{"schema":1,"generated_at":"2026-10-08T19:35:20Z","name":"60/20/20: 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_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_gold":[21.09,19.31,19.53,18.43,18.22,18.53,20.13,19.71,19.19,20.58,19.97,19.69,20.44,23.35,22.08,23.26,21.56,20.02,19.13,19.25,18.93,19.82,21.65,20.87,19.5,18.12,17.75,17.44,17.89,17.4,16.58,16.71,16.19,24.33,25.34,26.54,24.11,26.1,30.4,28.74,27.3,31.33,32.12,34.89,33.71,21.63,23.54,22.15,19.55,16.4,16.46,15.63,15.84,15.43,16.46,16.97,15.71,20.07,20.63,19.62,20.09,21.73,21.48,20.37,21.23,20.38,20.49,21.83,21.43,20.8,21.97,20.82,21.95,22.58,21.96,23.13,26.98,26.54,26.72,29.22,28.65,19.02,18.7,18.31,19.26,19.95,19.27,19.55,19.93,19.12,19.06,18.68,17.98,19.68,20.14,20.18,18.23,18.08,17.34,19.72,22.26,20.45,19.54,19.51,18.42,20.66,20.68,18.73,19.22,16.54,16.43,16.23,15.93,15.25,14.34,14.09,14.54,19.85,18.94,19.27,20.13,19.6,19.38,17.92,19.76,19.37,19.44,18.69,18.53,21.71,24.4,22.9,23.09,21.83,22.54,22.02,21.61,21.91,21.04,20.95,20.56,20.01,19.78,18.72,18.59,18.3,18.22,17.39,17.94,18.18,17.26,17.2,16.8,20.11,20.75,21.27,20.74,20.92,20.72,19.63,19.49,20.59,21.74,20.39,20.93,21.06,21.08,19.29,19.36,19.24,20.3,21.35,23.08,22.13,22.12,21.58,21.93,20.77,22.15,25.03,23.14,23.37,25.28,26.34,24.92,24.67,24.36,22.17,21.55,20.11,18.36,17.41,18.45,17.95,17.11,17.45,16.38,15.57,16.15,16.5,16.11,20.26,21.68,21.43,21.74,22.0,22.58,21.54,20.83,20.96,20.48,20.76,21.71,21.13,21.05,22.2,21.67,21.23,20.06,19.98,20.02,19.29,20.56,20.02,19.24,19.59,19.24,20.34,20.96,20.96,19.95,18.82,19.24,19.66,21.35,20.72,20.76,21.69,23.32,23.14,23.64,23.31,22.93,23.73,24.72,26.76,27.05,27.78,29.03,23.95,23.2,23.38,22.46,23.17,21.1,20.97,22.85,22.36,22.31],"w_gsec5":[20.57,19.84,19.35,18.79,18.17,17.18,18.23,16.93,16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