Cognitive Scaffold

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MENTAL MODEL · M10317

Maximum Drawdown

Maximum Drawdown
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Version 1.0.0 · Updated 2026-07-30

CORE DEFINITION

The maximum decline from peak to trough, measuring the maximum loss that an investment or strategy may suffer.

SCAFFOLDING EFFECT

psychology

Reduce cognitive load

A true measure of risk. Average returns may look good, but maximum drawdown tells you "how painful it gets at the worst time"—can you bear it?

anchor

Anchor fast decisions

A financial risk management metric: the maximum decline of an asset's net value from a previous high point to its subsequent low point. The mechanism is the maximum relative loss from peak to trough.

MINIMUM ACTION

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Source support: Explicit

  • link
    en.wikipedia.orghttps://en.wikipedia.org/wiki/Drawdown_%28economics%29ZH · Explicit
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