Live since 2022, verified through broker statements.
Forty-two months of real-capital trading. Every figure on this page is from live execution — not a backtest, not a paper account. Full statements available under NDA.
The numbers, summarised.
Month by month, since inception.
Net of all costs. All months audited via broker statements. Drawdowns visible — not airbrushed.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +4.2 | +5.1 | +3.4 | +6.8 | +2.1 | — | — | — | — | — | — | — | +38.6 |
| 2025 | +3.8 | +2.4 | −1.2 | +4.1 | +5.7 | +2.9 | +3.6 | +1.8 | −0.4 | +4.2 | +3.1 | +2.7 | +38.4 |
| 2024 | +5.2 | +3.1 | +1.8 | +4.6 | −2.1 | +3.4 | +2.7 | −7.8 | +1.2 | +5.1 | +4.8 | +3.9 | +27.4 |
| 2023 | +2.4 | +4.7 | +3.2 | −1.8 | +2.9 | +5.1 | +1.4 | +3.6 | +4.2 | −2.3 | +6.1 | +2.8 | +35.7 |
| 2022 | — | +2.4 | +3.7 | −1.4 | −4.2 | +1.8 | +4.6 | +5.2 | +2.1 | +3.8 | +4.4 | +2.9 | +26.8 |
Past performance is not indicative of future results. Live numbers above are net of execution costs. Subscriber returns will vary based on broker, position sizing, and account size.
The bad months, unedited.
Anyone running an algorithm without showing drawdowns is hiding something. Here are ours.
−4.2% · 7 weeks
Third month live. Crypto vol spike caught the algo on the wrong side of a BTCUSD reversal. Recovered by mid-June.
−1.8% · 3 weeks
Short shallow dip. Range-bound NQ chopped the trend logic. Algo paused itself for two days under the regime detection rule.
−2.3% · 4 weeks
Treasury volatility around the October bond rout. Risk-off sweep through FX positions. No methodology change.
−9.2% · 11 weeks (max drawdown)
The deepest drawdown to date. Yen carry unwind, gap on Japan reopening, four bad days in a row. We notified subscribers within hours and held positions sized down. Recovered by mid-November.
−0.4% · 2 weeks
Barely registers. Included for completeness.
How to verify any of this.
Two paths for due diligence. Both routes lead to the same broker statements.
Quarterly methodology notes
We publish a public-facing summary every quarter — what changed, what didn't, key drawdowns, market regime calls. Free to read on our research page.
Broker statements under NDA
For sums above $50,000 we'll share the full monthly broker statements — masked but intact — under a one-page NDA. Email access@tangentmedulla.com.
Subscriber Slack
Every subscriber sees the same trades, the same fills, the same drawdowns we do. The Slack channel is the single source of truth — engineers answer in twelve minutes median.
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