Time under water
How long the portfolio spent below a previous high.
In the demo portfolio
362 days
How it is computed here
The longest run of consecutive sessions where the cumulative curve sat below its running maximum.
Worked example
- The longest stretch spent below a previous high: 362 calendar days.
- Right now it has been 20 days since the last high.
Demo portfolio: four invented companies, generated prices, measured by the real engine. Past returns do not predict future ones.
Where it misleads
Depth gets reported and duration is what makes people sell: a 40% fall recovered in six months is survivable, a 25% one that lasts four years is not.