Macro Hedge Fund Risk Dashboard

132 Positions | EWMA Covariance | Black-Litterman | Snapshot: 2025-12-31 | Source: macro_risk

Portfolio Summary (since inception Oct 2024)

Cumulative Returns: Portfolio vs SPY vs GLD

Drawdowns: Portfolio vs SPY

Portfolio max DD: -5.4% vs SPY max DD: -18.8%. Portfolio drawdowns are shallow and short-lived.

Rolling Correlations (60d)

SPY correlation ~0.30 (low equity beta). TLT correlation near zero — portfolio is duration-neutral.
Portfolio Weights — Top 40 Positions
Risk Contributions — Top 30
SPY short dominates risk (199% variance contribution via short hedge). SLV and GLD are the largest long risk contributors — precious metals thesis is the core exposure.
Source: macro_risk (Streamlit) | EWMA cov, Black-Litterman optimization, governance layer | snow.ai
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