New York, HedgeCo.Net – Last week was a choppy week for the market as we had a couple of big economic events on the calendar. The advanced report of first quarter GDP numbers came out on Wednesday morning and they came up short of expectations as well as the fourth quarter numbers. Later that day the Fed ended their meeting with an announcement of no change to interest rates at this time. While that is what everyone expected, the Fed went out of their way to state that they were concerned about the economy moving forward. Between these two events, stocks came under selling pressure on Wednesday and Thursday and then bounced back on Friday. At the end of the week, the S&P 500 lost 0.44%.
Even as the overall market saw selling, the models on the HedgeCoVest platform saw mixed results with the top five models showing a total return of 1.13% on the week while the top10 models showed a total return of -0.09%. All of the models combined produced a loss of -0.43%.
| Portfolio | Return Week of 4/27/15-5/1/15 | Year To Date Return |
|---|---|---|
| Top 5 HedgeCoVest Models | 1.13% | 6.99% |
| Top 10 HedgeCoVest Models | -0.09% | 4.23% |
| All HedgeCoVest Models | -0.43% | 3.45% |
| S&P 500 | -0.44% | 2.41% |
Looking at the year to date numbers, we see that the mock portfolio invested equally among all models on the platform is still outpacing the overall market by over one percent. A mock portfolio invested equally among the top 10 models would have yielded 4.23% so far in 2015 and a mock portfolio invested equally among the top five models would have yielded 6.99%.
The HedgeCoVest Composite models were also mixed last week with the long-only models collectively declining by 0.89%, the long/short models were down 0.89% as well and the short-only models collectively lost 0.97%.
| Portfolio | Return Week of 4/27/15-5/1/15 | Year To Date Return |
|---|---|---|
| HedgeCoVest Composite Long-Only Models | -0.89% | 7.86% |
| HedgeCoVest Composite Long/Short Models | -0.89% | 3.71% |
| HedgeCoVest Composite Short-Only Models | -0.97% | -2.60% |
| S&P 500 | –0.99% | 2.41% |
The year to date numbers show that the long-only models have yielded 7.86% collectively and the long/short models have yielded 3.71%. The short-only models have declined by 2.6% so far this year.
As far as individual composite models, the top performing model last week was theHedgeCoVest Energy and Utilities Long-Only which produced a gain of 2.0%. The second best performing composite model was the HedgeCoVest Technology Long/Short model with a gain of 1.09% and the HedgeCoVest REITS Long/Short model was third with a gain of 0.61%.
