Today's number
At the close on 2026-08-01, 23 of 481 stocks ZEME phases were sitting in LOADING - that is 4.8% of the market it covers today.
That is the live count. On its own it means nothing, so here is what that phase has actually done, measured over the whole research panel:
| measured | |
|---|---|
| next-session lock rate for LOADING | 3.614% |
| the base rate on the SAME definition | 3.421% |
| lift | 1.06x |
| sample | 34,170 stock-sessions |
How to read this without over-reading it
The lift says this phase locks more or less often than the market's own average on one definition, over one window. It says nothing about return, nothing about cost, and nothing about any individual stock in today's 23.
A lock rate above the base is not a profit: a hold that gains less than the 3.04 pp round trip is a losing trade with a flattering statistic attached (ZEME-301 lesson 4 measures exactly that).
Counterargument - the phase label is assigned by our own engine, so this partly measures the consistency of our labelling rather than a market truth. And a live count on a single session is a snapshot; it carries no sample size of its own.
Evidence - where every number came from
Every figure in this lesson is listed below with its definition, its sample size, its window and the exact query that produced it, so you can re-run it rather than take our word for it.
phase_lock_LOADING = 3.614% (n = 34,170)
- what it is: next-session lock rate for liquid stocks in Campaign Phase LOADING. research panel column
locked_next- a threshold flag, NOT the cap rule. Its liquid base rate is ~3.42%, not ~0.98%. Never compare a number computed on this flag with one computed on the cap rule. - window: 2016-01-01..2026-07-30
- source: zeme_uat_panel.parquet
- how it was computed (pandas over the panel, not SQL):
``text GROUP BY camp_phase over liquid panel rows: 100*AVG(locked_next) per phase, and the same figure over all phases as the base rate. ``
phase_base = 3.421% (n = 668,811)
- what it is: the base rate every phase lift below is measured against. research panel column
locked_next- a threshold flag, NOT the cap rule. Its liquid base rate is ~3.42%, not ~0.98%. Never compare a number computed on this flag with one computed on the cap rule. - window: 2016-01-01..2026-07-30
- source: zeme_uat_panel.parquet
- how it was computed (pandas over the panel, not SQL):
``text GROUP BY camp_phase over liquid panel rows: 100*AVG(locked_next) per phase, and the same figure over all phases as the base rate. ``
phase_lift_LOADING = 1.06x (n = 34,170)
- what it is: that rate divided by the panel base rate on the SAME definition
- window: 2016-01-01..2026-07-30
- source: zeme_uat_panel.parquet
- how it was computed (pandas over the panel, not SQL):
``text GROUP BY camp_phase over liquid panel rows: 100*AVG(locked_next) per phase, and the same figure over all phases as the base rate. ``
round_trip_cost = 3.04 pp (n = not measured)
- what it is: assumed all-in cost of one buy plus one sell, in percentage points
- window: constant
- source: reference_backtest_methodology
- note: an ASSUMPTION, not a measurement - it is the one number on this page that was not derived from the panel
- how it was computed (pandas over the panel, not SQL):
``text fixed house assumption, [[reference_backtest_methodology]] D2 ``
ZEME Academy is educational analysis of Pakistan Stock Exchange data. It is not investment advice, not a recommendation, and not a solicitation to trade. Every number here is measured history, and history is not a forecast. ZEME is not SECP-registered.