{
  "method": "1000 paired within-period moving-block draws, 30 days, seed20260921",
  "caveat": "Descriptive uncertainty; not adjusted for repeated historical inspection or revised features.",
  "rows": [
    {
      "arm": "expanding",
      "chained_return_pct": 81.97193411409947,
      "trend_chained_return_pct": 178.10750549022782,
      "excess_return_percentage_points": -96.13557137612835,
      "relative_wealth_pct": -34.56777306555158,
      "relative_wealth_block_interval_low_pct": -85.74390963216808,
      "relative_wealth_block_interval_high_pct": 164.6846179379865,
      "period_wins": 1,
      "completed_trades": 7,
      "every_period_three_completed_trades": false,
      "decision": "inconclusive_coverage"
    },
    {
      "arm": "three_year",
      "chained_return_pct": -19.455001509534398,
      "trend_chained_return_pct": 178.10750549022782,
      "excess_return_percentage_points": -197.56250699976223,
      "relative_wealth_pct": -71.0381787976248,
      "relative_wealth_block_interval_low_pct": -94.73695083548766,
      "relative_wealth_block_interval_high_pct": 26.220052129748844,
      "period_wins": 1,
      "completed_trades": 28,
      "every_period_three_completed_trades": false,
      "decision": "inconclusive_coverage"
    },
    {
      "arm": "five_year",
      "chained_return_pct": 83.28647975523371,
      "trend_chained_return_pct": 178.10750549022782,
      "excess_return_percentage_points": -94.82102573499411,
      "relative_wealth_pct": -34.095097709732954,
      "relative_wealth_block_interval_low_pct": -77.30497784319599,
      "relative_wealth_block_interval_high_pct": 80.8648039463436,
      "period_wins": 2,
      "completed_trades": 28,
      "every_period_three_completed_trades": false,
      "decision": "inconclusive_coverage"
    }
  ]
}