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Asymmetric Investing Glossary

Every term we use has a precise meaning. This glossary defines the concepts behind asymmetric risk management, trend following, volatility, and portfolio construction — the intellectual foundation of how we think about markets and protect capital.

A B C D E F G H I K L M N O P Q R S T U V W

Absolute Momentum Absolute Return Absolute Returns Active Risk Management Active Volatility Management Adaptive Asset Allocation Adaptive Trend Following Advance Decline Line Algorithm Alpha Alternative Investments Artificial Intelligence in the Investment Industry Asymmetric Asymmetric Advantage Asymmetric Alpha Asymmetric Beta Asymmetric Betting Asymmetric Correlation Asymmetric Drawdown Asymmetric ETF Asymmetric Global Macro Asymmetric Hedge Asymmetric Hedging Asymmetric Information Asymmetric Insight Asymmetric Investments Asymmetric Leverage Asymmetric Option Price Distribution and Bid-Ask Quotes: Consequences for Implied Volatility Smiles Asymmetric Payoff Asymmetric Return Asymmetric Return Capital Asymmetric Return Capital Asymmetric Return Compounding Asymmetric Return Funds Asymmetric Return Strategies Asymmetric Returns Asymmetric Reward to Risk Asymmetric Reward vs Risk Asymmetric reward-to-risk set up Asymmetric Risk Asymmetric Risk Exposure Asymmetric Risk Management Asymmetric Risk Profile Asymmetric Risk Reward Asymmetric Risk Reward Ratio Asymmetric Risks of Momentum Strategies Asymmetric Situation Asymmetric Taxation of Business Gains and Losses Asymmetric Thinking Asymmetric Trade Quotes Asymmetric Trading System Asymmetric Uncertainty Asymmetric Upside Asymmetric volatility around the world Asymmetrical Risk/Reward Asymmetry Artificial Intelligence (Asymmetry AI)Asymmetry Asset Management Asymmetry Capital Management Asymmetry Global Healthcare Asymmetry Global Macro Asymmetry Indexes Asymmetry Investment Asymmetry of Returns Asymmetry Payoff Asymmetry® ETFs for Asymmetric Investment Returns Asymmetry® index ASYMMETRY® Institutional Intelligence ASYMMETRY® Investment Program ASYMMETRY® Investment Programs Automation

Beta Buy and Holding Investing

CAN SLIM Investment System Can the VIX Signal Markets Direction? An Asymmetric Dynamic Strategy Critical Thinking Cross-Sectional Momentum

Data Snooping Mining Dredging Description, Definition, and Classification Discretionary Trading Drawdown Control Drawdown Control System Dynamic Risk Management

Empirical Evidence ETF Investment Strategists ETF Investment Strategy ETF Strategist Evidence Based Investing

Factor Investing Fear and Greed Index Forecasting ETFs with Machine Learning Algorithms Fund Strategist Portfolios

Gauging Market Sentiment Global Macro Global Tactical Asset Allocation Global Tactical Rotation®Global Tactical Trading

Hedge Funds Historical Volatility How Asymmetric is U.S. Stock Market Volatility?

Identifying Bear Market Bottoms and New Bull Markets A Study of 90% Days Impermanence Implied Volatility Index Option Strategies Inflection Point Intermarket Analysis Investment Alpha Investment Asymmetry Investments with asymmetric returns Investor Behavior Investor Objectives Investors Overreact Investors risk tolerance is asymmetric Investors Underreact Under-react Is asymmetric mean-reverting pattern in stock returns systematic?

Keltner Channels

Liquid Alternative Investments Logical Inconsistency

Machine Learning Market Bottom Market Top Math of Loss Momentum Momentum Seeking

Neural Network

Options Speculation Index Overconfidence Oversold

Pattern Recognition Portfolio Asymmetry Positive Asymmetry Positive Expectation Positive Skew Predictive Ability Predictive Power Predictive Power Predictive Value Prospect Theory Pseudoscience Pure Trend Following

Quantile Regression Analysis of the Asymmetric Return-Volatility Relation Quantitative Analysis of Investor Behavior

Realized Risk True Risk Actual Risk Relative Momentum Relative Strength Relative Return Relative Strength Index RSI Return Drivers Reward to Risk Calculation Risk & Reward Risk Measures Risk-to-Reward Ratio

S&P 500 Index S&P 500® Index S&P Indices Versus Active (SPIVA®)S&P Target Risk Index Global Asset Allocation Seasonality and Stock Market Seasons Sector Concentration Risk Disclosure Sector Rotation Seeking Asymmetric Returns Seeking Asymmetric Returns Simple technical trading rules and the stochastic properties of stock returns Situational Awareness Skew or Skewness Smart Beta Speed Symmetric Risk Systematic Systematic Global Macro Systematic Risk Management Systematic Trading Systematic Trend Following Systematic vs Discretionary Trading Systemic Risk

Tactical Management Tactical Trading Technical Analysis Technical Analysis The Long and Short of the Vol Anomaly The Risks of Volatility ETNs: A Recent Incident and Underlying Issues The Usefulness and Uselessness of Backtests Time Series Momentum Trend Following Trend Following Trend Following Trend Recognition

Unconstrained Investing Unconstrained Investment Management Unconstrained Investment Strategy Understanding the VIX Using Investor Sentiment as a Contrarian Indicator

Velocity Volatility ETF Strategy Volatility Expansion Volatility Risk Premium (VRP)Volatility Targeting Volatility Trading Strategies with VIX ETN ETF

We Dont Quite Know What We are Talking About When We Talk About Volatility What is an asymmetric return?What is Investor Psychology?What is news?When diversification fails

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Shell Capital Management, LLC

(865) 539-9070

Shell Capital Management, LLC (“Shell Capital”) has been a registered investment adviser since 2004. You can verify our firm’s registration and view our latest Form ADV and Part 2 brochures via the SEC’s Investment Adviser Public Disclosure (IAPD) under CRD# 136509. Headquartered in Tennessee, serving clients across the U.S., with a principal office at 200 Prosperity Drive, Knoxville, Tennessee 37923, and private meeting offices across the Southeast. Nothing on this website constitutes personalized investment advice or a solicitation to buy or sell any security. Shell Capital provides advisory services only in jurisdictions where properly registered or exempt from registration. Please review our SEC Form ADV for more information.

Investing involves risk, including the possible loss of principal. No investment strategy—including tactical management, trend following, risk management, volatility trading, or hedging—can guarantee a profit or protect against loss. Past performance does not guarantee future results. Discussions of risk management or hedging reflect general investment philosophies and do not guarantee future outcomes.

ASYMMETRY^® has been a federally registered trademark of Shell Capital Management, LLC since 2010 (USPTO Reg. No. 3904399).

Global Tactical Rotation^® has been a federally registered trademark of Shell Capital Management, LLC since 2011 (USPTO Reg. No. 3904399).

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