Z-Score, in a trading context, measures how non-random the sequence of wins and losses is. The math compares the number of streaks the strategy actually produced to the number you would expect if the same wins and losses had been shuffled at random, then expresses the gap as a standardized number.
A z-score near zero is the signal that wins and losses arrived in an order indistinguishable from chance. A large positive z-score says wins cluster with wins and losses cluster with losses: the strategy has streaks. A large negative z-score says wins and losses alternate more than random chance would predict: the strategy oscillates.
Neither is automatically good or bad. Streakiness changes how the equityEquityThe live value of your broker account, including the floating profit or loss of open positions.Click the word to learn more curve feels, not whether it ends up higher. A strongly positive z-score means you will experience visible runs in both directions, and the lived experience is one of momentum: when it works, it works, and when it slips, it slips for a while. A negative z-score means the chop is unusually regular, which can feel reassuring even though the end state is the same.
Javlot exposes z-score on the strategy page because the experience of running a strategy is not only about the end state. Knowing the streak profile up front lets you decide whether you can sit through it.