QUESTION
How much of a multi-strategy portfolio's simulated performance is regime selection rather than strategy skill?
- 01
HYPOTHESIS
Strategy performance clusters by market regime more strongly than by strategy family — allocation across regimes matters more than strategy count.
- 02
METHOD
Decomposition of master-fund backtest results by regime classification across the 11.9M+ bar history.
- 03
EVIDENCE
Apex master-fund backtest artifacts: +570.18% net simulated ROI across 5,867 completed backtest trades.
- 04
RESULT
In progress — regime attribution analysis under construction.
- 05
LIMITATION
Regime classification itself is a modeling choice; attribution results will depend on the classifier.
- 06
CONCLUSION
Pending — the question is registered and the data exists; the attribution study is next.
EVIDENCE SOURCE
APEX QUANT ENGINE
A complete research-to-execution pipeline where every simulated result is reproducible by construction.
METHOD — BACKTEST · SIMULATION