Hyperliquid Upside-Semivariance Rotation in Low-Drift Altcoins

Derived by the Research Lead from the publisher abstract of [Variance Decomposition and Cryptocurrency Return Prediction](https://www.cambridge.org/core/journals/journal-of-financial-and-quantitative-analysis/article/variance-decomposition-and-cryptocurrency-return-prediction/9995E58095453CB44A3BC3C9C111969F): test whether upside-dominated volatility predicts relative underperformance. The abstract attributes negative cross-sectional return predictability partly to positive variation; the full methods were not read. This is an operationalization, not a replication. Use synchronized 4-HOUR ATOM, ALGO and ICP Hyperliquid perpetual bars to buy the lowest signed-semivariance share and short the highest, only when their preceding net moves are modest relative to realized variation. Hold each paired episode for seven days. Four-hour observations are coarse proxies for the paper's intraday estimators; this transfer is explicitly unproven. Market orders fill at the signal bar's close, the registry's faithful equivalent to continuous-market next-bar-open execution. No queue, independent opposing positions, selectable same-bar policy or exchange-hosted protection is required.