Convexa Daily seeks to preserve the public history of the strategy and its analytical publications in an accurate, transparent and reproducible form.
Errors may occur in source data, calculations, editing or technical presentation. This policy explains how Convexa Daily handles such situations.
1. Core Principle
A material error should be corrected.
At the same time, historical publications should not be silently altered in a manner that prevents readers from understanding what was previously published.
Convexa Daily follows the principle:
correct the error without erasing the history of the error.
2. What Constitutes a Correction
A correction is a change to previously published information resulting from an identified error or material inaccuracy.
It may relate to:
- strategy return;
- benchmark;
- portfolio value;
- date;
- numerical metric;
- table;
- source;
- title;
- analytical fact;
- event description;
- link;
- technical presentation.
3. Material and Non-Material Changes
Convexa Daily distinguishes:
Non-Material Editorial Corrections
These may include:
- typographical errors;
- punctuation;
- spelling;
- obvious stylistic mistakes;
- formatting errors;
- broken links;
- visual defects that do not change the meaning.
Such changes may be corrected without a separate public notice if they do not alter substantive information.
Material Corrections
These include changes capable of affecting the reader’s understanding, including:
- performance;
- benchmark;
- calculation;
- source market data;
- date;
- source;
- factual event;
- analytical conclusion based on an incorrect fact;
- incorrect attribution of a result to a period.
Material corrections should be explicitly recorded.
4. Financial Metrics
Corrections to previously published performance require particular care.
If an error is identified in:
- Convexa return;
- SPY return;
- NAV;
- P&L;
- cash flow;
- weekly return;
- monthly return;
- since-inception return;
Convexa Daily should preserve the ability to determine:
- the value originally published;
- the corrected value;
- the relevant period;
- the correction date;
- the reason for the correction.
5. Source of Truth for Performance
Where sources conflict, priority is determined according to the Performance Methodology.
For actual strategy performance, the primary source is confirmed brokerage information together with the applicable calculation methodology.
A visual screenshot or interim broker interface value may be superseded by a final official value where the latter clearly represents the more reliable source for the same period.
If this affects a published result, the change should not be hidden.
6. Publication Versions
Convexa Daily may retain multiple versions of the same issue.
Where a published issue is later corrected:
- the new version becomes the current public version;
- the prior version remains in internal or public history;
- the technical system should permit reconstruction of the version sequence.
A prior publication should not be deleted merely to conceal an error.
7. Immutable Records
Where the technical system stores an immutable PublicationVersion or equivalent snapshot, that record should not be edited retroactively.
A correction creates a new version.
The previous snapshot remains part of the historical record.
8. Daily Performance Archive
The Daily Performance Archive should reflect confirmed published values.
Where a historical daily return is corrected:
- the prior value should not disappear without record;
- the correction should be recorded;
- dependent aggregate statistics should be recalculated where appropriate.
This may affect:
- weekly return;
- monthly return;
- counters;
- benchmark comparison;
- since-inception statistics.
9. Derived Metrics
Where an underlying daily figure is corrected, dependent metrics may be recalculated automatically.
Such changes are consequences of the original correction rather than independent errors.
For example:
a corrected Daily Return may change Weekly Return and Monthly Return.
The record should make clear that the aggregate change resulted from the correction to the underlying daily observation.
10. Benchmark Corrections
Benchmark data is subject to the same correction principles as strategy performance.
If SPY was calculated:
- over the wrong period;
- using an incorrect date;
- using an inconsistent methodology;
- using an incorrect source value;
the benchmark should be corrected and related aggregates updated.
Convexa Daily should not change the benchmark solely to improve or worsen the visual comparison with the strategy.
11. Analytical Facts
If a factual statement in Technical, Fundamental, Volatility or Risk Map analysis is later found to be incorrect, it may be corrected.
A material correction should be identified, particularly where the incorrect fact affected the principal analytical conclusion.
12. Change of View Is Not a Correction
A later change in analytical judgment resulting from new information does not mean that the earlier publication was erroneous.
For example:
- market conditions changed;
- new economic data was released;
- volatility changed;
- a company issued new results;
- a regulator issued a new statement.
In such cases the original analysis remains a record of its time and the updated view should appear in a subsequent publication.
13. Revisions to Official Data
Where a government agency or other primary source later revises a previously reported figure, Convexa Daily is not required to rewrite the original analytical publication.
The historical issue may retain the value that was known when the issue was prepared.
A later issue may discuss the revision where relevant.
14. Technical Errors
Display errors that do not change underlying data may be corrected without changing substantive content.
Examples include:
- broken tables;
- incorrect line breaks;
- layout width;
- font problems;
- responsive-layout defects.
If a technical error creates a materially misleading representation of the data, the correction should be treated as substantive.
15. PDF and Broker Documents
Original documents published under Reports & Documents should not be substantively modified by Convexa Daily.
If an original PDF must be replaced:
- the prior file should be retained;
- the new version should be separately identified;
- the reason for replacement should be understandable.
Where documents are moved technically, file identity should preferably be preserved, including checksum where practical.
16. Correction Date
Material corrections should record the date on which the correction was made.
Where appropriate, time may also be recorded.
17. Reason for Correction
The reason should be stated briefly and factually.
Examples include:
- incorrect benchmark window;
- source data correction;
- calculation error;
- incorrect date;
- transcription error;
- broker statement update.
Avoid vague language that obscures the nature of the error.
18. Visibility of Corrections
Not every correction requires a prominent homepage notice.
Depending on materiality, Convexa Daily may use:
- a Corrected label;
- a short correction note;
- a changelog;
- a version-history entry;
- an archive notation.
Visibility should be proportionate to the significance of the correction.
19. Corrections Log
Convexa Daily may maintain a public log of material corrections.
Each entry may contain:
- original publication date;
- affected section;
- original value or statement;
- corrected value or statement;
- correction date;
- brief reason.
Where no material corrections exist, there is no need to publish an empty log.
20. Independence of Corrections
Whether a correction improves or worsens reported strategy performance should not affect the decision to correct an error.
Errors favorable to Convexa should be corrected under the same principles as errors unfavorable to Convexa.
21. No Retrospective Optimization
Convexa Daily should not retrospectively change:
- methodology;
- benchmark;
- comparison period;
- result classification;
simply because an alternative approach would appear more favorable after the outcome is already known.
Where methodology changes, the new methodology should be introduced transparently with an effective date.
22. Methodology Changes
A material change in Performance Methodology should:
- be dated;
- receive a new version;
- explain what changed;
- not silently replace the prior methodology.
If a new methodology is applied retrospectively, that fact should be expressly disclosed.
23. Historical Reproducibility
Convexa Daily seeks to retain enough information to establish:
- what issue was published;
- which version was public;
- what data was used;
- what benchmark was applied;
- what corrections were later made.
24. Limitation
Even with this policy, Convexa Daily does not guarantee immediate identification of every error.
Some errors may be discovered substantially later.
The commitment to transparency means reasonable correction after discovery, not a guarantee of perfect error-free publication.
25. General Principle
The historical value of Convexa Daily depends not only on performance results but also on confidence in the integrity of the record.
Convexa Daily therefore favors openly correcting an error, even where doing so worsens the published result, rather than silently altering historical information.