“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 all-important to carefully examine how market indicators function in a spectrum of market conditions. The effectiveness over several complete market cycles is the criterion by which a consistent and recurring characteristic is likely to be repeated. Many compare their annual performance to the S&P 500® composite index, and Z-alpha does as well, bound by the Z-alpha Signal’s detailed usage, which is the fundament of the methodology that adheres to a capital preservation discipline.
*Having a capital preservation set strategy and marginally underperforming the S&P 500® in some years with considerably less market risk is a favorable result.
Performance figures (Unaudited) are clear-cut by using the S&P 500® cash index value when the Z-alpha Signal changes status in – real-time – and represents the mathematical computation of this process. The performance figures do not represent proceeds from dividend reinvestment or the use of margin to create leverage.
All prior (714) Z-alpha Signals (1990-2023) are archived, kept in reserve, and made available when suitable for the application.
- For the (34) years that ended on December 31, 2023, the Z-alpha Signal has an average annual result of 22.71%.
- Current results can fluctuate widely and may be lower or higher than the performance YTD data cited.
- Reported Date: March 28, 2024 | Z-alpha Signal™ YTD: 5.07% | S&P 500® YTD: 10.15%
| 2023 | 2022 | 2021 | 2020 | 2019 | ||||||
| Z-alpha™ | 17.53% | -12.19% | 19.86% | 19.68% | 23.29% | |||||
| S&P 500® | 24.22% | -19.44% | 26.89% | 16.26% | 28.88% | |||||
| 2018 | 2017 | 2016 | 2015 | 2014 | ||||||
| Z-alpha™ | 47.68% | 18.13% | 23.78% | 14.72% | 25.54% | |||||
| S&P 500® | -6.24% | 19.42% | 9.54% | -0.73% | 11.39% | |||||
| 2013 | 2012 | 2011 | 2010 | 2009 | ||||||
| Z-alpha™ | 31.28% | 15.18% | 23.69% | 35.61% | 45.07% | |||||
| S&P 500® | 29.60% | 13.41% | 0.00% | 12.78% | 23.45% | |||||
| 2008 | 2007 | 2006 | 2005 | 2004 | ||||||
| Z-alpha™ | 12.87% | 9.80% | 10.18% | 15.35% | 22.84% | |||||
| S&P 500® | -38.49% | 3.53% | 13.62% | 3.00% | 8.99% | |||||
| 2003 | 2002 | 2001 | 2000 | 1999 | ||||||
| Z-alpha™ | 27.84% | 37.72% | 30.76% | 24.44% | 20.59% | |||||
| S&P 500® | 26.38% | -23.37% | -13.04% | -10.14% | 19.53% | |||||
| 1998 | 1997 | 1996 | 1995 | 1994 | ||||||
| Z-alpha™ | 49.28% | 32.52% | 24.03% | 19.17% | 10.30% | |||||
| S&P 500® | 26.67% | 31.01% | 20.26% | 34.11% | -1.54% | |||||
| 1993 | 1992 | 1991 | 1990 | |||||||
| Z-alpha™ | 9.17% | 11.27% | 34.55% | 20.68% | ||||||
| S&P 500® | 7.06% | 4.46% | 26.31% | -6.56% |