URI
United Rentals, Inc.
stock NYSE

Recently, I've been using a quantitative platform that allows you to avoid all the building quant infrastructure, and it generates reports of the strategies and the best trials you get based on probabilistic chart ratio, deflated chart ratio, et cetera. Can you please review my strategy and tell me how would you qualify it, and what would you change?
Also, what more information does an investor need to really believe in investing in this strategy?
_Investment report_
# positive_skew_select — Trial 118
**US Equity** · **Simulated**
- **Organization:** Fintela
- **Report date:** Aug 21, 2026
- **Data through:** Aug 13, 2026
- **Period:** Aug 2021 – Aug 2026
- **Reference:** Trial 118 · positive_skew_select · spy500 (2)
## About this report
> **Simulated** — Performance is simulated. The out-of-sample period (marked on the chart) shows results on market data the strategy was never trained on — the closest proxy to live performance. Past performance is not indicative of future results.
## Summary
_Grade B · 70/100_
Grade B · exceptional risk-adjusted returns · well-contained drawdowns.
| Metric | Value |
| --- | ---: |
| Annualized | +22.8% |
| Sharpe | 3.57 |
| Max drawdown | 7.9% |
| Volatility | 19.8% |
| Overfitting (PBO) | 52.0% |
Performance. Over Aug 2021 – Aug 2026, the portfolio returned +179.3% in total, compounding at +22.8% per year. That outpaces its benchmark (S&P 500 (SPY) +13.2% per year, +85.8% total). Its best month gained +14.8% (Nov 2023) and its worst lost -9.2% (Jan 2022). On out-of-sample data the strategy never trained on, it returned +40.5% at a Sharpe of 3.57 — the closest proxy to live performance.
Risk. On a risk-adjusted basis the portfolio delivers exceptional risk-adjusted returns (Sharpe 3.57). Its deepest peak-to-trough decline was 7.9% — well-contained drawdowns. Annualized volatility of 19.8% reflects moderate volatility. A beta of 0.91 to S&P 500 (SPY) makes it roughly as sensitive as the broad market. Robustness screening finds an elevated overfitting risk (backtest-overfitting probability 52.0%).
Outlook. The book currently holds 5 positions, led by GRMN (20.0%), PLTR (20.0%), PYPL (20.0%). Its top three holdings make up 60.0% of gross exposure, leaving it highly concentrated. Weighing return, risk, drawdown and robustness together, this portfolio earns an overall grade of B (70/100), a profile that holds up well across dimensions. These figures are simulated; past performance is not indicative of future results.
## Performance
_Portfolio vs benchmark, both starting at $100,000_
$279,322 — what $100,000 invested at the start would be worth today. The same amount in S&P 500 (SPY): $185,839 (+86%).
## Out-of-sample track record
_Since Feb 2026_
| Metric | Value |
| --- | ---: |
| Return | +40.5% |
| Sharpe | 3.57 |
| Max drawdown | 7.9% |
_Performance on data the strategy was never trained on — the closest available proxy to live results._
## Headline figures
| Metric | Value | Context |
| --- | ---: | --- |
| Total return | 179.3% | S&P 500 (SPY) +85.8% |
| Annualized (CAGR) | 22.8% | S&P 500 (SPY) +13.2% |
| Max drawdown | 7.9% | worst peak-to-trough decline |
| Sharpe ratio | 3.57 | return per unit of risk |
## Versus the market
_Measured against S&P 500 (SPY)_
| Metric | Value |
| --- | ---: |
| Alpha | 0.093 |
| Beta | 0.914 |
| Up capture | 93.6% |
| Down capture | 83.4% |
| Correlation | 0.745 |
## Composition
_As of Aug 13, 2026_
| Symbol | Side | Weight | Change |
| --- | --- | ---: | ---: |
| GRMN | LONG | 20.0% | +0.00 pp |
| PLTR | LONG | 20.0% | +0.00 pp |
| PYPL | LONG | 20.0% | +0.00 pp |
| TECH | LONG | 20.0% | +0.00 pp |
| ZBRA | LONG | 20.0% | +0.00 pp |
_Sector allocation_
| Bucket | Gross | Net |
| --- | ---: | ---: |
| Technology | 60.0% | +60.0% |
| Financial Services | 20.0% | +20.0% |
| Healthcare | 20.0% | +20.0% |
_Asset type_
| Bucket | Gross | Net |
| --- | ---: | ---: |
| Common Stock | 100.0% | +100.0% |
## Traded assets — full history
_230 assets · 583 trades_
| Symbol | trades | Contribution |
| --- | ---: | ---: |
| SMCI | 4 | +8.3% |
| DDOG | 7 | +6.9% |
| META | 7 | +6.7% |
| CHRW | 3 | +5.7% |
| ULTA | 8 | +5.6% |
| DVA | 4 | +4.7% |
| MSFT | 2 | +4.7% |
| ROST | 8 | +4.7% |
| QCOM | 2 | +4.4% |
| IT | 6 | +4.2% |
| SATS | 6 | +4.0% |
| ANET | 1 | +3.6% |
| CIEN | 9 | +3.1% |
| SNPS | 3 | +3.0% |
| PLTR | 3 | +3.0% |
| DELL | 5 | +2.8% |
| DLTR | 5 | +2.7% |
| ERIE | 2 | +2.7% |
| AOS | 3 | +2.7% |
| LYV | 5 | +2.6% |
| VRT | 2 | +2.6% |
| VEEV | 7 | +2.5% |
| PYPL | 2 | +2.4% |
| NVDA | 2 | +2.4% |
| AXON | 8 | +2.4% |
| CVNA | 2 | +2.4% |
| OXY | 4 | +2.2% |
| VRTX | 4 | +2.2% |
| PFE | 1 | +2.2% |
| TXN | 2 | +2.1% |
| KEYS | 1 | +2.1% |
| DOC | 1 | +2.0% |
| WDAY | 6 | +2.0% |
| FTNT | 1 | +2.0% |
| MKC | 1 | +2.0% |
| TPL | 1 | +1.9% |
| INTC | 1 | +1.9% |
| BIIB | 1 | +1.8% |
| URI | 1 | +1.8% |
| WSM | 5 | +1.8% |
| DE | 1 | +1.7% |
| CRWD | 1 | +1.7% |
| SNA | 1 | +1.7% |
| HPQ | 2 | +1.6% |
| LULU | 7 | +1.6% |
| PWR | 2 | +1.6% |
| GILD | 1 | +1.6% |
| GM | 4 | +1.6% |
| LMT | 3 | +1.6% |
| FIX | 2 | +1.5% |
| TGT | 6 | +1.5% |
| GDDY | 3 | +1.5% |
| LUV | 1 | +1.5% |
| MNST | 2 | +1.5% |
| GRMN | 8 | +1.4% |
| FAST | 1 | +1.4% |
| SJM | 2 | +1.4% |
| STT | 2 | +1.3% |
| SBUX | 2 | +1.3% |
| VZ | 3 | +1.3% |
| TTWO | 4 | +1.3% |
| PANW | 3 | +1.3% |
| TPR | 5 | +1.2% |
| JBL | 2 | +1.2% |
| MCHP | 1 | +1.2% |
| CTVA | 3 | +1.1% |
| HUM | 2 | +1.1% |
| CI | 1 | +1.1% |
| DXCM | 7 | +1.1% |
| REGN | 1 | +1.1% |
| MMM | 1 | +1.1% |
| PKG | 3 | +1.0% |
| EQIX | 1 | +1.0% |
| APD | 2 | +1.0% |
| NOW | 2 | +1.0% |
| IQV | 3 | +1.0% |
| DGX | 2 | +0.9% |
| EA | 2 | +0.9% |
| TJX | 1 | +0.8% |
| HCA | 1 | +0.8% |
| WBD | 3 | +0.8% |
| EBAY | 2 | +0.8% |
| ABNB | 1 | +0.8% |
| BK | 2 | +0.8% |
| RMD | 3 | +0.7% |
| RL | 1 | +0.7% |
| VST | 4 | +0.7% |
| HSIC | 1 | +0.7% |
| CSGP | 1 | +0.7% |
| LVS | 2 | +0.7% |
| NKE | 2 | +0.7% |
| SBAC | 3 | +0.6% |
| HWM | 1 | +0.6% |
| ROL | 6 | +0.6% |
| NRG | 1 | +0.6% |
| GWW | 3 | +0.6% |
| WAT | 3 | +0.6% |
| KMB | 1 | +0.5% |
| TXT | 3 | +0.5% |
| BAC | 1 | +0.5% |
| SHW | 1 | +0.5% |
| WFC | 1 | +0.5% |
| SYF | 2 | +0.5% |
| NOC | 4 | +0.5% |
| JNJ | 1 | +0.5% |
| CMG | 5 | +0.5% |
| MRK | 3 | +0.5% |
| GEN | 3 | +0.4% |
| KR | 3 | +0.4% |
| T | 2 | +0.4% |
| CPRT | 1 | +0.4% |
| ZBRA | 1 | +0.4% |
| VTRS | 1 | +0.4% |
| LEN | 1 | +0.4% |
| TEL | 1 | +0.4% |
| XEL | 1 | +0.3% |
| TSLA | 1 | +0.3% |
| AMCR | 1 | +0.3% |
| TMUS | 2 | +0.3% |
| UHS | 1 | +0.3% |
| ALLE | 1 | +0.3% |
| VMC | 1 | +0.3% |
| BLDR | 1 | +0.3% |
| STE | 3 | +0.3% |
| GD | 2 | +0.3% |
| CTAS | 1 | +0.2% |
| INTU | 3 | +0.2% |
| CINF | 1 | +0.2% |
| PGR | 2 | +0.2% |
| CLX | 1 | +0.2% |
| ECL | 1 | +0.2% |
| AON | 1 | +0.1% |
| A | 1 | +0.1% |
| CVS | 3 | +0.1% |
| EME | 1 | +0.1% |
| DRI | 2 | +0.1% |
| CMCSA | 1 | +0.1% |
| CRM | 3 | +0.1% |
| FOX | 1 | +0.1% |
| INCY | 1 | +0.1% |
| BG | 2 | +0.1% |
| TECH | 2 | -0.0% |
| EMR | 2 | -0.0% |
| WAB | 2 | -0.0% |
| GPN | 2 | -0.0% |
| PM | 3 | -0.0% |
| AVY | 1 | -0.1% |
| STZ | 1 | -0.1% |
| TRV | 1 | -0.1% |
| GLW | 1 | -0.1% |
| CAH | 1 | -0.1% |
| FFIV | 2 | -0.1% |
| EXPD | 1 | -0.1% |
| NFLX | 3 | -0.1% |
| IP | 1 | -0.1% |
| JBHT | 4 | -0.1% |
| WTW | 4 | -0.1% |
| YUM | 1 | -0.1% |
| SCHW | 1 | -0.1% |
| RTX | 1 | -0.2% |
| TKO | 2 | -0.2% |
| CCL | 2 | -0.2% |
| HSY | 1 | -0.2% |
| ADBE | 2 | -0.2% |
| TRMB | 2 | -0.2% |
| PHM | 2 | -0.2% |
| WM | 2 | -0.3% |
| GOOGL | 1 | -0.3% |
| FOXA | 1 | -0.3% |
| HST | 1 | -0.3% |
| DLR | 1 | -0.3% |
| IVZ | 2 | -0.3% |
| PCAR | 2 | -0.4% |
| COHR | 1 | -0.4% |
| ISRG | 5 | -0.4% |
| XYL | 2 | -0.4% |
| EXR | 1 | -0.4% |
| SYY | 5 | -0.4% |
| DIS | 1 | -0.4% |
| CFG | 1 | -0.4% |
| DECK | 4 | -0.5% |
| EQT | 1 | -0.5% |
| BA | 1 | -0.6% |
| FSLR | 3 | -0.6% |
| HPE | 1 | -0.6% |
| AKAM | 2 | -0.7% |
| NXPI | 3 | -0.8% |
| FICO | 3 | -0.8% |
| BR | 1 | -0.8% |
| WST | 2 | -0.9% |
| DPZ | 6 | -0.9% |
| TAP | 1 | -0.9% |
| NTAP | 6 | -0.9% |
| BALL | 6 | -1.0% |
| AMGN | 1 | -1.0% |
| CAT | 1 | -1.1% |
| DG | 2 | -1.2% |
| MCK | 3 | -1.2% |
| COO | 2 | -1.3% |
| HAS | 7 | -1.3% |
| FDX | 2 | -1.3% |
| UPS | 1 | -1.4% |
| HBAN | 1 | -1.5% |
| UNP | 5 | -1.5% |
| KEY | 1 | -1.6% |
| CASY | 5 | -1.7% |
| TSN | 4 | -1.7% |
| PTC | 1 | -1.7% |
| MTD | 3 | -1.8% |
| LHX | 1 | -1.8% |
| V | 3 | -1.9% |
| BBY | 3 | -1.9% |
| GPC | 2 | -1.9% |
| UBER | 2 | -2.0% |
| LLY | 6 | -2.1% |
| HII | 1 | -2.2% |
| PODD | 6 | -2.3% |
| PSKY | 6 | -2.4% |
| AVGO | 1 | -2.6% |
| C | 3 | -2.6% |
| IBM | 4 | -2.7% |
| IDXX | 4 | -3.0% |
| ALGN | 1 | -3.3% |
| OMC | 2 | -3.6% |
| ROK | 5 | -4.4% |
| WDC | 3 | -4.7% |
| TTD | 3 | -5.5% |
| EXPE | 4 | -5.6% |
| MGM | 5 | -6.1% |
| ORCL | 8 | -7.5% |
_Return contribution is each asset’s summed realized P&L as a share of capital. Total realized from closed trades: +96.0%_
## Year by year
_Strategy vs S&P 500 (SPY)_
| Year | Strategy | S&P 500 (SPY) | Excess |
| --- | ---: | ---: | ---: |
| 2021 | +21.9% | +28.7% | -6.9% |
| 2022 | -17.7% | -18.2% | +0.5% |
| 2023 | +40.3% | +26.2% | +14.2% |
| 2024 | +21.0% | +24.9% | -3.9% |
| 2025 | +14.0% | +17.7% | -3.7% |
| 2026 | +43.9% | +12.9% | +31.0% |
## Robustness
Robustness screen: Overfit risk
---
_Hypothetical / simulated performance. These results are derived from a historical simulation and do not represent trading in a live account. Simulated results have inherent limitations: they benefit from hindsight and do not reflect real order execution, slippage, liquidity, or financing costs. Returns are shown gross of fees, which would reduce them. Past performance — actual or simulated — is not indicative of future results. For informational purposes only; not an offer or solicitation to buy any security._

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I work on the assessment side at a smart contract auditing company. This came out of an audit we did on a governance-approved deployment system on a permissioned chain. The system stores metadata for each approved deployment template: a bytecode hash, a storage layout hash, a link to the audit report, and the source repository commit. On paper, every deployed proxy maps back to reviewed and approved code. At deployment time, nothing checks those fields. The factory resolves the implementation live from the beacon, and the beacon owner can publish a new version at any point after the template was registered. The bytecodeHash field is in storage, but no require statement compares it to address.codehash on what actually gets deployed. After the first beacon upgrade, every new deployment runs code that was never part of the original audit, while the template still points at the old audit URI and the old commit.
When we flagged it, the project team didn't start enforcing the hash. They removed the bytecode and storage layout hashes from the template entirely. I'd argue that's more honest than keeping fields that imply verification and deliver none. But what's left is a pipeline where the only governance control is trusting the beacon owner, and the on-chain record of what was audited diverges silently from what's actually running.
Regulators running MiCA compliance assessments or CASP license reviews want to see governance over what gets deployed to production. If your template stores an audit reference and an assessor asks whether it's enforced, "recorded but not checked" puts you in a worse position than having no reference at all. The reference misrepresents what the deployed code went through.
Open your template registry or deployment manifest. Find the field that references the audit or stores a bytecode hash. Grep for it on the deploy path. If the field is written once at registration and never appears in a require or assert during deployment, you have decorative governance metadata. address.codehash exists on-chain. The check is one comparison. Nobody wrote it.
Plenty of governance models handle this off-chain with CI/CD gates, human sign-offs, and change management procedures, and those work for permissioned systems. The gap opens when the on-chain record looks like it provides a guarantee it doesn't, because the next person who reads that template will assume enforcement already happened.
If a MiCA license or VARA license assessor asked you to demonstrate that your template's bytecodeHash is enforced at deployment, could you show them the require statement?