Getting Started

Start with Portfolio Backtest. Run a simple historical portfolio comparison, then move to tax-aware analysis, signal research, Strategy Builder, or Monte Carlo if the question requires it.

Core Terms

Term	Meaning	Example
Ticker	A market series used in analysis, backtests, or signals.	SPY, AGG, GLD, VTI
Strategy	Rules that determine what an allocation holds.	Buy SPY, or switch between SPY and SHY
Allocation	A weighted part of a portfolio that runs one strategy.	60% equities, 40% bonds
Portfolio	One or more allocations plus optional cashflows and rebalance settings.	An 80/20 portfolio with monthly rebalancing

Run A First Backtest

The fastest first run is a simple two-asset portfolio in Portfolio Backtest.

Open Portfolio Backtest.
Set the portfolio to 80% SPY and 20% AGG.
Set Price Mode to Total Return.
Set a long date range, such as 2010-01-04 through 2025-12-31.
Enable monthly portfolio rebalancing.
Run the backtest and review the equity curve, drawdown chart, and metric table.

This gives you one complete run with explicit assumptions. Change one input at a time after that.

Change These Inputs First

Input	What It Changes
Date range	The historical sample used in the run.
Price mode	Whether returns use total-return or raw-price series.
Weights	The target split across assets or strategies.
Rebalancing	When weights are restored to target.
Cashflows	Contributions or withdrawals applied during the run.
Tax-aware engine	After-tax results, tax drag, lot handling, and annual settlement.

Read The First Result

Equity curve: cumulative portfolio value through time.
Drawdown chart: peak-to-trough loss through time.
CAGR: annualized growth rate for the full period.
Volatility and Sharpe ratio: how variable returns were and how much return was delivered per unit of volatility.
Maximum drawdown: the deepest historical loss from a prior peak.

A different date range, price mode, rebalance rule, tax profile, or cashflow schedule is a different experiment.

Save Analyses And Library Items

Type	What It Stores	Use It For
Analysis	Tool inputs, result snapshot, and reopen state for one run.	Reopen, compare, or branch a prior run.
Library item	A reusable object such as a Library portfolio, Library strategy, or Library signal.	Load the same object into new work.

Use Workspace to manage analyses and library items.

Choose The Next Tool

Tax-Aware Backtesting: compare pre-tax and after-tax outcomes for the same portfolio.
Signal Analyzer: test whether an indicator lines up with a later outcome.
Strategy Builder: build rule-driven switching portfolios.
Monte Carlo: stress test a portfolio under simulated return paths.
Workspace: reopen analyses, compare analyses, and manage Library items.