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Outlander - Forgot about compiling standard times - basically since starting to compile timefigures i originally used the last 5 years of data - i only do the Flat and AW and add to that original 5 years of data. So when starting a course i only use Hcap races (pace is generally more genuine and you have the added bonus of having an OR next to each time) - i adjust all raw times to 140lbs and also Class adjust them to a figure of 90 using a constant. After that i run the courses batch of times through some software that omits obvious outliers. I then use Std.Deviation*1.5 around the mean of those times. From that i then use "percentiles" based on distance. It's true that there are more truly run races at 5f than there is at say 12f so the percentiles reflect that decreasing all the time as distance increases. I do a distance at a time starting at the least and working upwards until i have rough standards at all distances at a course. If the sample is low i may go back and take individual times of close up 2nd placed horses and even close up third placed horses. i then look at that set of "rough" standards and the relationships between distances - i may make some manual adjustments here to reflect the relationships. I then run them against the distance range using linear regression looking at the R2 and the std error - again from this i may make some manual adjustments based on the linear regression outputs. After that the last step is to sort from fastest to slowest within each year and give each year a weighting. Originally when i started with the 5 years of data, i used weights of 1.00,0.80,0.60,0.40 & 0.20 for each year from recent to oldest. Again i ran them through some software (R) to achieve a final recency weighted time for each distance. 2nd Final check was again to look at the relationships within each distance - again i may make some small manual adjustments here. Then back to linear regression where through iteration i'm looking to get an R2 of at least 0.95+ . When adding a new years worth of data i repeat the above process just on that years data and compare them to the original standards, particularly looking at the relationships between the times - here i just use correlation (Last year v Original Standards) - usually the correlation is on the high side and i just integrate them into the original data but changing the weights so they are adjusted for recency - a quick linear regression check to make sure the R2 is above 0.95+ and that's about it. Because my standards are adjusted to 10 stone(140lbs) and a BHA 90 rated horse whilst using "percentiles" they are a lot looser than say the RP's but it does not really matter where you pitch your standards - you could adjust them to a 75 horse for example and 126lbs if desired - what matters the most in standards is the time relationships between distances.
What matters the most in the whole timefigure process is the all encompassing Going Allowance -you could have the most accurate standards on the planet but your figures would be all over the place if you cannot "best-fit" the GA - the good thing about using "ability pars" such as Official Ratings or Private Handicap Ratings and having the going in pounds is that when you normalise for weight , maturity etc with "ability" the Total lbs column is what the Going would have to be for that horse to equal it's ability rating.
This part highlighted in Blue with the oversized numbers
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On that day there was a horse with an Ability Rating of 105 - Scriptwriter and when normalised for weight , maturity, lbs above/below standard etc had a total lbs value of 142 - which means for that horse to achieve that ability rating on "time" i would have to make the going allowance 142 - like this
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But look what happens to the other horses 69 rated Man On A Mission has just ran a timefigure of 145 and equalled Frankel!! , 67 rated He's Our Star has ran a 143!! and of course with a Going Allowance of 142 i would have to make the Going Description "Slow" - severely Slow in fact!. Of course i'm jesting here and this would never happen - the point is that "Total lbs" column represents what each horse would need the going allowance to be, to equal it's ability rating (which is assessed after the race btw and not a pre-race figure) therefore the "minimum"in that column is a decent starting point to work from and then it's just a matter of finding the "best fit" around all horses on the card. The 105 rated Scriptwriter actually ran a "raw" 38.67lbs below standard and the race was really a crawl - after normalising for weight , maturity etc he ended up with a measly timefigure of 33, around 72lbs below his AB-Rat. Of the two races of interest ,both running +4lbs above their AB-Rat, Man On A Mission went on to win his next two races, whilst 2nd placed Glorious Charmer over his next 5 races had form figures of 31121, 4th placed Nellie French's next 7 runs went 321721. The other race won by He's Our Star worked out not as good as Man On A Mission's but the winner's next four runs went 4252 (both seconds beaten less than a length , one a neck so possibly unlucky) , 2nd placed Eye Of The Water won next time out, 4th placed Crocodile Power's next two runs ran 2nd both times , Lightly raced 5th placed Romanovich next 3 runs went 621 (the win at 7-1, BFSP 10.9) , whilst 9th placed Swiss Rowe's(only beaten 5L) next two runs went 5th and then won at 12-1, BFSP 17.2. There are those that diss "times" and believe that sectionals have all the answers and whilst they have a use their accuracy in this country has been abysmal. The company TPD(Total Performance Data) who supply sectionals to an ever increasing number of tracks in the UK have made big money in the US but the punters there demand accuracy and noticed errors and discrepancies right away and 10 of the 12 tracks they supplied sectionals to in the States have now reverted back to the good old beam technology and now use TPD as a "back-up" - the other mob CourseTrack don't even respond to any queries or emails and their error margin is far beyond the tolerances stated on their Racing TV Pdf's. So there is still plenty of mileage left in final timefigures especially in truly run races compared to ability.