Hum, yeah you're partially right because if you look closer to the data in Julius Vida's work trenbolone has a 500:500 ratio in comparison to 19-nor-testosterone (nandrolone) and not to testosterone. That's a great difference considering that nandrolone has an a:a of 125:37 in comparison to testosterone. Now consider that trenbolone has a ratio of 500:500 in comparison to nandrolone and you'll understand how androgenic it really is in comparison to testosterone.
Just doing rough math if 125:37 (nandrolone's a:a ratio in comparison to testosternone) is considered to be 100:100 in the study in wich trenbolone is compared, then:
-to know the anabolic value of trenbolone in comparison to testosterone the math count is like: 125(anabolic value of nandrolone comparing to testosterone) X 500 (the trenbolone anabolic value in comparison to nandrolone) : 100 (the base number to wich the anabolic value of nandrolone was given in the study to wich it was compared to trenbolone) = 625 -> wich would be the anabolic value of trenbolone to testosterone
-to know the androgenic value of trenbolone in comparison to testosterone the math count is like: 37(androgenic value of nandrolone comparing to testosterone) X 500 (the trenbolone androgenic value in comparison to nandrolone) : 100 (the base number to wich the androgenic value of nandrolone was given in the study to wich it was compared to trenbolone) = 185 -> wich would be the androgenic value of trenbolone to testosterone
So... if I'm thinking right, by numbers (not by really comparing it in a real study to testosterone) we can assume that trenbolone's anabolic:androgenic ratio to testosterone it of 625:185, wich makes what you said right: trenbolone has an higher androgenic value than testosterone/1-testosterone (wich is the same), but not as high as it seems in those numbers
Plus, we must consider that these are only numbers and that in real world even though trenbolone is that androgenic it doesn't make up for the side effects typical of the 19nor compounds, but still makes it a pretty damn good non-methyl, oraly bioactive compound for cutting