Backtest design and evaluation

A cluster on backtest design and evaluation for researchers trying to tell the difference between a real edge and a flattering simulation.

Reviewed by Alphora Research

Updated June 30, 2026

This cluster can hold many durable evaluation questions without repeating the more workflow-oriented pages already in the library. This series is written for researchers trying to tell the difference between a real edge and a flattering simulation.

Use the draft pages to widen coverage quickly, then promote the strongest answers once they have concrete product links, cleaner cross-links, and enough specificity to stand on their own.

Questions in this cluster

Each page answers a narrower search-shaped question while staying linked to the broader research theme.

Strategy intuition

definition

What is a good benchmark for a market-neutral strategy?

Learn what is a good benchmark for a market-neutral strategy, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Research process

implementation

How do you spot backtest leakage?

Learn how do you spot backtest leakage, why it matters in backtest design and evaluation, and what to validate before trusting the workflow in live research.

Strategy intuition

definition

Which metrics matter more than Sharpe ratio?

Learn which metrics matter more than Sharpe ratio, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

What is benchmark design?

Learn what is benchmark design, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

Why does benchmark design matter in systematic trading?

Learn why does benchmark design matter in systematic trading, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

What is data leakage?

Learn what is data leakage, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

Why does data leakage matter in systematic trading?

Learn why does data leakage matter in systematic trading, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

What is out-of-sample evaluation?

Learn what is out-of-sample evaluation, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

Why does out-of-sample evaluation matter in systematic trading?

Learn why does out-of-sample evaluation matter in systematic trading, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

What is parameter stability?

Learn what is parameter stability, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

Why does parameter stability matter in systematic trading?

Learn why does parameter stability matter in systematic trading, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.

Strategy intuition

definition

What is stress testing?

Learn what is stress testing, why it matters in backtest design and evaluation, and how it connects to a practical systematic trading workflow.