New York (HedgeCo.net) – Last week was a mixed week with the market dropping sharply on Monday, dropping again on Tuesday and then it came roaring back on Wednesday and Thursday before breaking even on Friday. When all was said and done, the S&P gained 0.91% on the week.
After the V-bottom on Tuesday, the fund manager models performed very well and by the end of the week six outperformed the overall market and ten were in positive territory for the week. The average gain for the top five models last week was 2.38% while the average gain for the ten in positive territory was 1.43%.
| Portfolio | Return Week of 8/24/15-8/28/15 | Year To Date Return |
|---|---|---|
| Top 5 HedgeCoVest Models | 2.38% | 1.09% |
| Top 10 HedgeCoVest Models | 1.43% | -4.04% |
| All HedgeCoVest Models | 0.47% | -4.14% |
| S&P 500 | 0.91% | -3.39% |
On the YTD chart, you see the epitome of a v-bottom on Tuesday with the S&P represented by the red line. Even after the bounce on Wednesday and Thursday, the index is still down 3.39% YTD. The portfolio of the Top Five models did dip in to negative territory on the year after the declines on Monday and Tuesday, but recovered by the end of the week and moved back in to positive territory on the year with a gain 1.09%.
* This comparison is using simulated portfolios of the top five performing models, the top ten performing models and all models on the HedgeCoVest platform. For a complete list of all models and their performance, please visit the platform. The information contained herein does not suggest or imply and should not be construed, in any manner, a guarantee of future performance and/or investment advice. Past performance does not guarantee future results. Returns are historical and based on data believed to be accurate and reliable.
The HedgeCoVest Composite models were mixed last week as one might expect. The long-only models gained 2.11% on the week while the long/short models gained 0.4%. Seven of the composite models outperformed the market while nine gained ground overall.
| Portfolio | Return Week of 8/24/15-8/28/15 | Year To Date Return |
|---|---|---|
| HedgeCoVest Composite Long-Only Models | 2.11% | -5.55% |
| HedgeCoVest Composite Long/Short Models | 0.40% | 4.43% |
| HedgeCoVest Composite Short-Only Models | -1.37% | 10.74% |
| S&P 500 | 0.91% | -3.39% |
The YTD numbers reflect the wild swing in the market last week as the short-only portfolio spiked up to a gain of 19.24% on the year before dropping back in the second half of the week. Even after the strong rallies on Wednesday and Thursday, the short-only portfolio is up 10.74% on the year.
* This comparison is using simulated portfolios of the composite models on the HedgeCoVest platform. For a complete list of all models and their performance, please visit the platform. The information contained herein does not suggest or imply and should not be construed, in any manner, a guarantee of future performance and/or investment advice. Past performance does not guarantee future results. Returns are historical and based on data believed to be accurate and reliable.
