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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 Sector Dispersion: Q1 2025 U.S. Sector Dashboard Insights Thumbnail

Asymmetry in Sector Dispersion: Q1 2025 U.S. Sector Dashboard Insights

Sector dispersion is a gift to the asymmetric investor. When sectors diverge this sharply in trend, volatility, and valuation, the environment rewards those who are willing to rotate tactically and structure trades to capture exponential upside while controlling downside risk. We may use this data to identify setups with capped downside and high upside optionality—hallmarks of true asymmetry.

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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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