Nice positive alpha, low beta. Sharpe over 1.0. Basic stats look great.
Go under research -> Notebooks
Create a new new notebook
bt = get_backtest('598de084cda64150ec0dd56f') and hit control-enter.
Then type in
bt.create_full_tear_sheet() and hit control-enter again.
That will show you all sorts of analysis on how your algorithm performed.
You can see in the "fama-french factors" it's highly correlated to "momentum" stocks, and highly inverse-correlated to "high growth" stocks. If you want to get an allocation you'd have to create an algorithm without those kinds of correlations.
Looking at drawdown periods you can see the main area where the algorithm doesn't perform so well. It spends most of its time in drawdown periods, meaning that if you started up the algorithm at any of those peaks, you'd have to wait a year or a year and a half before you even broke even again. Most of the time you'd be under water. Looking at the underwater plot you can see deep in losses you'd be in 2016 and 2017 if you'd started the algo up at the end of 2015. That tells us that there's a high likelihood that if we start up the algo today, we're likely to head straight underwater and stay underwater for a long time.
The great thing though is that your algorithm's drawdowns aren't correlated to the stock market's drawdowns.
You can have three algorithms in the contest at any time. If I were you I'd just go ahead and get a horse in the game, so you can see how it performs out-of-sample compared to other algorithms, and then as you improve the algorithms or create betters ones swap out the losers for your more promising entries.
Keep in mind, for the contest it's based on $10m initial capital instead of $1m. That can have a big effect on how well an algorithm performs.