Educational Resources

Newsletters and Updates

Research, insights, and thought leadership from the GVS community.

GVS brings together volatility and tail hedge managers, institutional investors, thought-provoking speakers, and other industry experts to discuss the volatility markets and the roles volatility strategies can play in institutional investment portfolios. GVS aims to keep investors updated on the volatility markets throughout the year, and educated on innovations within the space. Capstone Investment Advisors has provided the latest piece in the GVS newsletter series.
All 2025 2024 2023 2022
Disclaimer

These materials are provided by conference participants for informational purposes only and should neither be construed as investment advice nor an offer to sell or the solicitation of any offer to buy any security. You understand that the material made available via this website are the works of individual authors, has been posted with the permission of the conference participant, and does not necessarily represent the views of Summit. No representation or warranty is made concerning the accuracy of any data compiled herein. Summit does not provide tax, legal or accounting advice.

Transtrend

Just Buy the Index

The SG CTA and SG Trend indices are nearing their 25th anniversary. While CTAs have been providing their services for much longer, the introduction of these indices in 2000 significantly boosted the recognition of CTAs as an investment style. Despite not being intended as benchmarks, they’ve effectively become leading performance benchmarks for both CTAs and (potential) investors. In today’s investment climate, this naturally leads to the question: Can’t we just buy the index?

Full Article
Eurex

Expected Market Impact and Use Cases for Daily EURO STOXX 50® Options

Daily index option expirations have been around for over a decade. However, the widespread adoption of daily expirations coincided with the introduction of daily expirations in the S&P 500 (SPX) arena. This paper discusses Eurex’s EURO STOXX 50® index suite, the latest segment to introduce daily expiring options. To gauge how these options will be used, and how they could impact the EURO STOXX 50® ecosystem, we turn to the SPX option market.

Full Article
ADAPT Investment Managers

Risk Premia Expansion / Compression Cycle

Looking at the investment cycle through the lens of derivatives paints a rather fascinating picture. Following different risk parameters across asset classes and regions, we state that markets have almost reached the stage of maximum complacency.

Full Article
Graham Capital Management

Challenges and Opportunities for Risk Assets

Despite a few setbacks on the inflation front, the US economy continues to march along a path of benign conditions for risk assets and investment styles that typically flourish in low-vol, risk-on environments. However, navigating these seemingly favorable conditions requires a nuanced understanding of both the macroeconomic landscape and potential tail risks.

Full Article
Graham Capital Management

Global Macro

In the alternative investment industry, few strategies capture the breadth and complexity of global markets quite like global macro investing. At its core, global macro is not merely a single investment approach but a comprehensive strategy that seeks to capitalize on broad economic trends and geopolitical developments across the globe. With a focus on understanding and predicting macroeconomic variables such as interest rates, fluctuations in currencies, commodities, credit and equities, along with geopolitical events, global macro managers aim to generate returns by strategically positioning their portfolios to profit from both anticipated and unforeseen shifts in the global landscape.

Full Article