{"schema":1,"generated_at":"2026-10-08T19:35:19Z","name":"GTAA, India only: holdings at each month-end","resolution":"month-end","meta":{"spec":"docs/research/models_v1_spec.md","disclaimer":"Rules registered in advance and tracked in public. Not investment advice: a model's holdings describe what its rule says, not what anyone should buy. Backtests before a model's entry date are not evidence of future results.","as_of":"2026-10-06","n_trials":191,"signal_freshness":{"cape":"2026-08-31","yield_gap":"2026-10-08","pe_n500":"2026-10-08"},"notes":["Returns after costs. After-tax figures: resident individual in the 30% slab, Indian capital-gains rules by date, everything sold at the end.","Foreign legs: S&P 500 and Nasdaq-100 price indices in rupees, held through LRS (0.60% each way, 0.10% a year), one session behind the NSE close.","dsr_* is the deflated Sharpe ratio over all counted trials; 0.95 is the usual bar."],"source":"tipsheet models, computed from NSE total-return indices, domestic gold (World Gold Council), the NSE 5-year G-sec index, the 91-day T-bill, and for foreign legs the S&P 500 and Nasdaq-100 in rupees (ECB rates).","assets":{"w_cash":"Cash (91-day T-bill, as a liquid fund)","w_gold":"Gold (domestic, rupees)","w_gsec5":"G-sec 5-year (NSE benchmark index)","w_n500":"Nifty 500"}},"dates":["2005-04-29","2005-05-31","2005-06-30","2005-07-29","2005-08-31","2005-09-30","2005-10-31","2005-11-30","2005-12-30","2006-01-31","2006-02-28","2006-03-31","2006-04-29","2006-05-31","2006-06-30","2006-07-31","2006-08-31","2006-09-29","2006-10-31","2006-11-30","2006-12-29","2007-01-31","2007-02-28","2007-03-30","2007-04-30","2007-05-31","2007-06-29","2007-07-31","2007-08-31","2007-09-28","2007-10-31","2007-11-30","2007-12-31","2008-01-31","2008-02-29","2008-03-31","2008-04-30","2008-05-30","2008-06-30","2008-07-31","2008-08-29","2008-09-30","2008-10-31","2008-11-28","2008-12-31","2009-01-30","2009-02-27","2009-03-31","2009-04-29","2009-05-29","2009-06-30","2009-07-31","2009-08-31","2009-09-30","2009-10-30","2009-11-30","2009-12-31","2010-01-29","2010-02-26","2010-03-31","2010-04-30","2010-05-31","2010-06-30","2010-07-30","2010-08-31","2010-09-30","2010-10-29","2010-11-30","2010-12-31","2011-01-31","2011-02-28","2011-03-31","2011-04-29","2011-05-31","2011-06-30","2011-07-29","2011-08-30","2011-09-30","2011-10-31","2011-11-30","2011-12-30","2012-01-31","2012-02-29","2012-03-30","2012-04-30","2012-05-31","2012-06-29","2012-07-31","2012-08-31","2012-09-28","2012-10-31","2012-11-30","2012-12-31","2013-01-31","2013-02-28","2013-03-28","2013-04-30","2013-05-31","2013-06-28","2013-07-31","2013-08-30","2013-09-30","2013-10-31","2013-11-29","2013-12-31","2014-01-31","2014-02-28","2014-03-31","2014-04-30","2014-05-30","2014-06-30","2014-07-31","2014-08-28","2014-09-30","2014-10-31","2014-11-28","2014-12-31","2015-01-30","2015-02-28","2015-03-31","2015-04-30","2015-05-29","2015-06-30","2015-07-31","2015-08-31","2015-09-30","2015-10-30","2015-11-30","2015-12-31","2016-01-29","2016-02-29","2016-03-31","2016-04-29","2016-05-31","2016-06-30","2016-07-29","2016-08-31","2016-09-30","2016-10-30","2016-11-30","2016-12-30","2017-01-31","2017-02-28","2017-03-31","2017-04-28","2017-05-31","2017-06-30","2017-07-31","2017-08-31","2017-09-29","2017-10-31","2017-11-30","2017-12-29","2018-01-31","2018-02-28","2018-03-28","2018-04-30","2018-05-31","2018-06-29","2018-07-31","2018-08-31","2018-09-28","2018-10-31","2018-11-30","2018-12-31","2019-01-31","2019-02-28","2019-03-29","2019-04-30","2019-05-31","2019-06-28","2019-07-31","2019-08-30","2019-09-30","2019-10-31","2019-11-29","2019-12-31","2020-01-31","2020-02-28","2020-03-31","2020-04-30","2020-05-29","2020-06-30","2020-07-31","2020-08-31","2020-09-30","2020-10-30","2020-11-27","2020-12-31","2021-01-29","2021-02-26","2021-03-31","2021-04-30","2021-05-31","2021-06-30","2021-07-30","2021-08-31","2021-09-30","2021-10-29","2021-11-30","2021-12-31","2022-01-31","2022-02-28","2022-03-31","2022-04-29","2022-05-31","2022-06-30","2022-07-29","2022-08-30","2022-09-30","2022-10-31","2022-11-30","2022-12-30","2023-01-31","2023-02-28","2023-03-31","2023-04-28","2023-05-31","2023-06-30","2023-07-31","2023-08-31","2023-09-29","2023-10-31","2023-11-30","2023-12-29","2024-01-31","2024-02-29","2024-03-28","2024-04-30","2024-05-31","2024-06-28","2024-07-31","2024-08-30","2024-09-30","2024-10-31","2024-11-29","2024-12-31","2025-01-31","2025-02-28","2025-03-28","2025-04-30","2025-05-30","2025-06-30","2025-07-31","2025-08-29","2025-09-30","2025-10-31","2025-11-28","2025-12-31","2026-01-30","2026-02-27","2026-03-30","2026-04-30","2026-05-29","2026-06-30","2026-07-31","2026-08-31","2026-09-30","2026-10-06"],"series":{"w_cash":[34.3,32.39,32.88,0.0,32.88,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,33.1,67.27,0.0,0.0,32.78,0.0,33.24,34.58,0.0,0.0,32.89,33.19,32.78,33.2,32.11,0.0,0.0,0.0,0.0,0.0,0.0,33.66,32.61,33.11,67.63,67.96,32.08,34.05,66.28,32.2,33.1,32.45,34.16,33.55,0.0,0.0,0.0,0.0,0.0,0.0,31.3,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,32.82,33.37,0.0,33.47,33.59,32.67,31.7,34.12,33.31,32.7,34.04,33.0,33.32,0.0,0.0,0.0,33.12,0.0,0.0,0.0,0.0,0.0,0.0,0.0,34.05,33.54,66.27,33.35,33.82,67.72,100.0,68.1,66.29,0.0,0.0,0.0,0.0,0.0,33.31,32.2,32.92,33.34,32.99,33.43,32.79,32.99,33.53,32.64,0.0,33.85,33.96,0.0,0.0,33.11,34.1,33.62,66.67,34.06,66.57,66.61,32.47,33.38,33.06,0.0,0.0,0.0,0.0,0.0,0.0,0.0,33.61,66.69,33.19,33.01,33.22,33.12,33.35,32.8,33.5,0.0,0.0,0.0,0.0,0.0,0.0,0.0,33.35,33.56,0.0,33.57,33.1,0.0,66.43,33.86,66.41,32.8,33.28,33.76,0.0,0.0,0.0,0.0,32.16,33.89,0.0,0.0,0.0,0.0,0.0,33.74,33.05,33.31,31.37,32.26,0.0,0.0,0.0,0.0,0.0,0.0,0.0,33.34,33.32,32.62,33.18,33.17,0.0,32.96,33.31,0.0,0.0,0.0,0.0,33.32,0.0,34.07,66.63,66.5,0.0,0.0,32.76,33.02,0.0,0.0,0.0,32.58,33.22,0.0,0.0,0.0,0.0,0.0,33.69,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,32.98,32.81,32.83,33.12,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,33.32,32.97,34.22,33.22,33.6,0.0,66.66],"w_gold":[0.0,0.0,0.0,32.17,0.0,34.16,35.16,33.45,33.11,34.44,32.6,33.45,34.76,35.68,31.99,34.09,32.73,31.59,32.74,0.0,32.81,0.0,0.0,32.56,31.35,0.0,0.0,0.0,0.0,0.0,32.85,33.29,33.71,37.78,34.62,33.17,32.81,35.04,34.95,32.37,32.04,35.71,30.42,0.0,33.34,34.5,35.13,32.54,32.04,31.15,33.3,32.87,33.85,33.08,34.51,33.97,31.57,33.12,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