{
  "version": "illustrative-monitor/1.0.0",
  "illustrative": true,
  "input_identity": {
    "schema": "monitoring-example/1",
    "model_id": "SYNTHETIC-MONTHLY-RESEARCH",
    "model_version": "example-1.0"
  },
  "as_of": "2024-09-02T12:00:00Z",
  "last_updated": "2024-09-01T12:00:00Z",
  "quality": {
    "expected_count": 20,
    "observed_count": 20,
    "unique_count": 20,
    "duplicate_dates": [],
    "missing_dates": [],
    "unexpected_dates": [],
    "age_hours": 24,
    "null_feature_count": 0,
    "null_feature_share": 0,
    "null_model_return_count": 0,
    "null_model_return_share": 0,
    "null_benchmark_return_count": 0,
    "null_benchmark_return_share": 0
  },
  "drift": {
    "available": true,
    "reason": null,
    "reasons": [],
    "observed_subset": false,
    "baseline_count": 20,
    "current_count": 20,
    "baseline_mean": 2.7755575615628914e-17,
    "baseline_sample_sd": 1.0513149660756935,
    "current_mean": 0.6799999999999999,
    "standardized_mean_shift": 0.6468090172237124,
    "psi": 0.2024989980424936,
    "bins": [
      {
        "lower": null,
        "upper": -1,
        "baseline_count": 4,
        "current_count": 2,
        "p": 0.20454545454545456,
        "q": 0.11363636363636363,
        "contribution": 0.05343515135473813
      },
      {
        "lower": -1,
        "upper": 0,
        "baseline_count": 6,
        "current_count": 4,
        "p": 0.29545454545454547,
        "q": 0.20454545454545456,
        "contribution": 0.03342952546593794
      },
      {
        "lower": 0,
        "upper": 1,
        "baseline_count": 6,
        "current_count": 6,
        "p": 0.29545454545454547,
        "q": 0.29545454545454547,
        "contribution": 0
      },
      {
        "lower": 1,
        "upper": null,
        "baseline_count": 4,
        "current_count": 8,
        "p": 0.20454545454545456,
        "q": 0.38636363636363635,
        "contribution": 0.11563432122181755
      }
    ]
  },
  "performance": {
    "available": true,
    "reason": null,
    "reasons": [],
    "periods_count": 20,
    "model_cumulative_return": 0.11920899736601753,
    "benchmark_cumulative_return": 0.09765626966764684,
    "cumulative_return_difference": 0.02155272769837069,
    "mean_active_return": 0.001,
    "tracking_error": 0.009403246919632546,
    "max_drawdown": -0.01200000000000001,
    "benchmark_max_drawdown": -0.009000000000000119,
    "wealth_path": [
      {
        "date": null,
        "model_wealth": 1,
        "benchmark_wealth": 1,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2023-01-31",
        "model_wealth": 1.012,
        "benchmark_wealth": 1.01,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2023-02-28",
        "model_wealth": 1.003904,
        "benchmark_wealth": 1.00394,
        "drawdown": -0.008000000000000118,
        "benchmark_drawdown": -0.006000000000000005
      },
      {
        "date": "2023-03-31",
        "model_wealth": 1.0229781759999999,
        "benchmark_wealth": 1.0189991,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2023-04-30",
        "model_wealth": 1.029116045056,
        "benchmark_wealth": 1.0240940955,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2023-05-31",
        "model_wealth": 1.017795768560384,
        "benchmark_wealth": 1.015901342736,
        "drawdown": -0.01100000000000001,
        "benchmark_drawdown": -0.008000000000000007
      },
      {
        "date": "2023-06-30",
        "model_wealth": 1.0350982966259104,
        "benchmark_wealth": 1.0280921588488319,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2023-07-31",
        "model_wealth": 1.0444141812955434,
        "benchmark_wealth": 1.0363168961196225,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2023-08-31",
        "model_wealth": 1.0402365245703613,
        "benchmark_wealth": 1.0332079454312637,
        "drawdown": -0.0039999999999998925,
        "benchmark_drawdown": -0.0030000000000000027
      },
      {
        "date": "2023-09-30",
        "model_wealth": 1.0547998359143465,
        "benchmark_wealth": 1.0445732328310076,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2023-10-31",
        "model_wealth": 1.0579642354220893,
        "benchmark_wealth": 1.0487515257623317,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2023-11-30",
        "model_wealth": 1.0505584857741346,
        "benchmark_wealth": 1.04350776813352,
        "drawdown": -0.007000000000000117,
        "benchmark_drawdown": -0.004999999999999893
      },
      {
        "date": "2023-12-31",
        "model_wealth": 1.0726202139753913,
        "benchmark_wealth": 1.0602038924236563,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2024-01-31",
        "model_wealth": 1.0779833150452682,
        "benchmark_wealth": 1.0665651157781983,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2024-02-29",
        "model_wealth": 1.065047515264725,
        "benchmark_wealth": 1.0569660297361945,
        "drawdown": -0.01200000000000001,
        "benchmark_drawdown": -0.009000000000000119
      },
      {
        "date": "2024-03-31",
        "model_wealth": 1.08421837053949,
        "benchmark_wealth": 1.0717635541525012,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2024-04-30",
        "model_wealth": 1.0918078991332665,
        "benchmark_wealth": 1.0771223719232637,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2024-05-31",
        "model_wealth": 1.085257051738467,
        "benchmark_wealth": 1.0728138824355706,
        "drawdown": -0.005999999999999894,
        "benchmark_drawdown": -0.0040000000000000036
      },
      {
        "date": "2024-06-30",
        "model_wealth": 1.1026211645662825,
        "benchmark_wealth": 1.0856876490247975,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2024-07-31",
        "model_wealth": 1.1070316492245476,
        "benchmark_wealth": 1.0889447119718718,
        "drawdown": 0,
        "benchmark_drawdown": 0
      },
      {
        "date": "2024-08-31",
        "model_wealth": 1.1192089973660175,
        "benchmark_wealth": 1.0976562696676468,
        "drawdown": 0,
        "benchmark_drawdown": 0
      }
    ]
  },
  "alerts": [
    {
      "code": "psi_review",
      "severity": "review",
      "message": "Descriptive PSI meets the illustrative review threshold.",
      "metric": "psi",
      "value": 0.2024989980424936,
      "threshold": 0.1
    }
  ],
  "status": "review",
  "definitions": {
    "psi": "Sum (q-p) \u00d7 ln(q/p) using fixed bins and declared positive additive smoothing; descriptive, not significance or concept-drift proof.",
    "standardized_mean_shift": "Current nonmissing mean minus baseline mean, divided by baseline sample SD (N\u22121).",
    "bin_boundaries": "Left-inclusive, right-exclusive; null lower/upper indicate infinite tails.",
    "null_shares": "Null cell count divided by observed rows, including duplicates; null when no rows exist.",
    "age_hours": "Declared as_of minus last_updated in hours; not observation age or verified execution freshness.",
    "cumulative_returns": "Product of (1+period return) minus 1 over the complete declared window.",
    "tracking_error": "Sample SD (N\u22121) of paired arithmetic active returns \u00d7 sqrt(periods_per_year).",
    "max_drawdown": "Minimum wealth/running_peak\u22121 including initial wealth/peak 1.",
    "cumulative_return_difference": "Model cumulative return minus benchmark cumulative return; neither summed active return nor alpha.",
    "inclusive_thresholds": "PSI and drawdown comparisons use 8 machine epsilons times max(1, absolute operands) solely for floating-point boundary rounding. Freshness uses strict greater-than."
  },
  "assumptions": {
    "synthetic_data": "Bundled fixtures are invented; imported data are not independently verified.",
    "thresholds": "Illustrative selected policy only, not regulatory requirements or Vector Ridge production controls.",
    "policy": {
      "psi_review": 0.1,
      "psi_escalate": 0.25,
      "stale_hours_review": 48,
      "drawdown_review": 0.1
    },
    "periods_per_year": 12,
    "smoothing_alpha": 0.5,
    "bin_edges": [
      -1,
      0,
      1
    ],
    "period_dates": "Period keys, not release timestamps.",
    "performance_scope": "No Sharpe ratio, alpha, significance, transaction-cost adjustment or control certification."
  }
}