See the regressions from https://chromeperf.appspot.com/group_report?bug_id=808651.

The alerts show regression in FMP and a lot of noise, but the value which can be seen in individual traces has not regressed.

For example, this is a data point from dashboard:

Test: ChromiumPerf/android-nexus5/loading.mobile/timeToFirstMeaningfulPaint_avg/cold/FlipBoard
Value: 1,572.53 (± 10.1625)
Point ID: 535677

However, loadingMetric from "View trace from this run" shows only 271ms as FMP.