Notes

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC_USDT lag7 train slip0.001'. The automated trading fund manager reported the following results for the ETH symbol: the return percentage was 37.14102896745993 percent, the drawdown percentage was 40.635227978524625 percent, and the win percentage was 30 percent. The manager used a 1 hour time frame, a rule called USDC_USDT, a lag of 7, and a slip of 0.001. The results were based on 10 trades, with a mean trade percentage of 4.028100417735462 percent. The half Kelly percentage was 2.9012754917879597 percent, and the exposure percentage was 57.72190867111339 percent. The buy and hold percentage was 30.106603470859604 percent, the average win percentage was 21.10272812958495 percent, and the average loss percentage was 3.2895971730571754 percent. The results included fees of 25 basis points per side and a slip of 10 or 30 basis points. The number of closed trades included forced terminal trades, and the results were based on current vintage supply and assumed availability, with a daily state hourly fill proxy and no managed exits, and a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC_USDT lag2 holdout slip0.003'. This refers to a trading strategy for Ethereum, symbol ETH, with a 1-hour time frame. The rule used is USDC_USDT with a lag of 2, meaning it looks back 2 periods, and it is in the holdout period, which is a phase where the strategy is tested. The slip, or the difference between expected and actual trade price, is 0.003. The return percentage is 2.26491192663768, and the drawdown percentage, which is the maximum loss from a peak, is 6.224114883249998. The win percentage is 100, with 1 trade, and the mean trade percentage is 2.270574206454275. The half Kelly, a measure of optimal bet size, is not available. The exposure percentage, which is the amount of capital used, is 5.883314267037098. The buy and hold percentage, which is the return if the asset was held for the entire period, is -14.878185268963284. The average win percentage is 2.270574206454275, and the average loss percentage is 0. Fees are 25 basis points per side, and slip is 10 or 30 basis points. The number of closed trades includes those that were forced to close at the end of the period. The supply and availability are current, and the daily state is used as a proxy for hourly fill, with no managed exits, and a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC_USDT lag2 holdout slip0.001'. The automated trading fund manager reported a trade with the following details: the symbol was ETH, the time frame was 1 hour, and the rule used was USDC_USDT with a lag of 2. This was during the holdout period with a slip of 0.001. The return percentage was 2.6747925652634024, the drawdown percentage was 6.224114883250009, and the win percentage was 100. There was 1 trade, with a mean trade percentage of 2.6814795466765564. The exposure percentage was 5.883314267037098, and the buy and hold percentage was -14.878185268963284. The average win percentage was 2.6814795466765564, and the average loss percentage was 0. The return, drawdown, and win are in percent. Fees were 25 basis points per side, and slip was 10 or 30 basis points. The number of closed trades includes forced terminal trades. The report assumed current-vintage supply and availability, with a daily state hourly fill proxy, no managed exits, and a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A trading strategy for ETH/USD, which is a way to buy and sell the Ethereum cryptocurrency for US dollars, was tested. The test used a 1 Hour time frame, meaning it looked at prices every hour. It followed the USDC_USDT rule, which compares the prices of two other cryptocurrencies, and used a lag of 2, meaning it waited 2 hours before acting on the comparison. The test was run on a training period, which is a set of historical data used to teach the strategy. The slip, or the difference between the expected and actual price of a trade, was 0.003. The results showed a return of 31.763629467259634 percent, a drawdown, or the largest decrease in value, of 41.460781803823956 percent, and a win percentage, or the percentage of successful trades, of 30 percent. There were 10 trades in total, with a mean trade percentage, or the average change in value per trade, of 3.6118193293979215 percent. The half Kelly, a measure of the optimal amount to bet, was 2.382260966224206. The exposure percentage, or the percentage of the total value that was invested, was 57.72190867111339 percent. The buy and hold percentage, or the return if the strategy had simply bought and held the cryptocurrency, was 30.106603470859604 percent. The average win percentage was 20.61828465069394 percent, and the average loss percentage was 3.676665808300373 percent. The results are based on a fee of 25 basis points, or 0.25 percent, per side, and a slip of 10 or 30 basis points. The number of closed trades includes those that were forced to close at the end of the test. The test assumed that the cryptocurrency was always available to buy or sell, and used a daily state and hourly fill proxy, which is a way to estimate the actual prices at which trades would have been made. There were no managed exits, meaning that the strategy did not try to close trades early to limit losses, and the size of each trade was 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A trading strategy for ETH/USD, also known as Ethereum versus the US dollar, was tested. The test used a 1 Hour time frame, which means the strategy made decisions based on price changes every hour. The strategy was based on the rule USDC_USDT, which compares the prices of two other digital currencies, USDC and USDT. The strategy looked back 2 hours, known as a lag of 2, to make decisions. The test was run on training data, which is a set of historical data used to train the strategy. The strategy allowed for a slip of 0.001, which is a small amount of price movement allowed when buying or selling. The results showed a return of 37.141 percent, a drawdown of 40.635 percent, and a win percentage of 30 percent. The strategy made 10 trades, with an average trade return of 4.028 percent. The half Kelly criterion, a measure of risk, was 2.901 percent. The strategy was exposed to the market 57.721 percent of the time. Buying and holding ETH/USD would have returned 30.106 percent. The average win was 21.102 percent and the average loss was 3.289 percent. The results are based on a fee of 25 basis points per side, which is a small cost of buying or selling, and a slip of 10 or 30 basis points. The number of closed trades includes those that were forced to close at the end of the test. The test assumed that ETH/USD was always available to trade and used a proxy for hourly price changes. The strategy did not use managed exits, which means it did not try to time the market to close trades, and the trade size was 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC_USDT lag1 holdout slip0.003'. This refers to a trade of Ethereum against the US Dollar. The trade details are as follows: the symbol is Ethereum, the time frame is 1 hour, and the rule used is USDC_USDT with a lag of 1. The period of the trade is holdout, with a slip of 0.003. The return percentage is -0.5752033086261861, the drawdown percentage is 6.224114883249965, and the win percentage is 0. The number of trades is 1, with a mean trade percentage of -0.5766413168977547. The half Kelly criterion is null, exposure percentage is 6.275535218172903, and buy and hold percentage is -14.878185268963284. The average win percentage is 0, and the average loss percentage is 0.5766413168977547. Fees are 25 basis points per side, and slip is 10 or 30 basis points. The number of closed trades includes forced terminal trades. The trade assumes current-vintage supply and availability, with a daily state hourly fill proxy, and no managed exits, at a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC_USDT lag1 holdout slip0.001'. The trade details are as follows: the symbol is ETH, the time frame is 1 hour, and the rule is USDC_USDT with a lag of 1. The period is holdout with a slip of 0.001. The return percentage is -0.1767, the drawdown percentage is 6.224, and the win percentage is 0. The mean trade percentage is -0.177, the exposure percentage is 6.275, and the buy and hold percentage is -14.878. The average win percentage is 0 and the average loss percentage is 0.177. Fees are 25 basis points per side and slip is 10 or 30 basis points. The number of closed trades includes forced terminal trades. The supply is current vintage and availability is assumed, with daily state and hourly fill proxy, and no managed exits, with a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A trading strategy for ETH/USD, which is a cryptocurrency pair, was tested. The strategy used a 1 Hour time frame, a rule based on the USDC_USDT exchange rate, and a 1 hour lag. The test was run on a training period with a slip of 0.003. The results showed a return of 31.763629467259634 percent, a drawdown of 41.460781803823956 percent, and a win percentage of 30 percent. The strategy made 10 trades, with a mean trade percentage of 3.6118193293979215. The half Kelly criterion, a measure of risk, was 2.382260966224206. The exposure percentage was 57.72190867111339. For comparison, a buy and hold strategy would have returned 30.106603470859604 percent. The average win was 20.61828465069394 percent and the average loss was 3.676665808300373 percent. The results are based on a return, drawdown, and win percentage in percent, with fees of 25 basis points per side and a slip of 10 or 30 basis points. The number of closed trades includes those that were forced to close at the end of the test period. The test assumed current and vintage supply, and used a daily state hourly fill proxy, with no managed exits and a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC_USDT lag1 train slip0.001'. The details are as follows: the symbol is Ethereum, or ETH for short, which is a type of cryptocurrency. The time frame, or tf, is 1 hour, meaning the data is based on 1-hour periods. The rule used is USDC_USDT, which refers to a trading strategy involving two other cryptocurrencies, USDC and USDT. The lag is 1, which means the data is based on a delay of 1 period. The period is train, which is short for training, meaning the data is used to train a model. The slip is 0.001, which refers to a small amount of money, specifically a cost or fee. The return percentage is 37.14102896745993%, the drawdown percentage is 40.635227978524625%, and the win percentage is 30%. There were 10 trades, with a mean trade percentage of 4.028100417735462%. The half Kelly, a measure of risk, is 2.9012754917879597. The exposure percentage is 57.72190867111339%, the buy and hold percentage is 30.106603470859604%, the average win percentage is 21.10272812958495%, and the average loss percentage is 3.2895971730571754%. The return, drawdown, and win are all in percent. Fees are 25 basis points, or 0.25%, per side, and the slip is 10 or 30 basis points, or 0.10% or 0.30%. The number of closed trades includes forced terminal trades. The supply is current and the availability is assumed. The daily state is based on an hourly fill proxy, with no managed exits, and the size is 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC lag7 holdout slip0.003'. The details are as follows: the symbol is Ethereum, or ETH, with a time frame of 1 hour and a rule based on USDC, which is a type of stablecoin, a digital currency that is pegged to the US dollar. The lag is 7, meaning the system looks back 7 time periods to make decisions. The period is holdout, which is a part of testing where the system is evaluated on data it has not seen before. The slip, or the difference between expected and actual trade price, is 0.003. The return percentage is -0.5803925048128065, the drawdown percentage, which is the largest decline in value, is 6.125950211247622, and the win percentage, or the percentage of winning trades, is 50. There were 2 trades, with a mean trade percentage of -0.2256449514928545. The half Kelly, a measure used to determine the optimal size of a trade, is -0.8620301356435807. The exposure percentage, which is the amount of capital used, is 5.491093315901291. The buy and hold percentage, which is the return if the asset was simply bought and held, is -14.878185268963284. The average win percentage is 3.399118813060589 and the average loss percentage is 3.850408716046298. The return, drawdown, and win percentages are given in percent. Fees are 25 basis points, or 0.25%, per side, and the slip is either 10 or 30 basis points. The number of closed trades includes those that were forced to close at the end of the testing period. The supply and availability are based on current and vintage data, with daily state and hourly fill proxy, and no managed exits, with a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A simulation used 10 samples, finding a mean percentage of 6.0138454487611686. The term'mean percentage' refers to the average percentage. A confidence interval, which is a range of values, was calculated. The results showed a 95% confidence interval of -0.1930783078353961 to 11.983453800237022 for independent and identically distributed data, and 1.1565697922817697 to 10.980763991357453 for block data. The term 'confidence interval' means a range of values that likely includes the true value. The 5th, 50th, and 95th percentiles were -8.053478776971206, 8.402702516453608, and 18.19837275214087, respectively. The term 'percentile' refers to a value below which a certain percentage of data falls. This simulation was run with a seed of 91304 and used fixed raw managed paper. The results are from a bootstrap simulation model, which is a statistical method, and are not a forecast. The stress test assumes a 5% chance of a 30% gap in trade, which has not been observed. The actual size is 0. https://runway.adityaperswal.workers.dev/data/stock-bars

The automated trading fund manager considered a trade with the following details: the half Kelly risk was 0.022537462906204536, the percentage return was 5.192379958246347 percent, the full notional gap was 85.099, and the quarter notional was 21.27475. The number of shares at 47.9 was 0.44414926931106474, the stop loss was 45.41285, and the target price was 55.36145. This information is based on a bootstrap simulation model, which is a type of statistical model that uses random sampling to estimate results, and is not a forecast. The stress test assumes a 5 percent chance of a 30 percent gap, which is a large price movement, although this frequency has not been observed. The actual size of the trade was 0. https://runway.adityaperswal.workers.dev/data/stock-bars

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC lag7 holdout slip0.001'. The trade results for Ethereum, symbol ETH, are as follows: the time frame, or tf, is 1 hour, the rule used is USDC, which refers to a type of stablecoin, and there is a lag of 7. The period is called holdout, and the slip, or small loss per trade, is 0.001. The return percentage is 0.2181577576386502, the drawdown percentage, which is the maximum loss, is 5.561388096742348, and the win percentage is 50. There were 2 trades, and the mean trade percentage is 0.1752554722499293. The half Kelly, a measure of risk, is 0.6631566423816828, and the exposure percentage is 5.491093315901291. The buy and hold percentage, which is a comparison to simply holding the asset, is -14.878185268963284. The average win percentage is 3.814547391755959, and the average loss percentage is 3.4640364472561003. The return, drawdown, and win are in percent. Fees are 25 basis points, or 0.25%, per side, and the slip is 10 or 30 basis points. The number of closed trades includes forced terminal trades. The results assume current-vintage supply and availability, and use a daily-state hourly fill proxy, with no managed exits, and a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A simulation used 20,000 paths and 20 trades with an allocation of 2.5 percent. The return percentages at the 5th, 50th, and 95th percentiles were -3.0561443439370617, -0.4951192535856186, and 2.401927587792095 percent respectively. The odds of a loss were 61.55500000000001 percent. The maximum drawdown at the 95th percentile was 3.512793545025467 percent. This stress test assumes a 5 percent chance of a 30 percent trade gap, which is not based on observed frequency. The actual size is 0. A news scan found the seed as 91304, with a fixed raw managed paper, using a bootstrap simulation conditional model that provides outputs, not a forecast. https://runway.adityaperswal.workers.dev/data/stock-bars

A simulation of 20 trades was run on 20000 paths. The allocation percentage was 2.5%. The return percentages at the 5th, 50th, and 95th percentiles were -2.054831115395713%, 0.25727986644485945%, and 3.0287834972138% respectively. The odds of loss were 43.335%. The maximum drawdown at the 95th percentile was 2.5778943002513395%. This simulation used a seed of 91304 and a fixed raw managed paper. The bootstrap simulation model provided conditional outputs, which are not forecasts. The stress test assumed a 5% chance of a 30% trade gap, which is not based on observed frequency. The actual size was 0. https://runway.adityaperswal.workers.dev/data/stock-bars

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC lag7 train slip0.003'. The trading fund manager's notes are as follows: the symbol is ETH, which is a type of cryptocurrency, and it was traded with a 1 Hour time frame, meaning each trade lasted one hour. The rule used was USDC, which refers to a type of stablecoin, a digital currency tied to the US dollar. The lag was 7, which means the system looked back 7 time periods to make decisions. This was a training period, where the system learned how to trade. The slip, or the difference between expected and actual trade prices, was 0.003. The return percentage was 42.75542549076171%, the drawdown percentage, which is the largest drop in value, was 39.40942531411282%, and the win percentage, which is the percentage of trades that made money, was 30%. There were 10 trades in total, and the average trade return was 5.666310252824146%. The half Kelly criterion, a measure used to determine the optimal size of a trade, was 1.581512687510365. The exposure percentage, which is the amount of money invested, was 51.84995154210136%. If the money had been invested in a buy and hold strategy, it would have returned 30.106603470859604%. The average winning trade returned 31.96460877535071%, and the average losing trade lost 5.604389113972952%. The return, drawdown, and win percentages are all in percent. The fees were 25 basis points, or 0.25%, per side, and the slip was 10 or 30 basis points, or 0.10% or 0.30%. The number of closed trades includes those that were forced to close at the end of the period. The supply and availability of the cryptocurrency were assumed to be current and vintage, meaning they were based on current market conditions and past data. The daily state and hourly fill proxy, which are measures of market conditions, were used, but there were no managed exits, meaning the system did not try to time the market or make trades based on expected future conditions. The size of the trades was 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

A news scan found the headline 'TEN R91304 uncertainty and conditional sizing train'. The given data is a simulation output, not a forecast. It shows the results of a bootstrap simulation, which is a statistical method, also known as a conditional model. The numbers are: 29 samples, with a mean percentage of 0.6674101100774836. The uncertainty range, or confidence interval, is between -4.027612972876492 percent and 5.788505236283171 percent. Another range, called block3, is between -3.528847164777429 percent and 5.132607093026194 percent. The percentages for the 5th, 50th, and 95th percentiles are -13.01716592393981 percent, -6.713998098143503 percent, and 28.163777057696187 percent. This is based on a seed value of 91304 and a fixed raw managed paper. The stress test assumes a 5 percent chance of a 30 percent gap in trade, which has not been observed. The actual size is 0. https://runway.adityaperswal.workers.dev/data/stock-bars

A news scan found the headline 'TEN R91304 computed fundamental annual_2025_pre_growth_cash_per_share'. The report is based on Python arithmetic from dated observations from 2027 to 2029 and 2016 to 2017. The book proxy uses June equity and vessels, and March 30 data, which includes 127,603 million common shares, 287.327 million preferred liquidation, and 50.13 million non-controlling interest proxy, calculated as December 43.529 plus first half income of 6.601, assuming no other flows. The report notes that haircuts are illustrative, not appraisals. For fiscal year 2025, pre-growth cash operating cash flow is 297.622, with improvements of 3.5, preferred dividends of 27, and scheduled debt of 184.1, and dry dock expenses are already included in operating cash flow. Annualized first half earnings per share is not forecast. The report refers to sections 3127 and 3128 for premises and limitations. https://www.sec.gov/Archives/edgar/data/1166663/000119312526144027/d49235d20f.htm ; https://www.globenewswire.com/news-release/2026/09/10/3359616/0/en/ten-ltd-reports-profits-for-the-first-half-and-second-quarter-of-2026.html

A trading strategy for ETH/USD, which is a cryptocurrency pair, was tested. The strategy used a 1 hour time frame, a rule based on USDC, a lag of 7, and a slip of 0.001. The results showed a return of 48.58%, a drawdown of 38.68%, and a win percentage of 30%. The strategy made 10 trades, with a mean trade percentage of 6.09%. The half Kelly criterion, a measure of risk, was 1.79. The exposure percentage was 51.85%, and the buy and hold percentage was 30.11%. The average win percentage was 32.49%, and the average loss percentage was 5.23%. The results are based on a fee of 25 basis points per side, and a slip of 10 or 30 basis points. The number of closed trades includes forced terminal trades. The strategy assumed current vintage supply and availability, and used a daily state hourly fill proxy, with no managed exits, and a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

The automated trading fund manager used Python arithmetic to analyze observations from dates 27201 to 27209 and 27216 to 27217. The analysis, called bookproxy, used June equity and vessels, and data from March 30, including 127,603 million common shares, 287.32735 million preferred liquidation, and 50.13 million non-controlling interest proxy, which equals December 43.529 plus first half income of 6.601, assuming no other flows. The haircuts are illustrative and not appraisals. For the fiscal year 2025, the pre-growth cash operating cash flow is 297.622, with improvements of 3.5, preferred dividends of 27, and scheduled debt of 184.1, and the dry dock expenses are already included in the operating cash flow. The annualized first half earnings per share is not forecast. For premises and limitations, refer to sections 3127 and 3128. https://www.sec.gov/Archives/edgar/data/1166663/000119312526144027/d49235d20f.htm ; https://www.globenewswire.com/news-release/2026/09/10/3359616/0/en/ten-ltd-reports-profits-for-the-first-half-and-second-quarter-of-2026.html

A computer calculation, known as a fundamental scrap acceleration multiple, was made using Python arithmetic and old observations from dates 27201 to 09 and 27216 to 17. This calculation uses a book proxy, which includes June equity and vessels, and numbers from March 30, such as 127,603 million common shares, 287.32735 million preferred liquidation, and 50.13 million non-controlling interest proxy, which equals 43.529 from December plus 6.601 from the first half of the year, assuming no other flows. The term non-controlling interest proxy refers to the value of shares not owned by the company. Haircuts, which are reductions in value, are used for illustration, not as actual appraisals. The calculation also looks at the company's cash flow for the fiscal year 2025, which is predicted to be 297.622, with improvements of 3.5, preferred payments of 27, and scheduled debt of 184.1, and notes that drydock expenses are already included in the cash flow. The annualized earnings per share for the first half of the year is not a forecast. For more information on the assumptions and limitations of this calculation, see documents 3127 and 3128. https://www.tenn.gr/wp-content/uploads/2026/09/TEN_Q2_2026.pdf

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC lag2 holdout slip0.003'. The automated trading fund manager reported on a trade of Ethereum, symbol ETH, with a 1 Hour time frame, using the USDC rule, and a lag of 2. The period of the trade was holdout, with a slip of 0.003. The return percentage was 2.8408126824157023, and the drawdown percentage was 6.462538339398771. The win percentage was 100, with 2 trades made. The mean trade percentage was 1.4177320654185654. The exposure percentage was 7.452198071580324. The buy and hold percentage was -14.878185268963284. The average win percentage was 1.4177320654185654, and the average loss percentage was 0. The return, drawdown, and win are in percent. Fees are 25 basis points per side, and slip is 10 or 30 basis points. The number of closed trades includes forced terminal trades. The current vintage supply and assumed availability were used, with a daily state hourly fill proxy, and no managed exits, at size 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees

The automated trading fund manager used Python arithmetic to calculate the fundamental annualized scrap actual value based on observations from September 27, 201 to September 27, 2017, and from December 16 to December 17. The book proxy uses June equity and vessels, and as of March 30, there were 127,603 million common shares, 287.32735 million preferred shares with liquidation value, and 50.13 million non-controlling interest proxy, which equals December 43.529 plus half-year income of 6.601, assuming no other flows. The haircuts are illustrative and not appraisals. For the fiscal year 2025, the pre-growth cash operating cash flow is 297.622, with improvements of 3.5, preferred shares of 27, and scheduled debt of 184.1, and the dry dock is already included in the operating cash flow. The annualized half-year earnings per share is not forecast. For premises and limitations, see documents 3127 and 3128. https://www.tenn.gr/wp-content/uploads/2026/09/TEN_Q2_2026.pdf

A computer calculation, called TEN R91304, was made to determine the fundamental value of a company based on its performance over three years. This calculation used data from the years 2009 to 2017. The company's book value, which is the value of its assets minus its debts, was estimated using the value of its equity and vessels as of June and March 30. The calculation assumed the company had 127,603,000 common shares, 287,327,000 preferred shares that could be liquidated, and 50.13 million non-controlling interests, which is a type of investment where the investor does not have control over the company, as of December. The calculation also assumed the company had income of 43.529 million in the first half of the year and 6.601 million in other income, with no other flows of money in or out. The calculation included haircuts, which are reductions in the value of assets, but these were only examples and not actual appraisals of the assets' values. The company's cash flow from operations, which is the money it has available to pay debts and invest, was estimated to be 297.622 million in the fiscal year 2025, with 3.5 million in improvements, 27 million in preferred debt, and 184.1 million in scheduled debt payments. The cost of drydocking, which is a type of maintenance for vessels, was already included in the cash flow estimate. The company's earnings per share, which is a measure of its profitability, was not forecast for the first half of the year. For more information on the assumptions and limitations of this calculation, see documents 3127 and 3128. https://www.tenn.gr/wp-content/uploads/2026/09/TEN_Q2_2026.pdf

A news scan found the headline 'ETH/USD C91304 costed 1Hour USDC lag2 holdout slip0.001'. This refers to a trading strategy for Ethereum, symbol ETH, with a 1-hour time frame, using USDC as a rule, and a lag of 2. The period is called holdout and the slip is 0.001. The return percentage is 3.6668424770137453, the drawdown percentage is 6.462538339398616, and the win percentage is 100. There were 2 trades, with a mean trade percentage of 1.8252191903915793. The exposure percentage is 7.452198071580324, and the buy and hold percentage is -14.878185268963284. The average win percentage is 1.8252191903915793, and the average loss percentage is 0. This includes fees of 25 basis points per side and a slip of 10 or 30 basis points. The number of closed trades includes those that were forced to terminate. The supply and availability are current and assumed, with daily state and hourly fill proxy, and no managed exits, at a size of 0. https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://stablecoins.llama.fi/stablecoin/2 ; https://stablecoins.llama.fi/stablecoin/1 ; https://docs.alpaca.markets/us/docs/crypto-fees