XLK: 29-day history, VaR(99%)=-0.0254, max drawdown threshold=10%.

Question:
Asset: XLK
Daily returns (past 29 days): mean=0.0011, std=0.0113, worst_day=-0.0293
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2015-02-13] ["London wants a piece of New York\u2019s startups U.K. led startup funding in Europe last month, raising $294 million The U.K. government launched a new initiative called HQUK this week to try and lure foreign businesses to the British isles.", "Goldman traded its reputation for quick profits It was once known as an investment bank but now it\u2019s a hedge fund It was once known as an investment bank but now it\u2019s a hedge fund, says David Weidner.", "Apple price target raised to $135 at BMO Capital Markets", "Apple price target raised to $150 at UBS", "Apple developing 'mega-ecosystem' as target raised to $150 NEW YORK (MarketWatch) - Apple Inc.'s price target was raised to $150 at UBS and to $135 at BMO Capital Markets on Friday, as analysts continue to grow more bullish on the iPhone maker's product line. On Thursday, Apple's stock closed at a record split-adjusted high of $126.46, valuing the company at more than $736 billion, the highest valuation of any U.S. company in history. UBS analyst Steven Milunovich, who rates Apple a buy, said Apple is creating a \"mega-ecosystem\" that is quickly turning the company into a platform, rather than just a device, company. \"Apple the platform company may take it to $1 trillion,\" he said. At $150, UBS is one of the most bullish brokerages on Apple's stock, behind just Cantor Fitzgerald, which has a $160 target on Apple. Meanwhile, BMO analyst Keith Bachman, who has an outperform rating on the stock, said he thinks Apple is adding \"far more users than are leaving the brand\" and that its fiscal 2015 iPhone unit forecast may be conservative. Shares of Apple edged 0.4% higher to $126.98 in premarket trade. To get to a $1 trillion market valuation, shares of Apple will have to reach $172.", "Apple\u2019s expanding \u2018Appleverse\u2019 will lure you in Apple creating mega-ecosystem as target raised to $150 at UBS Apple wants iOS to permeate all aspects of consumers\u2019 lives, more than it already does.", "Lovelorn single people should move to these cities Some singletons this Valentine\u2019s Day may be looking for love in all the wrong places (or cities).", "Week in Review: Musk, Holocaust Chic and Homer go into \u2018insane mode\u2019 Marek Fuchs reviews the top events of the week, including news from Elon Musk, Holocaust Chic and Homer Simpson.", "American Express: After Costco, the Deluge", "10 biggest financial-market events this week Rising oil prices, energy stocks, Greece and Ukraine led the news Rising oil prices, energy stocks, Greece and Ukraine led the news.", "Groupon rallies as Zynga sinks; Tesla struggles Apple shrugs off analysts\u2019 price target hikes Groupon, Zynga, Tesla, and Apple are among notable movers in Friday\u2019s session.", "David Tepper's Appaloosa slashes equity holdings; closes Apple, Facebook positions NEW YORK (MarketWatch) -- David Tepper's hedge fund Appaloosa Management disclosed that the value of its equity holdings were reduced by 40% late last year, accor

Determine the maximum fraction of total portfolio capital that should be allocated to XLK, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0254 (i.e., a 2.54% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0254 = 3.9420, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLK: 60-day history, VaR(99%)=-0.0268, max drawdown threshold=10%.

Question:
Asset: XLK
Daily returns (past 60 days): mean=0.0016, std=0.0102, worst_day=-0.0285
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2021-07-28] ["LG will reportedly sell iPhones in its South Korean stores LG has confirmed that it will start selling iPhones and other Apple products in its South Korean stores next month,", "The Morning After: iPhone sales are up 50 percent year over year Today\u2019s headlines: iPhone sales are up 50 percent year over year, Activision Blizzard employees plan walkout over harassment lawsuit response and Tesla pushes back Semi truck release to 2022.", "Stock futures mixed as investors digest tech earnings, await Fed Stock futures struggled for direction Wednesday morning, with investors digesting a slew of Big Tech earnings results and looking ahead to another set of reports. A monetary policy statement from the Federal Reserve is also slated for release.", "Nura finally goes fully wireless with the NuraTrue buds It\u2019s also been a core part of Nura\u2019s DNA since the beginning. Everything Nura does is built around its audio technology \u2014 something that\u2019s held true since before I had the opportunity to try the original Nuraphones as a prototype with a big, unsightly circuit board attached. Announced today, NuraTrue mark the company\u2019s third entry into the headphone market, following the over-ear Nuraphones and the tethered Nuraloop.", "Google unveils its proposed 'safety section' for apps on Google Play In the wake of Apple's advances into consumer privacy with initiatives like App Tracking Transparency and App Store privacy labels, Google recently announced its own plans to introduce a new \"safety section\" on Google Play that offers more information about the data apps collect and share, and other security and privacy details. In May, Google explained the safety section would be designed to easily communicate to users how apps are handling their data so they could make informed choices. It said app developers would need to disclose to users whether their app uses security practices like data encryption, whether it follows Google Play's Families policy for apps aimed at kids, whether users have a choice in data sharing, whether the app's safety section had been verified by a third party, and if the app allowed users to request data deletion at the time of uninstalling, among other things.", "Spotify's podcast ad revenue jumps 627% in Q2 In the minutes before its quarterly earnings call this morning, Spotify played advertisements for its Originals & Exclusives, like the true crime show \"Deathbed Confessions,\" and the sex and relationships podcast \"Call Her Daddy,\" which Spotify recently acquired in a deal worth $60 million. Sure, it's kind of hilarious to hear a recording of host Alex Cooper's voice say, \"Hey, daddy gang!\" as investors log in to an 8 AM call, but the subtext rang clear: Spotify is serious about growing its podcast business. Given how many podcasting companies Spotify has acquired over the past few years, it would be concerning if there hadn't been significant growth in this realm.", "Shopify's Q2 results beat estimat

Determine the maximum fraction of total portfolio capital that should be allocated to XLK, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0268 (i.e., a 2.68% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0268 = 3.7337, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ETH-USD: 60-day history, VaR(99%)=-0.1278, max drawdown threshold=10%.

Question:
Asset: ETH-USD
Daily returns (past 60 days): mean=-0.0011, std=0.0381, worst_day=-0.1593
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to ETH-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.7824

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1278 (i.e., a 12.78% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1278 = 0.7824, capped at 1.0.
Maximum position size = 0.7824 (78.2% of portfolio).


FXI: 60-day history, VaR(99%)=-0.0349, max drawdown threshold=10%.

Question:
Asset: FXI
Daily returns (past 60 days): mean=-0.0008, std=0.0115, worst_day=-0.0399
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2019-10-09] ["Monness Crespi Hardt becomes latest to slash its Netflix price target on competition concerns Monness Crespi Hardt became the latest house to slash its stock price target for Netflix Inc. on Wednesday, when it shaved $100 off its target to lower it to $340. Analyst Brian White reiterated his buy rating on the stock in a note to clients ahead of the streaming company's third-quarter earnings next week. \"In light of the weakening macro environment since Netflix last provided guidance, combined with more details last month from Apple around its planned launch of Apple TV+ and incremental data points around increasingly fierce competition for content, we are adjusting our estimates for Netflix accordingly and lowering our 12-month price target to $340 from $440,\" White wrote. Evercore analyst Vijay Jayant slashed his Netflix price target to $300 from $380 on Monday, also citing concerns about coming competition from providers including Disney . Netflix shares were up 0.4% premarket but have fallen 24% in the last 12 months, while the S&P 500 has gained 0.4%.", "Apple blasted by China\u2019s state media for \u2018unwise and reckless decision\u2019 to allow apps that help Hong Kong protesters A separate newspaper identified the app as HKmap.live Apple accused of offering a mobile app that \u201cclaims to provide transportation information for the convenience of the public,\u201d but instead identifies police locations, the China paper says.", "China Trade Speed Bumps May Keep Haunting Investors U.S. stock futures are climbing on hopes that China may be ready to agree a partial trade deal, in a week that has whipsawed investors around over worries that talks between the two countries face big headwinds.", "Tech investors need to brace for this pivotal $160 billion \u2018gut punch\u2019 in December, says analyst Dan Ives Critical information for the U.S. trading day Our call of the day warns investors to mark their calendar for a \u201cpivotal $160 billion\u201d crucial moment ahead for the tech space.", "Apple Stock Is Beating the Market. Analyst Expects More Gains. Canaccord cited the success of the iPhone 11 and growth in the services business. The launch of Apple TV+ in November could give the stock an extra push.", "The Dow Is Up 146 Points Because Hopes Are Up for a China Trade Deal Stocks are holding onto gains approaching midday Wednesday. Investors are still hanging onto hope that there could be some progress on trade when the U.S. and China resume tariff talks tomorrow.", "Netflix Stock Could Take a Hit From Rising Content Costs, Analyst Says Rosenblatt Securities says Netflix stock is not attractive even after its big decline in recent months.", "Google is working on 5G version of smartphone: report Alphabet Inc.\u2019s Google will probably join the 5G fray in 2020, leaving Apple Inc. as the last major vendor to announce its plans Alphabet Inc. is working on a 5G-version of its Pixel 4 smartphone, but don\u2019t expect a sneak peek next we

Determine the maximum fraction of total portfolio capital that should be allocated to FXI, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0349 (i.e., a 3.49% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0349 = 2.8678, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


USMV: 60-day history, VaR(99%)=-0.0235, max drawdown threshold=10%.

Question:
Asset: USMV
Daily returns (past 60 days): mean=0.0001, std=0.0058, worst_day=-0.0253
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2018-10-15] ["GoPro to Sell Curated Video Clips to the Adobe Stock Marketplace", "Adobe Sees FY19 Total Adobe Sales Growth ~20% Year Over Year, Sees Digital Media Annualized Recurring Sales ~$1.4B Of Net New ARR", "Adobe Reaffirms Q4 Sales, EPS Guidance", "UPDATE: Adobe Reaffirms Q4 Guidance: Sales ~$2.42B vs $2.43B Estimate, Adj. EPS $1.87 vs $1.89 Est.", "Adobe To Host Call Mon., Oct. 15, 2018 At 5 p.m. EDT To Discuss Numerous Drivers For Growth Of Total Addressable Market To Expand From ~$83M In 2020 To ~$108M By 2021", "Adobe shares are up 5.8% after the company reaffirmed Q4 guidance; The company sees 20% year-over-year sales growth in FY19.", "5 Stocks Moving In Tuesday's After-Hours Session", "5 Stocks Moving In Tuesday's After-Hours Session", "Adobe shares are up 5.8% after the company reaffirmed Q4 guidance; The company sees 20% year-over-year sales growth in FY19.", "Adobe To Host Call Mon., Oct. 15, 2018 At 5 p.m. EDT To Discuss Numerous Drivers For Growth Of Total Addressable Market To Expand From ~$83M In 2020 To ~$108M By 2021", "UPDATE: Adobe Reaffirms Q4 Guidance: Sales ~$2.42B vs $2.43B Estimate, Adj. EPS $1.87 vs $1.89 Est.", "Adobe Sees FY19 Total Adobe Sales Growth ~20% Year Over Year, Sees Digital Media Annualized Recurring Sales ~$1.4B Of Net New ARR", "Adobe Reaffirms Q4 Sales, EPS Guidance", "GoPro to Sell Curated Video Clips to the Adobe Stock Marketplace", "Factors Setting the Tone for SAP SE (SAP) in Q3 Earnings SAP SESAP is scheduled to report third-quarter 2018 results on Oct 18. Notably, the company has a mixed record of earnings surprises in the trailing four quarters, with an average beat of 5.6%. The company reported second-quarter 2018 non-IFRS earnings of \u20ac0.98 ($1.17) per share, up 4.3% on a year-over-year basis. However, the bottom line fell short of the Zacks Consensus Estimate of $1.18 per share. Total revenues, on non-IFRS basis, were \u20ac6.01 billion ($7.15 billion), up 4% year over year (up 10% at constant currency), exceeding the Zacks Consensus Estimate of $7.11 billion. A flourishing cloud business and strong growth of support revenues aided top-line growth in the last reported quarter. What to Expect? The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.26 per share, indicating an increase of 5.9% on a year-over-year basis. Revenues are estimated to be around $6.97 billion, indicating a rise of 6.1% from the year-ago quarter. Let's see how things are shaping up for this announcement. Factor Influencing Q3 Results SAP's Cloud and Software business have been consistent growth drivers for quite some time. In fact, Cloud and software business revenues came in at \u20ac5.25 billion in the second quarter, up 4% year over year driven by Cloud subscriptions & support revenues of \u20ac1.30 billion, which surged 40% from the year-ago quarter. Further, the company's human capital management (''HCM'') applications continue to boost the top line, including the likes of SuccessFactors and SAP Fieldgl

Determine the maximum fraction of total portfolio capital that should be allocated to USMV, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0235 (i.e., a 2.35% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0235 = 4.2496, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


AVAX-USD: 60-day history, VaR(99%)=-0.1355, max drawdown threshold=10%.

Question:
Asset: AVAX-USD
Daily returns (past 60 days): mean=-0.0001, std=0.0721, worst_day=-0.1362
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2022-07-19]

Determine the maximum fraction of total portfolio capital that should be allocated to AVAX-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.7382

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1355 (i.e., a 13.55% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1355 = 0.7382, capped at 1.0.
Maximum position size = 0.7382 (73.8% of portfolio).


AVAX-USD: 60-day history, VaR(99%)=-0.1420, max drawdown threshold=10%.

Question:
Asset: AVAX-USD
Daily returns (past 60 days): mean=-0.0038, std=0.0582, worst_day=-0.1912
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to AVAX-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.7040

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1420 (i.e., a 14.20% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1420 = 0.7040, capped at 1.0.
Maximum position size = 0.7040 (70.4% of portfolio).


VEA: 60-day history, VaR(99%)=-0.0223, max drawdown threshold=10%.

Question:
Asset: VEA
Daily returns (past 60 days): mean=0.0003, std=0.0103, worst_day=-0.0274
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2016-06-22] ["Keep an Eye on These 10 Stocks for June 22, 2016", "A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Yellen Speech", "JPMorgan Wanted More From Adobe", "12 Stocks Moving In Wednesday's Pre-Market Session", "Goldman Says Adobe Is Executing On Transition, But Asks What The Next Catalyst Could Be", "Citi Still Likes Adobe Shares Following Q2 Results", "The Market In 5 Minutes: Elon Musk's Trillion-Dollar Bet", "6 Largest Price Target Changes For Wednesday", "Slowing Digital Marketing Trend Could Weigh On Adobe Stock", "Canaccord Is Against The Majority On Adobe Systems: Reiterates Buy", "Adobe Might Not Have Done Enough This Quarter", "Adobe Had A 'Healthy' Q2 Beat", "Adobe's Slowing Digital Marketing Could Be An Overhang", "10 Biggest Mid-Day Losers For Wednesday", "RBC Reiterates Outperform On Adobe Shares", "Adobe Saw Continued Momentum In Its Creative Cloud, Says Deutsche Bank", "Adobe Saw Continued Momentum In Its Creative Cloud, Says Deutsche Bank", "RBC Reiterates Outperform On Adobe Shares", "10 Biggest Mid-Day Losers For Wednesday", "Adobe's Slowing Digital Marketing Could Be An Overhang", "Adobe Had A 'Healthy' Q2 Beat", "Adobe Might Not Have Done Enough This Quarter", "Canaccord Is Against The Majority On Adobe Systems: Reiterates Buy", "Slowing Digital Marketing Trend Could Weigh On Adobe Stock", "6 Largest Price Target Changes For Wednesday", "The Market In 5 Minutes: Elon Musk's Trillion-Dollar Bet", "Citi Still Likes Adobe Shares Following Q2 Results", "Goldman Says Adobe Is Executing On Transition, But Asks What The Next Catalyst Could Be", "12 Stocks Moving In Wednesday's Pre-Market Session", "JPMorgan Wanted More From Adobe", "A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Yellen Speech", "Keep an Eye on These 10 Stocks for June 22, 2016", "Adobe (ADBE) Beats Earnings and Revenue Estimates in Q2 Adobe Systems Inc.ADBE reported second-quarter fiscal 2016 earnings of 55 cents per share, which beat the Zacks Consensus Estimate by a couple of cents. Adjusted earnings per share exclude one-time items but include stock-based compensation expense. Better-than-expected earnings were backed by a strong adoption of cloud that led to record Creative and Marketing Cloud revenues and better-than-expected Digital Media ARR (Annualized Recurring Revenue) growth. However, the share price fell more than 4% in after-hours trading session due to a weaker-than-expected fiscal third-quarter revenue guidance. ADOBE SYSTEMS Price, Consensus and EPS Surprise ADOBE SYSTEMS Price, Consensus and EPS Surprise | ADOBE SYSTEMS Quote Revenues Adobe's revenues of $1.40 billion increased 1.1% sequentially and 20.4% year over year. Reported revenues were on the higher end of management's guided range of $1.365-$1.415 billion and above the Zacks Consensus Estimate of $1.394 billion. Subscription comprised 57% of Adobe's total first-quarter revenues, up 40% from the year-ago period. Products declined 28.4% year over year and contri

Determine the maximum fraction of total portfolio capital that should be allocated to VEA, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0223 (i.e., a 2.23% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0223 = 4.4805, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


VCIT: 60-day history, VaR(99%)=-0.0039, max drawdown threshold=10%.

Question:
Asset: VCIT
Daily returns (past 60 days): mean=0.0000, std=0.0016, worst_day=-0.0043
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to VCIT, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0039 (i.e., a 0.39% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0039 = 25.4155, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MORT: 60-day history, VaR(99%)=-0.0263, max drawdown threshold=10%.

Question:
Asset: MORT
Daily returns (past 60 days): mean=-0.0002, std=0.0115, worst_day=-0.0327
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to MORT, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0263 (i.e., a 2.63% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0263 = 3.7999, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


INDS: 60-day history, VaR(99%)=-0.0356, max drawdown threshold=10%.

Question:
Asset: INDS
Daily returns (past 60 days): mean=0.0001, std=0.0134, worst_day=-0.0391
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to INDS, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0356 (i.e., a 3.56% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0356 = 2.8078, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BIL: 60-day history, VaR(99%)=-0.0003, max drawdown threshold=10%.

Question:
Asset: BIL
Daily returns (past 60 days): mean=0.0000, std=0.0002, worst_day=-0.0003
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to BIL, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0003 (i.e., a 0.03% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0003 = 305.5951, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XRP-USD: 60-day history, VaR(99%)=-0.0820, max drawdown threshold=10%.

Question:
Asset: XRP-USD
Daily returns (past 60 days): mean=0.0030, std=0.0345, worst_day=-0.0968
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2022-09-20]

Determine the maximum fraction of total portfolio capital that should be allocated to XRP-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0820 (i.e., a 8.20% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0820 = 1.2200, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


USO: 60-day history, VaR(99%)=-0.0494, max drawdown threshold=10%.

Question:
Asset: USO
Daily returns (past 60 days): mean=-0.0027, std=0.0243, worst_day=-0.0509
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to USO, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0494 (i.e., a 4.94% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0494 = 2.0224, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MTUM: 60-day history, VaR(99%)=-0.0219, max drawdown threshold=10%.

Question:
Asset: MTUM
Daily returns (past 60 days): mean=0.0007, std=0.0088, worst_day=-0.0312
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2019-08-12] ["3 Great Stocks Beaten Down This Earnings Season This article was first published by MyWallSt. Find out more about MyWallSt's market-beating investing services now! If you follow Warren Buffett's long-term approach -- not owning a stock for 10 minutes if you wouldn't own it for 10 years -- then you should end up holding a stock for at least 40 quarterly earnings reports. Throughout the years, however, there are bound to be times when earnings fall below expectations or guidance is decreased. The best response to this is to ignore the urge to panic-sell and relax. Image source: Unsplash. Coming to the end of this earnings season, it can be a good opportunity to see if you still believe in a company, and if it still has the potential you saw when you first bought it. These three companies declined following their earnings reports, yet still have great promise. 1. Disney On Aug. 6, Walt Disney (NYSE: DIS) announced its third-quarter earnings. It reported earnings per share (EPS) of $1.35, under the expected value of $1.75. Disney blamed this underperformance on the disappointing results of Fox, increasing streaming investment costs, and weak theme park attendance. Following this announcement, shares dropped over 5%. Despite disappointing Wall Street, Disney still has significant potential. Disney's new streaming service, Disney+, launches on Nov. 12 and will prove to be a formidable competitor to Netflix (NASDAQ: NFLX). Not only will Disney+ offer exclusive Disney content, but the price of this service will be considerably cheaper, with Disney+ starting at $6.99 in comparison to $8.99 for Netflix. Furthermore, Disney announced that it will bundle Disney+, ESPN+, and Hulu for $12.99, expanding the target demographic of its subscription service. Over time, this platform will likely help the Fox acquisition become profitable. While park attendance may be down this quarter, revenue in this segment is up. Average spending at U.S. theme parks rose 10% thanks to an increase in food and merchandise spending, higher hotel occupancy, and a boost in ticket prices. Because of concerns about long wait times, Disney's new Star Wars theme park, Star Wars: Galaxy's Edge, saw a smaller crowd than anticipated, but Disney has introduced a new \"virtual queue\" system to provide a better experience for attendees. On Aug. 29, Disney is launching an Orlando-based Star Wars park, and with this new park opening in Disney's largest resort, there is no doubt that there will be a considerable revenue boost. An extensive range of intellectual properties has made Disney one of the most culturally significant companies that we see today. Long-term investors should not lose sleep over quarterly reports for this historic company. 2. Planet Fitness Planet Fitness (NYSE: PLNT), a gym franchise for novice and casual gym-goers, reported its Q2 earnings after the markets closed on Tuesday, Aug. 6. This report was overwhelmingly positive, with an EPS of $0.45, up from $0.31 last year a

Determine the maximum fraction of total portfolio capital that should be allocated to MTUM, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0219 (i.e., a 2.19% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0219 = 4.5705, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLB: 60-day history, VaR(99%)=-0.0276, max drawdown threshold=10%.

Question:
Asset: XLB
Daily returns (past 60 days): mean=0.0007, std=0.0103, worst_day=-0.0322
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2019-11-06] ["Robinhood glitch is letting users trade with unlimited amounts of borrowed cash Bug gives traders infinite leverage \u2014 but it\u2019s also a very bad idea to try A glitch in the stock-trading app Robinhood is allowing investors to trade with apparently unlimited amounts of borrowed money.", "Why Warren Buffett Should Buy Walgreens The Berkshire Hathaway CEO has been searching in vain for a large acquisition that could absorb a chunk of Berkshire\u2019s growing cash balance. Walgreens Boots Alliance could be it.", "Roku remains a promising stock even after this year\u2019s surge Roku is the most fairly valued pure play in the over-the-top space Roku is the most fairly valued pure play in the over-the-top space, writes Beth Kindig.", "Sonos could be the next hardware acquisition after Fitbit, says analyst D.A. Davidson analyst Tom Forte said Wednesday that Sonos Inc. looks well positioned to see its stock appreciate either due to improved investor perception or an acquisition, in the wake of Alphabet Inc.'s plans to purchase Fitbit Inc. \"On the bad block of hardware companies, we consider Sonos to be: 1) the best house on the block and 2) the one adjacent to the mansion on the neighboring block, Apple ,\" Forte wrote. He sees Sonos as similar to Apple due to his view that both companies make superior products with a focus on design and are able to charge more than competitors. \"We see Sonos as a natural acquisition target for Apple, given the similarities in: 1) product quality, 2) design acumen, and 3) premium brands,\" Forte wrote. \"Just as Fitbit fills a void for Google when it comes to healthcare-related data, acquiring Sonos could materially advance Apple's connected home efforts (an area we believe it needs improvement and where its own product, the HomePod, was a disappointment).\" Forte rates Sonos shares at buy with a $20 target price. The stock is up 37% so far this year as the S&P 500 has risen 23%, but it remains below its $15 initial-public-offering price from August 2018.", "Corporate tax avoidance demands a global solution The world should tax multinationals based on the destination of sales Multinational corporations have long avoided paying their full share of taxes, and time is running out to agree on a fair global solution.", "Apple Stock Is Up 65% This Year. More Gains Could Be Coming. The move has lifted the company\u2019s market valuation by $450 billion, to $1.114 trillion. Bank of America Merrill Lynch says the move can continue.", "How the Saudi Aramco IPO Will Affect Other Oil Giants When the world\u2019s largest oil producer goes public, it will surely mean a new dynamic for all the players in the oil industry.", "Apple expands privacy explanations on website, but actual policy remains unchanged The site updates are part of Apple\u2019s push to distinguish itself from data-hungry rivals Google and Facebook The site updates are part of Apple\u2019s push to distinguish itself from data-hungry rivals Google and Faceb

Determine the maximum fraction of total portfolio capital that should be allocated to XLB, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0276 (i.e., a 2.76% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0276 = 3.6198, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLV: 60-day history, VaR(99%)=-0.0179, max drawdown threshold=10%.

Question:
Asset: XLV
Daily returns (past 60 days): mean=0.0002, std=0.0084, worst_day=-0.0219
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2017-01-09] ["The Medicines Co LDL-Lowering Drug Positive in Phase II The Medicines CompanyMDCO announced positive top-line results from a Day 180 interim analysis of the ongoing ORION-1 phase II study on its pipeline candidate, Inclisiran (formerly PCSK9si), for the treatment of hypercholesterolemia. The Medicines Company is developing Inclisiran under a collaboration agreement with Alnylam Pharmaceuticals, Inc. ALNY , which was inked in early 2013. The Medicines Company is solely responsible for the development and commercialization of the candidate. The Medicines Company's three-month share price movement shows that the stock has outperformed the Zacks classified Medical - Biomedical and Genetics industry. Specifically, the company lost 1.7%, while the industry lost 3.7%. ORION-1 is a placebo-controlled, double-blinded, randomized, dose-finding phase II study. It compares and evaluates the effect of various doses of single or multiple subcutaneous injections of Inclisiran. The study was conducted in a total of 501 patients with atherosclerotic cardiovascular disease (ASCVD) or ASCVD-risk equivalents (hypercholesterolemia). Interim data demonstrated that Inclisiran led to a significant and durable reduction of LDL (low-density lipoprotein) cholesterol up to Day 210. Inclisiran was well tolerated throughout the study, with infrequent and mild or moderate injection site reactions. Data from the study will be presented at the annual meeting of the American College of Cardiology, scheduled to be held in Mar 2017. The company expects to move Inclisiran into phase III development (OROPN-4 study) after discussions with regulatory authorities. Meanwhile, the company announced the initiation of ORION-2 for evaluating the efficacy, safety and tolerability of Inclisiran in patients with homozygous familial hypercholesterolemia (HoFH). Moreover, the company commenced enrollment of ORION-1 patients in the phase II ORION-3 extension study, which will evaluate the efficacy, safety and tolerability of long-term dosing of Inclisiran. Note that, apart from Inclisiran, The Medicines Company has several interesting pipeline candidates targeting key focus areas. Three of these candidates - MDCO-216 (atherosclerotic plaque burden), ABP-700 (general anesthesia for surgical care) and Carbavance (treatment of hospitalized patients with serious gram-negative bacterial infections) - have blockbuster potential. The Medicines Company Price The Medicines Company Price | The Medicines Company Quote Zacks Rank & Other Key Picks The Medicines Company currently carries a Zacks Rank #2 (Buy). A couple of other favorably placed stocks in the health care sector include Orexigen Therapeutics, Inc. OREX and Arbutus Biopharma Corporation ABUS . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here . Orexigen's loss estimates widened from $8.93 to $8.17 for 2016 and from $5.19 to $2.17 for 2017 over the last 60 days. The company pos

Determine the maximum fraction of total portfolio capital that should be allocated to XLV, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0179 (i.e., a 1.79% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0179 = 5.5981, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


SLV: 60-day history, VaR(99%)=-0.0347, max drawdown threshold=10%.

Question:
Asset: SLV
Daily returns (past 60 days): mean=-0.0025, std=0.0127, worst_day=-0.0374
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to SLV, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0347 (i.e., a 3.47% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0347 = 2.8818, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ADA-USD: 60-day history, VaR(99%)=-0.0831, max drawdown threshold=10%.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=0.0024, std=0.0442, worst_day=-0.1007
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to ADA-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0831 (i.e., a 8.31% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0831 = 1.2039, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MATIC-USD: 60-day history, VaR(99%)=-0.1295, max drawdown threshold=10%.

Question:
Asset: MATIC-USD
Daily returns (past 60 days): mean=0.0068, std=0.0747, worst_day=-0.1762
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to MATIC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.7719

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1295 (i.e., a 12.95% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1295 = 0.7719, capped at 1.0.
Maximum position size = 0.7719 (77.2% of portfolio).


XHB: 60-day history, VaR(99%)=-0.0411, max drawdown threshold=10%.

Question:
Asset: XHB
Daily returns (past 60 days): mean=0.0021, std=0.0203, worst_day=-0.0411
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to XHB, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0411 (i.e., a 4.11% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0411 = 2.4331, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BTC-USD: 60-day history, VaR(99%)=-0.0642, max drawdown threshold=10%.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0080, std=0.0372, worst_day=-0.0686
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to BTC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0642 (i.e., a 6.42% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0642 = 1.5585, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


QQQ: 60-day history, VaR(99%)=-0.0158, max drawdown threshold=10%.

Question:
Asset: QQQ
Daily returns (past 60 days): mean=0.0015, std=0.0098, worst_day=-0.0166
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2016-05-06] FEYE Stock: FireEye Inc Tumbles, But It’s Not Beat InvestorPlaceInvestorPlace - Stock Market News, Stock Advice & Trading Tips Heading into the first-quarter earnings report for FireEye Inc ( FEYE ), Wall Street analysts weren't short on worries … and it looks like that anxiety was warranted. Source: David via Flickr (Modified) FireEye is cratering this morning, off 14% after a pretty lousy report and a change in the C-suite. The biggest news of the day is that CEO David DeWalt is out - and stepping in will be company President Kevin Mandia, who founded Mandiant , which FireEye paid $1 billion to acquire back in 2014. Mandia will take the reins on June 15, and DeWalt will slip back to jsut being executive chairman. But the change in leadership isn't coming because all is hunky-dory. The financials from FireEye's Q1 report were far from encouraging. 7 Blue Chips That Are Getting Ugly in a Hurry An adjusted loss of 47 cents per share came in 3 cents ahead of expectations, and billings - a vital stat in the software space - came in at $186 million to easily best estimates for $176.2 million. But revenues were weak, at $168 million versus expectations of $171.7 million, and guidance didn't please anyone. FEYE expects Q2 sales to come in between $178 million to $185 million, with the entire range falling below analysts' estimate of $192.75 million. Those numbers also represent a deceleration in the growth path for FireEye. Yes, revenues were up 34% year-over-year … but that's far less than the 69% growth it saw in Q1 2015. Similarly, billings growth declined from 53% to 23%. A Bright Side to FEYE Stock? But that said, FEYE is a company in transition. It has been struggling to revamp its product line for the cloud, as well as to offer subscriptions to customers. And those are the right moves - they simply take time to pull off. Just ask Adobe Systems Incorporated ( ADBE ). Plus, FireEye is making some bold plays to make the transition successful, including acquiring firms such as iSight Partners and Invotas . What's more, Mandia may be the right person to lead the charge. I recently talked to Paul Kraus, founder and CEO of Eastwind Networks , who said: "The board seems to believe he is a proven leader who can execute against FireEye's broader vision of monetizing its branded version of security-as-a service - FireEye-as-a-service or FaaS. "Can Mandia propel FireEye to achieve its top-line revenue projections for FaaS? That will likely unfold over the coming quarters and remains to be seen. Cybersecurity is a hyper-crowded and rapidly evolving sector, and Mandia will have a clear charter to continue to focus on services, grab market share, and eventually turn a profit." Of course, that's an uphill climb, considering FireEye will be trying to grab that market share against companies like Palo Alto Networks Inc ( PANW ) and Cyberark Software Ltd ( CYBR ), as well as mega-tech firms like Cisco Systems, Inc. ( CSCO ) and International Business Machines Corp

Determine the maximum fraction of total portfolio capital that should be allocated to QQQ, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0158 (i.e., a 1.58% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0158 = 6.3382, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BNB-USD: 60-day history, VaR(99%)=-0.1754, max drawdown threshold=10%.

Question:
Asset: BNB-USD
Daily returns (past 60 days): mean=0.0282, std=0.1111, worst_day=-0.1754
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to BNB-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.5701

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1754 (i.e., a 17.54% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1754 = 0.5701, capped at 1.0.
Maximum position size = 0.5701 (57.0% of portfolio).


XLK: 60-day history, VaR(99%)=-0.0187, max drawdown threshold=10%.

Question:
Asset: XLK
Daily returns (past 60 days): mean=0.0015, std=0.0072, worst_day=-0.0223
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2018-01-29] ["Alibaba, Foxconn lead big investment in Chinese electric-car maker Tech companies branch out into burgeoning industry Chinese e-commerce giant Alibaba Group Holding Ltd. and Foxconn Technology Group have co-led a 2.2 billion yuan ($348 million) funding round into Chinese electric-vehicle manufacturer Xiaopeng Motors, marking Alibaba\u2019s first big investment in a car maker", "Immersion enters settlement and license deal with Apple", "Immersion settles with Apple, reaches license agreements Immersion Corp. said Monday it has entered into settlement and license deals with Apple Inc. . Immersion, which develops touch feedback technology, had filed patent infringement lawsuits against Apple for technology used in iPhones and the trackpads used in MacBooks. Immersion said the terms of the agreements reached with Apple are confidential. The stock, which was still inactive in premarket trade, has tumbled 30% over the past 12 months, while the S&P 500 has gained 25%.", "Apple stock drops after report of iPhone X production cut Apple Inc. shares are down 0.5% in premarket trading Monday after a report in the Nikkei Asia Review said that the company planned to trim its iPhone X production target to 20 million for the March quarter, half of what it expected a few months ago. The Nikkei Asian Review attributes the production cut to lower-than-anticipated sales of the device. The phone's price tag of at least $999 could be a key reason for the demand issues, the publication said. Wall Street analysts have also been weighing in on the prospect of significantly weaker-than-expected iPhone X sales, with analysts at JP Morgan predicting last week that Apple would cut its build orders for the device by 50% in the March quarter, causing them to take a more cautious stance on a number of Apple suppliers. Apple shares are up 41% over the past 12 months, while the Dow Jones Industrial Average is up 30%.", "Robinhood\u2019s crypto biz has drawn nearly 1 million in user interest: Watch out Coinbase! Coinbase is the No. 1\u2013ranked U.S. crypto exchange platform over the past six months. Can Robinhood give it a run for its money in bitcoin, Ethereum trading? New-age brokerage platform Robinhood is jumping in on the cryptocurrency craze, declaring that it will allow trading in bitcoin and Ethereum\u2019s currency starting in February, with more virtual currencies expected to be added soon.", "This \u2018parabolic\u2019 move for stocks has some investors nervous, but should it? Critical information for the U.S. trading day Is this bull market finally starting to feel a bit top-heavy? According to official MarketWatch records, this marks the 698th time that very question has been asked in this space since Trump took office.", "\u2018Get Out\u2019 is headed back to theaters after its 4 Oscar nominations \u2018Get Out\u2019 grossed $254.7 million at box offices worldwide on just a $4.5 million production budget It has been almost a year since \u201cGet Out\u201d opened i

Determine the maximum fraction of total portfolio capital that should be allocated to XLK, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0187 (i.e., a 1.87% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0187 = 5.3434, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLU: 60-day history, VaR(99%)=-0.0254, max drawdown threshold=10%.

Question:
Asset: XLU
Daily returns (past 60 days): mean=0.0014, std=0.0090, worst_day=-0.0320
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2017-02-23] ["Winners And Losers From Apple iPhone 8\u2032s Super Cycle Not all components are created equal. As Apple (AAPL) starts to build iPhone 8, it will enhance certain features and ditch others.The biggest winners from iPhone 8 are the OLED suppliers; in this case, Samsung Electronics (SSNLF), and the biggest losers are the LCD suppliers, such as Sharp (6753.Japan) and Japan Display (6740.Japan). But Apple is also expected to ditch metal casing and go for glass casing, which is not good news for Catcher Technology (2474.Taiwan).\"Our research suggests that the key cost difference between i8 vs i7 are OLED panel, camera, wireless charging and speaker,\" according to Citi Research.READ MORE.", "Uber harassment scandal will hurt, but not in same way as #DeleteUber campaign Uber maintained lead on Lyft in daily downloads over holiday weekend, but employee recruitment will likely be affected Uber is facing another brand crisis, but experts say it\u2019s unclear how much of an impact it will have on the ride-hailing service.", "Apple: We strongly believe that transgender students should be treated as equals", "Intel Could Shine in iPhone Next Year, Says Susquehanna Intel (INTC) could have a much stronger showing in Apple\u2019s (AAPL) next iPhone, writes Susquehanna\u2019s Christopher Rolland today, reiterating a \u201cPositive\u201d rating on the stock, and a $45 price target, thanks to new modem products that make it more competitive with wireless chip titan Qualcomm (QCOM).Citing the announcement this week by Intel, in advance of the Mobile World Congress show in Barcelona next week, of a new baseband modem, the \u201cXMM 7560,\u201d Rolland observes that Intel\u2019s gains against Qualcomm in the iPhone 7 last year were despite the fact the existing part didn\u2019t support the \u201cCDMA\u201d cellular technology, which this new one does.\"We believe CDMA support was a gating issue in winning the majority of iPhone 7 sockets as select global carriers require the standard (including Verizon and Sprint),\u201d writes Rolland. \"Additionally, the inclusion of CDMA support may allow Intel to capture modem sockets at other OEMs in 2H17 and beyond.\"", "Garmin: All 12 Analysts, Still at a Hold, Doubt the Growth Outlook Shares of mobile and wearables pioneer Garmin (GRMN) are down $1.28, or 2.4%, at $52.87, giving up some gains after yesterday\u2019s 7% jump following yesterday morning\u2019s announcement of Q4 earnings that topped analysts expectations by a wide margin, and a forecast for this year\u2019s revenue slightly higher than consensus.The quarter was marked by favorable sales trends for the company\u2019s \u201cFenix\u201d activity tracker, and also a deal with BMW to supply infotainment parts for model year 2020 autos in China.Despite the beat, the skepticism is high from a number of analysts in the past 24 hours.", "Facebook is racking up the likes among the world\u2019s biggest hedge funds Smart money loaded up on financials in the fourth quarte

Determine the maximum fraction of total portfolio capital that should be allocated to XLU, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0254 (i.e., a 2.54% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0254 = 3.9344, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MORT: 60-day history, VaR(99%)=-0.0446, max drawdown threshold=10%.

Question:
Asset: MORT
Daily returns (past 60 days): mean=0.0030, std=0.0258, worst_day=-0.0446
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to MORT, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0446 (i.e., a 4.46% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0446 = 2.2411, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


LINK-USD: 60-day history, VaR(99%)=-0.0840, max drawdown threshold=10%.

Question:
Asset: LINK-USD
Daily returns (past 60 days): mean=-0.0038, std=0.0407, worst_day=-0.0981
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to LINK-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0840 (i.e., a 8.40% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0840 = 1.1903, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


TLH: 60-day history, VaR(99%)=-0.0079, max drawdown threshold=10%.

Question:
Asset: TLH
Daily returns (past 60 days): mean=0.0009, std=0.0041, worst_day=-0.0102
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to TLH, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0079 (i.e., a 0.79% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0079 = 12.6706, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ICSH: 60-day history, VaR(99%)=-0.0004, max drawdown threshold=10%.

Question:
Asset: ICSH
Daily returns (past 60 days): mean=0.0000, std=0.0002, worst_day=-0.0004
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to ICSH, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0004 (i.e., a 0.04% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0004 = 250.1990, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


IVV: 60-day history, VaR(99%)=-0.0079, max drawdown threshold=10%.

Question:
Asset: IVV
Daily returns (past 60 days): mean=0.0010, std=0.0041, worst_day=-0.0082
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2017-03-07] ["LG Electronics Soars On Firm LCD Pricing, But Smartphone Business Drags LG Electronics (066570.Korea) soared 4.2% on Tuesday amid heavy buying after the latest LCD panel prices data alleviated market fears that the LCD panel cycle is peaking out soon.In the first week of March, LCD panel prices across different screen sizes stayed firm and the large-screen 65 inch TVs actually saw an increase in sales price.READ MORE.", "Go Long China, Short US: 5 Smart Stock Trades Concerns that U.S. stocks are overvalued may mean it\u2019s time to buy their cheaper Chinese rivals.", "Most Investors Already Bullish On Apple\u2019s iPhone 8: Any Upside Left? After meeting with over 150 investors globally, JP Morgan concluded that most investors are already on board with the Apple (AAPL) iPhone 8 super cycle trade.\"We agree that street expectations of ~100M units of new iPhone builds in 2H17 are now hard to exceed, but upside is likely to come from OLED iPhone mix and much higher ASPs. We have been advising investors to position into explicit OLED iPhone plays like Hon Hai, Samsung SDI or content gainers like WinSemi,LG Innotek and Lens Tech,\" reports JP Morgan.READ MORE.", "Which Tech Companies Will Win The Augmented Reality Race? Plenty of people have been wary of Snap Inc.'s (SNAP) worth as a social media company, but some may be buying the stock for its future as a camera company, and as a player in augmented reality (AR).Former Piper Jaffray analyst Gene Munster, who now works at AR and VR-focused venture capital firm writes that the question is broader than just Snap, however: With AR primed to come online in the next few years through existing operating systems, Munster has a new report out ranking how major tech players fare in the race to the new reality.", "House Republican Jason Chaffetz dangles Sophie\u2019s choice: Your iPhone or your health? \u2018Good morning to everyone except Jason Chaffetz\u2019 Republicans unveiled new legislation this week to replace Obamacare and fix what President Trump describes as \u201ca complete and total disaster.\u201d Some sacrifices may be required, says Jason Chaffetz.", "Wall Street is at the very heart of American innovation: author Top politicians, says writer William D. Cohan, have bipolar relationships with Wall Street \u2014 at best We need to understand Wall Street better, focusing not only on uncovering abuses but on the larger picture, placing even those probes into problem areas, which he said are often merited, into a broader context that includes Wall Street\u2019s manifold services and innovations, argues William D. Cohan, author of \u201cWhy Wall Street Matters.\u201d", "Threat Of US Protectionism Not Fully Priced Into Tech Markets: Morgan Stanley Morgan Stanley\u2019s Shawn Kim and team recently took a look at Asian technology companies, arguing that the risk of US protectionism isn\u2019t fully priced into markets.They write that the tech sector is very exposed to the risk that policies will punis

Determine the maximum fraction of total portfolio capital that should be allocated to IVV, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0079 (i.e., a 0.79% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0079 = 12.7307, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ADA-USD: 60-day history, VaR(99%)=-0.1761, max drawdown threshold=10%.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=-0.0045, std=0.0742, worst_day=-0.1761
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to ADA-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.5678

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1761 (i.e., a 17.61% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1761 = 0.5678, capped at 1.0.
Maximum position size = 0.5678 (56.8% of portfolio).


VTI: 60-day history, VaR(99%)=-0.0260, max drawdown threshold=10%.

Question:
Asset: VTI
Daily returns (past 60 days): mean=-0.0001, std=0.0074, worst_day=-0.0324
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2018-10-16] ["12 Stocks To Watch For October 16, 2018", "Barclays Maintains Overweight on Adobe, Raises Price Target to $304", "Adobe shares are trading higher after the company reaffirmed Q4 guidance and said it expects revenue to increase 20% in 2019.", "26 Stocks Moving In Tuesday's Pre-Market Session", "10 Biggest Price Target Changes For Tuesday", "40 Stocks Moving In Tuesday's Mid-Day Session", "40 Stocks Moving In Tuesday's Mid-Day Session", "10 Biggest Price Target Changes For Tuesday", "26 Stocks Moving In Tuesday's Pre-Market Session", "Adobe shares are trading higher after the company reaffirmed Q4 guidance and said it expects revenue to increase 20% in 2019.", "Barclays Maintains Overweight on Adobe, Raises Price Target to $304", "12 Stocks To Watch For October 16, 2018", "S&P 500 Movers: GWW, ADBE In early trading on Tuesday, shares of Adobe ( ADBE ) topped the list of the day's best performing components of the S&P 500 index, trading up 7.3%. Year to date, Adobe registers a 45.7% gain. And the worst performing S&P 500 component thus far on the day is W.W. Grainger ( GWW ), trading down 12.8%. W.W. Grainger is showing a gain of 17.3% looking at the year to date performance. Two other components making moves today are Blackrock ( BLK ), trading down 4.5%, and Progressive ( PGR ), trading up 5.0% on the day. VIDEO: S&P 500 Movers: GWW, ADBE The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.", "Adobe Stock Is Floating in the Sunny Skies of the Cloud InvestorPlace - Stock Market News, Stock Advice & Trading Tips The chief benefits of open source go to the users. The cloud is a product of open source. I've been writing those two sentences, repeatedly, for over a decade now, and they're as true today as they ever were. Companies that fully embraced the economics of cloud have ridden it to glory. Few have done so as spectacularly as Adobe Systems (NASDAQ: ADBE ). By the standards of Silicon Valley it's old money, founded in 1982, its squat skyscraper a few blocks from the San Jose convention center. John Warnock and Charles Geschke founded Adobe around PC tools like PostScript and Photoshop. Shantanu Narayen re-invented the company by embracing the cloud and subscription as a service. Over the last five years the stock is up 342%, even with the recent tech wreck taking 13% out of the price. Clear Sailing Adobe said Oct. 15 it expects top-line growth of 20% next year, to $10.8 billion, well above previous analyst estimates , and the stock rose almost 6% in response . 10 Small-Caps With Straight-A Potential Both the recent fall and this rise are unsurprising. Even at its October 15 close of $238, Adobe was selling at an eye-popping 49 times earnings. The October 16 gains will send that even higher. But when you've got Amazon.Com (NASDAQ: AMZ

Determine the maximum fraction of total portfolio capital that should be allocated to VTI, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0260 (i.e., a 2.60% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0260 = 3.8481, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BTC-USD: 60-day history, VaR(99%)=-0.0546, max drawdown threshold=10%.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0010, std=0.0202, worst_day=-0.0773
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to BTC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0546 (i.e., a 5.46% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0546 = 1.8321, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ACWI: 60-day history, VaR(99%)=-0.0242, max drawdown threshold=10%.

Question:
Asset: ACWI
Daily returns (past 60 days): mean=-0.0012, std=0.0126, worst_day=-0.0309
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2022-03-25] ["Europe says yes to messaging interoperability as it agrees major new regime for big tech Late Thursday the European Union secured agreement on the detail of a major competition reform that will see the most powerful, intermediating tech platforms subject to a set of up-front rules on how they can and cannot operate -- with the threat of fines of up to 10% of global annual turnover should they breach requirements (or even 20% for repeat violations). In three-way discussions between the European Council, parliament and Commission, which ran for around eight hours today, it was finally agreed that the Digital Markets Act (DMA) will apply to large companies providing \"core platform services\" -- such as social networks or search engines -- which have a market capitalisation of at least \u20ac75 billion or an annual turnover of \u20ac7.5 billion.", "European Union reaches provisional agreement on antitrust law targeting tech giants The European Union has reached an agreement to adopt the Digital Markets Act (DMA), a sweeping antitrust law meant to rein in Apple, Google, Meta and other tech giants.", "Europe agrees new law to curb Big Tech dominance Under the rules major firms like Apple and Google would have to open up their systems to rivals.", "Higher Education Market to grow by USD 45.11 billion | 37% growth to originate in North America | Technavio The global higher education market size is expected to increase by USD 45.11 billion between 2020 and 2025. The market observed a YOY growth of 13.40% in 2021 and the growth momentum is expected to accelerate at a CAGR of 13.84% during the forecast period. The report offers accurate predictions on the future market scenarios, YOY growth rates through 2025, and the trends and drivers impacting the growth of the market.", "Darktrace AI Stops Sophisticated Phishing Attacks at Brazilian Manufacturing Giant Darktrace, a global leader in cyber security AI, today announced that its AI-powered email security technology, Antigena Email, successfully stopped a series of phishing attacks targeting a global manufacturing organization in Brazil.", "Apple's 10.2-inch iPad with 256GB storage falls to a new Amazon low Apple's 2021 256GB 10.2-inch iPad is already a solid deal at $479, but you can now pick one up at an all-time low of $429.", "10 Things in Tech: iPhone subscriptions In today's edition: Tim Cook is expected to attend the Oscars, and Apple is considering creating a subscription service for iPhones.", "The Morning After: The inventor of the GIF has died Today\u2019s tech headlines: Google says it thwarted North Korean cyberattacks in early 2022, Apple may be planning an iPhone hardware subscription service, Google seeks FDA approval for Fitbit's passive heart rate monitoring tech.", "US and EU aim to revive transatlantic data flows in new privacy deal President Biden said the preliminary agreement will 'enhance the Privacy Shield framework.'", "Engadget Podcast: Apple\u2019s confounding Studio Display an

Determine the maximum fraction of total portfolio capital that should be allocated to ACWI, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0242 (i.e., a 2.42% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0242 = 4.1286, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLF: 60-day history, VaR(99%)=-0.0293, max drawdown threshold=10%.

Question:
Asset: XLF
Daily returns (past 60 days): mean=0.0015, std=0.0129, worst_day=-0.0310
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2016-04-27] ["TSMC Will Meet Its Sales Target Despite Apple\u2019s Fiscal Q2 Miss: Bernstein Bernstein Research cut its second-quarter revenue forecast for Apple's foundry provider Taiwan Semiconductor Manufacturing Corp., TSMC (2330.Taiwan/TSM) after Apple (AAPL) said it would cut $2 billion inventory. But TSMC will meet its 2016 revenue growth target of 5-10%, according to Bernstein.The last time Apple had a large cut in channel inventory was a year ago and it was only \"a bit less than $800 million\", said Apple. For details (a lot of it), check out my Barron's colleague Tiernan Ray's blog \"Apple Cutting $2B of Inventory Given Macro Environment\".READ MORE.", "Which Suppliers Are Most Vulnerable To Apple\u2019s $2B Inventory Cut?", "What \u2018margin of safety\u2019 means for Netflix shares When managing your portfolio, you always have to consider the risk of owning an individual security, sometimes that\u2019s not a big deal, but other times, you need to look at immediate risk and discuss whether or not it\u2019s safe to continue to own those shares.", "Small-Cap Stocks Back? Charts Suggest They Are Right now, small- and medium-cap shares have stronger technicals than their large-cap cousins.", "The Case Against Apple Though Barron\u2019s sees brighter days for the stock, Fortune thinks the news will get worse.", "Apple slumps 7% premarket after earnings miss", "Apple shares in Frankfurt trade drop 7.3%", "Apple stock price target cut to $153 from $172 at Piper Jaffray", "Apple's bullish thesis little changed despite disappointing Q2 results--Piper Jaffray", "Apple hints at big acquisition to cure growth ills Tim Cook says Apple willing to spend more than previous record To cure Apple\u2019s growth problems, Chief Executive Tim Cook suggested Tuesday he may go shopping.", "Here are reasons to doubt the comeback by value stocks Not yet a \u2018sustainable trend reversal\u2019 Value stocks are leaving growth behind in what may be a long overdue turnaround. But one analyst has big doubts about whether the investing style will continue to prevail.", "Here\u2019s what Apple\u2019s horrible quarter means for the company in the long term \u2018We look beyond the current cycle,\u2019 Mizuho analysts say As Apple shares drop in premarket trading Wednesday after the iPhone maker\u2019s disappointing earnings, analysts come to the company\u2019s defense.", "Apple's stock tumble can be blamed for Dow futures' drop Apple Inc.'s stock tumbled 8.2% in premarket trade Wednesday, putting them on track to open at a two-month low, after the technology giant reported disappointing quarterly results. The stock's price decline of $8.60 would shave about 59 points off the Dow Jones Industrial Average , which is a price-weighted index. Dow futures were down 40 points ahead of the open.", "How Apple could wipe 60 points off the Dow Apple\u2019s after-hours plunge would push the Dow about 60 points lower Apple Inc.\u2019s disappointing corporate results late Tuesday may be a bad

Determine the maximum fraction of total portfolio capital that should be allocated to XLF, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0293 (i.e., a 2.93% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0293 = 3.4098, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


DOT-USD: 60-day history, VaR(99%)=-0.1779, max drawdown threshold=10%.

Question:
Asset: DOT-USD
Daily returns (past 60 days): mean=0.0096, std=0.0714, worst_day=-0.1890
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2021-11-02]

Determine the maximum fraction of total portfolio capital that should be allocated to DOT-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.5623

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1779 (i.e., a 17.79% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1779 = 0.5623, capped at 1.0.
Maximum position size = 0.5623 (56.2% of portfolio).


USMV: 60-day history, VaR(99%)=-0.0137, max drawdown threshold=10%.

Question:
Asset: USMV
Daily returns (past 60 days): mean=0.0006, std=0.0059, worst_day=-0.0166
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2021-07-19] This Segment of Tech Stocks Will Outpace the Rest Over the Next 4 Years Technology stocks have been the must-own sector for more than a couple of decades now. That's not apt to change in the foreseeable future either. If you think one technology stock is as good as another though, think again. They can be dramatically different when it comes to growth prospects, and enterprise software companies like Microsoft (NASDAQ: MSFT) and ServiceNow (NYSE: NOW) are poised to outgrow other tech names for the foreseeable future. That's the call from technology market research outfit Gartner (NYSE: IT) anyway, which recently posted its long-term IT spending outlook. The organization believes global tech spending will improve by 9% year over year in 2021, led by more than a 13% swell in software outlays. Unlike other technology arenas, however, enterprise software sales will remain abnormally brisk through 2025. Investors should make a point of holding exposure to this sliver of the tech sector during this time. Image source: Getty Images. Better than the rest All of the technology sector's key industries should benefit from IT spending growth this year, for the record, and this widespread progress is expected to persist through 2022. The rising tide isn't expected to lift all boats equally, however. The graphic below puts things in perspective. Services of all sorts will see steady growth through 2025, according to Gartner, and data center systems and device manufacturers are apt to fare even better. The standout area, however, is clearly enterprise software. Gartner estimates software spending will grow at a double-digit percentage pace every year through 2025. In fact, it will be the technology sector's only segment to achieve double-digit growth in any year except for this year's expected 13.9% growth in spending on devices, which is exaggerated this year due to last year's decline. Data source: Gartner Inc. Chart by author. And in case you're wondering, infrastructure software spending is projected to lead the way, albeit just barely. Spending on enterprise-level apps, or computer programs, should see almost as much growth, suggesting software spending plans are well balanced. Best of the best The stage may be set for growth, but which software stocks will make for the most productive picks? One of the most obvious beneficiaries of this projected growth is, of course, Microsoft. It's hardly a pure play, with offerings ranging from operating systems to video gaming to personal productivity to cloud computing. Its Intelligent Cloud division is now the company's single-biggest operating unit though, accounting for $15.1 billion of last quarter's revenue of $41.7 billion. Its cloud-management interface Azure saw a 46% year-over-year improvement in revenue, as enterprises embrace highly capable off-the-shelf solutions. Market researcher Canalys estimates Microsoft leveraged Azure to end Q1 with 19% of the world's cloud infrastructure spending market share, up

Determine the maximum fraction of total portfolio capital that should be allocated to USMV, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0137 (i.e., a 1.37% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0137 = 7.3201, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLP: 60-day history, VaR(99%)=-0.0152, max drawdown threshold=10%.

Question:
Asset: XLP
Daily returns (past 60 days): mean=0.0010, std=0.0069, worst_day=-0.0165
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2019-07-17] ["Netflix Reports Earnings Today. Here\u2019s What to Expect. Management will likely face questions about competition from other media companies\u2019 upcoming streaming services.", "Software Stocks Hit Record Valuations Just in Time for Earnings Season Software isn\u2019t just \u2018eating the world,\u2019 but also huge swaths of investor portfolios.", "Amazon probed in Europe over third-party selling Amazon.com Inc. will face a formal European Union antitrust investigation into its dealings with third-party merchants, expanding a multipronged regulatory push that has ensnared other big Silicon Valley giants like Facebook Inc. and Alphabet Inc.\u2019s Google.", "Walmart CEO McMillon says the retailer has been playing \u2018catch up\u2019 in e-commerce McMillon says customers want the convenience that Amazon and other e-commerce companies provide Walmart Chief Executive Doug McMillon discussed the retail giant\u2019s digital progress and the competition, including Amazon.", "Amazon members bought more than 175 mln items during Prime Day event", "Amazon Prime Day was largest shopping event in co.'s history", "Amazon Prime Day top selling deals included Echo Dot, Fire TV Stock", "Amazon sees most-ever Prime member signups on July 15", "Amazon's stock edges up 0.1% in premarket trading", "Amazon Prime Day sales surpass Black Friday and Cyber Monday combined Amazon.com Inc. said Wednesday that this year's two-day Prime Day shopping event was the biggest shopping event in the company's history, surpassing Black Friday and Cyber Monday combined. More than 175 million items were purchased, with the event becoming the largest-ever for Amazon devices, including the Echo Dot and Fire TV Stick with Alexa Voice Remote. Prime members also bought 100,000 lunchboxes, 100,000 laptops, 350,000 luxury beauty products, and more than one million toys. Amazon says Prime members around the world saved more than $1 billion. Eighteen countries participated this year. And Amazon reports it signed up the most new Prime members ever on July 15 and nearly as many on July 16. Amazon stock has gained 33.6% in 2019 while the S&P 500 index is up nearly 20% for the period.", "Amazon Says Prime Day Was the Greatest Event in the History of Mankind The company uses a lot of superlatives without ever actually saying anything substantive about total sales for the event, or how they compared with previous Prime Days on a computational level.", "Microsoft earnings: Trillion-dollar valuation is banking on continuing cloud growth One analyst sees cloud accounting for 60% of Microsoft\u2019s revenue in six years Growth of Microsoft Corp.\u2019s cloud service Azure will be key in determining whether the software giant maintains its leading trillion-dollar market cap after its earnings report.", "China Is a Bigger Problem for the Global Economy Than You Think, Rupal Bhansali Says Rupal Bhansali, a Barron\u2019s Roundtable panelist and the chief investment officer at Ariel Investments, says

Determine the maximum fraction of total portfolio capital that should be allocated to XLP, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0152 (i.e., a 1.52% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0152 = 6.5620, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLB: 60-day history, VaR(99%)=-0.0237, max drawdown threshold=10%.

Question:
Asset: XLB
Daily returns (past 60 days): mean=0.0004, std=0.0104, worst_day=-0.0255
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2021-06-30] ["Ably raises $70 million for its developer platform that enables realtime features Ably is a Pub/Sub messaging platform that companies can use to develop realtime features in their products. The company just raised a $70 million Series B funding round co-led by Insight Partners and Dawn Capital. A popular system that lets you create realtime features is called Pub/Sub, as in publish-subscribe.", "LG's 'QNED' Mini LED TVs are coming to the US in July LG's lineup of QNED 4K and 8K TVs unveiled late last year will arrive in the US in July, the company has announced.", "Amazon\u2019s Halo app gets better with Movement Health update Amazon is rolling out its smartphone camera-driven service called Movement Health, which it announced earlier this month.", "Microsoft says a third of its government data requests have secrecy orders Microsoft's customer security chief says as many as one-third of all government demands that the company receives for customer data are issued with secrecy clauses that prevents it from disclosing the search to the subject of the warrant. The figure was disclosed in testimony by Microsoft's Tom Burt ahead of a House Judiciary Committee on Wednesday, as lawmakers weigh a legislative response to efforts by the Justice Department under the Trump administration to secretly obtain call and email records as part of an investigation into the leaks of classified information to reporters at The New York Times, The Washington Post, and CNN. Burt said that such secrecy orders \"have unfortunately become commonplace,\" and that Microsoft regularly receives \"boilerplate secrecy orders unsupported by any meaningful legal or factual analysis.\"", "Apple\u2019s developer problems are much bigger than Epic and \u2018Fortnite\u2019 The Epic v. Apple trial exacerbated the company's developer relations problem, and it could still get worse.", "Facebook\u2019s early antitrust win doesn't let it or Big Tech off the hook Facebook may have scored and early win in its antitrust battle with the FTC, but the war is far from over for the social networking giant, or the rest of Big Tech.", "The iOS 15, iPadOS 15 and watchOS 8 public betas are here The iOS 15 public beta is rolling out today. Here's how to get it.", "iOS 15 beta hands-on: A surprisingly complete preview iOS 15 features like SharePlay, Focus modes and Live Text are ready for testing.", "AT&T will soon enable RCS messaging for all Android phones Google Messages will be the default chat app for AT&T customers.", "watchOS 8 beta hands-on: Subtle but useful changes The watchOS 8 public beta might not be as big a change as iOS 15, but it still promises better integration with your iPhone, along with health and fitness updates.", "Lego should snap up this rapid-fire brick-finding iOS app Lego has worked extremely closely with Apple over the years, experimenting with unreleased iOS tech and demoing it onstage at launch events like WWDC; this has included some pretty heavy tinkering on the augmen

Determine the maximum fraction of total portfolio capital that should be allocated to XLB, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0237 (i.e., a 2.37% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0237 = 4.2109, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BTC-USD: 60-day history, VaR(99%)=-0.0961, max drawdown threshold=10%.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=-0.0024, std=0.0435, worst_day=-0.1073
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to BTC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0961 (i.e., a 9.61% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0961 = 1.0407, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLY: 60-day history, VaR(99%)=-0.0268, max drawdown threshold=10%.

Question:
Asset: XLY
Daily returns (past 60 days): mean=0.0016, std=0.0103, worst_day=-0.0313
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2021-02-12] ["Which is better, the 2021 Toyota RAV4 or the 2021 Honda CR-V? The Toyota RAV4 and Honda CR-V are two popular, reliable, compact crossovers. Let's compare them side by side.", "Disney earnings: Surge by Disney+ to nearly 95 million subscriptions leads to surprise profit Walt Disney Co.'s streaming service, Disney+, proved again to be a big plus during a pandemic that has all but shuttered the Magic Kingdom's other businesses. And that has company shares up 3% in after-hours trading Thursday.", "Tesla is on this list of 20 S&P 500 companies that have produced the biggest sales increases along with pricing power The companies showed double-digit sales increases and expanded gross profit margins.", "Apple's stock falls 0.5% toward 4th straight decline", "My wild ride owning GameStop stock Why it's been easy to own a volatile stock and still keep my cool", "Antelope Enterprise Holdings Ltd. Announces Pricing Of Registered Direct Public Offering Antelope Enterprise Holdings Ltd. (f/k/a China Ceramics Co., Ltd.) (NASDAQ Capital Market: AEHL) (the \"Company\"), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced that it has entered into a definitive agreement with three institutional investors for a registered direct offering of securities with gross proceeds of approximately $2.1 million, before payment of commissions and expenses. The closing of the offering is expected to take place on or about February 17, 2021, subject to the satisfaction of customary closing conditions.", "Brookdale Launches \"Cheer a Hero\" Challenge to Cheer On Senior Living Workers Brookdale Senior Living is launching the \"Cheer a Hero\" letter challenge to support and encourage senior living associates throughout the United States. Brookdale, which has more than 720 communities across the country (as of December 21, 2020), is aiming to raise awareness and cheer for those individuals working in senior living/nursing home communities. You can \"Cheer a Hero\" in your hometown by posting to social media and using the hashtag \"#cheerahero,\" writing a letter or downloading this template to send a note to the staff of a senior living facility in your area or a Brookdale community near you.", "Garibaldi Intercepts Multiple Gold Bearing Veins & Silicified Units at Newly Discovered Casper Hydrothermal System Garibaldi Resources (TSXV: GGI) (the \"Company\" or \"Garibaldi\") is pleased to announce assay results from four shallow diamond drill holes totaling 639.5m, the first ever testing the new Casper Quartz Gold Vein System. The Casper discovery is located 12 km northwest of the Company's flagship E&L nickel-copper-cobalt massive sulphide project at Nickel Mountain, and 14 km west of Garibaldi's premier Eskay North gold prospect, bordering the historic Eskay Creek mine, now being redeveloped.", "Global Patient Monitoring Devices Market Report 2020-2027: Availability o

Determine the maximum fraction of total portfolio capital that should be allocated to XLY, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0268 (i.e., a 2.68% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0268 = 3.7360, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


TIP: 60-day history, VaR(99%)=-0.0015, max drawdown threshold=10%.

Question:
Asset: TIP
Daily returns (past 60 days): mean=0.0001, std=0.0007, worst_day=-0.0016
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to TIP, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0015 (i.e., a 0.15% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0015 = 66.9937, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


DOT-USD: 60-day history, VaR(99%)=-0.0875, max drawdown threshold=10%.

Question:
Asset: DOT-USD
Daily returns (past 60 days): mean=-0.0034, std=0.0305, worst_day=-0.0875
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2022-10-20]

Determine the maximum fraction of total portfolio capital that should be allocated to DOT-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0875 (i.e., a 8.75% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0875 = 1.1433, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MTUM: 60-day history, VaR(99%)=-0.0107, max drawdown threshold=10%.

Question:
Asset: MTUM
Daily returns (past 60 days): mean=0.0017, std=0.0051, worst_day=-0.0126
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2017-11-14] ["Amazon selling its cloud-computing business in China Beijing Sinnet Technology says it\u2019s buying unit for up to $300 million Amazon.com Inc.\u2019s cloud-computing service is throwing in the towel in China.", "Developer gets death threats from fans annoyed with new Star Wars videogame EA\u2019s response hailed as \u2018the most downvoted comment of all time\u2019 Electronic Arts has received plenty of backlash from gamers ahead of its release of Star Wars: Battlefront II, due out on Friday, and it\u2019s response isn\u2019t helping at all.", "The $1.5 trillion problem is making the U.S. stock market jittery Tax cuts could be a catalyst for stocks, but the final tally is unknown Tax cuts could be a catalyst for stocks, but the final tally is unknown, says Nigam Arora.", "The man who gave us the DVR says Roku is the future of TV CEO says Roku gives him the ability to do what he has always wanted: Build a new home for TV fans Anthony Wood has spent his career changing how we watch television, and says he has always had one goal: Offer a single destination for video. He believes that destination will be Roku, the company he developed at Netflix after learning lessons from his TV game-changer, the digital video recorder.", "Riding Amazon to New Heights How T. Rowe Price Media & Telecommunications is beating virtually all of its peers.", "Apple's stock in danger of 4th straight fall, but RBC sees multiple earnings 'tailwinds' A sharp increase in Apple Inc.'s off-balance-sheet manufacturing and purchase commitments to a record $37.6 billion in fiscal 2017, up 31% from a year ago, potentially indicate a strong ramp for iPhone X, according to RBC Capital analyst Amit Daryanani. After an analysis of Apple's audited annual report filed with the Securities and Exchange Commission, Daryanani said the 8% decline in warranty accruals was \"logical\" given the iPhone X delay; a slight decline in operating margins in the U.S. reflect carrier discounts on new phones; and the 31% rise in vendor non-trade receivables reflect component purchases by Apple for manufacturing licensee partners and overall inventory on Apple's balance sheet. Daryanani reiterated his outperform rating and $190 stock-price target, citing \"multiple tailwinds\" for EPS growth, including higher average selling prices for iPhone X, improved gross margins and potential tax reform. The stock slipped 0.8% in morning trade, which puts it on track for a fourth straight decline since it closed at a record $176.24 on Nov. 8. The stock has climbed 8.1% over the past three months, while the tech-heavy Nasdaq 100 has rallied 6.3% and the Dow Jones Industrial Average has gained 6.0%. (This updates a previous item that incorrectly reported a rise in \"nonreceivables\" rather than \"non-trade receivables.\")", "Apple\u2019s iPhone X Production Problems Could Last Into \u201918, Says Mizuho Apple is still struggling with \"yields\" of its 3-D sensing function in the iPhone X, claims Mizuho's Abhey Lam

Determine the maximum fraction of total portfolio capital that should be allocated to MTUM, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0107 (i.e., a 1.07% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0107 = 9.3293, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


EEM: 60-day history, VaR(99%)=-0.0174, max drawdown threshold=10%.

Question:
Asset: EEM
Daily returns (past 60 days): mean=0.0013, std=0.0076, worst_day=-0.0240
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2017-08-31] ["3 Must Read Stories: Trump Blasts North Korea, Apple\u2019s Market Cap Approaches $1 Trillion, Alibaba Pictures", "Toshiba continues chip-unit negotiations with three potential buyers Toshiba Corp. said late Wednesday that it is in ongoing negotiations with three potential buyers for its memory chip unit. In a statement, Toshiba said the suitors include a consortium led by Bain Capital and, reportedly, Apple Inc.; a consortium that includes Western Digital Corp. ; and a consortium that includes Hon Hai Precision Industry Co. , aka Foxconn. While Toshiba originally sought an Aug. 31 deadline to sell its chip unit, the company said negotiations have not yet reached a point where the board is ready to agree to a sale. Toshiba is seeking to sell its chip unit to raise capital, reportedly around $18 billion, following massive losses by its U.S. nuclear subsidiary, Westinghouse Electric Co., which filed for bankruptcy earlier this year.", "Apple\u2019s new iPhone expected to lead to $180 billion in smartphone sales IDC predicts Android will continue to command majority of smartphone market, but Apple will take big money Though Apple Inc.\u2019s iPhones may lag Android devices in terms of market share, Apple is expected to bring in $180 billion from its smartphones alone by 2021, according to a report from market intelligence firm IDC.", "Google-parent Alphabet may be key to this stock-market rally Critical information for the U.S. trading day September has been billed as a rough month for stocks, but the tech overlords may have something to say about that. A sparkle seems to be returning for that sector as a grind of a month comes to a close.", "Apple Should Throw in Some Freebies with That Pricey iPhone, Says Barclays Apple might want to think about bundling some freebies with its next iPhone, which is purported to cost, at the high end, $1,000 or more, says Barclays analyst Mark Moskowitz. He sees free stuff like an Apple Music subscription helping some consumers swallow a higher price and therefore potentially helping Apple boost iPhone revenue.", "Apple sends invite to expected iPhone event: reports", "Apple confirms expected iPhone event at 'Steve Jobs Theater' Apple Inc. invited media members Thursday to its new campus and theater named after co-founder Steve Jobs for a Sept. 12 event that is expected to include the introduction of a highly anticipated new iPhone, according to multiple media reports. \"Let's meet at our place,\" the invitation, shared on Twitter by multiple reporters, reads. \"Please join us for the first ever event at the new Steve Jobs Theater in Cupertino.\" The Steve Jobs Theater is part of Apple's new \"Spaceship\" campus that will be the new headquarters for the world's most valuable company. At the event, Apple is expected to introduce new iPhones on the tenth anniversary of the introduction of the original iconic Apple smartphone. Most anticipation focuses on a new, super-premium version of the phone that is expected to

Determine the maximum fraction of total portfolio capital that should be allocated to EEM, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0174 (i.e., a 1.74% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0174 = 5.7403, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).