How it works
A backtest produces one equity curve, but that curve is only one of many paths the same strategy could have taken. The bootstrap cuts the strategy's daily returns into 20-day blocks, shuffles the blocks into 500 new histories of the same length, and computes CAGR and maximum drawdown for each. Quant Arena shows the range that covers the middle 90% of those paths, and the share of paths that ended with a loss. Blocks rather than single days keep trends and volatile stretches together.
How to read it
A narrow interval means the result came from many similar days and is less likely to be luck. A wide interval — for example a CAGR range of −5% to +30% — means a few lucky or unlucky stretches drove the outcome. Compare the lower end of the CAGR range across strategies rather than the single headline number, and treat the drawdown range as a realistic worst case: the drawdown you live through can easily be deeper than the one the backtest happened to show. The bootstrap still assumes the future looks like the past; it does not account for regime changes or overfitting.