Recomputing Collective2 Calmar ratios on four strategy pages yields mismatches; profit factors mostly hold

A developer tried to reproduce the Calmar ratios and profit factors published on four Collective2 strategy pages using the figures each page shows. Profit factors for three of the four pages matched their recalculated values within about 3%, while one differed by roughly 15%. None of the four Calmar ratios matched the recomputed values, with the published figures running between 1.21 and 1.53 times higher. The author says the variation suggests a platform-side difference in how the metric is defined rather than deliberate misrepresentation, but could not confirm the cause without trade-level data or an equity curve. The check was limited to four pages from a single day, and the author notes it says nothing about future performance.