Judged on the drawdown,
not on the headline.
DNLS is a high-frequency-of-decision programme: the H4 cadence produces a large, statistically meaningful sample rather than a handful of positions whose outcome is dominated by luck. What that sample is worth, however, is a question about risk — so the record is reported as a full risk profile, not as a return figure on a marketing page.
Any manager can show you the return. The number that decides whether you should allocate is the one underneath it.
Full performance reporting — cumulative and monthly returns, long and short attribution, annualised volatility, Sharpe and Calmar ratios, current and maximum drawdown, and exposure statistics — is provided as a dated tearsheet to qualified prospective and existing mandate holders under confidentiality. We do not publish headline return figures on this page: a return without its drawdown is not information, and we would rather you saw both at once.
How a position
comes into being.
The same four steps run every four hours, in the same order, without exception. Each is fully codified.
Signal — rank the universe.
The Neuron Multicoin Indicator Suite scores every instrument in the eligible universe on relative strength, dispersion and funding conditions, producing a ranked book of candidate longs and candidate shorts at each H4 close.
Pairing — net the market out.
Longs and shorts are paired and weighted so that aggregate delta is held at neutral within a defined tolerance. What survives is the relative view; what is removed is the market view we were never trying to express.
Sizing — size against risk, not conviction.
Position size is a function of realised volatility, liquidity depth and the programme’s exposure caps — never of how strong a signal appears. Concentration limits bind before any single idea can dominate the book.
Execution — execute, log, reconcile.
Orders are routed systematically, every fill is logged against its originating signal, and the book is reconciled each cycle. That audit trail is what makes the monthly client report a reconciliation rather than a summary.
Neuron Multicoin
Indicator Suite
The research layer beneath DNLS: a set of proprietary indicators for cross-asset ranking, dispersion and portfolio optimisation across a multi-coin universe. Licensed separately to institutional desks through Neuron Software.
Written twice,
on purpose.
DNLS is documented in two parallel versions of the same institutional deck: a technical edition for quantitative teams, allocators and risk committees, and a plain-language edition for principals who want to understand the mechanism without the mathematics.
- Technical edition — full mechanics, indicator construction and risk framework.
- Plain-language edition — the same strategy, no prerequisites.
- One-pager — for committee circulation and first contact.
Request the
DNLS tearsheet.
Provided under confidentiality to qualified investors, with the full risk and drawdown history attached.