{
 "slug": "size-effect",
 "groups": 10,
 "as_of": "2026-05-31",
 "n_months": 89,
 "avg_per_group": 447.0,
 "base": {
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  "tr": 22.0,
  "te": 13.1
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 "spread": {
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  "t_stat": -2.07,
  "win_rate": 37.0,
  "ann_top_minus_bottom": -20.6
 },
 "size_neutral_ann": -6.8,
 "monotonic_spearman": -0.91,
 "yearly": [
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   "top_ex": -0.1,
   "bot_ex": 7.8
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   "bot_ex": -4.1
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   "bot_ex": 36.0
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  {
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   "bot_ex": 8.6
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  {
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  {
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  {
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   "bot_ex": 34.5
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  {
   "year": 2026,
   "top_ex": 15.9,
   "bot_ex": -16.2
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 ],
 "nav": {
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