Chapter 6 · §5

How scoring works

The exact scoring formula is not public, but the scoring principles are public.

Participants are judged on a combination of:

FIVE SCORING PILLARS Benchmark- adjusted return above your benchmark Stability & consistency week-to-week steadiness Drawdown control losses kept bounded Portfolio discipline no extreme concentration Realistic execution sane turnover, no gaming fills
All five pillars count. No single one wins the league.

Benchmark-Aware League

When you enter this league, you choose an approved benchmark for your strategy.

Your score is not based on raw return alone. It is based on the value your strategy adds beyond obvious market direction and broad sector drift. In plain terms, beating a benchmark by taking a clean, disciplined view can help you; simply riding a strong market or one hot segment of the market is not enough on its own.

BENCHMARK-AWARE FRAME return time → your strategy your benchmark edge Score is the value added beyond benchmark, not raw return.

Market-Neutral / Alpha League

This league is designed for participants who want to be judged on alpha rather than broad market direction.

Entries in this league are evaluated against a dynamic reference model that adjusts for broad market and sector exposures. This is intended to reward genuine stock selection, portfolio construction, and stable alpha generation rather than passive directional drift.

ALPHA FRAME — DECOMPOSING TOTAL RETURN Market exposure stripped Sector exposure stripped Alpha MEASURED stable alpha generation Alpha = return after market and sector exposures are removed.