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Asymmetric Investment Returns

Asymmetric Investment Returns is a blog authored by Mike Shell since 2006, covering topics about asymmetric investing and trading for asymmetric risk/reward in pursuit of asymmetry. 

Asymmetry in Action: Sector Dispersion Widens in March 2025 Industry Dashboard Thumbnail

Asymmetry in Action: Sector Dispersion Widens in March 2025 Industry Dashboard

When industry performance disperses this widely, the opportunity for asymmetric positioning multiplies. Whether through long/short pairs, structured options, or sector rotation with predefined exits, we may use this dashboard data to seek positive asymmetry—capping downside while preserving exponential upside. At Shell Capital, this is the edge we pursue in dynamic markets.

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The Volatility Mullet: What the VIX Curve Is Quietly Telling Us Today Thumbnail

The Volatility Mullet: What the VIX Curve Is Quietly Telling Us Today

You wouldn’t know it from watching the VIX index alone, but something interesting is happening beneath the surface. The VIX futures curve — the structure that really drives volatility-linked products like VXX, VIXY, and UVXY — is showing signs of indecision. Here's what it means for asymmetric hedging.

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Asymmetry in Equal Weight Sectors: What the Latest Data Reveals Thumbnail

Asymmetry in Equal Weight Sectors: What the Latest Data Reveals

Discover how the latest S&P 500 Equal Weight Sector Dashboard reveals asymmetric opportunities for investors. Learn why equal weight indices may outperform cap-weighted benchmarks in the current regime, how factor tilts like size and value create imbalance, and how dispersion and concentration risk impact portfolio heat. This analysis explores sector rotation, volatility, and factor exposures—through the lens of Shell Capital’s ASYMMETRY® investment strategy.

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Asymmetric Insights from the March 2025 Dispersion, Volatility, and Correlation Report Thumbnail

Asymmetric Insights from the March 2025 Dispersion, Volatility, and Correlation Report

Discover asymmetric investment insights from the March 2025 S&P Dispersion, Volatility & Correlation Dashboard. Learn how elevated volatility, low dispersion, and rising global correlations create opportunities for volatility reversion trades, convex option strategies, and portfolio-level asymmetry. Explore how small caps, emerging markets, and tactical hedging may offer defined-risk setups with exponential upside.

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How Flow and Positioning Data Can Reveal Asymmetric Opportunities Thumbnail

How Flow and Positioning Data Can Reveal Asymmetric Opportunities

Institutional fund flows, futures positioning data, and ETF rotation trends may help reveal where market participants are concentrated—and where asymmetric opportunities could emerge. By analyzing institutional fund flows and futures positioning across asset classes, we may identify regime shifts, crowded trades, and potential setups offering convexity, optionality, and favorable asymmetry with predefined risk and exponential upside.

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