{
  "snapshot": "merton-v22-research-20261006",
  "seed": 20261006,
  "draws": 8192,
  "utilityDefinition": "cash-relative diffusion utility; annual units, NOT realized returns",
  "comparison": [
    {
      "method": "Central",
      "weights": [
        5.479932503536998e-17,
        0.3535577919619229,
        1.6927898440992495e-17,
        0.1925328772224302,
        0.17192015951540549,
        0.2819891713002413,
        0.0
      ],
      "centralCagr": 0.14181735996687583,
      "volatility": 0.18517403308761268,
      "centralUtility": 0.06082774593725783,
      "meanUtility": 0.05842198732166869,
      "p10Utility": 0.016657851306324783,
      "p5Utility": 0.0044727994763653104,
      "worstSampleUtility": -0.038483382979280445,
      "utilitySD": 0.03064483272066595,
      "distanceFromCentral": 0.0
    },
    {
      "method": "Box benchmark",
      "weights": [
        0.0,
        0.5287957779840194,
        1.988958324619761e-18,
        3.6976657389442213e-17,
        0.17199257701338141,
        0.20184187409389456,
        0.09736977090870458
      ],
      "centralCagr": 0.11441990394757298,
      "volatility": 0.13063799506307133,
      "centralUtility": 0.05376371825504723,
      "meanUtility": 0.05301024509204756,
      "p10Utility": 0.023096423441848542,
      "p5Utility": 0.01458990959315904,
      "worstSampleUtility": -0.01605374589687187,
      "utilitySD": 0.021931554821423685,
      "distanceFromCentral": 0.272680174428777
    },
    {
      "method": "Expected utility",
      "weights": [
        0.0,
        0.4079691503707622,
        2.8127872915140087e-17,
        0.12311231384313337,
        0.1873772033914586,
        0.28154133239464585,
        0.0
      ],
      "centralCagr": 0.14003455490872094,
      "volatility": 0.1815941874841924,
      "centralUtility": 0.06057812434242063,
      "meanUtility": 0.058671608992743776,
      "p10Utility": 0.01741314035838525,
      "p5Utility": 0.005195090072461274,
      "worstSampleUtility": -0.036123680963096025,
      "utilitySD": 0.03022803915055712,
      "distanceFromCentral": 0.06986840228489241
    },
    {
      "method": "Mean utility minus 0.5 SD",
      "weights": [
        0.0,
        0.4456306854160725,
        0.0,
        0.11714393345678552,
        0.20042077456976348,
        0.23680460655737845,
        1.1102230246251565e-16
      ],
      "centralCagr": 0.12910615282572174,
      "volatility": 0.1568810959010968,
      "centralUtility": 0.059310626257042975,
      "meanUtility": 0.05757711204121074,
      "p10Utility": 0.022398067523945773,
      "p5Utility": 0.01207210019766668,
      "worstSampleUtility": -0.024901461117048256,
      "utilitySD": 0.02581039436525039,
      "distanceFromCentral": 0.12057350850850766
    },
    {
      "method": "Mean utility minus 1 SD",
      "weights": [
        0.0,
        0.48632883001407695,
        2.8097889786975534e-17,
        0.10798731583441647,
        0.21115726382585678,
        0.19452659032564973,
        0.0
      ],
      "centralCagr": 0.11799462018921558,
      "volatility": 0.13407639367012822,
      "centralUtility": 0.05605608338640764,
      "meanUtility": 0.05451249861893114,
      "p10Utility": 0.02511845737375555,
      "p5Utility": 0.01665698959761328,
      "worstSampleUtility": -0.016387770538699817,
      "utilitySD": 0.021702489303954572,
      "distanceFromCentral": 0.17200814236260537
    },
    {
      "method": "Mean utility minus 2 SD",
      "weights": [
        0.03387134509768013,
        0.5031702023117982,
        0.0550814769109561,
        0.0825937296946854,
        0.20444236976311747,
        0.12084087622176261,
        1.1102230246251565e-16
      ],
      "centralCagr": 0.09640001417798665,
      "volatility": 0.0960253080857355,
      "centralUtility": 0.045307238584932887,
      "meanUtility": 0.044168541815117146,
      "p10Utility": 0.02457291126309578,
      "p5Utility": 0.019222341248173187,
      "worstSampleUtility": -0.007422131214472988,
      "utilitySD": 0.014731058394930737,
      "distanceFromCentral": 0.2710874426062235
    }
  ],
  "splitHalfStability": {
    "box": {
      "maxWeightDifference": 0.005097522478109351,
      "halfWeights": [
        [
          2.318892219280169e-17,
          0.526221046439909,
          1.2844451633655892e-16,
          7.619407238656288e-17,
          0.17148464779157488,
          0.20359755335147303,
          0.0986967524170429
        ],
        [
          1.1528095268280476e-17,
          0.5313185689180183,
          1.9905743661948873e-16,
          0.0,
          0.17249007423193993,
          0.20011032794078898,
          0.09608102890925252
        ]
      ]
    },
    "0": {
      "maxWeightDifference": 0.0074209773210269225,
      "halfWeights": [
        [
          4.6984484221689235e-17,
          0.40425866570339125,
          1.6071356048453055e-16,
          0.12664738027230207,
          0.18833694439212187,
          0.28075700963218453,
          0.0
        ],
        [
          0.0,
          0.4116796430244182,
          0.0,
          0.11957725070766512,
          0.18641746154337632,
          0.28232564472454047,
          0.0
        ]
      ]
    },
    "0.5": {
      "maxWeightDifference": 0.0045908691796970325,
      "halfWeights": [
        [
          2.277735525458974e-17,
          0.44336331877261204,
          0.0,
          0.11822391900999517,
          0.2013705194867937,
          0.23704224273059907,
          1.1102230246251565e-16
        ],
        [
          2.4857298000705795e-17,
          0.44795418795230907,
          0.0,
          0.1159962776897616,
          0.19946837804460357,
          0.2365811563133258,
          0.0
        ]
      ]
    },
    "1": {
      "maxWeightDifference": 0.0032359022670369053,
      "halfWeights": [
        [
          0.0,
          0.48474435417540784,
          0.0,
          0.10767376761153559,
          0.21192361972915613,
          0.1956582584839005,
          0.0
        ],
        [
          8.22791619502057e-18,
          0.48798025644244475,
          0.0,
          0.10822189004473191,
          0.2103782410239671,
          0.1934196124888563,
          0.0
        ]
      ]
    },
    "2": {
      "maxWeightDifference": 0.007016461932655871,
      "halfWeights": [
        [
          0.031365110961439235,
          0.4998867339511093,
          0.05879306174718879,
          0.08176266077877496,
          0.20510347692489705,
          0.12308895563659053,
          2.220446049250313e-16
        ],
        [
          0.03630756055365272,
          0.5062355917371811,
          0.05177659981453292,
          0.08331355021698943,
          0.20370885733868918,
          0.11865784033895464,
          1.1102230246251565e-16
        ]
      ]
    }
  },
  "correlatedStress": {
    "description": "Uncalibrated inflation and growth Gaussian-copula stress; retained independent production marginals",
    "correlation": [
      [
        1.0,
        0.0,
        0.0,
        0.0,
        0.2,
        0.25,
        0.0
      ],
      [
        0.0,
        1.0,
        -0.25,
        -0.2,
        -0.25,
        0.0,
        -0.25
      ],
      [
        0.0,
        -0.25,
        1.0,
        0.2,
        0.25,
        0.0,
        0.25
      ],
      [
        0.0,
        -0.2,
        0.2,
        1.0,
        0.2,
        0.0,
        0.2
      ],
      [
        0.2,
        -0.25,
        0.25,
        0.2,
        1.0,
        0.2,
        0.25
      ],
      [
        0.25,
        0.0,
        0.0,
        0.0,
        0.2,
        1.0,
        0.0
      ],
      [
        0.0,
        -0.25,
        0.25,
        0.2,
        0.25,
        0.0,
        1.0
      ]
    ],
    "weights": [
      0.0,
      0.48395505095577634,
      1.0870824635371043e-17,
      0.13141417945066705,
      0.19450087613253175,
      0.190129893461025,
      0.0
    ]
  },
  "goldRangeSensitivity": [
    {
      "range": [
        -0.03,
        0.07,
        0.15
      ],
      "box": [
        1.6582189538610765e-17,
        0.5287957779840194,
        1.3647336949145353e-16,
        7.028222840918462e-17,
        0.17199257701338136,
        0.20184187409389454,
        0.09736977090870447
      ],
      "expectedUtility": [
        0.0,
        0.4079691503707622,
        2.8127872915140087e-17,
        0.12311231384313337,
        0.1873772033914586,
        0.28154133239464585,
        0.0
      ],
      "robust": [
        0.0,
        0.4863288300140772,
        0.0,
        0.10798731583441645,
        0.21115726382585678,
        0.19452659032564973,
        0.0
      ]
    },
    {
      "range": [
        0.03,
        0.07,
        0.1
      ],
      "box": [
        0.0,
        0.40532932018955037,
        0.0,
        0.18282690585809405,
        0.12366986715262039,
        0.19608922837447026,
        0.09208467842526491
      ],
      "expectedUtility": [
        6.528999723337977e-17,
        0.3811899689117885,
        2.0055414369981655e-17,
        0.1614082370834294,
        0.17707421383288863,
        0.28032758017189346,
        0.0
      ],
      "robust": [
        0.0,
        0.4309777073191346,
        3.597893297500889e-18,
        0.1868446685935992,
        0.19111518492681898,
        0.19106243916044727,
        0.0
      ]
    },
    {
      "range": [
        -0.1,
        0.07,
        0.25
      ],
      "box": [
        4.9334794059458366e-17,
        0.5287959485534967,
        2.7204530708200486e-17,
        6.3151769983400385e-18,
        0.17199241385906305,
        0.2018418687715837,
        0.09736976881585657
      ],
      "expectedUtility": [
        0.0,
        0.3572679738533233,
        8.514147028572219e-17,
        0.19561843956977099,
        0.16787029566395026,
        0.27924329091295524,
        0.0
      ],
      "robust": [
        0.0,
        0.5039682556979764,
        0.0,
        0.08169942857940019,
        0.2176151570179471,
        0.1967171587046764,
        0.0
      ]
    }
  ],
  "gamma": [
    {
      "gamma": 1,
      "central": [
        0.0,
        0.0,
        6.8398198163247906e-18,
        0.19185815173684967,
        2.366671545249025e-17,
        0.8081418482631503,
        0.0
      ],
      "robust": [
        0.0,
        0.0,
        0.0,
        0.2247653022670982,
        0.2324599010573655,
        0.5427747966755364,
        0.0
      ]
    },
    {
      "gamma": 2,
      "central": [
        0.0,
        0.11720070308204755,
        2.3048578470282805e-16,
        0.28720413087524777,
        0.17651851899384347,
        0.41907664704886105,
        0.0
      ],
      "robust": [
        0.0,
        0.32355345692432835,
        0.0,
        0.15405375786826261,
        0.23919827411491654,
        0.28319451109249255,
        0.0
      ]
    },
    {
      "gamma": 3,
      "central": [
        5.479932503536998e-17,
        0.3535577919619229,
        1.6927898440992495e-17,
        0.1925328772224302,
        0.17192015951540549,
        0.2819891713002413,
        0.0
      ],
      "robust": [
        0.0,
        0.48632883001407695,
        2.8097889786975534e-17,
        0.10798731583441647,
        0.21115726382585678,
        0.19452659032564973,
        0.0
      ]
    },
    {
      "gamma": 4,
      "central": [
        1.7319835355260537e-17,
        0.47173625862034313,
        0.0,
        0.14519730708319412,
        0.16962098058312866,
        0.21344545371333418,
        0.0
      ],
      "robust": [
        2.042280127562299e-17,
        0.48980986206908084,
        0.09522231358164474,
        0.0832840666203587,
        0.18234438518021168,
        0.14933937254870405,
        0.0
      ]
    },
    {
      "gamma": 6,
      "central": [
        0.0,
        0.3532181310051515,
        0.28818574086926246,
        0.09512212721829788,
        0.12096398264087381,
        0.14251001826641418,
        2.220446049250313e-16
      ],
      "robust": [
        1.9454644805607526e-18,
        0.35394806587593985,
        0.28882615993536837,
        0.055829100417300555,
        0.12691174863046714,
        0.1020107748286383,
        0.07247415031228566
      ]
    },
    {
      "gamma": 10,
      "central": [
        0.0,
        0.20929858664795215,
        0.5142355924047715,
        0.0549008852524326,
        0.07236373743213026,
        0.08529973282536357,
        0.06390146543734998
      ],
      "robust": [
        0.0,
        0.21236903025760798,
        0.1732953227664314,
        0.03349748576691316,
        0.0761470679771548,
        0.06120646323237654,
        0.4434846299995162
      ]
    }
  ],
  "sensitivity": {
    "commodity": [
      {
        "premium": 0,
        "arithmeticExcessBeforeFees": 0.016200000000000003,
        "weights": [
          0,
          0.46974890636324323,
          0,
          0.24360837563435417,
          0,
          0.28664271800240254,
          0
        ],
        "expectedCagr": 0.14105169750215715,
        "nominalPortfolioDrift": 0.14958853165271133,
        "annualVolatility": 0.18781987572019365,
        "objective": 0.059170073079387854,
        "kktResidual": 2.168404344971009e-17,
        "assetExpectedCagr": 0.036452681855796136,
        "arithmeticDrift": 0.052003999999999995
      },
      {
        "premium": 0.01,
        "arithmeticExcessBeforeFees": 0.0262,
        "weights": [
          0,
          0.4138097087819347,
          0,
          0.21901852779172382,
          0.08276945299463569,
          0.28440231043170566,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.14063323736878167,
        "nominalPortfolioDrift": 0.14884622041971587,
        "annualVolatility": 0.18580979981855753,
        "objective": 0.059554297856797264,
        "kktResidual": 6.765421556309548e-17,
        "assetExpectedCagr": 0.046869204483280975,
        "arithmeticDrift": 0.062004000000000004
      },
      {
        "premium": 0.02,
        "arithmeticExcessBeforeFees": 0.0362,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.057390414903608036,
        "arithmeticDrift": 0.072004
      },
      {
        "premium": 0.03,
        "arithmeticExcessBeforeFees": 0.046200000000000005,
        "weights": [
          0,
          0.2933058512227914,
          0,
          0.16604723664078588,
          0.26107087320032185,
          0.2795760389361007,
          1.1102230246251565e-16
        ],
        "expectedCagr": 0.14470230121069172,
        "nominalPortfolioDrift": 0.15246855582761282,
        "annualVolatility": 0.186139472276151,
        "objective": 0.06299270111874686,
        "kktResidual": 3.8163916471489756e-17,
        "assetExpectedCagr": 0.06801736524658708,
        "arithmeticDrift": 0.082004
      }
    ],
    "commodityArithmetic": [
      {
        "premium": 0,
        "weights": [
          0,
          0.46974890636324323,
          0,
          0.24360837563435417,
          0,
          0.28664271800240254,
          0
        ],
        "expectedCagr": 0.14105169750215715,
        "nominalPortfolioDrift": 0.14958853165271133,
        "annualVolatility": 0.18781987572019365,
        "objective": 0.059170073079387854,
        "kktResidual": 2.168404344971009e-17,
        "assetExpectedCagr": 0.019797420277493986,
        "arithmeticDrift": 0.035803999999999996
      },
      {
        "premium": 0.01,
        "weights": [
          0,
          0.46974890636324323,
          0,
          0.24360837563435417,
          0,
          0.28664271800240254,
          0
        ],
        "expectedCagr": 0.14105169750215715,
        "nominalPortfolioDrift": 0.14958853165271133,
        "annualVolatility": 0.18781987572019365,
        "objective": 0.059170073079387854,
        "kktResidual": 2.168404344971009e-17,
        "assetExpectedCagr": 0.030046554743286356,
        "arithmeticDrift": 0.045804
      },
      {
        "premium": 0.02,
        "weights": [
          0,
          0.45116590462526923,
          0,
          0.2354396280485146,
          0.02749601273087289,
          0.28589845459534324,
          0
        ],
        "expectedCagr": 0.14075059835900178,
        "nominalPortfolioDrift": 0.14917146057817843,
        "annualVolatility": 0.18700264822568735,
        "objective": 0.05921247491304819,
        "kktResidual": 1.8214596497756474e-17,
        "assetExpectedCagr": 0.040398694722928036,
        "arithmeticDrift": 0.05580399999999999
      },
      {
        "premium": 0.03,
        "weights": [
          0,
          0.39091397584569776,
          0,
          0.20895398247304564,
          0.116646722833716,
          0.28348531884754075,
          0
        ],
        "expectedCagr": 0.14088335039047692,
        "nominalPortfolioDrift": 0.14898565237582323,
        "annualVolatility": 0.18537972522177656,
        "objective": 0.05993318859087114,
        "kktResidual": 7.979727989493313e-17,
        "assetExpectedCagr": 0.05085487543904381,
        "arithmeticDrift": 0.06580399999999999
      }
    ],
    "equity": [
      {
        "growth": 0.04,
        "terminalPE": 16,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.02359879044804651,
        "arithmeticDrift": 0.039524643638131185
      },
      {
        "growth": 0.04,
        "terminalPE": 18,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.03572632844081561,
        "arithmeticDrift": 0.05130294720376954
      },
      {
        "growth": 0.04,
        "terminalPE": 20,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.04669648402635912,
        "arithmeticDrift": 0.06183899876955217
      },
      {
        "growth": 0.05,
        "terminalPE": 16,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.03344108651004697,
        "arithmeticDrift": 0.049094094654281904
      },
      {
        "growth": 0.05,
        "terminalPE": 18,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.04568523544505422,
        "arithmeticDrift": 0.06087239821992025
      },
      {
        "growth": 0.05,
        "terminalPE": 20,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.05676087329584334,
        "arithmeticDrift": 0.07140844978570288
      },
      {
        "growth": 0.06,
        "terminalPE": 16,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.043283382572047405,
        "arithmeticDrift": 0.058572838608825666
      },
      {
        "growth": 0.06,
        "terminalPE": 18,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.05564414244929283,
        "arithmeticDrift": 0.07035114217446402
      },
      {
        "growth": 0.06,
        "terminalPE": 20,
        "weights": [
          0.05948648102675691,
          0.3175029604130414,
          0,
          0.18883703028638232,
          0.1568943495868092,
          0.27727917868701013,
          0
        ],
        "expectedCagr": 0.14174002940299488,
        "nominalPortfolioDrift": 0.14957999149004714,
        "annualVolatility": 0.1845348269428846,
        "objective": 0.06099633795778662,
        "kktResidual": 1.2663481374630692e-16,
        "assetExpectedCagr": 0.06682526256532756,
        "arithmeticDrift": 0.08088719374024664
      },
      {
        "growth": 0.07,
        "terminalPE": 16,
        "weights": [
          0,
          0.35355778000236304,
          0,
          0.1925328822162548,
          0.17192016309747876,
          0.2819891746839032,
          2.220446049250313e-16
        ],
        "expectedCagr": 0.1418173609492039,
        "nominalPortfolioDrift": 0.1497658810226359,
        "annualVolatility": 0.185174035410616,
        "objective": 0.06082774593725784,
        "kktResidual": 5.204170427930421e-17,
        "assetExpectedCagr": 0.05312567863404786,
        "arithmeticDrift": 0.0679625789586647
      },
      {
        "growth": 0.07,
        "terminalPE": 18,
        "weights": [
          0.04745630207197442,
          0.324794464707048,
          0,
          0.18958445658121964,
          0.15993307741798204,
          0.2782316992217759,
          0
        ],
        "expectedCagr": 0.14170390991193393,
        "nominalPortfolioDrift": 0.1495631849510457,
        "annualVolatility": 0.18461517064626484,
        "objective": 0.06093504310192145,
        "kktResidual": 2.7755575615628914e-17,
        "assetExpectedCagr": 0.06560304945353143,
        "arithmeticDrift": 0.07974088252430303
      },
      {
        "growth": 0.07,
        "terminalPE": 20,
        "weights": [
          0.1580288796148397,
          0.25777630753884895,
          0,
          0.18271466251962487,
          0.13200332092749748,
          0.26947682939918904,
          0
        ],
        "expectedCagr": 0.14302446127543186,
        "nominalPortfolioDrift": 0.15075590611831813,
        "annualVolatility": 0.18481407194126825,
        "objective": 0.062017544337049715,
        "kktResidual": 3.2959746043559335e-17,
        "assetExpectedCagr": 0.07688965183481178,
        "arithmeticDrift": 0.09027693409008566
      }
    ]
  },
  "historicalRealizedCagrQuantiles": {
    "BTC": {
      "1": [
        -0.4161347668392532,
        0.7831791351387238,
        4.111763704398445
      ],
      "3": [
        0.199927847339353,
        0.549540648543155,
        1.439755981653228
      ],
      "5": [
        0.1312904712215802,
        0.5945453707605355,
        1.3699191860390798
      ]
    },
    "Gold": {
      "1": [
        -0.13657548666357985,
        0.05198611184222971,
        0.35165396442850777
      ],
      "3": [
        -0.082379446202196,
        0.03956717218107294,
        0.24392195328431637
      ],
      "5": [
        -0.058706807961099707,
        0.03580770877410423,
        0.19973344905131013
      ],
      "10": [
        -0.03127194189091308,
        0.03448825700652591,
        0.14169121320927244
      ]
    }
  },
  "oracle": [
    {
      "mu": [
        0.06087239821992025,
        0.05238236874820901,
        0.04642573048082465,
        0.08671760704135617,
        0.072004,
        0.3623215567939546
      ],
      "cash": 0.037503999999999996,
      "covariance": [
        [
          0.0324,
          -0.0003115541274482955,
          0.000607530929975604,
          0.004039202521725882,
          0.005107434399267944,
          0.02799698811549794
        ],
        [
          -0.0003115541274482955,
          0.004900000000000001,
          0.0009380994945016773,
          0.0027804449396318,
          -0.001956442982131266,
          -0.00036581394129557717
        ],
        [
          0.000607530929975604,
          0.0009380994945016773,
          0.0008999999999999998,
          0.001160669168867638,
          0.0009413020454208813,
          0.0011861720029373876
        ],
        [
          0.004039202521725882,
          0.0027804449396318,
          0.001160669168867638,
          0.038117917135082724,
          0.007471306932652448,
          0.013003560758966718
        ],
        [
          0.005107434399267944,
          -0.001956442982131266,
          0.0009413020454208813,
          0.007471306932652448,
          0.032400000000000005,
          0.007276259737438916
        ],
        [
          0.02799698811549794,
          -0.00036581394129557717,
          0.0011861720029373876,
          0.013003560758966718,
          0.007276259737438916,
          0.36
        ]
      ],
      "gamma": 3,
      "caps": [
        1,
        1,
        1,
        1,
        1,
        1
      ],
      "budget": 1,
      "offsets": [
        -9.188327098836463e-05,
        -5.611894428191912e-05,
        -0.00017810740633168037,
        -0.007342332911762686,
        -0.0005693695548775052,
        -0.0031007954518437186
      ],
      "parameterCovariance": [
        [
          0.0001712112216298226,
          3.525755248909692e-05,
          3.397010202157553e-05,
          3.065518320041003e-05,
          3.687159674049293e-05,
          2.309650974119422e-05
        ],
        [
          3.525755248909692e-05,
          6.948994864651446e-05,
          3.488354990746889e-05,
          2.979096317035359e-05,
          3.3353535122237006e-05,
          3.9056218455960115e-05
        ],
        [
          3.397010202157553e-05,
          3.488354990746889e-05,
          6.827018841920299e-05,
          2.9022149571662138e-05,
          3.4125153755170674e-05,
          3.8069996985639876e-05
        ],
        [
          3.065518320041003e-05,
          2.979096317035359e-05,
          2.9022149571662138e-05,
          0.001220017351208856,
          3.566579455782538e-05,
          2.3869040932044658e-05
        ],
        [
          3.687159674049293e-05,
          3.3353535122237006e-05,
          3.4125153755170674e-05,
          3.566579455782538e-05,
          0.0002715917029790953,
          2.0217219445624015e-05
        ],
        [
          2.309650974119422e-05,
          3.9056218455960115e-05,
          3.8069996985639876e-05,
          2.3869040932044658e-05,
          2.0217219445624015e-05,
          0.01074419618197145
        ]
      ],
      "weights": [
        0.0,
        0.48632883001407695,
        2.8097889786975534e-17,
        0.10798731583441647,
        0.21115726382585678,
        0.19452659032564973,
        0.0
      ],
      "objective": 0.032810009314976726
    },
    {
      "mu": [
        0.06087239821992025,
        0.05238236874820901,
        0.04642573048082465,
        0.08671760704135617,
        0.072004,
        0.3623215567939546
      ],
      "cash": 0.037503999999999996,
      "covariance": [
        [
          0.0324,
          -0.0003115541274482955,
          0.000607530929975604,
          0.004039202521725882,
          0.005107434399267944,
          0.02799698811549794
        ],
        [
          -0.0003115541274482955,
          0.004900000000000001,
          0.0009380994945016773,
          0.0027804449396318,
          -0.001956442982131266,
          -0.00036581394129557717
        ],
        [
          0.000607530929975604,
          0.0009380994945016773,
          0.0008999999999999998,
          0.001160669168867638,
          0.0009413020454208813,
          0.0011861720029373876
        ],
        [
          0.004039202521725882,
          0.0027804449396318,
          0.001160669168867638,
          0.038117917135082724,
          0.007471306932652448,
          0.013003560758966718
        ],
        [
          0.005107434399267944,
          -0.001956442982131266,
          0.0009413020454208813,
          0.007471306932652448,
          0.032400000000000005,
          0.007276259737438916
        ],
        [
          0.02799698811549794,
          -0.00036581394129557717,
          0.0011861720029373876,
          0.013003560758966718,
          0.007276259737438916,
          0.36
        ]
      ],
      "gamma": 6,
      "caps": [
        1,
        1,
        1,
        1,
        1,
        1
      ],
      "budget": 1,
      "offsets": [
        -9.188327098836463e-05,
        -5.611894428191912e-05,
        -0.00017810740633168037,
        -0.007342332911762686,
        -0.0005693695548775052,
        -0.0031007954518437186
      ],
      "parameterCovariance": [
        [
          0.0001712112216298226,
          3.525755248909692e-05,
          3.397010202157553e-05,
          3.065518320041003e-05,
          3.687159674049293e-05,
          2.309650974119422e-05
        ],
        [
          3.525755248909692e-05,
          6.948994864651446e-05,
          3.488354990746889e-05,
          2.979096317035359e-05,
          3.3353535122237006e-05,
          3.9056218455960115e-05
        ],
        [
          3.397010202157553e-05,
          3.488354990746889e-05,
          6.827018841920299e-05,
          2.9022149571662138e-05,
          3.4125153755170674e-05,
          3.8069996985639876e-05
        ],
        [
          3.065518320041003e-05,
          2.979096317035359e-05,
          2.9022149571662138e-05,
          0.001220017351208856,
          3.566579455782538e-05,
          2.3869040932044658e-05
        ],
        [
          3.687159674049293e-05,
          3.3353535122237006e-05,
          3.4125153755170674e-05,
          3.566579455782538e-05,
          0.0002715917029790953,
          2.0217219445624015e-05
        ],
        [
          2.309650974119422e-05,
          3.9056218455960115e-05,
          3.8069996985639876e-05,
          2.3869040932044658e-05,
          2.0217219445624015e-05,
          0.01074419618197145
        ]
      ],
      "weights": [
        1.9454644805607526e-18,
        0.35394806587593985,
        0.28882615993536837,
        0.055829100417300555,
        0.12691174863046714,
        0.1020107748286383,
        0.07247415031228566
      ],
      "objective": 0.0173822209752417
    },
    {
      "mu": [
        0.06087239821992025,
        0.05238236874820901,
        0.04642573048082465,
        0.08671760704135617,
        0.072004,
        0.3623215567939546
      ],
      "cash": 0.037503999999999996,
      "covariance": [
        [
          0.0324,
          -0.0003115541274482955,
          0.000607530929975604,
          0.004039202521725882,
          0.005107434399267944,
          0.02799698811549794
        ],
        [
          -0.0003115541274482955,
          0.004900000000000001,
          0.0009380994945016773,
          0.0027804449396318,
          -0.001956442982131266,
          -0.00036581394129557717
        ],
        [
          0.000607530929975604,
          0.0009380994945016773,
          0.0008999999999999998,
          0.001160669168867638,
          0.0009413020454208813,
          0.0011861720029373876
        ],
        [
          0.004039202521725882,
          0.0027804449396318,
          0.001160669168867638,
          0.038117917135082724,
          0.007471306932652448,
          0.013003560758966718
        ],
        [
          0.005107434399267944,
          -0.001956442982131266,
          0.0009413020454208813,
          0.007471306932652448,
          0.032400000000000005,
          0.007276259737438916
        ],
        [
          0.02799698811549794,
          -0.00036581394129557717,
          0.0011861720029373876,
          0.013003560758966718,
          0.007276259737438916,
          0.36
        ]
      ],
      "gamma": 3,
      "caps": [
        1,
        1,
        1,
        0.1,
        1,
        0.15
      ],
      "budget": 0.8,
      "offsets": [
        -9.188327098836463e-05,
        -5.611894428191912e-05,
        -0.00017810740633168037,
        -0.007342332911762686,
        -0.0005693695548775052,
        -0.0031007954518437186
      ],
      "parameterCovariance": [
        [
          0.0001712112216298226,
          3.525755248909692e-05,
          3.397010202157553e-05,
          3.065518320041003e-05,
          3.687159674049293e-05,
          2.309650974119422e-05
        ],
        [
          3.525755248909692e-05,
          6.948994864651446e-05,
          3.488354990746889e-05,
          2.979096317035359e-05,
          3.3353535122237006e-05,
          3.9056218455960115e-05
        ],
        [
          3.397010202157553e-05,
          3.488354990746889e-05,
          6.827018841920299e-05,
          2.9022149571662138e-05,
          3.4125153755170674e-05,
          3.8069996985639876e-05
        ],
        [
          3.065518320041003e-05,
          2.979096317035359e-05,
          2.9022149571662138e-05,
          0.001220017351208856,
          3.566579455782538e-05,
          2.3869040932044658e-05
        ],
        [
          3.687159674049293e-05,
          3.3353535122237006e-05,
          3.4125153755170674e-05,
          3.566579455782538e-05,
          0.0002715917029790953,
          2.0217219445624015e-05
        ],
        [
          2.309650974119422e-05,
          3.9056218455960115e-05,
          3.8069996985639876e-05,
          2.3869040932044658e-05,
          2.0217219445624015e-05,
          0.01074419618197145
        ]
      ],
      "weights": [
        2.101649078228567e-17,
        0.3577673103391101,
        3.652286456407941e-17,
        0.1,
        0.19223268966089005,
        0.14999999999999997,
        0.19999999999999996
      ],
      "objective": 0.030388066582539272
    },
    {
      "mu": [
        0.03087239821992025,
        0.02238236874820901,
        0.01642573048082465,
        0.05671760704135617,
        0.042004,
        0.3323215567939546
      ],
      "cash": 0.037503999999999996,
      "covariance": [
        [
          0.0324,
          -0.0003115541274482955,
          0.000607530929975604,
          0.004039202521725882,
          0.005107434399267944,
          0.02799698811549794
        ],
        [
          -0.0003115541274482955,
          0.004900000000000001,
          0.0009380994945016773,
          0.0027804449396318,
          -0.001956442982131266,
          -0.00036581394129557717
        ],
        [
          0.000607530929975604,
          0.0009380994945016773,
          0.0008999999999999998,
          0.001160669168867638,
          0.0009413020454208813,
          0.0011861720029373876
        ],
        [
          0.004039202521725882,
          0.0027804449396318,
          0.001160669168867638,
          0.038117917135082724,
          0.007471306932652448,
          0.013003560758966718
        ],
        [
          0.005107434399267944,
          -0.001956442982131266,
          0.0009413020454208813,
          0.007471306932652448,
          0.032400000000000005,
          0.007276259737438916
        ],
        [
          0.02799698811549794,
          -0.00036581394129557717,
          0.0011861720029373876,
          0.013003560758966718,
          0.007276259737438916,
          0.36
        ]
      ],
      "gamma": 1,
      "caps": [
        0.2,
        0.2,
        0.2,
        0.2,
        0.2,
        0.2
      ],
      "budget": 0.3,
      "offsets": [
        -9.188327098836463e-05,
        -5.611894428191912e-05,
        -0.00017810740633168037,
        -0.007342332911762686,
        -0.0005693695548775052,
        -0.0031007954518437186
      ],
      "parameterCovariance": [
        [
          0.0001712112216298226,
          3.525755248909692e-05,
          3.397010202157553e-05,
          3.065518320041003e-05,
          3.687159674049293e-05,
          2.309650974119422e-05
        ],
        [
          3.525755248909692e-05,
          6.948994864651446e-05,
          3.488354990746889e-05,
          2.979096317035359e-05,
          3.3353535122237006e-05,
          3.9056218455960115e-05
        ],
        [
          3.397010202157553e-05,
          3.488354990746889e-05,
          6.827018841920299e-05,
          2.9022149571662138e-05,
          3.4125153755170674e-05,
          3.8069996985639876e-05
        ],
        [
          3.065518320041003e-05,
          2.979096317035359e-05,
          2.9022149571662138e-05,
          0.001220017351208856,
          3.566579455782538e-05,
          2.3869040932044658e-05
        ],
        [
          3.687159674049293e-05,
          3.3353535122237006e-05,
          3.4125153755170674e-05,
          3.566579455782538e-05,
          0.0002715917029790953,
          2.0217219445624015e-05
        ],
        [
          2.309650974119422e-05,
          3.9056218455960115e-05,
          3.8069996985639876e-05,
          2.3869040932044658e-05,
          2.0217219445624015e-05,
          0.01074419618197145
        ]
      ],
      "weights": [
        0.0,
        0.0,
        0.0,
        0.08415797635779909,
        0.015842023642201247,
        0.2,
        0.6999999999999996
      ],
      "objective": 0.030849405246444982
    },
    {
      "mu": [
        0.07087239821992025,
        0.06238236874820901,
        0.05642573048082465,
        0.09671760704135617,
        0.082004,
        0.3723215567939546
      ],
      "cash": 0.037503999999999996,
      "covariance": [
        [
          0.0324,
          -0.0003115541274482955,
          0.000607530929975604,
          0.004039202521725882,
          0.005107434399267944,
          0.02799698811549794
        ],
        [
          -0.0003115541274482955,
          0.004900000000000001,
          0.0009380994945016773,
          0.0027804449396318,
          -0.001956442982131266,
          -0.00036581394129557717
        ],
        [
          0.000607530929975604,
          0.0009380994945016773,
          0.0008999999999999998,
          0.001160669168867638,
          0.0009413020454208813,
          0.0011861720029373876
        ],
        [
          0.004039202521725882,
          0.0027804449396318,
          0.001160669168867638,
          0.038117917135082724,
          0.007471306932652448,
          0.013003560758966718
        ],
        [
          0.005107434399267944,
          -0.001956442982131266,
          0.0009413020454208813,
          0.007471306932652448,
          0.032400000000000005,
          0.007276259737438916
        ],
        [
          0.02799698811549794,
          -0.00036581394129557717,
          0.0011861720029373876,
          0.013003560758966718,
          0.007276259737438916,
          0.36
        ]
      ],
      "gamma": 10,
      "caps": [
        1,
        1,
        1,
        1,
        1,
        1
      ],
      "budget": 1,
      "offsets": [
        -9.188327098836463e-05,
        -5.611894428191912e-05,
        -0.00017810740633168037,
        -0.007342332911762686,
        -0.0005693695548775052,
        -0.0031007954518437186
      ],
      "parameterCovariance": [
        [
          0.0001712112216298226,
          3.525755248909692e-05,
          3.397010202157553e-05,
          3.065518320041003e-05,
          3.687159674049293e-05,
          2.309650974119422e-05
        ],
        [
          3.525755248909692e-05,
          6.948994864651446e-05,
          3.488354990746889e-05,
          2.979096317035359e-05,
          3.3353535122237006e-05,
          3.9056218455960115e-05
        ],
        [
          3.397010202157553e-05,
          3.488354990746889e-05,
          6.827018841920299e-05,
          2.9022149571662138e-05,
          3.4125153755170674e-05,
          3.8069996985639876e-05
        ],
        [
          3.065518320041003e-05,
          2.979096317035359e-05,
          2.9022149571662138e-05,
          0.001220017351208856,
          3.566579455782538e-05,
          2.3869040932044658e-05
        ],
        [
          3.687159674049293e-05,
          3.3353535122237006e-05,
          3.4125153755170674e-05,
          3.566579455782538e-05,
          0.0002715917029790953,
          2.0217219445624015e-05
        ],
        [
          2.309650974119422e-05,
          3.9056218455960115e-05,
          3.8069996985639876e-05,
          2.3869040932044658e-05,
          2.0217219445624015e-05,
          0.01074419618197145
        ]
      ],
      "weights": [
        3.1719515697906036e-18,
        0.2475611519141262,
        0.5703428366788781,
        0.033389286914945145,
        0.0830325572501421,
        0.06567416724190848,
        0.0
      ],
      "objective": 0.01901349827879854
    }
  ]
}
