Metrics

This reference explains what the main Performax metrics mean and what data they depend on. Performax displays analytics from your own trading history. Metrics describe past data. They are not market predictions, trade instructions, or performance guarantees.

Which trades count

Result-based metrics use closed trades. Each trade’s result is its net PnL: gross result minus fees, plus or minus funding. Stablecoin conversions and unmatched spot buys or sells are left out.

Date basis

Closed-trade analytics generally use the realized date: exit date when present, otherwise entry date. Some views place trades on their entry date instead: the Performance timeline, the Temporal heatmap, Symbol distribution, the Correlation network, and streaks on the Analytics page. Session analysis lets you choose between entry (Open) and exit (Close) time. Open-position widgets use current position data because the trade is not realized yet.

Cashflows

Deposits and withdrawals affect account balance. They should not be treated as trading profit or loss.

Balance (wallet) includes deposits and withdrawals.
Performance (NAV) isolates trading performance from cashflows: deposits and withdrawals change the number of units held, not the performance. It can be compared with a benchmark.
Missing cashflows can make drawdown and equity views look wrong. If a warning appears, add or sync the missing cashflow data before trusting the chart.

Core metrics

Metric	Formula or basis	Notes
PnL	Gross result minus fees, including funding	Shown in your display currency where conversion data is available. Daily PnL also includes the unrealized PnL of open positions.
Win rate	Winning closed trades / total closed trades	A breakeven trade (result of exactly zero) counts as a non-win. Empty if there are no closed trades.
Profit factor	Gross profit / absolute gross loss	Shown as `-` when there are no losses.
Expectancy	(win share × average win) − (loss share × average loss)	In account currency, fees and funding included.
Sharpe ratio	Average daily return / standard deviation of daily returns	Not annualized, risk-free rate of zero. Every day between the first and last trade counts, including days without trades. Short samples are noisy.
Sortino	Average daily return / downside deviation	Not annualized. Focuses on downside movement.
Calmar	Annualized return / maximum drawdown	Return is annualized linearly. Sensitive to drawdown and cashflow completeness.
Max drawdown	Largest peak-to-trough decline, in %	Cashflow-aware (performance basis), capped at 100%. On the dashboard, open positions’ unrealized PnL is included.
R-Multiple	With a stop: price move / distance between entry and stop. Without a stop: result / (equity at entry × your risk per trade)	Risk per trade comes from your Trading profile settings (1% by default). Trades without an R are left out of averages.
MAE	Maximum adverse excursion, in % of entry price	How far a trade moved against you before exit, from market prices during the trade.
MFE	Maximum favorable excursion, in % of entry price	How far a trade moved in your favor before exit.
Edge ratio	Average MFE / average MAE	Useful only when MAE and MFE samples are available.

Scores

Score	How it is built	Notes
P score	0 to 100 over the last 30 days: return (30%), Sharpe ratio (40%), maximum drawdown (30%)	Uses trades closed in the last 30 days. Shown with a letter grade.
Tilt score	0 to 100, from patterns such as a losing streak beyond two trades, trades placed only minutes apart, or a last trade much larger than usual	Higher means more signs of emotional trading.
Coach status	Daily compliance score of your enabled rules; each violation lowers it according to its severity	The streak counts consecutive days at 80 or more.

Behavioral metrics

Metric	What it checks	Notes
Streak analytics	Consecutive wins or losses	On the dashboard’s Consecutive losses widget, a breakeven trade neither extends nor breaks a losing streak.
Session analysis	Performance by trading session	Fixed UTC hours: Asia 00–08, London 08–12, Overlap 12–16, NY PM 16–21, Dead 21–00.
Temporal heatmap	Performance by day and hour	Shown in your timezone. Requires enough trades to avoid over-reading the pattern.
Symbol distribution	Result by traded pair	Small samples can overstate a symbol edge.
Correlation network	Correlation of daily PnL between traded symbols	Needs at least 5 days in common per pair. Correlation does not prove causation or future behavior.

Empty and partial states

Some widgets show empty, partial, or warning states when data is missing. Common causes:

No connected exchange account.
First sync still running.
No closed trades in the selected period.
Missing balance or cashflow history.
Exchange API limitation.
Credentials expired or invalid.

When a metric looks unexpected, compare the selected period and filters before assuming the calculation is wrong.

Getting started

Core workflows

Settings

Reference

Which trades count

Date basis

Cashflows

Core metrics

Scores

Behavioral metrics

Empty and partial states

​Which trades count

​Date basis

​Cashflows

​Core metrics

​Scores

​Behavioral metrics

​Empty and partial states

Which trades count

Date basis

Cashflows

Core metrics

Scores

Behavioral metrics

Empty and partial states