Derivation Web

source_396c452e8afe4475

# Alpha memo — exercise

**Headline:** Exercise signals are endpoint-specific, not uniformly generalizable
**Alpha score:** 100/100 (internal triage score; not a certainty claim)
**Confidence:** `evidence_backed_signal`
**Memo surface:** `broad alpha memo`
**Source scope:** 16 A/B-bound receipts across 10 evidence sources; 12 total references in the source bundle. Context references are included f…