> ## Documentation Index
> Fetch the complete documentation index at: https://docs.everstrike.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Reading a Fast Estimate: Coverage, Metrics and Trades

> Understand a Fast Estimate result: prompt coverage, the headline metrics, detailed risk and cost metrics, the trade list and data quality notes.

A [Fast Estimate](https://docs.everstrike.io/ai/fast-estimates.md) result has four parts: coverage, headline metrics, detailed metrics and the trades.

## 1. Prompt coverage

Coverage shows how much of your prompt the backtest could turn into rules:

* **Included**: tested as written.
* **Partial**: tested in part, or with an assumption.
* **Unsupported**: not tested at all.

> [!WARNING]
>
> Read coverage first. A great return with low coverage tests only part of your strategy.

## 2. Headline metrics

| Metric | Meaning |
| - | - |
| **Net return** | The change in equity over the test |
| **Ending equity** | Equity at the end |
| **Max drawdown** | The largest fall from a peak |
| **Sharpe** | Annualized return relative to equity-curve volatility |
| **Win rate** | Share of trades that made money |
| **Trades** | Number of trades |
| **APY** | The return, annualized |
| **Profit factor** | Gross profit divided by gross loss |
| **Exposure** | Share of the time a position was open |
| **Fees** | Fees paid |

## 3. Detailed metrics

**View detailed metrics** adds:

* **Performance**: APR, APY / CAGR, test duration and net P/L.
* **Risk**: Sortino, Calmar, annualized volatility, max drawdown duration, expectancy, payoff ratio, average trade and average hold.
* **Costs & usage**: fee drag, funding, turnover and rejected orders.

## 4. The trades

Each trade shows **Side**, **Opened**, **Closed**, **Entry**, **Exit**, **Qty**, **Net P/L**, **Return**, **Capital** and the **Reason** it opened or closed. Long lists show the first 50.

## Data quality

Notes at the end say how many candles were loaded, and whether any were corrected (for example highs and lows that didn't contain the open and close) or dropped.

## What to look for

* **Enough trades.** A handful of trades proves very little.
* **Drawdown** you could live with.
* **Fees and funding.** A strategy that trades often can lose its edge to costs.
* **Other markets and periods.** Run it again elsewhere before trusting it.


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