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The S&P500 is a backtesting reference benchmark.

You can compare portfolio performance through drawdown periods with backtesting tools.

Macroeconomic drawdowns are good times to have cash for acquisitions; instead of free government cheese.

"Tear Sheets: Definition and Examples in Finance, Vs. Prospectus" https://www.investopedia.com/terms/t/tearsheets.asp :

> While tear sheets date back to the old days when stockbrokers would rip individual pages out of the S&P summary book and send them to current or potential clients, most information is extracted online today. Therefore, any concise representation of a company's business fundamentals could be considered a tear sheet.

From https://news.ycombinator.com/item?id=24428206#24429801 :

> pyfolio.tears.create_interesting_times_tear_sheet measures algorithmic trading algorithm performance during "stress events" https://github.com/quantopian/pyfolio/blob/4b901f6d73aa02ceb... :

>> Generate a number of returns plots around interesting points in time, like [...]

From https://news.ycombinator.com/item?id=19111911 :

> pyfolio/examples/zipline_algo_example.ipynb: https://nbviewer.org/github/quantopian/pyfolio/blob/master/p... > "Worst Drawdown Periods"

Drawdown > Trading definitions: https://en.wikipedia.org/wiki/Drawdown_(economics)#Trading_d...

awesome-quant > Python > Trading & Backtesting: https://github.com/wilsonfreitas/awesome-quant#trading--back...

S&P500: https://en.wikipedia.org/wiki/S%26P_500



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