{
 "abrcx": {
  "sym": "abrcx",
  "name": "INVESCO BALANCED-RISK ALLOCATION FUND",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.02431079155580088,
  "alpha_t_5y": -1.1380135810071292,
  "alpha_t_full": -0.10075378460712034,
  "r2_5y": 0.6866538793533667,
  "r2_full": 0.5702527229743425,
  "corr_portfolio": 0.2971053326694507,
  "corr_benchmark": 0.4914378774853647,
  "alpha_pos_frac": 0.5024875621890548,
  "fund_max_dd": -0.2648698714930865,
  "first": "2009-06-04",
  "verdict": "weak/unstable alpha"
 },
 "acmtx": {
  "sym": "acmtx",
  "name": "AB All Market Real Return Portfolio",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.008977906685541883,
  "alpha_t_5y": -0.6185466916546568,
  "alpha_t_full": -1.8049661183808015,
  "r2_5y": 0.9308174525558985,
  "r2_full": 0.9148055700727797,
  "corr_portfolio": 0.36203745363580186,
  "corr_benchmark": 0.4820324206386384,
  "alpha_pos_frac": 0.5491329479768786,
  "fund_max_dd": -0.5000395256742471,
  "first": "2010-03-10",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "asfcx": {
  "sym": "asfcx",
  "name": "Virtus AlphaSimplex Managed Futures Strategy Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.050524321896119224,
  "alpha_t_5y": -1.0719592828469746,
  "alpha_t_full": 0.6737711569229176,
  "r2_5y": 0.32403220569525515,
  "r2_full": 0.1460167321719531,
  "corr_portfolio": 0.2109754219397301,
  "corr_benchmark": 0.007680002259431506,
  "alpha_pos_frac": 0.5294117647058824,
  "fund_max_dd": -0.38006080801338593,
  "first": "2010-08-02",
  "verdict": "weak/unstable alpha"
 },
 "bflax": {
  "sym": "bflax",
  "name": "Lord Abbett Multi-Asset Balanced Opportunity Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.022357735532510435,
  "alpha_t_5y": -1.8796166397835283,
  "alpha_t_full": 0.5860029940181443,
  "r2_5y": 0.9239162542024056,
  "r2_full": 0.8946990731548573,
  "corr_portfolio": 0.3206688120952309,
  "corr_benchmark": 0.6237577355062855,
  "alpha_pos_frac": 0.441025641025641,
  "fund_max_dd": -0.4235010445079658,
  "first": "2000-05-30",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "cabdx": {
  "sym": "cabdx",
  "name": "AB RELATIVE VALUE FUND, INC.",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.01688728798911227,
  "alpha_t_5y": 0.92785161175982,
  "alpha_t_full": 3.2687846347821083,
  "r2_5y": 0.9097028368139576,
  "r2_full": -1.7763568394002505e-15,
  "corr_portfolio": 0.4020338058839423,
  "corr_benchmark": 0.5313385053392616,
  "alpha_pos_frac": 0.5336322869955157,
  "fund_max_dd": -0.5740208303115659,
  "first": "1990-01-03",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "cabix": {
  "sym": "cabix",
  "name": "AB GLOBAL RISK ALLOCATION FUND, INC.",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.001291960694234989,
  "alpha_t_5y": -0.1012090629895647,
  "alpha_t_full": -0.5420762428779787,
  "r2_5y": 0.8845638778610537,
  "r2_full": 0.8378160490700229,
  "corr_portfolio": 0.30433399548201784,
  "corr_benchmark": 0.7062567757399001,
  "alpha_pos_frac": 0.4666666666666667,
  "fund_max_dd": -0.43568595855945036,
  "first": "2005-03-11",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "cbhax": {
  "sym": "cbhax",
  "name": "Victory Market Neutral Income Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.045718981254340874,
  "alpha_t_5y": 2.9376692841672387,
  "alpha_t_full": 2.7012545394942338,
  "r2_5y": 0.06743907115396375,
  "r2_full": 0.03677108818850705,
  "corr_portfolio": 0.10906099415010886,
  "corr_benchmark": -0.07857056635130409,
  "alpha_pos_frac": 0.5345911949685535,
  "fund_max_dd": -0.07015276807421733,
  "first": "2012-11-20",
  "verdict": "CANDIDATE - idiosyncratic alpha, complements portfolio"
 },
 "cdazx": {
  "sym": "cdazx",
  "name": "Multi-Manager Directional Alternative Strategies Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.05512684432523355,
  "alpha_t_5y": 2.2291065782162365,
  "alpha_t_full": 0.24661830289541073,
  "r2_5y": 0.6012669420463201,
  "r2_full": 0.7197363703485559,
  "corr_portfolio": 0.4579231297920752,
  "corr_benchmark": 0.4914274850949033,
  "alpha_pos_frac": 0.45871559633027525,
  "fund_max_dd": -0.30928871122470447,
  "first": "2017-01-13",
  "verdict": "weak/unstable alpha"
 },
 "clabx": {
  "sym": "clabx",
  "name": "Columbia Multi Strategy Alternatives Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.020379471998732104,
  "alpha_t_5y": 1.1500006945087957,
  "alpha_t_full": -1.2272095247584698,
  "r2_5y": 0.1173597867273184,
  "r2_full": 0.09449345933312647,
  "corr_portfolio": 0.35584270960870523,
  "corr_benchmark": 0.1343210644348764,
  "alpha_pos_frac": 0.5413533834586466,
  "fund_max_dd": -0.32821470382715756,
  "first": "2015-01-30",
  "verdict": "weak/unstable alpha"
 },
 "cmiex": {
  "sym": "cmiex",
  "name": "Multi-Manager International Equity Strategies Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.002331855387643293,
  "alpha_t_5y": 0.17639529799774897,
  "alpha_t_full": 0.6102573342678537,
  "r2_5y": 0.9638651024018033,
  "r2_full": 0.9670082571200014,
  "corr_portfolio": 0.34449815461155114,
  "corr_benchmark": 0.5772912659976659,
  "alpha_pos_frac": 0.3763440860215054,
  "fund_max_dd": -0.3535156169126247,
  "first": "2018-05-23",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "craax": {
  "sym": "craax",
  "name": "Columbia Adaptive Risk Allocation Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.003469056636668165,
  "alpha_t_5y": 0.22637061663726601,
  "alpha_t_full": 0.16227895712073426,
  "r2_5y": 0.8224101463318675,
  "r2_full": 0.7224477226328625,
  "corr_portfolio": 0.2273261133310748,
  "corr_benchmark": 0.7459126348558662,
  "alpha_pos_frac": 0.5853658536585366,
  "fund_max_dd": -0.18617586300486277,
  "first": "2012-06-20",
  "verdict": "weak/unstable alpha"
 },
 "crihx": {
  "sym": "crihx",
  "name": "CRM LONG/SHORT OPPORTUNITIES FUND",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.007485374462626657,
  "alpha_t_5y": -0.23393840653966574,
  "alpha_t_full": 0.11386798000136084,
  "r2_5y": 0.5970928094523608,
  "r2_full": 0.5767322167951201,
  "corr_portfolio": 0.23881152028192626,
  "corr_benchmark": 0.4717239779508285,
  "alpha_pos_frac": 0.5350877192982456,
  "fund_max_dd": -0.2132648191040607,
  "first": "2016-08-23",
  "verdict": "weak/unstable alpha"
 },
 "ctrzx": {
  "sym": "ctrzx",
  "name": "Multi-Manager Total Return Bond Strategies Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.002841792738683169,
  "alpha_t_5y": 0.5646938678714031,
  "alpha_t_full": 0.08126445518692349,
  "r2_5y": 0.9580842437964088,
  "r2_full": 0.9203142086222048,
  "corr_portfolio": -0.09873744886889077,
  "corr_benchmark": 0.7090443634269116,
  "alpha_pos_frac": 0.6272727272727273,
  "fund_max_dd": -0.19196661534815573,
  "first": "2017-01-04",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "czmsx": {
  "sym": "czmsx",
  "name": "Multi-Manager Small Cap Equity Strategies Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.02151433452245592,
  "alpha_t_5y": -1.4827326889061718,
  "alpha_t_full": -0.7673926997498722,
  "r2_5y": 0.9742635338088821,
  "r2_full": 0.9775861673404711,
  "corr_portfolio": 0.2651823518503439,
  "corr_benchmark": 0.5719735967346525,
  "alpha_pos_frac": 0.5272727272727272,
  "fund_max_dd": -0.4156571769366513,
  "first": "2017-01-04",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "czmvx": {
  "sym": "czmvx",
  "name": "Multi-Manager Value Strategies Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -7.609071065594716e-06,
  "alpha_t_5y": -0.0004964458525896136,
  "alpha_t_full": 0.5857934648428721,
  "r2_5y": 0.9384666021247926,
  "r2_full": 0.9581696404079431,
  "corr_portfolio": 0.388798668971174,
  "corr_benchmark": 0.5577091562530161,
  "alpha_pos_frac": 0.5181818181818182,
  "fund_max_dd": -0.37423219651958606,
  "first": "2017-01-04",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "dbicx": {
  "sym": "dbicx",
  "name": "DWS Global Macro Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.008958521689852273,
  "alpha_t_5y": -0.781548491843171,
  "alpha_t_full": -0.1580111206369707,
  "r2_5y": 0.844675487118287,
  "r2_full": 0.7865956066939078,
  "corr_portfolio": 0.30334616811530735,
  "corr_benchmark": 0.5034606122491824,
  "alpha_pos_frac": 0.6053811659192825,
  "fund_max_dd": -0.6394527499376437,
  "first": "2001-08-28",
  "verdict": "weak/unstable alpha"
 },
 "difax": {
  "sym": "difax",
  "name": "MFS Diversified Income Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.0007242113326169416,
  "alpha_t_5y": 0.1032694900725035,
  "alpha_t_full": -0.00015137256732595007,
  "r2_5y": 0.9369388051120815,
  "r2_full": 0.9453956827386147,
  "corr_portfolio": 0.33920779248964134,
  "corr_benchmark": 0.694429298012178,
  "alpha_pos_frac": 0.5527426160337553,
  "fund_max_dd": -0.35241227466974046,
  "first": "2006-05-30",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "dltrx": {
  "sym": "dltrx",
  "name": "Nomura Limited-Term Diversified Income Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.014804666027616438,
  "alpha_t_5y": -2.410119727303281,
  "alpha_t_full": 2.639559373890048,
  "r2_5y": 0.7141450251814119,
  "r2_full": 0.53699842620344,
  "corr_portfolio": -0.023842928935355934,
  "corr_benchmark": 0.4670207303004375,
  "alpha_pos_frac": 0.5953757225433526,
  "fund_max_dd": -0.0744118782838673,
  "first": "2003-06-02",
  "verdict": "weak/unstable alpha"
 },
 "dmszx": {
  "sym": "dmszx",
  "name": "Destinations Multi Strategy Alternatives Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.033133369430583086,
  "alpha_t_5y": 3.4731356626798315,
  "alpha_t_full": 2.537079157986993,
  "r2_5y": 0.5658661130101695,
  "r2_full": 0.6183622430517614,
  "corr_portfolio": 0.27114533278059666,
  "corr_benchmark": 0.4543087195661785,
  "alpha_pos_frac": 0.46153846153846156,
  "fund_max_dd": -0.2111802646567632,
  "first": "2018-07-19",
  "verdict": "CANDIDATE - idiosyncratic alpha, complements portfolio"
 },
 "dpcfx": {
  "sym": "dpcfx",
  "name": "Nomura Diversified Income Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.009827995765921152,
  "alpha_t_5y": -1.7573068717890346,
  "alpha_t_full": -0.3963947957386501,
  "r2_5y": 0.9482988236237405,
  "r2_full": 0.38187509130722885,
  "corr_portfolio": -0.009656929667627531,
  "corr_benchmark": 0.7216922354923229,
  "alpha_pos_frac": 0.5260115606936416,
  "fund_max_dd": -0.2062761957149597,
  "first": "2002-10-28",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "drrax": {
  "sym": "drrax",
  "name": "BNY Mellon Global Real Return Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": null,
  "alpha_t_5y": NaN,
  "alpha_t_full": 0.2067529835369513,
  "r2_5y": NaN,
  "r2_full": 0.6736425116088385,
  "corr_portfolio": 0.4427608420456678,
  "corr_benchmark": 0.600649061594668,
  "alpha_pos_frac": 0.4603174603174603,
  "fund_max_dd": -0.15954052131449503,
  "first": "2010-05-13",
  "verdict": "no 5y window"
 },
 "dvrax": {
  "sym": "dvrax",
  "name": "MFS Global Alternative Strategy Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.035882882257714986,
  "alpha_t_5y": -2.5193768255416247,
  "alpha_t_full": -0.0674127708966125,
  "r2_5y": 0.6930253728284286,
  "r2_full": 0.5952916098414378,
  "corr_portfolio": 0.28894962782454986,
  "corr_benchmark": 0.5257765107933304,
  "alpha_pos_frac": 0.44495412844036697,
  "fund_max_dd": -0.36758478867230726,
  "first": "2007-12-20",
  "verdict": "weak/unstable alpha"
 },
 "ecgmx": {
  "sym": "ecgmx",
  "name": "Eaton Vance Global Macro Absolute Return Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.04800543517208868,
  "alpha_t_5y": 4.548806986875946,
  "alpha_t_full": 3.8498789524571984,
  "r2_5y": 0.07984819805042198,
  "r2_full": 0.18131703836443613,
  "corr_portfolio": 0.2343247370123227,
  "corr_benchmark": -0.02155412510980591,
  "alpha_pos_frac": 0.4619289340101523,
  "fund_max_dd": -0.09333598943370047,
  "first": "2009-10-02",
  "verdict": "CANDIDATE - idiosyncratic alpha, complements portfolio"
 },
 "egrix": {
  "sym": "egrix",
  "name": "Eaton Vance Global Macro Absolute Return Advantage Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.0792507580920934,
  "alpha_t_5y": 4.921025818208902,
  "alpha_t_full": 4.652680988414438,
  "r2_5y": 0.0671402533785459,
  "r2_full": 0.17053389078371528,
  "corr_portfolio": 0.22290815991893495,
  "corr_benchmark": 0.024683988785995706,
  "alpha_pos_frac": 0.45698924731182794,
  "fund_max_dd": -0.1416510427878418,
  "first": "2010-09-02",
  "verdict": "CANDIDATE - idiosyncratic alpha, complements portfolio"
 },
 "fabzx": {
  "sym": "fabzx",
  "name": "Franklin Alternative Strategies Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.012738708711606987,
  "alpha_t_5y": 1.1947373029346038,
  "alpha_t_full": 1.9134745157272255,
  "r2_5y": 0.6077635800797977,
  "r2_full": 0.6629632968079515,
  "corr_portfolio": 0.2909820766951521,
  "corr_benchmark": 0.4807663872981757,
  "alpha_pos_frac": 0.46938775510204084,
  "fund_max_dd": -0.11030793015233042,
  "first": "2013-11-21",
  "verdict": "weak/unstable alpha"
 },
 "gioax": {
  "sym": "gioax",
  "name": "Guggenheim Macro Opportunities Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.011568520239574102,
  "alpha_t_5y": 1.8383699917598801,
  "alpha_t_full": 3.8799980791127155,
  "r2_5y": 0.7738061385123135,
  "r2_full": 0.4830733305761531,
  "corr_portfolio": 0.16797052815506486,
  "corr_benchmark": 0.4568757652827977,
  "alpha_pos_frac": 0.47368421052631576,
  "fund_max_dd": -0.12467053383664317,
  "first": "2011-12-01",
  "verdict": "CANDIDATE (semi-alpha: mostly explained by net exposure)"
 },
 "gpmfx": {
  "sym": "gpmfx",
  "name": "GuidePath(R) Managed Futures Strategy Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.11800376453789357,
  "alpha_t_5y": 1.8358247548739033,
  "alpha_t_full": -0.28744309359507936,
  "r2_5y": 0.27995149895389726,
  "r2_full": 0.16750941649381756,
  "corr_portfolio": 0.18881712161413045,
  "corr_benchmark": -0.064267212870549,
  "alpha_pos_frac": 0.48760330578512395,
  "fund_max_dd": -0.35986645151233765,
  "first": "2016-01-20",
  "verdict": "weak/unstable alpha"
 },
 "iigix": {
  "sym": "iigix",
  "name": "Voya Multi-Manager International Equity Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.030861993999147203,
  "alpha_t_5y": -2.177612694458389,
  "alpha_t_full": -1.8750744724697312,
  "r2_5y": 0.9562913394853136,
  "r2_full": 0.9433765294584024,
  "corr_portfolio": 0.35607863948851787,
  "corr_benchmark": 0.5396437711368752,
  "alpha_pos_frac": 0.5384615384615384,
  "fund_max_dd": -0.37669522005302647,
  "first": "2011-01-10",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "napix": {
  "sym": "napix",
  "name": "Voya Multi-Manager International Small Cap Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.00010772911027657289,
  "alpha_t_5y": 0.005725340198476609,
  "alpha_t_full": -0.7870548179900667,
  "r2_5y": 0.9278725823430072,
  "r2_full": 0.8810943332512947,
  "corr_portfolio": 0.3828035762522231,
  "corr_benchmark": 0.5469650177880592,
  "alpha_pos_frac": 0.5919282511210763,
  "fund_max_dd": -0.6835497479017605,
  "first": "2005-12-22",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "isfax": {
  "sym": "isfax",
  "name": "Lord Abbett Multi-Asset Income Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.0073214844421354945,
  "alpha_t_5y": -0.7525786987083127,
  "alpha_t_full": -0.6764599676493112,
  "r2_5y": 0.901272562930632,
  "r2_full": 0.865791715298438,
  "corr_portfolio": 0.3141685091103915,
  "corr_benchmark": 0.6673364375704959,
  "alpha_pos_frac": 0.47692307692307695,
  "fund_max_dd": -0.31904288027730954,
  "first": "2005-06-30",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "nlsax": {
  "sym": "nlsax",
  "name": "Neuberger Berman Long Short Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": null,
  "alpha_t_5y": NaN,
  "alpha_t_full": -1.0489649800504441,
  "r2_5y": NaN,
  "r2_full": 0.7597914180929699,
  "corr_portfolio": 0.3938191096744254,
  "corr_benchmark": 0.5145794299058428,
  "alpha_pos_frac": 0.5471698113207547,
  "fund_max_dd": -0.17941457915503312,
  "first": "2011-12-30",
  "verdict": "no 5y window"
 },
 "nmmgx": {
  "sym": "nmmgx",
  "name": "MULTI-MANAGER GLOBAL REAL ESTATE FUND",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.03924589113646899,
  "alpha_t_5y": -1.6674972243241934,
  "alpha_t_full": -1.5105559984393955,
  "r2_5y": 0.8810856670385193,
  "r2_full": 0.8953011928041585,
  "corr_portfolio": 0.28490440299527303,
  "corr_benchmark": 0.6072181334227575,
  "alpha_pos_frac": 0.5776699029126213,
  "fund_max_dd": -0.4028238812682835,
  "first": "2008-12-16",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "orilx": {
  "sym": "orilx",
  "name": "NORTH SQUARE MULTI STRATEGY FUND",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.004094564146332569,
  "alpha_t_5y": 0.37896947051588986,
  "alpha_t_full": -1.112500680629622,
  "r2_5y": 0.9633390192463587,
  "r2_full": 0.9141513074005219,
  "corr_portfolio": 0.3126301165977903,
  "corr_benchmark": 0.5953364968349182,
  "alpha_pos_frac": 0.5433526011560693,
  "fund_max_dd": -0.505846985181069,
  "first": "2000-05-30",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "padcx": {
  "sym": "padcx",
  "name": "PGIM Absolute Return Bond Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.009662575109199524,
  "alpha_t_5y": 1.1017317652378988,
  "alpha_t_full": 2.0011643519435998,
  "r2_5y": 0.2658887884471809,
  "r2_full": 0.403778553758245,
  "corr_portfolio": 0.29093168096348476,
  "corr_benchmark": 0.1517945188590106,
  "alpha_pos_frac": 0.49710982658959535,
  "fund_max_dd": -0.18070752793130407,
  "first": "2011-03-31",
  "verdict": "weak/unstable alpha"
 },
 "paiex": {
  "sym": "paiex",
  "name": "T. Rowe Price Dynamic Global Bond Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.01584136070271343,
  "alpha_t_5y": 0.8810708941705994,
  "alpha_t_full": 2.3197870779795036,
  "r2_5y": 0.20317125310300488,
  "r2_full": 0.17606625688884936,
  "corr_portfolio": 0.11453845034098124,
  "corr_benchmark": -0.33569146349242185,
  "alpha_pos_frac": 0.5263157894736842,
  "fund_max_dd": -0.09938973154057051,
  "first": "2015-01-23",
  "verdict": "weak/unstable alpha"
 },
 "pdinx": {
  "sym": "pdinx",
  "name": "PUTNAM DIVERSIFIED INCOME TRUST",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.007870595552057455,
  "alpha_t_5y": 0.25603001007596793,
  "alpha_t_full": 5.7757613946139115,
  "r2_5y": 0.10939675559633755,
  "r2_full": 8.881784197001252e-16,
  "corr_portfolio": 0.1515436580369243,
  "corr_benchmark": 0.20295102993548317,
  "alpha_pos_frac": 0.6205128205128205,
  "fund_max_dd": -0.4551253654646945,
  "first": "1990-01-03",
  "verdict": "CANDIDATE (semi-alpha: mostly explained by net exposure)"
 },
 "pgbax": {
  "sym": "pgbax",
  "name": "Diversified Income Fund (f/k/a Global Diversified Income Fund)",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.007947133715129676,
  "alpha_t_5y": 0.8551070419390819,
  "alpha_t_full": 2.0440573123169528,
  "r2_5y": 0.6959518160946334,
  "r2_full": 0.6373465751237053,
  "corr_portfolio": 0.3056432590768371,
  "corr_benchmark": 0.5868996479444599,
  "alpha_pos_frac": 0.46116504854368934,
  "fund_max_dd": -0.2372903725951624,
  "first": "2008-12-17",
  "verdict": "weak/unstable alpha"
 },
 "rmyax": {
  "sym": "rmyax",
  "name": "Multi-Strategy Income Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.006094862604192386,
  "alpha_t_5y": -0.48457991057958427,
  "alpha_t_full": -0.5027716674783317,
  "r2_5y": 0.8694775275329713,
  "r2_full": 0.8302135520066936,
  "corr_portfolio": 0.2998455767741149,
  "corr_benchmark": 0.6806849145630515,
  "alpha_pos_frac": 0.5615384615384615,
  "fund_max_dd": -0.22042694713026867,
  "first": "2015-05-04",
  "verdict": "sleeve mix (R\u00b2 high) - not alpha-driven"
 },
 "rrpax": {
  "sym": "rrpax",
  "name": "SIIT Real Return Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.02091888763838627,
  "alpha_t_5y": 2.584930522788122,
  "alpha_t_full": 0.4909488346026396,
  "r2_5y": 0.61894306092845,
  "r2_full": 0.41403797029199063,
  "corr_portfolio": 0.00768717905343307,
  "corr_benchmark": 0.4478738908791492,
  "alpha_pos_frac": 0.517948717948718,
  "fund_max_dd": -0.1297444134289042,
  "first": "2007-09-05",
  "verdict": "weak/unstable alpha"
 },
 "rymfx": {
  "sym": "rymfx",
  "name": "Guggenheim Managed Futures Strategy Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": -0.02014247769464265,
  "alpha_t_5y": -0.5003121906583069,
  "alpha_t_full": 0.10839288377627028,
  "r2_5y": 0.35143615168816555,
  "r2_full": 0.07807781174439732,
  "corr_portfolio": 0.23525317740277807,
  "corr_benchmark": 0.07780897382137142,
  "alpha_pos_frac": 0.47085201793721976,
  "fund_max_dd": -0.36522050666552897,
  "first": "2007-02-23",
  "verdict": "weak/unstable alpha"
 },
 "seiax": {
  "sym": "seiax",
  "name": "SIIT Multi-Asset Real Return Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.035435990088980525,
  "alpha_t_5y": 3.1751919551670036,
  "alpha_t_full": 2.1185230216684676,
  "r2_5y": 0.7773777017443931,
  "r2_full": 0.7252216131385265,
  "corr_portfolio": 0.3128935530074972,
  "corr_benchmark": 0.2406739900426457,
  "alpha_pos_frac": 0.5144508670520231,
  "fund_max_dd": -0.21536400628633312,
  "first": "2011-08-10",
  "verdict": "weak/unstable alpha"
 },
 "sliyx": {
  "sym": "sliyx",
  "name": "SIMT MULTI-ASSET INCOME FUND",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.015465333823961345,
  "alpha_t_5y": 1.9739121355197624,
  "alpha_t_full": 1.6812343716635079,
  "r2_5y": 0.8231097368330949,
  "r2_full": 0.7872854440391012,
  "corr_portfolio": 0.2924883461170799,
  "corr_benchmark": 0.6656446172919034,
  "alpha_pos_frac": 0.5597014925373134,
  "fund_max_dd": -0.22093172752186285,
  "first": "2015-01-02",
  "verdict": "weak/unstable alpha"
 },
 "smuyx": {
  "sym": "smuyx",
  "name": "SIMT Multi-Strategy Alternative Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.01998789450507779,
  "alpha_t_5y": 1.777909283290362,
  "alpha_t_full": 1.8693972743108902,
  "r2_5y": 0.6752006687187604,
  "r2_full": 0.5298642820854836,
  "corr_portfolio": 0.2651429895547443,
  "corr_benchmark": 0.4228461393590128,
  "alpha_pos_frac": 0.43846153846153846,
  "fund_max_dd": -0.10995859828985377,
  "first": "2015-05-01",
  "verdict": "weak/unstable alpha"
 },
 "sryrx": {
  "sym": "sryrx",
  "name": "SIMT Real Return Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.017901995011180328,
  "alpha_t_5y": 2.262183111453143,
  "alpha_t_full": 2.911802667812134,
  "r2_5y": 0.6291427249170225,
  "r2_full": 0.568808359358441,
  "corr_portfolio": 0.018063742050577297,
  "corr_benchmark": 0.46374202412222304,
  "alpha_pos_frac": 0.4626865671641791,
  "fund_max_dd": -0.06547787926424076,
  "first": "2015-01-02",
  "verdict": "weak/unstable alpha"
 },
 "vmnix": {
  "sym": "vmnix",
  "name": "Vanguard Market Neutral Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.12912065637455916,
  "alpha_t_5y": 4.361786874321171,
  "alpha_t_full": 2.5879167048776455,
  "r2_5y": 0.029380364668611603,
  "r2_full": -1.1102230246251565e-15,
  "corr_portfolio": 0.3467529140312448,
  "corr_benchmark": -0.018030253731384765,
  "alpha_pos_frac": 0.5055762081784386,
  "fund_max_dd": -0.25345525956682635,
  "first": "1998-10-27",
  "verdict": "alpha, but correlated with current portfolio"
 },
 "wmnux": {
  "sym": "wmnux",
  "name": "Westwood Alternative Income Fund",
  "bucket": "external",
  "in_portfolio": false,
  "alpha_ann_5y": 0.03973682932057431,
  "alpha_t_5y": 6.860324585370505,
  "alpha_t_full": 5.647006753747289,
  "r2_5y": 0.3807595020726805,
  "r2_full": 0.1737006681781419,
  "corr_portfolio": 0.09371513014491326,
  "corr_benchmark": 0.17652624930520902,
  "alpha_pos_frac": 0.5076923076923077,
  "fund_max_dd": -0.07640266654441785,
  "first": "2015-05-04",
  "verdict": "CANDIDATE - idiosyncratic alpha, complements portfolio"
 }
}