Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
2,013 documents
The article introduces Markowitz modern portfolio theory as a framework for choosing asset weights by balancing expected return and risk. It explains that portfolio risk depends not only on each asset’s volatility but also on covariance between assets, so…
This article develops a systematic approach to finding multi-asset relative-value baskets rather than manually selecting pairs. It arranges log prices in a matrix, uses singular value decomposition to separate common factors from residual directions, and…
The article adapts risk parity to contracts representing BTC, equities, gold, and crude oil. It aligns hourly price data, calculates log returns, estimates covariance with an exponentially weighted scheme, and iteratively adjusts signed weights to bring…
This tutorial shows how to adapt a simple price-chasing strategy from one trading pair to several pairs managed by a single robot. Its buy and sell rules remain unchanged: it compares the latest price with a stored reference price and trades when the move…
This guide describes how separate FMZ live trading programs can exchange messages through a broker using MQTT, NATS, AMQP, or Kafka. It outlines a publish and subscribe architecture, with the trading programs as clients and a locally hosted or remote server…
This tutorial outlines a data-driven workflow for analyzing cryptocurrency markets with Python. It retrieves Bitcoin price histories from several exchanges, checks and combines the series, replaces zero values with missing data, and calculates an average…
The article describes a risk-parity strategy for a basket of tokenized traditional assets and BTC: an equity index proxy, gold, crude oil, and Bitcoin. Rather than assigning equal capital, it seeks roughly equal risk contributions, accounting for both asset…
This tutorial explains how to use a trading platform’s extended API to change parameters across multiple stopped bots. It first filters bots by strategy and stopped or error status, then retrieves each bot’s detailed configuration. Because restarting with…
This tutorial shows how to adapt a simple price-chasing strategy to trade several cryptocurrency pairs from one bot. Its central design change is to store market-specific values—such as reference prices, trade thresholds, minimum order sizes, and precision…
This annual review links 2023 crypto volatility and trading volume to market events, then considers risks for the coming year. It describes unusually low realised volatility and weak spot volumes for BTC and ETH, followed by a recovery in both as the spot…
This podcast synopsis connects foreign-exchange moves with the outlook for crypto prices. One speaker argues that weakness in Asian currencies could increase pressure on the Federal Reserve to adopt a more dovish stance than interest-rate markets expect. The…
This commentary compares Bitcoin’s spot-price and implied-volatility relationships with traditional assets and with Ethereum. Using rolling 90-day correlations, it reports that Bitcoin’s spot relationship with the S&P 500 and Nasdaq weakened from early 2023…
This podcast description previews a discussion of Bitcoin and broader risk markets during a period of tight crypto trading ranges and declining volatility. The hosts consider how political tensions between Donald Trump and Elon Musk coincided with brief…
The commentary compares rolling 90-day realised volatility across major crypto-assets, smaller tokens and traditional market benchmarks, then examines how changes in volatility move together. It reports unusually low realised volatility across most assets…
This podcast episode presents a discussion of Bitcoin’s behavior amid pressure on US assets and political uncertainty, including whether it may be gaining a role similar to gold. The listed topics include dollar weakness, rising US yields, currency…
This market commentary links a shift toward risk appetite in US and global assets to stronger economic data, hawkish Federal Reserve remarks, and optimism about resolving the US debt ceiling standoff. It surveys equity index performance, Treasury yields,…
This market commentary weighs a modest Bitcoin rebound against continued macroeconomic and crypto-specific risks. It describes crypto’s recent underperformance relative to equities, links short-term sentiment to concern about technology valuations and…
This podcast episode discusses institutional engagement with digital assets and the convergence of crypto infrastructure with traditional finance. The guest describes banks, hedge funds, ETF providers, and trading firms expanding from basic crypto exposure…
This market commentary argues that reduced cash liquidity and attractive yields on deposits and short-term government debt were contributing to low volatility and weak crypto trading activity in September 2023. It proposes a mechanism: when cash earns a…
This market review examines a period of subdued BTC and ETH prices and volatility alongside bearish derivatives positioning. It describes low historical and implied volatility, declining options skew with puts priced above calls, and falling futures…
The document argues that Bitcoin is best analyzed as a distinct alternative asset class. It outlines Robert Greer’s three broad asset groups—capital assets, consumable or transformable assets, and stores of value—and places Bitcoin closer to the…
A podcast discussion surveys Bitcoin’s market conditions through the perspectives of a derivatives professional and the hosts. It links muted realized volatility and one-directional institutional flows to a broader sense of market apathy, and asks whether…
This podcast description outlines a discussion of how the U.S. election outcome might affect crypto markets. The guests consider the investment landscape after BTC and ETH exchange-traded funds, the macro backdrop of Federal Reserve cuts, and whether…
This discussion reviews why the 2025 crypto rally disappointed some market participants and how capital allocation shaped the industry. The guest argues that the digital asset treasury trend pulled funding toward speculative companies, while established…