Weekday / Weekend Effect
Time equity (or crypto) exposure by day of week — a calendar leftover that has been mined to death.
Definition
Weekday / Weekend Effect refers to a calendar leftover that has been mined to death. Keep that definition fixed when comparing series, managers, or regimes — renaming the same tape does not create a new signal.
Why it matters
It is a named object desks use to frame risk, positioning, or process. When a calendar leftover that has been mined to death shifts, related hedges, limits, and narratives usually need an explicit update rather than a quiet assumption.
Case
Suppose a desk is positioned for the opposite of what weekday / weekend effect is saying. If a calendar leftover that has been mined to death moves against that book, the first question is not “is the story clever?” but whether size, hedges, and stop logic still match the observation.
How to read it
Keep the definition fixed, then challenge it with cross-checks before sizing. Prefer a short written null hypothesis for Weekday / Weekend Effect: what would falsify the current reading in the next window?