Glossary
Terms as SleeveFolio uses them — product meanings first, textbook second.
| Sleeve | One of the three allocation buckets — stocks, crypto, cash — each with a budget orders must respect |
| Universe | The list of symbols your strategies are allowed to rank and trade |
| Factor tilt | Weighting a ranking toward measurable characteristics — momentum, low volatility, value, quality — rather than picking stocks by hand |
| Composite score | The weighted blend of a symbol’s factor scores that drives its rank |
| Signal | One ranked symbol from a run, carrying a buy / hold / sell action |
| Paper / Live | Paper trades with real market data but zero real dollars; live trades your actual money at the broker |
| The gate | The Paper → Live safety checkpoint: 2FA enrolled + zero unresolved reconciliation drift |
| Drift | A disagreement between SleeveFolio’s records and the broker’s, found by the 15-minute reconciliation check |
| Kill switch | The always-one-click trio: Pause, Cancel open orders, Liquidate |
| Purchase lot | One buy’s quantity + cost basis (what you paid) + date; positions are stacks of lots |
| Cost basis | What you paid for shares, used to work out profit or loss when you sell |
| Backtest | A trial run of a strategy against past market data — no orders are placed |
| Walk-forward | Backtesting in time-ordered slices, so every result is measured on data the settings never saw |
| Sharpe / Sortino | Risk-adjusted return measures — how much return you earned for the ups and downs you endured (Sortino counts only the downward swings) |
| Max drawdown | The biggest drop from a high point to the low that followed, over a period |
| CAGR | Compound annual growth rate — the smoothed yearly return |
| Idempotent order | An order tagged with a fixed ID (the client_order_id), so the broker treats any resubmission as the same order — a retry can never buy twice |
| Tax-loss harvesting (TLH) | Selling a losing lot to realize the loss for tax purposes — lots flag their eligibility in the Positions detail |
| DRIP | Dividend reinvestment — flagged per lot where it applies |