CQA – CTA Challenge Insights February 2021

February was a strong month for most CTA strategies, with the majority of CTA Challenge participants finishing the month with positive performance. While we often generalize about sub-strategy performance (e.g., trend following versus global macro, or long term versus short term), February was interesting in that manager performance was less tied to the specific trading strategies utilized and more correlated with the market sectors that managers had exposure to. Commodities and interest rates were where the action was, and managers with short exposures to Treasuries and/or long exposures to industrial metals, softs, and the energy complex were rewarded handsomely. With volatility increasing in a number of markets, 2021 looks like it will present many opportunities for individual managers to separate themselves from the pack. We look forward to publishing our first risk-adjusted rankings in early April when we have a more robust data set to evaluate. Stay tuned.


To send a question to the author, or to learn more about this topic, click here.

For more information about Coquest Advisors and its Portfolios, please click here.


Disclosure: The risk of loss in trading futures and/or options is substantial. Past performance is not indicative of future results. The information in this message derived from third-party sources is believed to be accurate and reliable; Coquest does not guarantee the accuracy or completeness of the information. Opinions expressed in this material are subject to change without notice. This report should not be interpreted as a request to engage in any transaction of futures, options, and/or OTC derivatives. The information contained in this material is not to be relied upon in substitution for the exercise of your independent judgment. Seek independent financial, tax, legal, and accounting advice from your own professional advisers, based upon your particular circumstances.