Hedge Fund Exercise Leaderboard
Demo with 5 fake funds
This is a demo, not the live competition dashboard. It uses five entirely fictional funds and real Yahoo Finance prices from September 22, 2025 through December 03, 2025, regenerated fresh on every render. Ranking is based on turnover-adjusted Sharpe, \(SR_{TO} = SR - \lambda\overline{TO}\), with \(\lambda = 0.5\).
Performance Leaderboard
| Performance Leaderboard | |||||||||
| As of December 03, 2025 | Benchmark: IVV | |||||||||
| Rank | WTD | MTD | Trailing 4-Week | ITD | SR_f | SR | Avg Weekly TO | Information Ratio | |
|---|---|---|---|---|---|---|---|---|---|
| DefensiveCarry | 1 | −1.02% | −1.02% | 2.36% | 5.78% | 3.50 | 3.50 | 0.00% | 1.02 |
| NorthStarLong | 2 | 0.28% | 0.28% | −0.34% | 4.03% | 1.57 | 1.58 | 1.57% | 0.69 |
| LeveredMomentum | 3 | 0.90% | 0.90% | −3.33% | 1.09% | −0.33 | 0.33 | 130.61% | −0.39 |
| ActiveRotation | 4 | −1.29% | −1.29% | 0.49% | 0.51% | −0.82 | 0.24 | 212.79% | −1.25 |
| MarketNeutralLab | 5 | −1.74% | −1.74% | −4.30% | −2.52% | −2.09 | −1.39 | 141.98% | −1.54 |
| IVV | — | 0.06% | 0.06% | 1.24% | 3.06% | — | 1.18 | — | — |
| Rank: standard competition ranking (1, 2, 2, 4) among rank-eligible funds, based on SR_f. IVV is shown for reference and is never ranked. | |||||||||
| Fund: the student fund name, or IVV shown for reference as the trading benchmark. | |||||||||
| WTD: week-to-date compounded return, from the most recent Monday through the as-of date. | |||||||||
| MTD: month-to-date compounded return, from the first trading day of the current month through the as-of date. | |||||||||
| Trailing 4-Week: compounded return over the trailing 20 trading days ending on the as-of date. | |||||||||
| ITD: inception-to-date compounded return, computed since the fund’s first trading day. | |||||||||
| SR_f: turnover-adjusted Sharpe ratio, computed since inception: \(SR_f = SR - \lambda\overline{TO}\), where \(\lambda = 0.5\) and \(\overline{TO}\) is average weekly turnover since inception. | |||||||||
| SR: annualized Sharpe ratio, computed since inception. Undefined until a fund has 10 valid daily return observations. | |||||||||
| Avg Weekly TO: average weekly turnover (sum of absolute weight changes across effective position matrices) since inception. | |||||||||
| Information Ratio: annualized ratio of mean active return (over the benchmark) to tracking error, computed since inception. Undefined until a fund has 10 valid daily return observations; not defined for IVV, since its active return versus itself is identically zero. | |||||||||
| Returns are computed from adjusted closing prices. | |||||||||
| Source: Yahoo Finance | |||||||||
Rebased Growth Index
Fund Composition Table
| Fund Composition | |||||
| As of December 03, 2025 | |||||
| Max Positions | Min Positions | Current Positions | Effective # of Bets | Top 10 Concentration | |
|---|---|---|---|---|---|
| DefensiveCarry | 5 | 5 | 5 | 4.1 | 100.0% |
| NorthStarLong | 8 | 8 | 8 | 7.4 | 100.0% |
| LeveredMomentum | 6 | 5 | 6 | 5.0 | 100.0% |
| ActiveRotation | 4 | 3 | 3 | 2.9 | 100.0% |
| MarketNeutralLab | 6 | 6 | 6 | 6.0 | 100.0% |
| Fund: the student fund name. IVV is excluded, since it is a single-instrument reference benchmark rather than a managed portfolio. | |||||
| Max Positions / Min Positions: the maximum and minimum number of distinct nonzero positions (long or short) held on any valuation date since the fund’s first effective position matrix. No limit or benchmark is imposed; these are purely descriptive. | |||||
| Current Positions: the number of distinct nonzero positions held as of the latest date with a valid effective position matrix. | |||||
| Effective # of Bets: \(1 / \sum_i p_i^2\), where \(p_i\) is position \(i\)’s share of current gross exposure, \(p_i = |V_i| / \sum_j |V_j|\). Uses absolute market values so long and short positions do not offset one another. Lower values indicate exposure concentrated in fewer positions; higher values indicate exposure spread more evenly. Neither is inherently better. | |||||
| Top 10 Concentration: the share of current gross exposure represented by the 10 largest positions by absolute market value (all positions, if fewer than 10 are held). | |||||
| Position counts are computed since fund inception; Effective # of Bets and Top 10 Concentration use only the latest valid position matrix. | |||||
| Funds are listed in leaderboard rank order for consistency with other tabs. | |||||
Contribution by Fund
Each bar aggregates every ticker the fund has ever held into its Top 5 positive contributors, Top 5 negative contributors, and separate Other Positive / Other Negative residuals, so the chart stays readable even for funds with 50+ historical positions. Contributions are linked across days using Carino logarithmic smoothing so that, for each fund, the segments sum exactly to its since-inception compounded return (marked with a diamond) — a simple sum of daily percentage contributions would not reconcile once returns compound over multiple periods. Days with pending/blocked market data contribute zero, consistent with how the equity curve treats them elsewhere in this dashboard. Higher or lower concentration of contribution across positions is not itself favorable or unfavorable; this view shows where return came from, not how it was constructed.
Attribution Reconciliation Check
| Attribution Total | Reported ITD Return | Difference | |
|---|---|---|---|
| DefensiveCarry | 5.78% | 5.78% | 0.00000000 |
| NorthStarLong | 4.03% | 4.03% | 0.00000000 |
| LeveredMomentum | 1.09% | 1.09% | 0.00000000 |
| ActiveRotation | 0.51% | 0.51% | 0.00000000 |
| MarketNeutralLab | −2.52% | −2.52% | 0.00000000 |
| Attribution Total: sum of every ticker’s Carino-linked since-inception contribution. | |||
| Reported ITD Return: the fund’s compounded since-inception return implied by its daily equity curve, used as the reconciliation target. | |||
| Difference: Attribution Total minus Reported ITD Return; expected to be ~0 (floating-point only). A material difference would indicate a data or linking issue rather than being forced to zero. | |||
Selected Fund Detail
This view ranks a single fund’s up-to-15 largest contributors and detractors by absolute since-inception contribution, with any remaining positions summarized in a single All Other Positions bar — avoiding a wall of 50-100+ individual bars. Use the dropdown to switch funds.
Underwater Plot
Advanced Quant Risk
| Max Drawdown | Ann. Volatility | Sortino | Skewness | Kurtosis | VaR 95% | CVaR 95% | 10D Beta | Current Week TO | Net Exposure | Gross Exposure | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DefensiveCarry | −2.53% | 7.87% | 5.21 | −0.84 | 3.85 | −1.01% | −1.10% | 0.45 | 0.00% | 100.00% | 100.00% |
| NorthStarLong | −4.60% | 12.66% | 2.20 | −0.82 | 5.04 | −1.13% | −1.74% | 0.58 | 1.41% | 99.96% | 99.96% |
| LeveredMomentum | −11.29% | 26.93% | 0.46 | −0.09 | 3.80 | −2.66% | −3.56% | 1.26 | 179.51% | 109.64% | 179.99% |
| ActiveRotation | −4.06% | 14.37% | 0.35 | 0.00 | 4.49 | −1.40% | −1.93% | 0.51 | 200.13% | 100.05% | 100.05% |
| MarketNeutralLab | −4.54% | 8.65% | −1.80 | −0.24 | 3.46 | −1.03% | −1.24% | −0.03 | 199.89% | −0.76% | 119.83% |
| IVV | −5.06% | 13.10% | 1.60 | −0.86 | 4.78 | −1.32% | −1.96% | — | — | 100.00% | 100.00% |
| Fund: the student fund name, or IVV shown for reference as the trading benchmark. | |||||||||||
| Max Drawdown: largest peak-to-trough decline in the cumulative return series since inception. | |||||||||||
| Ann. Volatility: annualized standard deviation of daily returns, computed since inception. | |||||||||||
| Sortino: annualized return relative to downside deviation, computed since inception, penalizing only returns below a 0% minimum acceptable return. | |||||||||||
| Skewness: sample skewness of daily returns, computed since inception. | |||||||||||
| Kurtosis: sample kurtosis (not excess kurtosis) of daily returns, computed since inception. | |||||||||||
| VaR 95%: empirical 5th percentile of daily returns (R quantile type 7), computed since inception. Retains the sign of returns: losses are negative. | |||||||||||
| CVaR 95%: mean daily return conditional on being at or below the VaR 95% threshold, computed since inception. Retains the sign of returns: losses are negative. | |||||||||||
| 10D Beta: rolling regression beta of daily portfolio return on benchmark return, using the trailing 10 trading days. Not applicable for IVV. | |||||||||||
| Current Week TO: sum of absolute weight changes across position matrix submissions effective during the current week. | |||||||||||
| Net Exposure: sum of current position weights (long minus short). | |||||||||||
| Gross Exposure: sum of absolute current position weights (long plus short). | |||||||||||
| Returns are computed from adjusted closing prices. | |||||||||||
| Source: Yahoo Finance | |||||||||||
Rolling Active Exposure
Operational Status
| Effective Matrix | Matrix Date | Effective Date | Latest Attempt | Submission Message | Market Data | Market Warning | |
|---|---|---|---|---|---|---|---|
| NorthStarLong | PositionMatrix-2025-11-28-NorthStarLong.csv | 2025-11-28 | 2025-12-01 | valid | Valid submission | ok | — |
| MarketNeutralLab | PositionMatrix-2025-11-28-MarketNeutralLab.csv | 2025-11-28 | 2025-12-01 | valid | Valid submission | ok | — |
| LeveredMomentum | PositionMatrix-2025-11-28-LeveredMomentum.csv | 2025-11-28 | 2025-12-01 | valid | Valid submission | ok | — |
| DefensiveCarry | PositionMatrix-2025-11-28-DefensiveCarry.csv | 2025-11-28 | 2025-12-01 | valid | Valid submission | ok | — |
| ActiveRotation | PositionMatrix-2025-11-28-ActiveRotation.csv | 2025-11-28 | 2025-12-01 | valid | Valid submission | ok | — |
Prototype Validation Exceptions
| Injected Prototype Edge Cases | ||||
| Fund | Matrix Date | Scenario | Status | Explanation |
|---|---|---|---|---|
| LeveredMomentum | 2025-10-24 | late_submission | late | Committer timestamp is after the 5:00 PM ET deadline |
| MarketNeutralLab | 2025-10-17 | duplicate_ticker | invalid | Duplicate ticker after trimming and uppercasing |
| NorthStarLong | 2025-10-10 | malformed_overwrite | invalid | CSV must contain exactly Date, Ticker, Weight |
| ActiveRotation | 2025-10-05 | non_trading_day | invalid | Position Matrix date is not an IVV trading day |