QSX Digital Assets Macro Regime IndexQSX 数字资产宏观状态指数 (V1.2)
A hypothetical BTC/ETH algorithmic index study focused on liquidity regime classification, volatility-aware exposure control, and delayed software-audit reporting. This page intentionally excludes current model state, execution weights, account examples, and live allocation instructions.这是一个 BTC/ETH 假设性算法指数研究页面，重点展示流动性状态识别、波动率防御和延迟审计报告。 前台不展示当前模型状态、执行权重、账户示例或实时分配指令。
Notice: The QSX Portfolios displayed below represent purely hypothetical, simulated algorithmic index research. No real capital is deployed. All metrics are backward-looking and for academic/software audit purposes only.
注意：下方展示的 QSX 组合仅代表假设性的模拟算法指数研究。没有部署任何实际资金。所有指标均为后视性， 仅用于学术研究、软件审计与模型治理展示，不构成投资建议、个性化账户管理或买卖推荐。
Backward-Looking Risk-Adjusted Results后视风险调整指标
2019-11-27 to 2026-05-14 · 2361 daily observations · QSX simulated index vs BTC/ETH buy-and-hold baselines.2019-11-27 to 2026-05-14 · 2361 daily observations · QSX simulated index vs BTC/ETH buy-and-hold baselines.
| Metric指标 | QSX Simulated Index | BTC Buy & Hold | ETH Buy & Hold |
|---|---|---|---|
| Sharpe Ratio夏普比率 | 1.48 | 0.91 | 0.93 |
| Sortino Ratio索提诺比率 | 1.57 | 0.93 | 0.95 |
| Calmar卡玛比率 | 2.16 | 0.58 | 0.66 |
| Max Drawdown最大回撤 | -27.12% | -76.67% | -79.35% |
Public display is limited to comparative risk-adjusted research metrics. Return multiples, current exposure state, and instrument-level allocation output are not displayed on public pages.前台仅展示风险调整后的对照研究指标；不展示收益倍数、当前敞口状态或单资产分配输出。
Macro Regime Research Structure宏观状态研究结构
The model is described at a high level only. Proprietary parameter values, trigger thresholds, and daily state transitions are excluded from the public whitepaper.本页只展示高层研究框架，不公开参数数值、触发阈值或日度状态迁移。
The framework organizes market liquidity, trend persistence, and cross-asset stress proxies into a multi-dimensional state map rather than a single price signal.
模型不依赖单一价格信号，而是把流动性、趋势持续性与跨资产压力代理组织为多维状态。
The exposure engine studies realized volatility and drawdown acceleration as dampening variables, designed to reduce participation during unstable regimes.
暴露控制层把已实现波动与回撤加速度作为抑制变量，用于研究不稳定阶段的风险收缩。
The simulation applies modeled withdrawal, slippage, and network-latency friction assumptions before presenting risk-adjusted metrics.
所有公开指标均先计入充提、滑点与网络延迟等摩擦假设。
Hypothetical Simulated Net Asset Value假设性模拟净值
QSX is plotted against BTC and ETH buy-and-hold baselines over the same historical window. The chart is an academic backtest visualization only, not a live product track record.下图用同一历史窗口对照 QSX 模拟指数与 BTC/ETH 纯持有基准。
Out-of-Sample and Execution Caveats样本外与执行说明
The public page states research controls without exposing the internal controller formulas.本页说明研究控制流程，但不公开内部控制器公式。
The study separates calibration and later validation windows, with hold-out degradation monitored as a veto condition.
研究流程区分校准期与后续验证期，并把 hold-out 衰减作为治理红线。
Drawdown, volatility expansion, and liquidity shock modules are evaluated as risk controls. They are not presented as trading instructions.
回撤、波动扩张和流动性冲击模块仅作为风险控制研究展示，不作为交易指令。
This model has been evaluated after modeled transaction, slippage, withdrawal, and latency frictions. Out-of-sample testing is framed as robustness evidence, not as a promise of future performance.样本外测试只作为鲁棒性证据，不代表未来收益承诺。
QuantScopeX is a research publisher and software research service. We do not manage client funds, execute trades, provide personalized investment advice, or recommend any security, commodity, token, derivative, or financial instrument.
Hypothetical backtested performance has inherent limitations and is prepared with the benefit of hindsight. Past performance does not guarantee future results. No representation is made that any account will achieve profits or losses similar to those shown.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
译文（仅供参考，以上述英文版本为准）：假设性（模拟）业绩结果存在诸多固有局限，部分如下所述。我们不就任何账户将会或可能取得与所示结果相似的盈利或亏损作出任何陈述；事实上，假设性业绩结果与任何特定交易方案此后实际取得的结果之间，往往存在显著差异。假设性业绩结果的局限之一，是其通常带有事后之明（后视偏差）。此外，假设性交易不涉及真实资金风险，任何假设性交易记录都无法完整反映实际交易中资金风险的影响。例如，承受亏损的能力、或在出现交易亏损时仍坚持既定交易方案的能力，均为可能对实际交易结果产生重大不利影响的因素。此外尚有大量与市场整体或特定交易方案实施相关的其他因素，无法在编制假设性业绩结果时被充分计入，而这些因素都可能对实际交易结果产生不利影响。