For a quantitative analyst building an alpha ramp for an earnings strategy:
The slope of the ramp ($S$) in the event window $[T_start, T_event]$: $$S = \frac\overline\alpha T event - \overline\alpha T startT_event - T_start$$ alpha ramp
The Evolution of 21st Century Acquisition and Logistics Reform - DTIC For a quantitative analyst building an alpha ramp
Not every project has a real product behind the ramp. alpha ramp
While the alpha ramp can be a source of consistent excess returns, its shape is not static – it evolves with market efficiency, competition, and liquidity. Practitioners must regularly re-estimate ramps and adapt their strategies to avoid the “alpha erosion” that afflicts most published anomalies.