Kettera Strategies' Heat Map for January 2021
In the world of hedge funds, January 2025 presented a mixed bag of results across various sectors.
The model-driven global macro camp faced challenges, with commodities offering frustration and few quant managers ending the month profitably. However, some managers were able to profit by being correctly positioned to catch weakening fixed income prices.
In the realm of managed futures, the CBOE Eurekahedge Relative Value Volatility Hedge Fund Index and the Eurekahedge AI Hedge Fund Index were mentioned. Systematic Trend Programs, which maintained long positions in commodities, were short North American fixed income, and kept G10 currency exposure to a minimum, had the best luck in January.
Equities markets were somewhat lucrative in January, with the timing of reducing exposures toward month-end being a large factor. The Eurekahedge-Mizuho Multi-Strategy Index, a blend of BarclayHedge Equity Market Neutral Index and Eurekahedge Equity Mkt Neutral Index, was also mentioned.
In the Equities Long/Short sector, most programs were net positive in January, but the dispersion of returns among L/S equities was staggering. This was influenced by Reddit-inspired retail investors banding together to spark a rally in beleaguered stocks that were among the most-shorted in hedge fund land.
Cryptocurrency traders experienced their best month ever in January, with Bitcoin surpassing $40,000 for the first time. The relationship between Bitcoin and Ethereum yielded some interesting opportunities, as the ratio between the two dropped from a relatively high 42.0 to 26.0 by month-end.
Kettera Strategies, known for managed futures and commodities trading programs, including both directional and relative value strategies in various sectors like agriculture, reported positive returns in January. They attributed these returns to long corn and soybean positioning, as well as from spread / relative value programs, such as KC vs Chicago wheat spreads and reverse cattle crush spreads.
However, current, monthly performance data—specifically January results for Ag commodities—would typically be available directly from Kettera Strategies' official performance reports or industry databases that track commodity trading advisors (CTAs) and systematic trading strategies. Since no specific January 2025 performance data for these programs from Kettera Strategies appeared in the search results, I cannot provide verified information on their top-performing directional or relative value agricultural commodity programs for that period.
It is recommended to consult Kettera Strategies' official monthly newsletters, performance reports, or industry performance trackers such as BarclayHedge or EurekaHedge for updated rankings.
Disclaimer: The views expressed in this article are those of the author and not necessarily those of AlphaWeek or its publisher, The Sortino Group.
- Technology in the field of hedge funds could potentially revolutionize investing strategies, as seen with the success of Reddit-inspired retail investors using technology to band together and spark rallies in stocks, influencing the Equities Long/Short sector.
- The intersection of finance and technology also extends to the realm of sports, with cryptocurrency traders enjoying their best month ever in January, as Bitcoin surpassed $40,000 for the first time, while the relationship between Bitcoin and Ethereum generated interesting investment opportunities.
