The equal parts Blood and Sand (scotch, cherry brandy, sweet vermouth, and orange juice) formula from the 1930 The Savoy Cocktail Book is the accepted...
Proportions here are just about perfect, but I do enjoy tweaking this recipe to reflect availability of different orange varieties through the seasons. Summer Valencias have a slightly bitter finish & provide balance to the sweet Cherry Heering. Winter Navel oranges are almost unidimensionally sweet. Blood oranges, arriving in late Winter & through Autumn, are perhaps best suited to this cocktail (to my palate) - tart as well as sweet, with a slightly bitter kick, & perfect ruddy colour.
If the oranges are particularly sweet, I'll sub in a bitter amaro for the vermouth. If the juice is quite pale & the result is a true sandy yellow, floating a bar spoon of red amaro across the surface gives a nice effect.