Are the backtests done on the respective benchmark indices or the universe defined in the product info ?
Backtest is always based on the defined universe (please watch this video). The indices that the strategies are compared to are the closest equivalent to the market cap universe our strategies are based on.
For example, Mi Allcap is compared to CNX 500 but the actual universe considered for the strategy is all stocks above 1000 Crore market cap.
If you have any further doubts or questions, please send an email to email@example.com