Research
Academic trading research, explained. We break down the most important quantitative finance papers into clear, actionable insights.
The Amaranth Blowup: What a $6.6 Billion Loss Teaches Systematic Traders About Position Sizing
Amaranth Advisors lost $6.6 billion in natural gas spread trades in September 2006 after holding positions equal to 4...
Trading Black Swan Events: Mean Reversion Strategies for S&P 500 Outliers
A 2020 study on S&P 500 stocks shows that Daily and 3-STD Black Swan signals outperform buy-and-hold with a 12.47% re...
How Walk-Forward Window Length Affects Crypto EMA Strategy Performance
Researchers tested 81 walk-forward window length combinations on an EMA crossover strategy using intraday Bitcoin dat...
Enhancing Global Equity Returns: Trend-Following and Tail Risk Hedging Overlays
A 2025 study finds that overlaying trend-following and tail risk hedging on a global equity portfolio raised CAGR fro...
Multi-Asset Momentum and Trend-Following in 2016
The TrendFolios framework combines momentum and trend-following signals across 21 ETFs in three asset classes, rebala...
Momentum Trading for Individual Investors: What the Research Shows
A 2015 study of 19 years of NYSE data quantifies when long-only momentum strategies are profitable after realistic tr...