Carbide Capital Inc

Carbide Absolute Return Program


Monthly Performance (%)

Date Range: 08/14 - 04/19
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2019 1.87 0.55 0.53 0.45   3.44 
2018 -1.09 -30.65 1.24 1.17 1.31 1.29 1.89 0.75 0.78 -11.69 1.43 -5.56  -36.91 
2017 0.83 1.01 0.86 1.08 1.02 1.53 1.03 0.74 0.69 1.01 0.45 1.21  12.08 
2016 1.55 1.06 3.00 1.31 1.39 -0.77 2.11 0.73 0.66 1.29 1.52 0.87  15.70 
2015 0.71 0.84 1.12 0.66 0.71 -0.17 0.75 -3.76 3.82 1.23 0.99 0.95  7.97 
2014 0.79 2.40 -1.01 1.90  4.11 
Note: Estimates appear in italics. All performance data is since program inception.

Strategy Description

The Carbide Absolute Return Program seeks to produce non- correlated returns through a long/short options strategy focused on the S&P 500. The program generally has a bias towards short option positions. Our Portfolio Manager was previously the head trader for a multi-billion dollar hedge fund. Comprehensive investment process incorporates volatility, as well as fundamental and technical analysis into trading decisions. Carbide’s CTA operating structure offers full transparency and optimum liquidity.

Performance Statistics

Date Range: 08/14 - 04/19
  Program S&P 500 Altegris 40 
Total Return -4.87% 68.32% 14.35% 
Annualized Return -1.06% 11.59% 2.86% 
Annualized Std. Deviation 16.11% 11.39% 8.90% 
Correlation 0.40 0.32 
Sharpe Ratio (rf=2.5%) -0.22 0.80 0.04 
Worst Month -30.65% -9.03% -6.10% 
Date of Worst Month 02/2018 12/2018 02/2018 
Worst Drawdown -36.91% -13.52% -13.63% 
Date of Worst Drawdown 12/17 - 12/18 9/18 - 12/18 3/15 - 1/19 
Note: Estimates appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 08/14 - 04/19

Year or YTD Program S&P 500 Altegris 40 
2019 3.44 18.24 5.17 
2018 -36.91 -4.38 -4.29 
2017 12.08 21.84 1.24 
2016 15.70 11.98 -3.13 
2015 7.97 1.41 0.09 
2014 4.11 3.46 11.03 
Note: Estimates appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 08/14 - 04/19
Date: 4/30/2019
Perf: $1,097.06 Date: 3/31/2019
Perf: $1,067.70 Date: 2/28/2019
Perf: $1,030.70 Date: 1/31/2019
Perf: $1,024.14 Date: 12/31/2018
Perf: $1,043.13 Date: 11/30/2018
Perf: $1,038.76 Date: 10/31/2018
Perf: $1,051.38 Date: 9/30/2018
Perf: $1,078.01 Date: 8/31/2018
Perf: $1,082.88 Date: 7/31/2018
Perf: $1,055.95 Date: 6/30/2018
Perf: $1,063.93 Date: 5/31/2018
Perf: $1,055.07 Date: 4/30/2018
Perf: $1,068.86 Date: 3/31/2018
Perf: $1,057.44 Date: 2/28/2018
Perf: $1,058.39 Date: 1/31/2018
Perf: $1,127.15 Date: 12/31/2017
Perf: $1,089.87 Date: 11/30/2017
Perf: $1,078.12 Date: 10/31/2017
Perf: $1,076.72 Date: 9/30/2017
Perf: $1,033.42 Date: 8/31/2017
Perf: $1,055.70 Date: 7/31/2017
Perf: $1,038.46 Date: 6/30/2017
Perf: $1,034.42 Date: 5/31/2017
Perf: $1,065.54 Date: 4/30/2017
Perf: $1,063.52 Date: 3/31/2017
Perf: $1,069.94 Date: 2/28/2017
Perf: $1,085.79 Date: 1/31/2017
Perf: $1,062.62 Date: 12/31/2016
Perf: $1,076.51 Date: 11/30/2016
Perf: $1,068.39 Date: 10/31/2016
Perf: $1,080.28 Date: 9/30/2016
Perf: $1,108.88 Date: 8/31/2016
Perf: $1,123.38 Date: 7/31/2016
Perf: $1,154.43 Date: 6/30/2016
Perf: $1,142.77 Date: 5/31/2016
Perf: $1,096.19 Date: 4/30/2016
Perf: $1,115.71 Date: 3/31/2016
Perf: $1,144.44 Date: 2/29/2016
Perf: $1,178.25 Date: 1/31/2016
Perf: $1,149.96 Date: 12/31/2015
Perf: $1,111.29 Date: 11/30/2015
Perf: $1,137.45 Date: 10/31/2015
Perf: $1,099.94 Date: 9/30/2015
Perf: $1,119.42 Date: 8/31/2015
Perf: $1,095.65 Date: 7/31/2015
Perf: $1,114.93 Date: 6/30/2015
Perf: $1,072.98 Date: 5/31/2015
Perf: $1,131.84 Date: 4/30/2015
Perf: $1,140.04 Date: 3/31/2015
Perf: $1,185.82 Date: 2/28/2015
Perf: $1,160.18 Date: 1/31/2015
Perf: $1,162.04 Date: 12/31/2014
Perf: $1,110.30 Date: 11/30/2014
Perf: $1,091.09 Date: 10/31/2014
Perf: $1,029.82 Date: 9/30/2014
Perf: $1,014.90 Date: 8/31/2014
Perf: $1,000.00 Date: 4/30/2019
Perf: $1,618.49 Date: 3/31/2019
Perf: $1,555.49 Date: 2/28/2019
Perf: $1,525.89 Date: 1/31/2019
Perf: $1,478.43 Date: 12/31/2018
Perf: $1,368.79 Date: 11/30/2018
Perf: $1,504.66 Date: 10/31/2018
Perf: $1,474.58 Date: 9/30/2018
Perf: $1,582.85 Date: 8/31/2018
Perf: $1,573.88 Date: 7/31/2018
Perf: $1,524.19 Date: 6/30/2018
Perf: $1,469.52 Date: 5/31/2018
Perf: $1,460.47 Date: 4/30/2018
Perf: $1,426.10 Date: 3/31/2018
Perf: $1,420.70 Date: 2/28/2018
Perf: $1,457.73 Date: 1/31/2018
Perf: $1,513.58 Date: 12/31/2017
Perf: $1,431.55 Date: 11/30/2017
Perf: $1,415.83 Date: 10/31/2017
Perf: $1,373.66 Date: 9/30/2017
Perf: $1,342.39 Date: 8/31/2017
Perf: $1,315.29 Date: 7/31/2017
Perf: $1,311.23 Date: 6/30/2017
Perf: $1,284.76 Date: 5/31/2017
Perf: $1,276.84 Date: 4/30/2017
Perf: $1,259.09 Date: 3/31/2017
Perf: $1,246.25 Date: 2/28/2017
Perf: $1,244.76 Date: 1/31/2017
Perf: $1,197.23 Date: 12/31/2016
Perf: $1,174.91 Date: 11/30/2016
Perf: $1,152.09 Date: 10/31/2016
Perf: $1,110.99 Date: 9/30/2016
Perf: $1,131.58 Date: 8/31/2016
Perf: $1,131.36 Date: 7/31/2016
Perf: $1,129.78 Date: 6/30/2016
Perf: $1,089.57 Date: 5/31/2016
Perf: $1,086.74 Date: 4/30/2016
Perf: $1,067.53 Date: 3/31/2016
Perf: $1,063.38 Date: 2/29/2016
Perf: $995.86 Date: 1/31/2016
Perf: $997.16 Date: 12/31/2015
Perf: $1,049.20 Date: 11/30/2015
Perf: $1,066.04 Date: 10/31/2015
Perf: $1,062.85 Date: 9/30/2015
Perf: $980.13 Date: 8/31/2015
Perf: $1,004.95 Date: 7/31/2015
Perf: $1,069.44 Date: 6/30/2015
Perf: $1,047.44 Date: 5/31/2015
Perf: $1,068.17 Date: 4/30/2015
Perf: $1,054.56 Date: 3/31/2015
Perf: $1,044.54 Date: 2/28/2015
Perf: $1,061.30 Date: 1/31/2015
Perf: $1,003.60 Date: 12/31/2014
Perf: $1,034.64 Date: 11/30/2014
Perf: $1,037.23 Date: 10/31/2014
Perf: $1,010.06 Date: 9/30/2014
Perf: $986.00 Date: 8/31/2014
Perf: $1,000.00 Date: 4/30/2019
Perf: $951.32 Date: 3/31/2019
Perf: $947.06 Date: 2/28/2019
Perf: $942.06 Date: 1/31/2019
Perf: $936.91 Date: 12/31/2018
Perf: $919.71 Date: 11/30/2018
Perf: $973.86 Date: 10/31/2018
Perf: $960.13 Date: 9/30/2018
Perf: $1,087.23 Date: 8/31/2018
Perf: $1,078.81 Date: 7/31/2018
Perf: $1,070.78 Date: 6/30/2018
Perf: $1,050.92 Date: 5/31/2018
Perf: $1,037.53 Date: 4/30/2018
Perf: $1,024.12 Date: 3/31/2018
Perf: $1,012.27 Date: 2/28/2018
Perf: $999.88 Date: 1/31/2018
Perf: $1,441.78 Date: 12/31/2017
Perf: $1,457.67 Date: 11/30/2017
Perf: $1,440.24 Date: 10/31/2017
Perf: $1,433.79 Date: 9/30/2017
Perf: $1,419.45 Date: 8/31/2017
Perf: $1,409.73 Date: 7/31/2017
Perf: $1,399.37 Date: 6/30/2017
Perf: $1,385.11 Date: 5/31/2017
Perf: $1,364.23 Date: 4/30/2017
Perf: $1,350.46 Date: 3/31/2017
Perf: $1,336.03 Date: 2/28/2017
Perf: $1,324.64 Date: 1/31/2017
Perf: $1,311.39 Date: 12/31/2016
Perf: $1,300.60 Date: 11/30/2016
Perf: $1,289.38 Date: 10/31/2016
Perf: $1,270.07 Date: 9/30/2016
Perf: $1,253.90 Date: 8/31/2016
Perf: $1,245.68 Date: 7/31/2016
Perf: $1,236.65 Date: 6/30/2016
Perf: $1,211.10 Date: 5/31/2016
Perf: $1,220.49 Date: 4/30/2016
Perf: $1,203.76 Date: 3/31/2016
Perf: $1,188.20 Date: 2/29/2016
Perf: $1,153.59 Date: 1/31/2016
Perf: $1,141.49 Date: 12/31/2015
Perf: $1,124.07 Date: 11/30/2015
Perf: $1,113.49 Date: 10/31/2015
Perf: $1,102.57 Date: 9/30/2015
Perf: $1,089.18 Date: 8/31/2015
Perf: $1,049.10 Date: 7/31/2015
Perf: $1,090.09 Date: 6/30/2015
Perf: $1,081.97 Date: 5/31/2015
Perf: $1,083.81 Date: 4/30/2015
Perf: $1,076.17 Date: 3/31/2015
Perf: $1,069.12 Date: 2/28/2015
Perf: $1,057.28 Date: 1/31/2015
Perf: $1,048.47 Date: 12/31/2014
Perf: $1,041.08 Date: 11/30/2014
Perf: $1,021.67 Date: 10/31/2014
Perf: $1,032.09 Date: 9/30/2014
Perf: $1,007.90 Date: 8/31/2014
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns

Date Range: 08/14 - 04/19
Date: 4/30/2019
Return: 0.45 % Date: 3/31/2019
Return: 0.53 % Date: 2/28/2019
Return: 0.55 % Date: 1/31/2019
Return: 1.87 % Date: 12/31/2018
Return: -5.56 % Date: 11/30/2018
Return: 1.43 % Date: 10/31/2018
Return: -11.69 % Date: 9/30/2018
Return: 0.78 % Date: 8/31/2018
Return: 0.75 % Date: 7/31/2018
Return: 1.89 % Date: 6/30/2018
Return: 1.29 % Date: 5/31/2018
Return: 1.31 % Date: 4/30/2018
Return: 1.17 % Date: 3/31/2018
Return: 1.24 % Date: 2/28/2018
Return: -30.65 % Date: 1/31/2018
Return: -1.09 % Date: 12/31/2017
Return: 1.21 % Date: 11/30/2017
Return: 0.45 % Date: 10/31/2017
Return: 1.01 % Date: 9/30/2017
Return: 0.69 % Date: 8/31/2017
Return: 0.74 % Date: 7/31/2017
Return: 1.03 % Date: 6/30/2017
Return: 1.53 % Date: 5/31/2017
Return: 1.02 % Date: 4/30/2017
Return: 1.08 % Date: 3/31/2017
Return: 0.86 % Date: 2/28/2017
Return: 1.01 % Date: 1/31/2017
Return: 0.83 % Date: 12/31/2016
Return: 0.87 % Date: 11/30/2016
Return: 1.52 % Date: 10/31/2016
Return: 1.29 % Date: 9/30/2016
Return: 0.66 % Date: 8/31/2016
Return: 0.73 % Date: 7/31/2016
Return: 2.11 % Date: 6/30/2016
Return: -0.77 % Date: 5/31/2016
Return: 1.39 % Date: 4/30/2016
Return: 1.31 % Date: 3/31/2016
Return: 3.00 % Date: 2/29/2016
Return: 1.06 % Date: 1/31/2016
Return: 1.55 % Date: 12/31/2015
Return: 0.95 % Date: 11/30/2015
Return: 0.99 % Date: 10/31/2015
Return: 1.23 % Date: 9/30/2015
Return: 3.82 % Date: 8/31/2015
Return: -3.76 % Date: 7/31/2015
Return: 0.75 % Date: 6/30/2015
Return: -0.17 % Date: 5/31/2015
Return: 0.71 % Date: 4/30/2015
Return: 0.66 % Date: 3/31/2015
Return: 1.12 % Date: 2/28/2015
Return: 0.84 % Date: 1/31/2015
Return: 0.71 % Date: 12/31/2014
Return: 1.90 % Date: 11/30/2014
Return: -1.01 % Date: 10/31/2014
Return: 2.40 % Date: 9/30/2014
Return: 0.79 % Date: 8/31/2014
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 08/14 - 04/19
Return: -6.00 %
Count: 1 Return: -12.00 %
Count: 1 Return: -31.00 %
Count: 1 Return: 3.00 %
Count: 1 Return: 4.00 %
Count: 1 Return: -4.00 %
Count: 1 Return: -1.00 %
Count: 3 Return: 2.00 %
Count: 8 Return: 1.00 %
Count: 36 Return: 0.00 %
Count: 4
Note: All performance data is since program inception.

Underwater Curve

Date Range: 08/14 - 04/19
Date: 4/30/2019
Drawdown: -34.74 % Date: 3/31/2019
Drawdown: -35.03 % Date: 2/28/2019
Drawdown: -35.37 % Date: 1/31/2019
Drawdown: -35.73 % Date: 12/31/2018
Drawdown: -36.91 % Date: 11/30/2018
Drawdown: -33.19 % Date: 10/31/2018
Drawdown: -34.13 % Date: 9/30/2018
Drawdown: -25.41 % Date: 8/31/2018
Drawdown: -25.99 % Date: 7/31/2018
Drawdown: -26.54 % Date: 6/30/2018
Drawdown: -27.90 % Date: 5/31/2018
Drawdown: -28.82 % Date: 4/30/2018
Drawdown: -29.74 % Date: 3/31/2018
Drawdown: -30.56 % Date: 2/28/2018
Drawdown: -31.41 % Date: 1/31/2018
Drawdown: -1.09 % Date: 12/31/2017
Drawdown: 0.00 % Date: 11/30/2017
Drawdown: 0.00 % Date: 10/31/2017
Drawdown: 0.00 % Date: 9/30/2017
Drawdown: 0.00 % Date: 8/31/2017
Drawdown: 0.00 % Date: 7/31/2017
Drawdown: 0.00 % Date: 6/30/2017
Drawdown: 0.00 % Date: 5/31/2017
Drawdown: 0.00 % Date: 4/30/2017
Drawdown: 0.00 % Date: 3/31/2017
Drawdown: 0.00 % Date: 2/28/2017
Drawdown: 0.00 % Date: 1/31/2017
Drawdown: 0.00 % Date: 12/31/2016
Drawdown: 0.00 % Date: 11/30/2016
Drawdown: 0.00 % Date: 10/31/2016
Drawdown: 0.00 % Date: 9/30/2016
Drawdown: 0.00 % Date: 8/31/2016
Drawdown: 0.00 % Date: 7/31/2016
Drawdown: 0.00 % Date: 6/30/2016
Drawdown: -0.77 % Date: 5/31/2016
Drawdown: 0.00 % Date: 4/30/2016
Drawdown: 0.00 % Date: 3/31/2016
Drawdown: 0.00 % Date: 2/29/2016
Drawdown: 0.00 % Date: 1/31/2016
Drawdown: 0.00 % Date: 12/31/2015
Drawdown: 0.00 % Date: 11/30/2015
Drawdown: 0.00 % Date: 10/31/2015
Drawdown: 0.00 % Date: 9/30/2015
Drawdown: -0.08 % Date: 8/31/2015
Drawdown: -3.76 % Date: 7/31/2015
Drawdown: 0.00 % Date: 6/30/2015
Drawdown: -0.17 % Date: 5/31/2015
Drawdown: 0.00 % Date: 4/30/2015
Drawdown: 0.00 % Date: 3/31/2015
Drawdown: 0.00 % Date: 2/28/2015
Drawdown: 0.00 % Date: 1/31/2015
Drawdown: 0.00 % Date: 12/31/2014
Drawdown: 0.00 % Date: 11/30/2014
Drawdown: -1.01 % Date: 10/31/2014
Drawdown: 0.00 % Date: 9/30/2014
Drawdown: 0.00 %
Note: All performance data is since program inception.

Underwater Curve

Manager Information

Manager Name:  Carbide Capital Inc
Address: 633 West 5th St, Suite 2600
City: Los Angeles
State: CA
Zip: 90071
Country: United States

Key People

Key People

Employee information is not available.

Additional Information

 Futures Sectors Traded
 Stock Indexes Yes 
 Investment Methodology
 Fundamental Analysis Yes 
 Technical Yes 
 Systematic No 
 Discretionary Yes 
 Instruments Traded
 Listed Options Yes 
 Geographical Focus
 United States Yes 
 Holding Period
 Long Term Yes 
 Short Term Yes 
 Investment Terms & Information
 Managed Account Minimum: $200,000 
 Margin / Equity Ratio:  
 Managed Account Availability: Open