One signal, two strategies. Algotoria Classic is the battle-tested family: a real-money record through different market conditions, and the larger capacity. Algotoria Classic Diversified and Algotoria Classic Stable run on the same algorithmic engine: Diversified extends the collateral base, Stable simplifies it. Actual trading results since 1 January 2024, time-weighted in USDT, shown gross or net of the performance fee, against Bitcoin, BITA Crypto 10, Gold and the S&P 500. Accounts can be verified on TradeLink or with read-only exchange API keys on request.
Battle-tested through different market conditions, including the January–February 2026 stress window
Real-money track record since October 2023 (3 years)
Drawdown budget never breached on the real-money track, gross of fees*
Exceptional CAGR: +114% (Classic Diversified) and +72% (Classic Stable) since inception (gross)
Larger capacity (about 150 million USD)
* On modelled after-fee bases, Classic Stable’s adjusted maximum drawdown reached −31.3% against its 30% budget.
Logarithmic y-axis: equal vertical distances are equal percentage moves. Daily closes, rebased to 0.00% on 1 January 2024.
Parameter
CollateralCollateralWhat the account holds as margin for its futures trades. Both strategies run on the same algorithmic engine; the collateral is what sets them apart.Classic Stable holds dollar-pegged stablecoins only, so its value moves least. Classic Diversified adds Bitcoin and tokenised real-world assets, managed by Algotoria: the collateral is spread across more issuers and asset types and is not tied to the US dollar alone, at the cost of larger swings.
Inception (live track)
Actual gross CAGRCAGRCompound annual growth rate of the real-money reference account since its inception, time-weighted in USDT and before Algotoria’s performance fee.
Target gross CAGR
Adjusted max drawdownAdjusted max drawdownAlgotoria’s adjusted definition, on daily values: a new high counts only at the lower of that day’s and the next day’s value, so a transient one-day high does not inflate the reference peak.Figures are gross; net drawdowns are larger by construction.
Raw max drawdownRaw max drawdownThe deepest fall below the running peak on daily closes, with no adjustment at either end.
Longest drawdown, daysLongest drawdownThe longest stretch, in calendar days, from the day the real-money track first fell below its adjusted peak to the day it regained it. A stretch still open on the as-of date is counted to that date.
Ulcer indexUlcer indexRoot-mean-square of the daily adjusted drawdown, in percentage points. Unlike maximum drawdown it counts both how deep and how long the account stays under water; lower is better.
Actual Calmar ratioCalmar ratioCAGR divided by the raw maximum drawdown over the same period, the deepest fall below the running peak on daily closes. It measures return per unit of drawdown risk; higher is better.All Algotoria strategies are optimised for the Calmar ratio.
Adjusted CalmarAdjusted CalmarCAGR divided by the adjusted maximum drawdown over the same period, shown beside the Calmar ratio for reference. Higher is better.
Target Calmar ratio
Positive monthsPositive monthsCalendar months that closed with a gain, out of all months since inception.
Risk tiers (drawdown budget)Risk tiersThe three drawdown budgets an investor can select at onboarding. A budget is a monitored ceiling, not an automatic stop: at two-thirds of it the Investment Committee reviews the account, and at the full budget the client elects to continue, lower the budget or stop.The budget is not a guarantee and can be exceeded.
Classic Diversified
RECOMMENDED
CollateralCollateralWhat the account holds as margin for its futures trades. Both strategies run on the same algorithmic engine; the collateral is what sets them apart.Classic Stable holds dollar-pegged stablecoins only, so its value moves least. Classic Diversified adds Bitcoin and tokenised real-world assets, managed by Algotoria: the collateral is spread across more issuers and asset types and is not tied to the US dollar alone, at the cost of larger swings.CollateralBroader diversification
BTCRWAs
BTC, approved stables and RWAs (managed by Algotoria)
Bitcoin and tokenised real-world assets beside the stablecoins spread the collateral across issuers and asset types and hedge against US-dollar debasement.
Inception (live track)Inception (live track) 1 October 2023
Actual gross CAGRCAGRCompound annual growth rate of the real-money reference account since its inception, time-weighted in USDT and before Algotoria’s performance fee.Actual gross CAGR +114% (Better of the two)
Target gross CAGRTarget gross CAGR 120% at 35% drawdown budget
Adjusted max drawdownAdjusted max drawdownAlgotoria’s adjusted definition, on daily values: a new high counts only at the lower of that day’s and the next day’s value, so a transient one-day high does not inflate the reference peak.Figures are gross; net drawdowns are larger by construction.Adjusted max drawdown −31.2%
Raw max drawdownRaw max drawdownThe deepest fall below the running peak on daily closes, with no adjustment at either end.Raw max drawdown −31.6%
Longest drawdown, daysLongest drawdownThe longest stretch, in calendar days, from the day the real-money track first fell below its adjusted peak to the day it regained it. A stretch still open on the as-of date is counted to that date.Longest drawdown, days 155 (Better of the two)
Ulcer indexUlcer indexRoot-mean-square of the daily adjusted drawdown, in percentage points. Unlike maximum drawdown it counts both how deep and how long the account stays under water; lower is better.Ulcer index 10.08
Actual Calmar ratioCalmar ratioCAGR divided by the raw maximum drawdown over the same period, the deepest fall below the running peak on daily closes. It measures return per unit of drawdown risk; higher is better.All Algotoria strategies are optimised for the Calmar ratio.Actual Calmar ratio 3.60 (Better of the two)
Adjusted CalmarAdjusted CalmarCAGR divided by the adjusted maximum drawdown over the same period, shown beside the Calmar ratio for reference. Higher is better.Adjusted Calmar 3.64 (Better of the two)
Target Calmar ratioTarget Calmar ratio 3.5
Positive monthsPositive monthsCalendar months that closed with a gain, out of all months since inception.Positive months 21 / 37
Risk tiers (drawdown budget)Risk tiersThe three drawdown budgets an investor can select at onboarding. A budget is a monitored ceiling, not an automatic stop: at two-thirds of it the Investment Committee reviews the account, and at the full budget the client elects to continue, lower the budget or stop.The budget is not a guarantee and can be exceeded.Risk tiers (drawdown budget) 15% / 25% / 35%
CollateralCollateralWhat the account holds as margin for its futures trades. Both strategies run on the same algorithmic engine; the collateral is what sets them apart.Classic Stable holds dollar-pegged stablecoins only, so its value moves least. Classic Diversified adds Bitcoin and tokenised real-world assets, managed by Algotoria: the collateral is spread across more issuers and asset types and is not tied to the US dollar alone, at the cost of larger swings.CollateralLower volatility
USDTUSDCRLUSDUSDG
Approved stablecoins, including USDT, USDC, RLUSD and USDGStablecoins other than USDTTo open USDT-margined perpetual positions, the account may borrow USDT against stablecoins other than USDT, and the borrowed USDT accrues interest at the exchange’s rate, borne by the account. Yield-bearing stablecoins (RLUSD, USDG) typically earn more than this cost, offsetting it and adding to returns. USDT collateral carries no such cost.
Dollar-pegged collateral only, so the account carries no Bitcoin price exposure and its value moves less.
Inception (live track)Inception (live track) 1 January 2024
Actual gross CAGRCAGRCompound annual growth rate of the real-money reference account since its inception, time-weighted in USDT and before Algotoria’s performance fee.Actual gross CAGR +72%
Target gross CAGRTarget gross CAGR 90% at 30% drawdown budget
Adjusted max drawdownAdjusted max drawdownAlgotoria’s adjusted definition, on daily values: a new high counts only at the lower of that day’s and the next day’s value, so a transient one-day high does not inflate the reference peak.Figures are gross; net drawdowns are larger by construction.Adjusted max drawdown −24.8% (Better of the two)
Raw max drawdownRaw max drawdownThe deepest fall below the running peak on daily closes, with no adjustment at either end.Raw max drawdown −24.8% (Better of the two)
Longest drawdown, daysLongest drawdownThe longest stretch, in calendar days, from the day the real-money track first fell below its adjusted peak to the day it regained it. A stretch still open on the as-of date is counted to that date.Longest drawdown, days 245
Ulcer indexUlcer indexRoot-mean-square of the daily adjusted drawdown, in percentage points. Unlike maximum drawdown it counts both how deep and how long the account stays under water; lower is better.Ulcer index 9.76 (Better of the two)
Actual Calmar ratioCalmar ratioCAGR divided by the raw maximum drawdown over the same period, the deepest fall below the running peak on daily closes. It measures return per unit of drawdown risk; higher is better.All Algotoria strategies are optimised for the Calmar ratio.Actual Calmar ratio 2.90
Adjusted CalmarAdjusted CalmarCAGR divided by the adjusted maximum drawdown over the same period, shown beside the Calmar ratio for reference. Higher is better.Adjusted Calmar 2.91
Target Calmar ratioTarget Calmar ratio 3.0
Positive monthsPositive monthsCalendar months that closed with a gain, out of all months since inception.Positive months 20 / 34 (Better of the two)
Risk tiers (drawdown budget)Risk tiersThe three drawdown budgets an investor can select at onboarding. A budget is a monitored ceiling, not an automatic stop: at two-thirds of it the Investment Committee reviews the account, and at the full budget the client elects to continue, lower the budget or stop.The budget is not a guarantee and can be exceeded.Risk tiers (drawdown budget) 10% / 20% / 30%
Custom-Collateral. A third SMA profile for investors who prefer to manage their collateral assets themselves. The client retains full ownership and control of the collateral — Algotoria does not acquire, rebalance, or dispose of it. Any asset supported as cross-margin on the client’s exchange account is accepted (BTC, ETH, BNB, USDC, DAI, PAXG, XAUT, and similar). The Isolated USDT method (AMA §1.1.18(b)) applies for performance-fee accounting: only the USDT balance generated by futures trading is measured — the market value of the underlying collateral is excluded from PnL.
Signalgeneration
Both strategies are driven by a single, fully automated engine: a risk-parity portfolio of non-correlated sub-strategies traded across up to 40 of the most liquid cryptocurrency perpetual futures. 66% of capital is allocated to mid-frequency trend-following systems and 34% to counter-trend mean-reversion — a split the Investment Committee resets each quarter within a 50–100% / 0–50% range — operating on the 5-minute, 15-minute, 1-hour and 4-hour timeframes — deliberately above high-frequency intervals to preserve execution quality and strategy capacity. The blended book executes roughly 50 trades per day at an average holding period near three to four days, and the portfolio is optimised to maximise the Calmar ratio rather than raw return. Leverage is scaled inversely to prevailing volatility and hard-capped at 3×.
Entry signals
Long and short positions are initiated by a confluence of technical and statistical signals that monitor price action continuously: N-period maximum / minimum price discovery for breakout identification, Parabolic SAR for momentum-shift detection, simple moving averages for baseline trend direction, price-channel metrics that flag volatility contraction ahead of a directional move, and standard-deviation and proprietary volatility measures that gate engagement. The systems seek the early stages of a sustained directional move and ride the resulting momentum.
Exit signals
Exits are equally systematised and prioritise capital preservation: dynamic trailing stop-losses that ratchet with a favourable trend, fixed hard-coded stop-losses to cap catastrophic drawdowns, take-profit limit orders set on statistical probability, mean-reversion triggers on excessive deviation, time-stop closures when expected momentum fails to materialise, and immediate closure on an inverse directional signal.
Strategy footprint & capital split
Position concentration — cap at 3× leverage
BTC ≤ 150% · ETH ≤ 150% · any single altcoin ≤ 30% · the non-BTC/ETH basket ≤ 90% in aggregate, each measured against portfolio Net Market Value and scaling proportionally with the account’s selected drawdown budget.
Traded instruments
The mandate permits up to 40 USDT-margined perpetual futures. The active book is currently eleven: BTC, ETH, SOL, XRP and BCH as single-name legs, plus a ten-constituent altcoin basket sleeve (ADA, AVAX, BNB, BTC, DOGE, ETH, LINK, SOL, TRX, XRP) traded infrequently and by counter-trend strategies only.
Trend-following 66%
Counter-trend 34%
Investment Committee range by market regime — trend-following 50–100%, counter-trend 0–50%.
Reviewed quarterly by the Investment Committee: the risk budget, the strategy roster (systems added or retired to enhance the Calmar ratio and minimise inter-strategy correlation), the risk-parity weights, the trend / counter-trend balance and the traded universe.
Methodology
Returns are computed as daily time-weighted returns with compounding from the unrealised margin balance of each strategy’s reference portfolio, denominated in USDT and rebased to 0.00% on 1 January 2024. The chart and the headline drawdown / Calmar figures are gross of performance fees and inclusive of exchange trading costs; the matching net-of-fee figures are published per strategy, in the Returns and Risk & Return tables on the Algotoria Classic Diversified and Algotoria Classic Stable pages and in the monthly factsheets. Benchmarks: Bitcoin (BTC-USDT spot, OKX), BITA Crypto 10 (market-cap-weighted top-10 cryptocurrency index, BITA GmbH), Gold (PAXG-USDT spot, OKX), S&P 500 (SPY-USDT-SWAP perpetual on OKX). Risk-free rate: FRED GS3M. The Algotoria return series is sourced from the proprietary Algotoria Monitoring System — hourly exports from the firm’s own production trading infrastructure — and is refreshed monthly; benchmark data comes from the respective public sources. Accounts can be verified on TradeLink or with read-only exchange API keys on request. Since the report as of 31 July 2026 the Algotoria series has been derived from this hourly feed rather than the third-party export used previously: total return, CAGR and drawdown are substantially unchanged, but volatility is lower and Sharpe correspondingly higher, so risk metrics published before that date are not directly comparable.
Adjusted drawdown
Drawdown figures on this page use the peak-smoothed definition: the value path is first smoothed by a one-day look-ahead minimum (smoothed[t] = min(V[t], V[t+1])); the adjusted peak is the running maximum of the smoothed series; reported drawdown is V[t] / adj_peak[t] − 1. This filters transient one-day highs that would otherwise inflate the reference peak. The same algorithm is applied uniformly across every benchmark so cross-asset comparisons are like-for-like.
Basis. All drawdown figures, the agreed drawdown budget, and the live risk monitoring engine operate on the gross trading-account return curve — before deduction of Algotoria’s quarterly performance fee. Net-of-fee drawdowns experienced by the investor are larger by construction.
Drawdowns are a feature, not a bug
Typical annual drawdowns run 20–25%; historical back-tests reached 30%. All drawdown figures and the agreed drawdown budget are measured on the gross trading-account return curve, before deduction of Algotoria’s quarterly performance fee. Do not allocate capital you cannot afford to see marked down by one-third at some point.
Crypto is a leveraged risk-on asset
Despite ETF adoption, Bitcoin’s daily volatility is three to four times that of the S&P 500. The asset class remains regime-dependent.
Past performance is not a promise
Live data shown here is historical. Future results will differ from history, often materially. Read the full Risk Notice before allocating.
Typical onboarding takes one business day, plus the international bank transfer if you fund from fiat.
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Why is Classic Diversified recommended?
For two reasons. First, diversification: Classic Stable’s collateral is entirely US-dollar stablecoins, so it depends on their issuers and on the US dollar. Classic Diversified also holds Bitcoin and tokenised real-world assets, managed by Algotoria, which spreads the collateral across issuers and asset types and gives some protection against US-dollar debasement. Second, shorter drawdowns: on the live record Classic Diversified has regained its previous high faster, with a longest drawdown of 155 days against 245 for Classic Stable. The trade-off is depth: Classic Diversified runs on a 35% drawdown budget against 30%, and its maximum drawdown has been deeper. Classic Stable remains the choice for investors who require collateral held strictly in US-dollar stablecoins.
Your choice. The comparison chart opens on gross, and a Gross | Net 25% | Net 30% switch above it shows the same daily series net of a 25% or 30% quarterly performance fee above the high-water mark. The Calmar / drawdown figures in the table are computed on the gross trading-account return curve, before deduction of the quarterly performance fee — that is the curve the agreed drawdown budget and the live risk engine operate on. Net-of-fee figures for every metric are published per strategy: the Returns and Risk & Return tables on the Algotoria Classic Diversified and Algotoria Classic Stable pages give them at each performance-fee tier, and the monthly factsheets carry the same rows. There is no management fee, hurdle rate, entry fee or lock-in; Algotoria only earns when the account makes new profits above its rolling high-water mark. Monthly investor reports show gross and net-of-fee returns for each Separately Managed Account, together with the matching net drawdowns, which are larger by construction.
Source · qa/07-performance-benchmarking.md §7.1
If I make a loss in one period, do you bring it forward to the next period?
Yes — losses carry forward indefinitely under our Rolling High Watermark methodology. The Success Fee is only charged on Net Trading Profits that take the account above its highest historical ending balance at the close of any previous calendar quarter — formally, P = E − MAX(B, HW) − I. If a quarter ends below that peak, no fee is assessed and you keep paying nothing until the strategy has fully recovered the prior loss and earned new profit on top. Fees paid in earlier profitable quarters are not clawed back. Diversified and Stable use the NAV-Based variant (AMA §1.1.18(a)); Custom-Collateral accounts use the Isolated USDT variant (§1.1.18(b)).
Source · qa/10-commercial-terms.md §10.1
Can I reduce my risk tier? What does that change?
Yes. Each strategy offers three Investment Committee–approved risk tiers (High / Medium / Conservative) selected during onboarding and adjustable at any quarter-end. Lower tiers scale leverage down — average leverage drops from 100% at High to 33% at Conservative, max leverage from 300% to 100% — and the drawdown budget drops proportionally (Stable: 30 / 20 / 10%; Diversified: 35 / 25 / 15%). Lower-risk tiers carry a higher minimum investment ($50k / $100k / $150k).
Source · qa/10-commercial-terms.md §10.1
Can I invest BTC and ETH?
Yes, through one of two profiles. Under the Diversified-Collateral SMA you deposit USDT only and Algotoria builds and manages the collateral (BTC, approved stablecoins and RWAs) on your behalf; PnL is computed with the NAV-Based Method (P = E − MAX(B, HW) − I), so collateral price moves are included in your performance and the Success Fee base. Under the Custom-Collateral SMA you deposit and retain full control of your own collateral — BTC, ETH, BNB, USDC, PAXG or other approved digital assets — and PnL is computed with the Isolated Method (P_iso = U_E − MAX(U_B, HW_iso) − I_USDT), which tracks only the USDT balance change from futures trading and excludes collateral price moves. The choice determines who manages collateral risk and what the Success Fee is calculated on.
There are no lock-in periods — you retain full liquidity at any time. Submit the request to your relationship manager with a 5-day notice; the engine systematically unwinds the corresponding exposure on your account, prioritising the most liquid instruments and scaling leverage down to limit slippage. Funds settle on your own exchange sub-account, which you control end-to-end — Algotoria has trade-only API access and cannot move capital out. A mid-quarter withdrawal triggers a pro-rata Success Fee on the Net Trading Profit earned up to the exit date, computed on the same Rolling High Watermark used for standard quarterly billing.
Source · qa/10-commercial-terms.md §10.2
Why should I trust numbers on your own site?
You shouldn’t take them on trust. The chart streams from the same CSV that powers our internal reporting, and every figure is independently verifiable on TradeLink Passport via a read-only exchange API. The “Verify on TradeLink” buttons above link directly to the two reference portfolios. Algotoria can additionally provision read-only API keys to your designated auditor for full trade-history access, or export comprehensive trade logs on request.
Source · qa/07-performance-benchmarking.md §7.2
How did the strategy perform during crypto crises?
The strategy is directional and trades both sides of the market, so sustained downward moves are favourable rather than catastrophic. The most recent example within the official track-record window is January–February 2026: while Bitcoin declined roughly 24% over those two months, the Classic Stable strategy delivered approximately +49% gross and the Classic Diversified strategy approximately +28% gross. Both figures are independently verifiable on TradeLink. The risk-parity framework and volatility-scaled sizing mean back-test and live worst-case drawdowns have stayed inside the agreed risk ceiling across the published window.
Algotoria Limited is a BVI-regulated Approved Investment Manager under the Securities and Investment Business Act, 2010. The content on this page is informational and does not constitute an offer to sell securities or investment advice. Services are available to professional investors only. Past performance is not indicative of future results.