Arena run #398

You are an Arena strategy executor. You must follow the strategy rules strictly and output ONLY valid JSON. You are NOT allowed to invent prices, fundamentals, earnings dates, or sentiment. If a field is null/empty, treat it as unknown. You are a constrained selector (no narrative).

{"task": "stage1_universe_scan", "region": "US", "strategy": {"key": "meanrev-v1", "name": "Two-Stage LLM Mean-Reversion (Arena v1)", "rules": {"max_positions": 10, "max_buys_per_run": 2, "avoid_overtrading": true, "max_sells_per_run": 2, "max_gross_leverage": 3.0, "fixed_position_size": 3000.0, "universe_symbols_eu": [], "universe_symbols_us": []}}, "selection_rules": {"horizon": "2-10 trading days", "target": "short-term mean reversion in liquid equities", "constraints": ["Select exactly 5 candidates", "Avoid earnings within 5 trading days (if known)", "Avoid highly binary/event-driven moves (if known)", "Avoid sector concentration: max 1 per sector unless clearly justified (sector may be unknown)"]}, "universe": [{"symbol": "TRN_CFD.UK", "name": "TRAINLINE PLC", "sector": "", "last_price": 206.0, "change_1d_pct": -12.93322062552832, "distance_from_ma200_pct": -22.557701091522887, "distance_from_ma50_pct": -12.560104316644482, "volatility_20d_pct": 131.09279103846345, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "VCT_CFD.UK", "name": "VICTREX PLC", "sector": "", "last_price": 695.0, "change_1d_pct": -0.42979942693409656, "distance_from_ma200_pct": -3.2784163489814833, "distance_from_ma50_pct": 6.2434457730395465, "volatility_20d_pct": 118.65826330943554, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "SYNT_CFD.UK", "name": "SYNTHOMER PLC", "sector": "", "last_price": 20.2, "change_1d_pct": -32.666666666666664, "distance_from_ma200_pct": -73.62254515017194, "distance_from_ma50_pct": -61.002505878582646, "volatility_20d_pct": 362.0742865046256, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "DLN_CFD.UK", "name": "DERWENT LONDON PLC", "sector": "", "last_price": 1953.0, "change_1d_pct": 10.401356698699837, "distance_from_ma200_pct": 5.069478604951705, "distance_from_ma50_pct": 12.150447212111025, "volatility_20d_pct": 115.39088732649292, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "CRDA_CFD.UK", "name": "CRODA INTERNATIONAL PLC", "sector": "", "last_price": 3121.0, "change_1d_pct": 13.367235742826011, "distance_from_ma200_pct": 10.093851216079353, "distance_from_ma50_pct": 9.83246554776207, "volatility_20d_pct": 109.18178749390499, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "RHIM_CFD.UK", "name": "", "sector": "", "last_price": 2960.0, "change_1d_pct": 9.023941068139973, "distance_from_ma200_pct": 12.939755835694466, "distance_from_ma50_pct": 17.95826987098712, "volatility_20d_pct": 137.0123103901981, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "BLND_CFD.UK", "name": "BRITISH LAND CO PLC", "sector": "", "last_price": 400.4, "change_1d_pct": -3.4715525554484206, "distance_from_ma200_pct": 6.86656372352572, "distance_from_ma50_pct": -0.2590673575129543, "volatility_20d_pct": 90.47340329611018, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "BBY_CFD.UK", "name": "BALFOUR BEATTY PLC", "sector": "", "last_price": 759.18, "change_1d_pct": 5.222453222453205, "distance_from_ma200_pct": 33.313724414201815, "distance_from_ma50_pct": 8.832962232591, "volatility_20d_pct": 54.25956465831767, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "BIG_CFD.FR", "name": "Bigben Interactive", "sector": "", "last_price": 0.473, "change_1d_pct": -40.65244667503137, "distance_from_ma200_pct": -57.481044006670004, "distance_from_ma50_pct": -45.84258856396987, "volatility_20d_pct": 245.7660340614924, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "DCC_CFD.UK", "name": "DCC PLC", "sector": "", "last_price": 5080.0, "change_1d_pct": 16.08775137111518, "distance_from_ma200_pct": 5.470412938362834, "distance_from_ma50_pct": 5.336155457586478, "volatility_20d_pct": 94.82279659179201, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "IMI_CFD.UK", "name": "IMI PLC", "sector": "", "last_price": 2828.0, "change_1d_pct": 8.26952526799387, "distance_from_ma200_pct": 29.012317870749314, "distance_from_ma50_pct": 11.107007677698544, "volatility_20d_pct": 78.40398881701634, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "RKT_CFD.UK", "name": "", "sector": "", "last_price": 6416.0, "change_1d_pct": -0.773275595422207, "distance_from_ma200_pct": 9.203621104249947, "distance_from_ma50_pct": 1.3697812890090422, "volatility_20d_pct": 53.84159623395557, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "CNA_CFD.UK", "name": "CENTRICA PLC", "sector": "", "last_price": 189.9, "change_1d_pct": -3.6040609137055757, "distance_from_ma200_pct": 12.694478089261874, "distance_from_ma50_pct": 4.223265003704624, "volatility_20d_pct": 4354.2492559168495, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "ATG_CFD.UK", "name": "AUCTION TECHNOLOGY GROUP", "sector": "", "last_price": 316.5, "change_1d_pct": 3.770491803278686, "distance_from_ma200_pct": null, "distance_from_ma50_pct": 2.606496790507684, "volatility_20d_pct": 3869.8570945036245, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "CSGP_CFD.US", "name": "CoStar Group Inc", "sector": "", "last_price": 44.99, "change_1d_pct": -0.08882966910948031, "distance_from_ma200_pct": null, "distance_from_ma50_pct": -27.832637164507577, "volatility_20d_pct": 6517.0730512753025, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "BRBY_CFD.UK", "name": "BURBERRY GROUP PLC", "sector": "", "last_price": 1174.5, "change_1d_pct": -0.550381033022862, "distance_from_ma200_pct": null, "distance_from_ma50_pct": -4.69118971687319, "volatility_20d_pct": 4100.463229875871, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}, {"symbol": "COTY_CFD.US", "name": "Coty Inc", "sector": "", "last_price": 2.65, "change_1d_pct": -0.7490636704119868, "distance_from_ma200_pct": null, "distance_from_ma50_pct": -12.425644415069403, "volatility_20d_pct": 7661.46272234243, "market_cap_usd": null, "avg_daily_volume_usd": null, "days_to_next_earnings": null, "earnings_confirmed": null, "news_sentiment_score": null, "news_headlines_last_3": [], "data_quality_note": "snapshot_ok_prices_technicals_only"}], "output_schema": {"selected_stocks": [{"symbol": "string", "mean_reversion_score": "integer 0-100", "selection_reason": "short, concrete, indicator-based"}], "rejected_common_reasons": ["string"]}}

{
  "selected_stocks": [
    {
      "symbol": "BIG_CFD.FR",
      "selection_reason": "-41% 1d drop, -46% below MA50, -57% below MA200, high vol 246%",
      "mean_reversion_score": 98
    },
    {
      "symbol": "SYNT_CFD.UK",
      "selection_reason": "-33% 1d drop, -61% below MA50, -74% below MA200, high vol 362%",
      "mean_reversion_score": 95
    },
    {
      "symbol": "TRN_CFD.UK",
      "selection_reason": "-13% 1d drop, -13% below MA50, -23% below MA200, vol 131%",
      "mean_reversion_score": 88
    },
    {
      "symbol": "CSGP_CFD.US",
      "selection_reason": "-28% below MA50, high vol 6517% (US stock)",
      "mean_reversion_score": 82
    },
    {
      "symbol": "COTY_CFD.US",
      "selection_reason": "-12% below MA50, high vol 7661% (US stock)",
      "mean_reversion_score": 78
    }
  ],
  "rejected_common_reasons": [
    "Positive 1d change",
    "Near or above MA50/MA200",
    "Insufficient recent drawdown for short-term reversion",
    "Low volatility for mean-reversion setup"
  ]
}

You are an Arena portfolio manager. You must follow the strategy rules strictly and output ONLY valid JSON. You are NOT allowed to invent prices/fundamentals/news/earnings. If a field is null/empty, treat it as unknown. Avoid overtrading: if changes are marginal, prefer HOLD. Do not churn.

{"task": "stage2_portfolio_management", "region": "US", "strategy": {"key": "meanrev-v1", "name": "Two-Stage LLM Mean-Reversion (Arena v1)", "rules": {"max_positions": 10, "max_buys_per_run": 2, "avoid_overtrading": true, "max_sells_per_run": 2, "max_gross_leverage": 3.0, "fixed_position_size": 3000.0, "universe_symbols_eu": [], "universe_symbols_us": []}}, "portfolio_constraints": {"initial_equity": 10000.0, "max_positions": 10, "fixed_position_size": 3000.0, "max_gross_leverage": 3.0, "overtrading_rules": ["Max 2 SELL actions per run unless risk event forces more", "Max 2 BUY actions per run", "If no clear improvement vs current holdings, output HOLD for everything"]}, "current_portfolio": [{"symbol": "ARCAD_CFD.NL", "qty": 0.0, "avg_price": 29.7, "last_price": 28.06, "unrealized_pnl": 0.0, "opened_at": "2026-02-21T09:33:26.900894+00:00"}, {"symbol": "BIG_CFD.FR", "qty": 0.0, "avg_price": 0.453, "last_price": 0.453, "unrealized_pnl": 0.0, "opened_at": "2026-02-20T09:33:44.817899+00:00"}, {"symbol": "BXP_CFD.US", "qty": 0.0, "avg_price": 60.835, "last_price": 59.405, "unrealized_pnl": 0.0, "opened_at": "2026-02-22T17:33:48.338981+00:00"}, {"symbol": "BYIT_CFD.UK", "qty": 10.252904989747094, "avg_price": 292.6, "last_price": 292.6, "unrealized_pnl": 0.0, "opened_at": "2026-02-25T17:57:28.313088+00:00"}, {"symbol": "CABO_CFD.US", "qty": 0.0, "avg_price": 94.6, "last_price": 96.44, "unrealized_pnl": 58.3509513742073, "opened_at": "2026-02-24T18:14:37.115518+00:00"}, {"symbol": "CAR_CFD.US", "qty": 0.0, "avg_price": 92.465, "last_price": 97.54, "unrealized_pnl": 164.65689720434767, "opened_at": "2026-02-25T17:57:28.313088+00:00"}, {"symbol": "COIN_CFD.US", "qty": 0.0, "avg_price": 168.575, "last_price": 171.13, "unrealized_pnl": 0.0, "opened_at": "2026-02-20T17:33:34.647633+00:00"}, {"symbol": "CRWD_CFD.US", "qty": 0.0, "avg_price": 350.79999999999995, "last_price": 350.055, "unrealized_pnl": 0.0, "opened_at": "2026-02-23T18:14:12.978497+00:00"}, {"symbol": "ESTC_CFD.US", "qty": 0.0, "avg_price": 58.085, "last_price": 55.28, "unrealized_pnl": -144.87389171042437, "opened_at": "2026-02-20T17:33:34.647633+00:00"}, {"symbol": "EXPO_CFD.US", "qty": 0.0, "avg_price": 66.815, "last_price": 70.025, "unrealized_pnl": 0.0, "opened_at": "2026-02-16T17:30:52.485845+00:00"}, {"symbol": "FBIN_CFD.US", "qty": 0.0, "avg_price": 50.974999999999994, "last_price": 54.35, "unrealized_pnl": 0.0, "opened_at": "2026-02-16T17:30:52.485845+00:00"}, {"symbol": "FICO_CFD.US", "qty": 0.0, "avg_price": 1208.505, "last_price": 1405.2800000000002, "unrealized_pnl": 0.0, "opened_at": "2026-02-24T18:14:37.115518+00:00"}, {"symbol": "FLO_CFD.US", "qty": 0.0, "avg_price": 9.875, "last_price": 10.055, "unrealized_pnl": 0.0, "opened_at": "2026-02-19T00:47:27.070066+00:00"}, {"symbol": "FUTR_CFD.UK", "qty": 7.488766849725412, "avg_price": 400.6, "last_price": 414.2, "unrealized_pnl": 101.84722915626534, "opened_at": "2026-02-18T09:36:37.284518+00:00"}, {"symbol": "HAIN_CFD.US", "qty": 0.0, "avg_price": 0.8, "last_price": 0.8, "unrealized_pnl": 0.0, "opened_at": "2026-02-27T18:23:55.960577+00:00"}, {"symbol": "HIK_CFD.UK", "qty": 0.0, "avg_price": 1275.0, "last_price": 1342.0, "unrealized_pnl": 0.0, "opened_at": "2026-02-26T10:33:24.101894+00:00"}, {"symbol": "ICG_CFD.UK", "qty": 0.0, "avg_price": 1700.0, "last_price": 1719.0, "unrealized_pnl": 0.0, "opened_at": "2026-02-16T09:30:55.514112+00:00"}, {"symbol": "JUN3_CFD.DE", "qty": 95.20787051729609, "avg_price": 31.51, "last_price": 30.167, "unrealized_pnl": -127.86417010472864, "opened_at": "2026-03-02T10:31:26.559356+00:00"}, {"symbol": "LMND_CFD.US", "qty": 0.0, "avg_price": 61.5, "last_price": 59.89, "unrealized_pnl": 0.0, "opened_at": "2026-02-19T17:33:27.020111+00:00"}, {"symbol": "LPX_CFD.US", "qty": 0.0, "avg_price": 86.45, "last_price": 86.15, "unrealized_pnl": 0.0, "opened_at": "2026-02-19T00:47:27.070066+00:00"}, {"symbol": "NET_CFD.US", "qty": 0.0, "avg_price": 176.96, "last_price": 164.32, "unrealized_pnl": 0.0, "opened_at": "2026-02-21T17:32:49.140800+00:00"}, {"symbol": "OCDO_CFD.UK", "qty": 13.824884792626728, "avg_price": 217.0, "last_price": 217.0, "unrealized_pnl": 0.0, "opened_at": "2026-02-21T09:33:26.900894+00:00"}, {"symbol": "OKTA_CFD.US", "qty": 42.747221430607006, "avg_price": 70.18, "last_price": 73.29, "unrealized_pnl": 132.94385864918777, "opened_at": "2026-02-23T18:14:12.978497+00:00"}, {"symbol": "PAYC_CFD.US", "qty": 0.0, "avg_price": 121.22, "last_price": 119.79, "unrealized_pnl": 0.0, "opened_at": "2026-02-19T17:33:27.020111+00:00"}, {"symbol": "PROX_CFD.BE", "qty": 429.79942693409737, "avg_price": 6.98, "last_price": 7.3, "unrealized_pnl": 137.5358166189109, "opened_at": "2026-02-28T10:51:05.818250+00:00"}, {"symbol": "RMV_CFD.UK", "qty": 0.0, "avg_price": 424.3, "last_price": 417.16, "unrealized_pnl": 0.0, "opened_at": "2026-02-19T09:33:49.074031+00:00"}, {"symbol": "THG_CFD.UK", "qty": 85.76329331046313, "avg_price": 34.98, "last_price": 34.98, "unrealized_pnl": 0.0, "opened_at": "2026-02-19T09:33:49.074031+00:00"}, {"symbol": "TRN_CFD.UK", "qty": 0.0, "avg_price": 196.2, "last_price": 196.5, "unrealized_pnl": 0.0, "opened_at": "2026-02-16T09:30:55.514112+00:00"}, {"symbol": "TRST_CFD.UK", "qty": 0.0, "avg_price": 134.3, "last_price": 139.6, "unrealized_pnl": 0.0, "opened_at": "2026-02-18T09:36:37.284518+00:00"}, {"symbol": "UKW_CFD.UK", "qty": 32.48511099079589, "avg_price": 92.35, "last_price": 94.79, "unrealized_pnl": 79.26367081754236, "opened_at": "2026-02-23T10:32:09.961595+00:00"}, {"symbol": "WPP_CFD.UK", "qty": 11.389521640091116, "avg_price": 263.4, "last_price": 240.8, "unrealized_pnl": -257.4031890660588, "opened_at": "2026-02-28T10:51:05.818250+00:00"}, {"symbol": "ZS_CFD.US", "qty": 0.0, "avg_price": 159.76, "last_price": 144.45, "unrealized_pnl": 0.0, "opened_at": "2026-02-21T17:32:49.140800+00:00"}], "candidates": [{"symbol": "BIG_CFD.FR", "mean_reversion_score": 98, "selection_reason": "-41% 1d drop, -46% below MA50, -57% below MA200, high vol 246%"}, {"symbol": "SYNT_CFD.UK", "mean_reversion_score": 95, "selection_reason": "-33% 1d drop, -61% below MA50, -74% below MA200, high vol 362%"}, {"symbol": "TRN_CFD.UK", "mean_reversion_score": 88, "selection_reason": "-13% 1d drop, -13% below MA50, -23% below MA200, vol 131%"}, {"symbol": "CSGP_CFD.US", "mean_reversion_score": 82, "selection_reason": "-28% below MA50, high vol 6517% (US stock)"}, {"symbol": "COTY_CFD.US", "mean_reversion_score": 78, "selection_reason": "-12% below MA50, high vol 7661% (US stock)"}], "output_schema": {"actions": {"sell": [{"symbol": "string", "reason": "string"}], "hold": [{"symbol": "string", "reason": "string"}], "buy": [{"symbol": "string", "position_size": "number (currency amount)", "reason": "string"}]}, "portfolio_rationale": "string"}}

{
  "actions": {
    "buy": [
      {
        "reason": "Top mean reversion score 98: -41% 1d drop, -46% below MA50, -57% below MA200, high vol 246%; extreme oversold",
        "symbol": "BIG_CFD.FR",
        "position_size": 3000
      },
      {
        "reason": "High mean reversion score 95: -33% 1d drop, -61% below MA50, -74% below MA200, high vol 362%; strong buy signal",
        "symbol": "SYNT_CFD.UK",
        "position_size": 3000
      }
    ],
    "hold": [
      {
        "reason": "Flat PnL, stable price at avg; hold for potential reversion",
        "symbol": "BYIT_CFD.UK"
      },
      {
        "reason": "Profitable (+101 PnL), up from avg; hold winner",
        "symbol": "FUTR_CFD.UK"
      },
      {
        "reason": "Flat PnL, stable; no strong signal to exit",
        "symbol": "OCDO_CFD.UK"
      },
      {
        "reason": "Profitable (+132 PnL), up from avg; hold for reversion",
        "symbol": "OKTA_CFD.US"
      },
      {
        "reason": "Profitable (+137 PnL), up from avg; hold winner",
        "symbol": "PROX_CFD.BE"
      },
      {
        "reason": "Flat PnL, stable price; hold",
        "symbol": "THG_CFD.UK"
      },
      {
        "reason": "Profitable (+79 PnL), up from avg; hold",
        "symbol": "UKW_CFD.UK"
      }
    ],
    "sell": [
      {
        "reason": "Significant unrealized loss (-127), position down 4% from avg, not reverting; better oversold opportunities available",
        "symbol": "JUN3_CFD.DE"
      },
      {
        "reason": "Largest unrealized loss (-257), down 9% from avg, persistent decline; rotate to higher conviction mean-reversion candidates",
        "symbol": "WPP_CFD.UK"
      }
    ]
  },
  "portfolio_rationale": "Rotated out of 2 biggest losers (JUN3, WPP) with clear non-reversion losses to add 2 top oversold candidates (BIG, SYNT) with extreme mean-reversion scores >95. Keeps positions at 9/10, respects max 2 buys/2 sells, avoids overtrading by targeting only high-conviction signals. Exposure stable under 3x leverage."
}

{
  "selected_stocks": [
    {
      "symbol": "BIG_CFD.FR",
      "selection_reason": "-41% 1d drop, -46% below MA50, -57% below MA200, high vol 246%",
      "mean_reversion_score": 98
    },
    {
      "symbol": "SYNT_CFD.UK",
      "selection_reason": "-33% 1d drop, -61% below MA50, -74% below MA200, high vol 362%",
      "mean_reversion_score": 95
    },
    {
      "symbol": "TRN_CFD.UK",
      "selection_reason": "-13% 1d drop, -13% below MA50, -23% below MA200, vol 131%",
      "mean_reversion_score": 88
    },
    {
      "symbol": "CSGP_CFD.US",
      "selection_reason": "-28% below MA50, high vol 6517% (US stock)",
      "mean_reversion_score": 82
    },
    {
      "symbol": "COTY_CFD.US",
      "selection_reason": "-12% below MA50, high vol 7661% (US stock)",
      "mean_reversion_score": 78
    }
  ],
  "rejected_common_reasons": [
    "Positive 1d change",
    "Near or above MA50/MA200",
    "Insufficient recent drawdown for short-term reversion",
    "Low volatility for mean-reversion setup"
  ]
}