ASYMMETRY® Observations

ASYMMETRY® Observations are Mike Shell’s observations of investor behavior causing directional price trends, global macro, tactical ETF trading, momentum stock trading, hedging, volatility trading, and risk management that creates asymmetric investment returns. An asymmetric return profile is a risk/reward profile with a positive asymmetry between profit and loss. Mike Shell is the founder of Shell Capital Management, LLC and the portfolio manager of ASYMMETRY® Global Tactical

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  • Definitions
    • Asymmetric Reward to Risk
    • Asymmetric Risk Management
    • Asymmetry Artificial Intelligence (Asymmetry AI)
    • Evidence Based Investing
    • Systematic Risk Management
    • About Definitions
      • What is Investor Psychology?
    • Asymmetry®
      • Asymmetric Returns
        • What is an asymmetric return?
      • Portfolio Asymmetry
      • Asymmetric
        • Asymmetric Global Macro
        • Asymmetric Hedge
        • Asymmetric Hedging
        • Prospect Theory
      • Asymmetric Return Distribution
        • Is asymmetric mean-reverting pattern in stock returns systematic?
        • Seeking Asymmetric Returns
      • Asymmetry Payoff
        • Asymmetric Risk Exposure
        • Asymmetric Risk Profile
        • Symmetric Risk
      • Asymmetric Return Compounding
      • Asymmetric reward-to-risk set up
      • Asymmetric Thinking
      • Asymmetrical Risk/Reward
      • Definition of Asymmetry
      • Asymmetric Risk Reward
      • Asymmetric Situation
      • Asymmetric Observations
      • Asymmetric Return Funds
      • Asymmetric Risk
      • Asymmetric Information
      • Asymmetric Investing
      • Asymmetrical Payoff Function
      • Asymmetry Asset Management
      • Non Normal Distribution
      • Asymmetric Alpha
      • Asymmetric volatility around the world
      • Asymmetry® index
      • Positive Asymmetry
      • Asymmetric Insight
      • Asymmetric Risks of Momentum Strategies
      • Asymmetry Capital Management
      • Mike Shell Interviews
        • Mike Shell interview with Investor’s Business Daily
        • Mike Shell interview Forbes
    • Trend
      • Momentum
        • Absolute Momentum
        • Cross-Sectional Momentum
        • Momentum Seeking
        • Relative Momentum Relative Strength
          • Relative Strength Index RSI
        • Time Series Momentum
      • Oversold
      • Inertia
      • Velocity
      • Speed
      • Skew or Skewness
        • Positive Skew
      • Trend Following
      • Market Top
      • Market Bottom
      • Trajectory
    • Investor Behavior
      • Fear and Greed Index
      • Investors Overreact
      • Investors Underreact Under-react
      • Quantitative Analysis of Investor Behavior
      • Gauging Market Sentiment
      • Using Investor Sentiment as a Contrarian Indicator
    • Absolute Return
      • Unconstrained Investment Management
      • Unconstrained Investment Strategy
    • Asymmetric Trading System
    • Asymmetric Volatility
      • Quantile Regression Analysis of the Asymmetric Return-Volatility Relation
    • Research Papers
      • A Century of Evidence on Trend-Following Investing
      • Simple technical trading rules and the stochastic properties of stock returns
      • Two centuries of trend following
      • Asymmetric Option Price Distribution and Bid-Ask Quotes: Consequences for Implied Volatility Smiles
    • Countertrend
      • Regression toward the mean (mean reversion)
    • Stock Market Cycles
    • Asymmetric Advantage
    • Asymmetric Leverage
    • Asymmetric Risk Reward Ratio
      • Asymmetric Trade Quotes
      • Asymmetric Taxation of Business Gains and Losses
    • Drawdown Control
      • Drawdown Control System
    • Investor Objectives
      • Absolute Returns
        • Tactical Management
        • Unconstrained Investing
      • Relative Return
        • S&P Indices Versus Active (SPIVA®)
    • Alternative Investments
    • Global Macro
    • Quantitative Research
      • Black Box
      • Empirical Evidence
      • Data Snooping Mining Dredging
      • Machine Learning
      • Meta-analysis
      • Algorithm
      • Neural Network
      • Pattern Recognition
      • Predictive Power
      • Systematic
        • Systematic vs Discretionary Trading
      • Pseudoscience
    • Volatility
      • Implied Volatility
      • VIX: What is the VIX?
      • Can the VIX Signal Market’s Direction? An Asymmetric Dynamic Strategy
        • Volatility Trading Strategies with VIX ETN ETF
          • The Risks of Volatility ETNs: A Recent Incident and Underlying Issues
      • Volatility Risk Premium (VRP)
      • We Don’t Quite Know What We are Talking About When We Talk About Volatility
      • Historical Volatility
        • Volatility Targeting
      • Options Speculation Index
      • The Long and Short of the Vol Anomaly
    • Adaptive Asset Allocation
    • Family Office
    • Research Papers
    • Risk Management
    • Artificial Intelligence in the Investment Industry
    • Asymmetric Beta
    • Risk Measures
      • Alpha
    • Factor Investing: Risk Premia Factors
    • Liquid Alternative Investments
    • Active Risk Management
      • Asymmetric Uncertainty
    • ETF Investment Strategists
    • Fund Strategist Portfolios
    • Logical Inconsistency
    • Systematic Trend Following
    • Trend Following
    • Active Volatility Management
    • Keltner Channels
    • Technical Analysis
    • Systematic Global Macro
    • Global Tactical Asset Allocation
      • S&P Target Risk Index Global Asset Allocation
    • ASYMMETRY® Ratio
    • Flash Crash May 6, 2010
    • Asymmetric Payoff
    • Critical Thinking
    • Full Market Cycle
    • Bear Market
    • ETF Investment Strategy
    • Hedge Funds
      • Hedge Fund Books
      • Risks of Private Investments
    • Asymmetric Investments
      • Asymmetry Investment
        • Asymmetric Return Strategies
        • Investment Asymmetry
    • Asymmetric Reward vs Risk
    • Asymmetry Global Macro
    • Automation
    • ETF Strategist
    • Positive Expectation
    • Red and blue pill
    • Smart Beta
    • The Usefulness and Uselessness of Backtests
    • Volatility ETF Strategy
    • Index Option Strategies
    • Investment Alpha
    • Overconfidence
    • Risk-to-Reward Ratio
    • Seasonality and Stock Market Seasons
    • Asymmetric Return Capital
    • Understanding the VIX
    • Beta
    • Asymmetric Return Capital
    • Asymmetry Global Healthcare
    • Asymmetry Indexes
    • Predictive Power
    • Situational Awareness
    • Tactical Trading
    • What is “news”?
    • Global Tactical Trading
    • Predictive Ability
    • Predictive Value
    • Adaptive Trend Following
    • Identifying Bear Market Bottoms and New Bull Markets … A Study of 90% Days 
    • Investors risk tolerance is asymmetric
    • S&P 500® Index
    • Sector Rotation
      • Sector Concentration Risk Disclosure
    • Technical Analysis
    • Trend Recognition
    • Volatility Expansion
    • Impermanence
      • Inflection Point
    • Asymmetric Betting
    • Dynamic Risk Management
    • Factor Investing
    • Intermarket Analysis
    • Math of Loss
      • When diversification fails
    • Pure Trend Following
    • Reward to Risk Calculation
    • Trend Following
    • Asymmetry of Returns
    • Systematic Trading
    • Discretionary Trading
    • Knoxville Financial Advisor
    • Knoxville Tennessee Investment Advisor
    • Asymmetric Drawdown
    • Risk & Reward
    • S&P 500 Index
    • Advance Decline Line
    • CAN SLIM Investment System
    • Folio Institutional
    • Investment Advisor using Folio Institutional
    • Return Drivers
    • Systemic Risk
    • Buy and Holding Investing
    • Asymmetric ETF
      • Asymmetry® ETFs for Asymmetric Investment Returns
    • Global Tactical Rotation®
    • Realized Risk True Risk Actual Risk
    • Asymmetric Return
      • Asymmetric Correlation
      • Asymmetric Upside
    • Forecasting ETFs with Machine Learning Algorithms
    • Description, Definition, and Classification
    • Investments with asymmetric returns
    • Seeking Asymmetric Returns
    • How Asymmetric is U.S. Stock Market Volatility?
  • Terms and Conditions

Research Papers

Research papers on the topics of global tactical trading, global macro strategy, volatility trading, directional trend following, momentum, relative strength.

TREND FOLLOWING: Directional Trend Following and Systematic Trend Following

A Century of Evidence on Trend-Following Investing

Two Centuries of Trend Following (2014)

 

 

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ASYMMETRY® ASYMMETRY Investment Program® ASYMMETRY Capital Partners®, Global Tactical Rotation® are registered service marks of Shell Capital Management, LLC

ASYMMETRY® Observations

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