Based on our daily performance indicator, December was a difficult month for CTAs, recording a down month of 1.7%, bringing year-to-date returns to a modest, but positive 3.8%. Traditionally the last quarter offers strong returns for CTAs, but not in this quarter.
The behavior of returns indicates a trend-less environment with losses largely outpacing gains. Happy New Year and may 2020 bring interesting trading conditions.
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Photo by Ray Hennessy on Unsplash
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