> On the other hand, the sandard deviations of the returns and the number of
> trades is irrelevant for APD. These are, among the returns, the
> cornerstones of PI.
> The best thing would be to have a combination of these two measurements.
> What do you think?
>

I agree. The most relevant metrics to me are PI, Kelly, APD, and average
duration. In the next release, all four of these will be reflected in CPI
(cumulative performance index).



>  Anyway please take a close look at my code.
>

In about a week, I am planning to release another JBT version. That will
have my implementation of the MaxDD and APD. I suggest we take it as base
and see if it agrees with your MaxDD calculations.

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