Like Sharpe, but only penalizes downside volatility. Upside variance is free — asymmetry matters.

Return per unit of max pain. Measures how well you're compensated for the worst drawdown you survived.

Spearman rank correlation between your signal direction and realized returns. The gold standard of alpha measurement.

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Statistical significance of your IC. Answers: "Is this alpha real or just noise?"

Percentage of profitable long (buy) trades. Compare with Short WR to detect directional bias in your strategy.

Percentage of profitable short (sell) trades. Low short WR with high Long WR → your strategy is trend-following, not mean-reverting.

Your expected profit on each trade. Positive = edge exists. The higher, the more forgiving your strategy is to execution slippage.

How many longs per short. Reveals directional bias. 1.0x = perfectly balanced. >2x = heavily long-biased (common in bull markets).