Example animation of a simple trend following program applied to U.S. equities

Introduction to Trend Following

  • A Trend Equity Primer: An introduction to trend equity, a strategy that seeks to benefit from the long-term, expected equity risk premium and the convex payoff of trend following.
  • Two Centuries of Momentum: Exploring the rich history of both relative and time-series momentum.

Understanding the Behavior

  • Decomposing Trend Equity: We decompose trend equity into a strategic allocation and an active trading strategy in effort to create better transparency around portfolio behavior.
  • How to Benchmark Trend Following: If we acknowledge that for a strategy to outperform over the long-run, it must undergo shorter periods of underperformance, using this symmetric benchmark can isolate market environments that underperformance should be expected.

Using Trend Following

Craftsmanship in Trend Following