CTA Performance Review – October 2019 via ATS Trading Solution


ATS Trading Solution has yet again written a good take on how difficult it is to be a trend follower. In particular, October was the second month in a row with muted performance. Two negative months in a row are not uncommon for trend managers but after the easy-breezy trading conditions throughout the year, this … Continue reading CTA Performance Review – October 2019 via ATS Trading Solution

New CTAs


NilssonHedge is on Thanksgiving break, but as part of our continued coverage of new and old CTAs, we note a few new CTA/CPO registration for the last week. 2 funds applied for registrations and 6 withdraw their status. NFA ID FirmName City State Country Status 526505 Jscm Limited London United Kingdom Pending 525917 T Rowe … Continue reading New CTAs

Correlation Structure for Large Managers


Looking at a subset of the largest of the largest managers (here managers reporting AUM over 2bn) we note that a large share of the managers appears to be related, that is highly correlated. The heat map above shows that a majority of the funds are clustering together. The reason for this is partially obvious, … Continue reading Correlation Structure for Large Managers

New CTAs


We noticed that the firms below decided to register with the NFA during the last week. We will follow this firm and hope that they one day may become will become large. NFA ID FirmName City State Country Status 526220 Stopka, David Willow Springs Illinois United States Pending 526186 Taormina, Lingzhi li Sarasota Florida United … Continue reading New CTAs

Top 10 / Bottom 10 Hedge Funds for October


With close to 80% of the funds reporting for October, our best and worst list is now getting closer to becoming final. We note that White Indian had a rough period, taking 4 places on the list for the worst programs throughout October. The top list is slightly more diversified with a number of Crypto … Continue reading Top 10 / Bottom 10 Hedge Funds for October

The NilssonReport is updated


The NilssonReport is updated, with 78% of the funds reporting half-way through the month. Dispersion for the managers have been lower in October compared to prior months.