Help with understanding Alpha in Profit Report

[wilbertvdl]

Hi all,

To my understanding, the Alpha metric reflects how a strategy performs against the market but I still have some difficulties interpreting the following:

Profit report
Start balance
0.38469
Current balance
0.41706
Market
0.00087 ETH (2.74146 %)
Profit
0.03237 ETH (8.41522 %)
Alpha
-2.70908 ETH

So initially I would assume that my strategy outperforms the market quite nicely, but I still end up with a negative Alpha.

Can someone please shed some light on this?

Thanks in advance!

Cheers,
Wilbert