How do you configure quant models?

Here are a few easy steps that you can follow:

• Select a quant model from the explore page.

• Tap on the ‘get started’ button to open the model form. 

• Here, you will find various fields like stock universe, number of stocks, etc. that you can tweak to create your own model. The most popular variations of these are also displayed along with their performance.

• You can accept the most popular configuration to instantly subscribe to the model. Or you can play around with different fields and backtest them with historical market data to generate performance reports. 

• Once the performance report is generated, you can compare your configuration with the most popular configuration.

• After accepting your configuration, you will start receiving live signals.

Here are some things you should remember while comparing model configurations:

1. CAGR: Average yearly growth rate over historical market data. This is an indicator of the historical returns you could have generated with the configuration.
2. Max drawdown: Maximum loss possible if you were to enter trades at the worst recorded price. This is an indicator of the risk involved with the configuration.
3. Hit rate: Hit rate is the number of signals that generate positive returns divided by the total number of signals that were generated. This tells you how successful the respective configuration has been in the past.
   
   

*Note: Past performance is not an indicator of future returns.

You can use the aforementioned values to compare your configurations' performance against the most popular one. If you feel unsure or change your mind, you can always go back to the most popular configuration or update your current one in the future.