{
  "author": "Arhan Canli",
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        "samples": 10000
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    },
    "samples": 10000,
    "seed": 20260825,
    "sensitivity_block_days": [
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      63,
      126
    ]
  },
  "capital_kind": "RESEARCH_SIMULATION_OVER_PAPER_SPECIFICATION",
  "claim_boundary": "Retrospective diversification measurement of the exact current four-sleeve research specification and strategic overlay. It does not establish live-forward correlation, alpha, the 1.5 Sharpe objective, a reweighting decision, or retroactive admission. The return data were known before this protocol and the research window ends before the broker-reconciled forward record begins.",
  "configuration": {
    "aggregation": {
      "book_level_drawdown_ladder": null,
      "book_level_vol_target_ann": null,
      "claim_boundary": "Constituent strategies own their internal sizing. ALPHAC combines their realized returns at the committed fixed-weight schedule and adds the separately disclosed strategic overlay. It does not apply a second book-level volatility target or drawdown ladder.",
      "missing_mark_policy": "ZERO_CONTRIBUTION_ON_MISSING_DAILY_SLEEVE_MARK",
      "scheme": "fixed",
      "strategic_overlay_is_book_vol_scaled": false
    },
    "live_fingerprint": "sha256:fe82c4eeed742289bfcfee5d39856ee2bb8ca9cfe209bcc7e34abff98553706d",
    "sleeves": [
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      "crypto_carry_wk",
      "k30_dn_63",
      "managed_futures"
    ],
    "strategic_tilt_mix": {
      "BTC": 0.5,
      "SPY": 0.5
    },
    "strategic_tilt_pct": 0.1,
    "weights": {
      "alphavintage_live": 0.25,
      "crypto_carry_wk": 0.25,
      "k30_dn_63": 0.25,
      "managed_futures": 0.25
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  },
  "content_hash": "sha256:af7297d7ec13bf8b7e3812fd78d52faaff7c0de28dd9979dd11db045ed535f52",
  "failed_establishment_dimensions": [
    "RESEARCH_CURVES_END_BEFORE_BROKER_RECONCILED_FORWARD_RECORD",
    "RETURN_DATA_WERE_KNOWN_BEFORE_PROTOCOL",
    "NO_HUMAN_INDEPENDENT_REPLICATION",
    "NO_CRISIS_COMPLETE_FORWARD_CORRELATION_WINDOW"
  ],
  "governing_comparison": {
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    "active_v7_candidate_average_correlation_gate": 0.0,
    "active_v7_has_no_global_average_correlation_point_gate": true,
    "average_pairwise_correlation_objective": -0.03,
    "average_pairwise_correlation_upper_95_gate": 0.1,
    "average_pairwise_upper_95": 0.04870778381377487,
    "checks": {
      "average_pairwise_upper_95": true,
      "minimum_correlation_observations": true,
      "ordinary_pairwise_point": true,
      "ordinary_pairwise_upper_95": true,
      "stressed_pairwise_design": true
    },
    "current_sleeves": 4,
    "distance_from_average_correlation_objective": 0.05482741429360785,
    "existing_sleeves_are_not_retroactively_adjudicated": true,
    "historical_v6_global_average_correlation_point_check": false,
    "historical_v6_global_average_correlation_point_gate": 0.0,
    "live_forward_diversification_established": false,
    "maximum_pairwise_upper_95": 0.3025187934584474,
    "meets_active_correlation_objective": false,
    "minimum_new_sleeves": 10,
    "ordinary_pairwise_correlation_point_gate": 0.35,
    "ordinary_pairwise_correlation_upper_95_gate": 0.35,
    "passes_all_active_v7_risk_comparisons": true,
    "stressed_pairwise_correlation_gate": 0.5,
    "stressed_pairwise_design_value_not_observed": 0.5,
    "target_total_sleeves": 14
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  "observed": {
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    "diversification_ratio_sleeves_only": 1.8153132626773805,
    "effective_independent_sleeves_participation_ratio": 3.8988014966039604,
    "exact_component_reconstruction_max_abs_error": 0.0,
    "full_book_sharpe_research_simulation_not_forward_evidence": 1.7846281534351103,
    "marginal_book_sharpe_research_diagnostics": {
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      "crypto_carry_wk": {
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      "k30_dn_63": {
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        "book_sharpe_with_sleeve_replaced_by_cash": 1.637795681607975,
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      "managed_futures": {
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        "book_sharpe_with_sleeve_replaced_by_cash": 1.875465970548092,
        "marginal_book_sharpe_delta": -0.09083781711298178
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    "maximum_pairwise_correlation": 0.20975189522943685,
    "pairwise_correlations": [
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        "correlation": 0.039263626988088135,
        "pair": [
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        "pair": [
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    ]
  },
  "schema": "canli.alphac-current-book-diversification-study.v1",
  "source_bindings": {
    "admission_contract": {
      "path": "config/sleeve_admission_contract.json",
      "sha256": "6bc72c1f47675b4e14897e1ba3aad6e56aba9b5f013a7b9bae57f930e8d3b8b6"
    },
    "book_implementation": {
      "path": "src/alphaforge/portfolio/book.py",
      "sha256": "f63f2bc83ddf739f7e91c0ba8b2cd095984f26148461b56ddbb7a69c8ccd9c07"
    },
    "current_book_drawdown": {
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      "path": "artifacts/analysis/current_book_drawdown/result.json",
      "sha256": "8c99fd77e1212ff9bdd7ddb66df7bb5b04b170673c8687b0de3ff4b6c6b70ce7"
    },
    "drawdown_implementation": {
      "path": "scripts/analyze_current_book_drawdown.py",
      "sha256": "24d93be7cb2a6d6c1a64a7e219b4c1bc5c7d00b6d48ec2123ef0068ee6cd526e"
    },
    "legacy_v6_admission_contract": {
      "path": "config/archive/sleeve_admission_contract_v6_superseded.json",
      "sha256": "5f628a44ae73ed9c412b225ac9dc56c4e59c1bc0645e2ebde251501e938b9932"
    },
    "live_contract": {
      "path": "config/live_change_contract.json",
      "sha256": "a28ea309bf15253229f9cfa11da4c786323076d1aef6c83ffda5d7615338793d"
    },
    "market_factor_implementation": {
      "path": "src/alphaforge/portfolio/market_factor.py",
      "sha256": "da817e6e953224b3602f20b4cb32339bf94f632453d883f8e3896a609685f6f0"
    },
    "market_factor_source_corpus": {
      "files": 33,
      "manifest_sha256": "06d47fe170a286b0cdaebee50fbadda56f29cce88c076a7655792b3bdd518dc8"
    },
    "paper_state_builder": {
      "path": "scripts/paper_trading_state.py",
      "sha256": "ac41a0480a860a8ca08588ce2e0f36e6db6b68c6ac6980816ee44b35738311c5"
    },
    "protocol": {
      "path": "docs/design/CURRENT_BOOK_DIVERSIFICATION_STUDY_PROTOCOL.md",
      "sha256": "be16f0091ad5d1ea210384cde26d8ae040ad3106b354acedb50213a1ed3f7fdf"
    },
    "sleeve_equity_inputs": {
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      "artifacts/walkforward/crypto_carry_wk/equity.parquet": "37598579af6f34892e40902e2a357e4b07993b3e572012a1da311f7e91798a2a",
      "artifacts/walkforward/k30_dn_63/equity.parquet": "76f82c8df3726f049144d7699c0f13069db6a1e0d1f1e4570babd8d82a85cfc9",
      "artifacts/walkforward/managed_futures/equity.parquet": "870c87827ac72ab8759d77d511a1207da44d5ec679ee24eb18bb1cdd0aeb75b3"
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    "study_implementation": {
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      "sha256": "8309f592bfca5c1c011d60013bc0a65bdd4fb6bf83f26347c817151fb71aa6f2"
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  },
  "status": "CURRENT_COMPOSITION_DIVERSIFICATION_OBJECTIVE_GAP_RESEARCH_ONLY",
  "trial_accounting": {
    "classification": "RETROSPECTIVE_EXISTING_RETURN_RISK_REMEASUREMENT",
    "hypothesis_identities_spent": 0,
    "return_data_were_known_before_protocol": true
  },
  "window": {
    "calendar_rows": 1061,
    "end": "2026-06-01",
    "start": "2023-07-07"
  }
}