Hypotheses
Hyperliquid Downside-Beta Risk Premium: Long Crash-Sensitive Alts Against Matched Low-Sensitivity Alts
Test whether investors demand compensation for asymmetric exposure to crypto market losses. Use synchronized 4-HOUR bars across LINK, AVAX, XRP and DOGE perpetuals, selecting one long-short pair with similar ordinary…
Hypothesis
Test whether investors demand compensation for asymmetric exposure to crypto market losses. Use synchronized 4-HOUR bars across LINK, AVAX, XRP and DOGE perpetuals, selecting one long-short pair with similar ordinary market betas but different downside betas. Long the more downside-sensitive asset; short the less sensitive asset. This deliberately accepts downside risk rather than forecasting price reversal or ranking momentum. Source: [Is downside risk priced in cryptocurrency market?](https://www.sciencedirect.com/science/article/pii/S1057521923004635), which reports a positive downside-beta premium in historical cryptocurrency samples; transfer to these four Hyperliquid perpetuals remains unproven. HyperliquidCollector supplies exact perpetual OHLCV. Local parquet timestamps were checked: common coverage begins 2024-02-07T12:00:00Z and ends 2026-10-02T00:00:00Z, with isolated gaps in three legs. Trade only on complete synchronized observations and restart warm-up after gaps.
Backtest and paper results are hypothetical. Trading involves risk of loss.