>> I'm going to assume this project is at best a few years old, so return over index is more likely to be an indicator of overbetting (taking on too much risk)

>> I'm going to assume this project is at best a few years old, so return over index is more likely to be an indicator of overbetting (taking on too much risk) than a performance indicator. Best metric here would be a Sharpe Ratio and drawdown details. https://en.wikipedia.org/wiki/Sharpe_ratio https://en.wikipedia.org/wiki/Sharpe_ratio > This system is impossible to test. I would be hesitant to trust it. Disagree. Best test would be a paper test going forward, audited by a common platform.