Time in market
The share of days a strategy held any position.
How to read it
A strategy that is invested half the time and earns the same as buy-and-hold took half the market exposure to do it.
How to use it
Compares a strategy's result with how much market exposure it took to get it.
In Kereon
Strategies. Days with any exposure ÷ every day of the test. Average exposure is the mean share of equity invested.
Also called: time in market, average exposure.