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      "oos_tstat": -1.2561978786964911,
      "oos_pvalue": 0.20905815449822152,
      "oos_top_quintile_bps": 0.004446449097187091,
      "oos_bottom_quintile_bps": 0.5832324158538054,
      "wf_mean_bps": -0.2049972858001928,
      "wf_positive_fold_pct": 0.2
    }
  ],
  "stress_utility": [
    {
      "horizon": "30m",
      "n_oos": 21085,
      "threshold_abs_z": 1.1784468008332283,
      "stress_share": 0.10002371354043159,
      "abs_move_stress_bps": 16.35932552785475,
      "abs_move_nonstress_bps": 13.763824989942878,
      "stress_ratio": 1.1885740729636118,
      "downmove_stress_pct": 0.4575628259838786,
      "downmove_nonstress_pct": 0.4815556492411467
    },
    {
      "horizon": "1h",
      "n_oos": 19333,
      "threshold_abs_z": 1.2168835226535526,
      "stress_share": 0.10003620752081932,
      "abs_move_stress_bps": 23.319279393718215,
      "abs_move_nonstress_bps": 19.294759070083444,
      "stress_ratio": 1.208581009434567,
      "downmove_stress_pct": 0.44260599793174765,
      "downmove_nonstress_pct": 0.4695097419391919
    },
    {
      "horizon": "2h",
      "n_oos": 15829,
      "threshold_abs_z": 1.298619050161864,
      "stress_share": 0.10000631751847874,
      "abs_move_stress_bps": 31.73732468879207,
      "abs_move_nonstress_bps": 28.10519416221252,
      "stress_ratio": 1.129233425879084,
      "downmove_stress_pct": 0.43461781427668983,
      "downmove_nonstress_pct": 0.4543029622350133
    },
    {
      "horizon": "EOD",
      "n_oos": 22837,
      "threshold_abs_z": 1.2170223669236473,
      "stress_share": 0.10001313657660814,
      "abs_move_stress_bps": 37.86276188399453,
      "abs_move_nonstress_bps": 31.192635263583803,
      "stress_ratio": 1.213836585592941,
      "downmove_stress_pct": 0.4098073555166375,
      "downmove_nonstress_pct": 0.48231401741838176
    }
  ],
  "verdict": "REJECT",
  "verdict_rationale": "Neither directional nor stress-filter edge is strong enough OOS."
}