How to read them
A beta of 1 means the strategy moves one-for-one with buy-and-hold on the same asset; 0.3 means it carries about a third of the market's moves, typically because it is often in cash. Positive alpha means the timing added return beyond what that exposure would explain. Quant Arena computes both against buy-and-hold of the same market, and also reports correlation, the information ratio and up- and down-capture.
Up and down capture
Up capture is the strategy's average return on days the market rose, divided by the market's average gain on those days; down capture does the same for falling days. The ideal timing strategy keeps up capture high and down capture low.