The best risk adjusted result on the site belongs to CTVA, not NVDA
Divide each study-ticker result's return by its own max drawdown and NVDA, the name behind most of this site's biggest headline numbers, does not win. Corteva under Williams %R reversal does, 112.78 percent on a 10.69 percent drawdown, and the same ticker is a flop almost everywhere else it is tracked.
Corteva, ticker CTVA, returned 112.78 percent under Williams %R reversal across 25 trades in Tenachine's ten year window, and the strategy's own max drawdown along the way was 10.69 percent. Divide the first number by the second, a calmar ratio of 1.35, and no other study-ticker pairing on this site with at least 5 trades and a drawdown of at least 1 percent scores higher. Williams %R reversal is also the study behind AMD's 308.45 percent, this site's best per-ticker return backed by more than a handful of trades. CTVA is a different ticker under the same study, and a different kind of best result.
Calmar ratio is not a figure Tenachine has published in guide form before. It sits in the same per-ticker metrics block as return and drawdown themselves, one line among a dozen, and it answers a narrower question than either number alone: how much return showed up for each unit of drawdown a trader actually had to sit through. CTVA's buy and hold return over the same window was 111.41 percent, almost identical to the strategy's 112.78 percent. Williams %R reversal did not beat simply holding CTVA by much on return. It matched buy and hold while keeping the worst drawdown to 10.69 percent, a number this data has no way to compute for the buy and hold line itself, but which the strategy's own trade sequence shows directly.
Why the raw ranking needs a floor first
Sort every study-ticker pairing on this site by calmar ratio with no floor at all and CTVA does not lead. PCG under RSI mean reversion tops that unfiltered list at 18.70, built on 2 trades and a max drawdown of 0.02 percent, a number so small it is closer to rounding error than to risk. GM under the same study sits second at 10.95, on 4 trades and a 0.05 percent drawdown. Across every study, 2,386 study-ticker pairings carry a calmar ratio, and 295 of them, about 1 in 8, rest on fewer than 5 trades or a drawdown under 1 percent, the kind of thin sample that can push a ratio to an extreme without the underlying result meaning much. Filtering those out is the same discipline Tenachine's guide on AMD's Williams %R result applied when it set NVDA's single trade result aside before naming a winner. CTVA's 25 trades and 10.69 percent drawdown clear that floor by a wide margin, which is why it is the ranking's real leader rather than an artifact sitting at the top of an unfiltered list.
The same ticker is a flop almost everywhere else
CTVA appears among the five best or five worst tickers in its sector in 13 of this site's 22 studies. In 10 of those 13, it is a flop, not a top performer, with a calmar ratio of exactly 0.00 in most of them because the strategy lost money on CTVA outright. Under ADX trend breakout it lost 12.07 percent. Under MA crossover 20/50 it lost 40.65 percent, the worst of the group. Williams %R reversal is one of only three studies where CTVA shows up as a top ticker at all, alongside a 0.25 calmar ratio under Bollinger squeeze breakout and a 0.16 under NR7 volatility breakout, neither close to the 1.35 it posts here. The stock did not become a good result because of anything specific to Corteva. One strategy, applied to one ticker, over one window, produced a result that eleven other strategies applied to the same ticker did not come close to matching.
That is worth sitting with before reading calmar ratio, or any single ratio, as a verdict on a stock rather than on one strategy's fit with one ticker's price path. Tenachine's guide on risk to reward ratios makes a related point from the opposite direction, a strategy that wins most of its trades can still carry a losing risk to reward ratio. Here the same ticker carries opposite outcomes depending entirely on which strategy is asking the question.
This is not a reason to buy Corteva or to run Williams %R reversal specifically because of this one result. The calmar ratio is computed from a fixed historical window and a specific set of trade rules, not a forecast, and past performance here describes what already happened to this universe over this period, nothing about what happens next. What it does show is that the biggest number on a leaderboard, whether that leaderboard is sorted by raw return or by a risk adjusted ratio, is not always attached to the ticker a reader would guess. NVDA carries this site's largest raw gains. It does not carry the best result once drawdown enters the calculation.