New York (HedgeCo.Net) – The last couple of weeks have been tumultuous with the uncertainty surrounding Greece’s sovereign debt and the selloff in China. During the last two weeks, the S&P 500 lost 1.18% and the Nasdaq lost 1.63%. Using the CBOE Volatility Index (VIX) as a gauge, volatility jumped as much as 40% during the last two weeks.
Given the volatility in the overall market, it was nice to see most of the portfolios on the HedgeCoVest platform holding up well. The portfolio of all single-strategy models was the only one of the three single-strategy portfolios that lagged the overall market in the last two weeks, while the portfolio of the top five models performed very well and the portfolio of the top ten models held up better than the overall market.
|
Portfolio |
Return Week of 6/29/15-7/2/15 |
Return Week of 7/6/15-7/10/15 |
Year To Date Return |
|---|---|---|---|
|
Top 5 HedgeCoVest Models |
0.22% |
0.46% |
4.28% |
|
Top 10 HedgeCoVest Models |
-0.44% |
1.17% |
0.08% |
|
All HedgeCoVest Models |
-1.14% |
-0.52% |
0.24% |
|
S&P 500 |
-1.18% |
-0.01% |
0.87% |
Looking at the chart of the YTD performance, the all models portfolio did fall behind the overall market in the last two weeks and it dipped in to negative territory for only the second time since February. The portfolio of the top ten models maintained its lead over the overall market and it didn’t dip in to negative territory—which it hasn’t done since the end of January. The portfolio of the top five models pulled back since the middle of June, but it still has a healthy 4.28% YTD.
* 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.
Looking at the HedgeCoVest Composite models, the portfolio of long-only strategies was down in each of the last two weeks, but it still shows a 3.51% gain YTD. The portfolio of long/short models gained ground last week and lost a little the week before, keeping the portfolio on the steady path it has been on for most of the year. The portfolio of short-only models jumped 1.56% last week and that was on top of the 2.69% gained in the previous week. This portfolio is now up 2.95% for the year.
|
Portfolio |
Return Week of 6/29/15-7/2/15 |
Return Week of 7/6/15-7/10/15 |
Year To Date Return |
|---|---|---|---|
|
HedgeCoVest Composite Long-Only Models |
-2.29% |
-0.90% |
3.51% |
|
HedgeCoVest Composite Long/Short Models |
-0.07% |
0.35% |
4.56% |
|
HedgeCoVest Composite Short-Only Models |
2.69% |
1.56% |
2.95% |
|
S&P 500 |
-1.18% |
-0.01% |
0.87% |
The one thing that absolutely jumps out about the YTD chart is the slow, steady progression of the long/short portfolio. While the other portfolios have bounced around in recent weeks, as did the S&P 500, the portfolio of long/short models has been pretty steady and shows a 4.56% gain so far in 2015.
* 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.
