Exhibit 4 | Adaptive Asset Allocation | 4 choose 2
Backtest results
Metrics
1Y · since Oct 2025Exhibit 4 | Adaptive Asset Allocation | 4 choose 2 | |
|---|---|
| Total Return | +6.92% |
| CAGR | +6.98% |
| Sharpe | 0.68 |
| Calmar | 0.77 |
| Max DD | -9.04% |
| Volatility | 10.80% |
| Win Rate | 54.2% |
Last year of a hypothetical backtest, Oct 30, 2025 to Oct 30, 2026. Create an account to see the full history.
About this strategy
A dynamic pair-selection strategy keeps two assets at a time, choosing the pair that has performed best over the past 126 days and weighting them by inverse volatility so each contributes similar risk. When the relative performance of the gold, S&P 500, Treasury, or dollar shifts, it swaps to the new best pair, protecting against sudden downturns by moving into the safest combination.
Current allocation
What the rules select as of Oct 30, 2026.
Frequently asked questions
What is Exhibit 4 | Adaptive Asset Allocation | 4 choose 2?
A dynamic pair-selection strategy keeps two assets at a time, choosing the pair that has performed best over the past 126 days and weighting them by inverse volatility so each contributes similar risk. When the relative performance of the gold, S&P 500, Treasury, or dollar shifts, it swaps to the new best pair, protecting against sudden downturns by moving into the safest combination.
What is Exhibit 4 | Adaptive Asset Allocation | 4 choose 2 holding today?
As of Oct 30, 2026, Exhibit 4 | Adaptive Asset Allocation | 4 choose 2 allocates to UUP 71.5%, SPY 28.5%.
How has Exhibit 4 | Adaptive Asset Allocation | 4 choose 2 performed over the past year?
From Oct 30, 2025 to Oct 30, 2026, Exhibit 4 | Adaptive Asset Allocation | 4 choose 2 returned +7.2% in a hypothetical backtest. Past performance does not guarantee future results.
What is the maximum drawdown of Exhibit 4 | Adaptive Asset Allocation | 4 choose 2?
From Oct 30, 2025 to Oct 30, 2026, the largest peak-to-trough decline of Exhibit 4 | Adaptive Asset Allocation | 4 choose 2 in a hypothetical backtest was -9%.
How do I use Exhibit 4 | Adaptive Asset Allocation | 4 choose 2?
Open Exhibit 4 | Adaptive Asset Allocation | 4 choose 2 in Quantly to rerun the backtest, adjust the rules, and paper trade it. You can also connect a supported brokerage to trade your version live.
Backtest results are hypothetical and do not guarantee future returns. Strategies are shared by Quantly users for research only and are not investment advice.