“The way to outperform over the long-term is to effectively hedge the downside risk in volatile market conditions, which then provides the differential advantage of not always being required to outperform in calmer market conditions.” Z-alpha circa, 1995
It is really important to examine carefully how market indicators function in a variety of market conditions. The effectiveness metric over complete market cycles is the pattern to which a consistent and recurring characteristic is likely to be repeated. Many compare their annual performance to the S&P 500® composite index, and the Z-alpha Trading System does likewise under the Z-alpha Signal purposely detailed use. Having noted that, and an eye toward regulating complacency within our organizational culture, the average annual return (AAR) value has been applied for the most part throughout the years as the higher hurdle in-house benchmark.
Z-alpha Trading System is perpetually dedicated to stewarding investments and maintains an unyielding conviction that all (actual or simulated) financial published performance returns are hypothetical by default. At the most basic level, it is practically impossible for two nonidentical accounts (yours and ours) to have the exact trade confirmations void of slippage during the order entry process. Secondarily, even a portfolio grouping or trading system whose constituents each have actual track records must still be considered hypothetical, as the constituents may not have traded simultaneously. Per contra, we verify performance as described below.
Provided results are clear-cut by using the S&P 500® cash index value when the Z-alpha Signal changes status in real-time and merely represents the mathematical authenticity of this process. Notably, the stated results do not represent proceeds from dividend reinvestment or the use of margin to create leverage. Note, too, that all of the returns shown in this report represent past performance, which is not a guarantee of future results. Current results can fluctuate widely and may be lower or higher than the performance YTD data cited. For the (32) years ended December 31, 2021, the Z-alpha Signal recorded an average annual result of 24.86%.
Reported Date: May 27, 2022 | Z-alpha Signal YTD: -9.06% | S&P 500® YTD: -12.76%
| 2021 | 2020 | 2019 | 2018 | 2017 | ||||||
| Z-alpha™ | 19.86% | 19.68% | 23.29% | 47.68% | 18.13% | |||||
| S&P 500® | 26.89% | 15.78% | 28.88% | -6.25% | 19.43% | |||||
| 2016 | 2015 | 2014 | 2013 | 2012 | ||||||
| Z-alpha™ | 23.78% | 14.72% | 25.54% | 31.28% | 15.18% | |||||
| S&P 500® | 9.54% | -0.73% | 11.42% | 29.59% | 13.35% | |||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||
| Z-alpha™ | 23.69% | 35.61% | 45.07% | 12.87% | 9.80% | |||||
| S&P 500® | 0% | 12.83% | 23.48% | -38.49% | 3.53% | |||||
| 2006 | 2005 | 2004 | 2003 | 2002 | ||||||
| Z-alpha™ | 10.18% | 45.07% | 22.84% | 27.84% | 37.72% | |||||
| S&P 500® | 13.62% | 23.48% | 8.99% | 26.36% | -23.34% | |||||
| 2001 | 2000 | 1999 | 1998 | 1997 | ||||||
| Z-alpha™ | 30.76% | 24.44% | 20.59% | 49.28% | 32.52% | |||||
| S&P 500® | -13.03% | -10.14% | 19.53% | 26.70% | 30.90% | |||||
| 1996 | 1995 | 1994 | 1993 | 1992 | ||||||
| Z-alpha™ | 24.03% | 19.17% | 10.30% | 9.17% | 11.27% | |||||
| S&P 500® | 20.29% | 34.20% | -1.50% | 6.88% | 4.56% | |||||
| 1991 | 1990 | |||||||||
| Z-alpha™ | 34.55% | 20.68% | ||||||||
| S&P 500® | 26.36% | -6.52% |