Idea for Formulating Tournament Success

This is more me spitballing to try and come up with a good concept. I'm having trouble thinking in my head, so I thought it would be a good idea to get some of these things down. As I said before, some of the stats I look at most are free throw percentage, rebounding margin, and assist-turnover ratio. It's been hard for me to combine all of the concepts that I'm working with, so it might be better to keep them separate for the time being. What I have been working on mostly is playing with the rebounding margin statistic.

The rebounding margin statistic, to me, is all about the ability to gain extra possessions (from previous post that is linked above): 

If you are outrebounding your opponent, you are either preventing second chance opportunities or you are getting second chances opportunities.

I thought about other statistics which are suggestive of a team's ability to gain more or lose possessions. I added steals and blocks to the rebounding margin and subtracted turnovers. Basically, you have a statistic which measures your ability to take away a possession from the other team or to give away a possession in addition to your rebounding margin. The results of this statistic were pretty interesting (Top 10 teams):

1. Kentucky
2. North Carolina
3. Ohio State
4. St. Mary's
5. Michigan State
6. BYU
7. Kansas
8. New Mexico State
9. Wichita State
10. Connecticut

Kentucky obviously went on to win the tournament and Kansas was the runner up. North Carolina, Ohio State and Michigan State also made deep runs. Most of the other schools like St Mary's, New Mexico State, and Wichita State are mid-major who may not have played a high level of competition and therefore their statistics might have been a bit inflated.

The bottom 10 teams of the statistic is pretty telling as well as most of these teams did not win many games:

68. Mississippi Valley State
67. Colorado State
66. Western Kentucky
65. Long Island University - Brooklyn
64. Michigan
63. Norfolk State
62. Notre Dame
61. UNC-Asheville
60. Iona
59. Ohio

Ohio had two wins in the tournament, one of which came against Michigan. Norfolk State shocked Missouri in one of the 15-2 upsets. Most of the rest of these teams are some of the worst teams in the tournament. Michigan and Notre Dame are big conference teams, and it's clear that this is part of the reason that they lost in the first round.

I guess just looking at these numbers, you can get a pretty decent idea of which teams will be successful, but I'd also look at them head to head. I think the Ohio-Michigan example is a good one because while Ohio is not good in this statistic, they are better than Michigan. This is not the only aspect of the game that I think is important, but I do think that this can be a significant indicator of tournament success.

I'm having trouble gauging how to make the free throw percentage statistic effective. It doesn't matter how well you shoot free throws if you're not getting to the line. As I said before, I've mostly played around with the rebounding statistic, and this is a statistic that I will probably play with next. I think it would have to be more of a power index as far as the teams that are going to be physical. I'd probably look at free throw attempts, but I'd also want to see how it goes along with rebounding margin or at least look at offensive rebounds. This is going to be more tricky as it'll be tougher to find correlation with winning.

I've sort of ignored the assist-turnover statistic because that one to me has more to do with looking at rosters. I haven't really gone through the rosters because I'm not sure how I am going categorize and index depth. May be after I look at a few rosters, I can get an idea of how the average roster looks and work off of that.

There's still a lot of work to be done.