NDW Model Competition Update
We are now one full month into the NDW Custom Model Competition. As a group, our competitor models are a bit worse off than they were at our last our performance update as even the top performing model is now slightly in the red (and slightly behind the S&P 500 over the same period). This has been a challenging period for trend following strategies as the existing leadership (i.e., semiconductors and other AI-related segments of the market) were mostly lower in July. The negative effects of the leaders lagging was potentially compounded as some trend following strategies may have exited positions soon before semis rallied at the end of July. That being said, we are only a third of the way through our three-month competition so there is still time for trends to solidify and our competitor models to regain their footing.
