Underwater time is its own distribution.

Depth and duration

Underwater time is its own distribution.

Depth is only half the drawdown story. The simulation also defines how long recoveries realistically take — how many weeks a path typically spends under its equity peak. A shallow drawdown that refuses to recover can be more structurally informative than a deep one that snaps back.

• Time-under-peak against the modeled distribution catches grinding decay that depth bands miss.
• Gate dwell and drawdown duration are read together: long Recovery dwell with normal depth suggests efficiency problems, not edge loss.
• Recovery velocity feeds the ACCEL metric — the bridge between survival and compounding.

Where it lives

Inside Drawdown Percentiles.

Pulled from the Drawdown Percentiles page so it can be linked, cited, and studied on its own. In the module's words: Simulated drawdown distributions define expected depth, frequency, and duration of underwater periods. A losing stretch inside the bands is variance; a breach of the adverse bands is a structural warning that outranks any green dashboard.