What is the concentrated label?

The answer first

The concentrated label is a descriptive style tag in Convexly's skill read. It attaches when the single biggest winning event's PnL divided by the wallet's net PnL is at or above 0.6: one event is at least 60 percent of the net result. Since the 2026-07-15 realized-edge reframe it never changes the verdict; the sufficiency and interval gates decide the state, and the label travels with it to say how the money was made. The mandatory caveat is the point: the equal-weighted per-position edge can be clean while the dollar outcome rode on one or two events, so the average is not the path anyone following the wallet would live through, and concentrated records can mask gamed activity.

The ratio is deliberately not capped at 1. When the wallet's other events netted negative, the single biggest win can exceed the entire net result: observed values like 2.7 are real. A ratio above 1 means the rest of the record lost money on net and one event carried everything.

Worked example: Edge Score 95.8, unreadable record

A real row from the frozen 2026-06-09 scan of our own published top-50 cohort (full table at /research/top50-skill-scan). Wallet 0x0d83ca sat near the top of the board with an Edge Score of 95.8 and positive net PnL. Its skill read:

• Realized entry edge +1.9pp across 35 resolved positions, 95 percent interval [-7.8, +11.9].
• Concentration ratio 2.70: the single biggest winning event was 2.7 times the net result, meaning everything else netted negative.

A reader who saw only the board position would call this wallet elite. The resolved record says two things instead: the interval includes zero, so the edge is not separable from chance, and the concentrated style attaches because the result is one event. (The frozen 2026-06-09 scan predates the 2026-07-15 reframe, so its artifact reported this row as too concentrated to read; the numbers are unchanged.) In the same scan, 15 of the 35 testable wallets crossed the same threshold, which is a large part of why raw profit leaderboards mislead.

Why more positions do not clear it

The insufficient state (fewer than 30 resolved positions, or fewer than 20 independent resolved events) is a sample-size problem: resolve more independent positions and the read becomes possible. The concentrated label is a composition fact: the record IS the one event, and adding small positions around it does not change what made the number. The label drops only when the composition changes, when no single event is 60 percent of the net. The sufficiency guardrail that used to ride on this threshold now lives in the independent-event-cluster floor: an interval computed on fewer than 20 independent events is capped at insufficient, whatever the point estimate, and that floor fails closed. Concentration can also mask gamed activity, which is why the label's caveat is mandatory rather than a footnote.

What the label does NOT mean

Concentrated is not an accusation and not a verdict of no skill. A genuinely skilled trader who concentrated once, correctly, keeps whatever verdict the gates produce, with the label and its caveat attached so nobody reads the dollar figure as a repeatable average. The label states a fact about composition: the dollar outcome rode on one outcome. The frozen wording lives in the lexicon, and the threshold is documented on the methodology page.

Check a wallet's concentration

Paste any Polymarket wallet address at the analyzer to see its concentration share alongside the realized entry edge, interval, verdict, and style labels. Free, no signup, Polymarket public data only.