2024-10",
            "annualized_difference_pp": 3.3818
          },
          {
            "start": "2021-12",
            "end": "2024-11",
            "annualized_difference_pp": 3.3423
          },
          {
            "start": "2022-01",
            "end": "2024-12",
            "annualized_difference_pp": 3.3444
          },
          {
            "start": "2022-02",
            "end": "2025-01",
            "annualized_difference_pp": 3.4693
          },
          {
            "start": "2022-03",
            "end": "2025-02",
            "annualized_difference_pp": 3.351
          },
          {
            "start": "2022-04",
            "end": "2025-03",
            "annualized_difference_pp": 3.0149
          },
          {
            "start": "2022-05",
            "end": "2025-04",
            "annualized_difference_pp": 3.9457
          },
          {
            "start": "2022-06",
            "end": "2025-05",
            "annualized_difference_pp": 4.0454
          },
          {
            "start": "2022-07",
            "end": "2025-06",
            "annualized_difference_pp": 5.124
          },
          {
            "start": "2022-08",
            "end": "2025-07",
            "annualized_difference_pp": 5.6977
          },
          {
            "start": "2022-09",
            "end": "2025-08",
            "annualized_difference_pp": 5.68
          },
          {
            "start": "2022-10",
            "end": "2025-09",
            "annualized_difference_pp": 5.7017
          },
          {
            "start": "2022-11",
            "end": "2025-10",
            "annualized_difference_pp": 5.7077
          },
          {
            "start": "2022-12",
            "end": "2025-11",
            "annualized_difference_pp": 4.4692
          },
          {
            "start": "2023-01",
            "end": "2025-12",
            "annualized_difference_pp": 4.1194
          },
          {
            "start": "2023-02",
            "end": "2026-01",
            "annualized_difference_pp": 3.4187
          },
          {
            "start": "2023-03",
            "end": "2026-02",
            "annualized_difference_pp": 3.3296
          },
          {
            "start": "2023-04",
            "end": "2026-03",
            "annualized_difference_pp": 3.2725
          },
          {
            "start": "2023-05",
            "end": "2026-04",
            "annualized_difference_pp": 1.9302
          },
          {
            "start": "2023-06",
            "end": "2026-05",
            "annualized_difference_pp": 2.2445
          },
          {
            "start": "2023-07",
            "end": "2026-06",
            "annualized_difference_pp": 2.2782
          },
          {
            "start": "2023-08",
            "end": "2026-07",
            "annualized_difference_pp": 2.1784
          }
        ],
        "worst_36month_difference": {
          "start": "2020-10",
          "end": "2023-09",
          "annualized_difference_pp": 1.75
        }
      }
    }
  },
  "prefix_checks": [
    {
      "end": "20201231",
      "rows": 730,
      "equal": true,
      "metadata_still_current": true
    },
    {
      "end": "20221230",
      "rows": 1215,
      "equal": true,
      "metadata_still_current": true
    },
    {
      "end": "20241231",
      "rows": 1699,
      "equal": true,
      "metadata_still_current": true
    }
  ],
  "no_production_changes": true
}