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December 23 L/S
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Diversification

Asset Allocation


PSQ 47%USD=X 23%COIN 1.5%CRM 1.5%CRWD 1.5%DDOG 1.5%DT 1.5%DXCM 1.5%INTC 1.5%LYFT 1.5%MANH 1.5%MELI 1.5%PANW 1.5%PDD 1.5%PLTR 1.5%ROKU 1.5%SHOP 1.5%SNAP 1.5%SQ 1.5%TWLO 1.5%WDAY 1.5%ZS 1.5%EquityEquity

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in December 23 L/S, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.


-10.00%0.00%10.00%20.00%30.00%40.00%50.00%December2025FebruaryMarchAprilMay
-6.03%
37.32%
December 23 L/S
Benchmark (^GSPC)
Portfolio components

The earliest data available for this chart is Apr 14, 2021, corresponding to the inception date of COIN

Returns By Period


YTD1M6M1Y5Y*10Y*
^GSPC
S&P 500
-3.70%13.67%-5.18%9.18%14.14%10.43%
December 23 L/S2.47%-1.96%3.56%2.15%N/AN/A
COIN
Coinbase Global, Inc.
-16.83%36.33%-19.20%-2.23%N/AN/A
CRM
salesforce.com, inc.
-16.20%14.83%-9.74%0.86%9.91%14.78%
CRWD
CrowdStrike Holdings, Inc.
25.27%31.87%29.58%36.61%41.23%N/A
DDOG
Datadog, Inc.
-23.56%25.54%-15.85%-6.87%16.18%N/A
DT
Dynatrace, Inc.
-10.67%17.81%-10.62%5.38%9.26%N/A
DXCM
DexCom, Inc.
9.73%40.62%23.84%-33.02%-3.40%17.62%
INTC
Intel Corporation
4.74%15.83%-19.94%-29.56%-17.01%-1.91%
LYFT
Lyft, Inc.
0.78%30.39%-26.51%-26.88%-16.91%N/A
MANH
Manhattan Associates, Inc.
-30.85%29.85%-34.13%-12.93%19.54%13.44%
MELI
MercadoLibre, Inc.
41.73%31.97%35.85%40.38%25.25%32.56%
PANW
Palo Alto Networks, Inc.
3.61%23.60%-2.57%24.44%39.67%22.30%
PDD
Pinduoduo Inc.
13.31%16.94%-12.69%-21.03%15.07%N/A
PLTR
Palantir Technologies Inc.
57.54%54.10%113.22%452.64%N/AN/A
ROKU
Roku, Inc.
-17.46%11.36%-14.81%3.04%-13.53%N/A
SHOP
Shopify Inc.
-11.60%21.94%9.88%49.85%5.83%N/A
SNAP
Snap Inc.
-23.68%13.69%-34.13%-50.90%-14.77%N/A
SQ
Square, Inc.
5.31%0.00%18.91%25.81%N/AN/A
TWLO
Twilio Inc.
-2.64%29.37%13.87%79.51%-10.18%N/A
WDAY
-0.02%22.57%-0.00%3.34%N/AN/A
ZS
29.23%31.69%18.52%36.35%N/AN/A
PSQ
ProShares Short QQQ
3.18%-16.03%4.35%-8.36%-16.24%-16.76%
USD=X
0.00%0.00%0.00%0.00%N/AN/A
*Annualized

Monthly Returns

The table below presents the monthly returns of December 23 L/S, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20251.42%0.32%0.84%-0.05%-0.09%2.47%
2024-1.11%-1.23%-0.14%0.24%-2.82%-1.04%-1.06%0.51%0.21%1.39%3.41%-1.60%-3.33%
20232.02%0.13%-2.18%-2.46%1.70%-0.58%2.49%-1.60%0.59%0.28%5.94%1.37%7.66%
2022-0.75%1.01%-2.51%1.29%-3.58%2.94%-3.80%2.20%2.48%-0.39%-3.26%1.40%-3.27%
2021-1.07%-0.23%0.14%-1.39%0.22%1.11%-1.87%-3.78%-2.34%-8.92%

Expense Ratio

December 23 L/S has an expense ratio of 0.45%, placing it in the medium range. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.


Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of December 23 L/S is 23, meaning it’s performing worse than 77% of other portfolios on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of December 23 L/S is 2323
Overall Rank
The Sharpe Ratio Rank of December 23 L/S is 1818
Sharpe Ratio Rank
The Sortino Ratio Rank of December 23 L/S is 2525
Sortino Ratio Rank
The Omega Ratio Rank of December 23 L/S is 2424
Omega Ratio Rank
The Calmar Ratio Rank of December 23 L/S is 1616
Calmar Ratio Rank
The Martin Ratio Rank of December 23 L/S is 3232
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

This table presents a comparison of risk-adjusted performance metrics for positions. Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.



Portfolio components
Sharpe ratioSortino ratioOmega ratioCalmar ratioMartin ratio
COIN
Coinbase Global, Inc.
-0.030.451.05-0.15-0.30
CRM
salesforce.com, inc.
0.020.241.04-0.02-0.06
CRWD
CrowdStrike Holdings, Inc.
0.680.951.120.511.15
DDOG
Datadog, Inc.
-0.17-0.110.99-0.19-0.50
DT
Dynatrace, Inc.
0.160.271.030.010.04
DXCM
DexCom, Inc.
-0.56-0.460.91-0.55-0.89
INTC
Intel Corporation
-0.47-0.470.94-0.48-0.98
LYFT
Lyft, Inc.
-0.46-0.110.99-0.22-0.73
MANH
Manhattan Associates, Inc.
-0.28-0.220.96-0.32-0.72
MELI
MercadoLibre, Inc.
0.991.421.191.633.99
PANW
Palo Alto Networks, Inc.
0.661.061.130.782.33
PDD
Pinduoduo Inc.
-0.37-0.250.96-0.56-0.90
PLTR
Palantir Technologies Inc.
5.985.071.7011.3533.93
ROKU
Roku, Inc.
0.050.571.080.070.36
SHOP
Shopify Inc.
0.831.861.260.944.69
SNAP
Snap Inc.
-0.82-0.970.87-0.52-1.31
SQ
Square, Inc.
0.711.261.190.322.85
TWLO
Twilio Inc.
1.552.171.320.854.52
WDAY
0.090.251.03-0.01-0.03
ZS
0.801.171.170.553.40
PSQ
ProShares Short QQQ
-0.33-0.140.98-0.11-0.50
USD=X

The current December 23 L/S Sharpe ratio is 0.32. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Compared to the broad market, where average Sharpe ratios range from 0.44 to 0.96, this portfolio's current Sharpe ratio places it in the bottom 25%. This suggests that it may not be performing as well in terms of risk-adjusted returns compared to many other portfolios. The lower performance could be due to either lower returns, higher volatility, or a combination of both. This might indicate that the portfolio requires some fine-tuning. You can use the Portfolio Optimization tool to find an allocation that maximizes the Sharpe ratio.

Use the chart below to compare the Sharpe ratio of December 23 L/S with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.00December2025FebruaryMarchAprilMay
0.32
0.48
December 23 L/S
Benchmark (^GSPC)
Portfolio components

Dividends

Dividend yield

December 23 L/S provided a 3.06% dividend yield over the last twelve months.


TTM20242023202220212020201920182017201620152014
Portfolio3.06%3.39%2.85%0.25%0.04%0.19%0.85%0.48%0.05%0.05%0.05%0.05%
COIN
Coinbase Global, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
CRM
salesforce.com, inc.
0.58%0.48%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
CRWD
CrowdStrike Holdings, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DDOG
Datadog, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DT
Dynatrace, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DXCM
DexCom, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
INTC
Intel Corporation
0.60%1.87%1.47%5.52%2.70%2.65%2.11%2.56%2.33%2.87%2.79%2.48%
LYFT
Lyft, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MANH
Manhattan Associates, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MELI
MercadoLibre, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.19%0.38%0.36%0.52%
PANW
Palo Alto Networks, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PDD
Pinduoduo Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PLTR
Palantir Technologies Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ROKU
Roku, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SHOP
Shopify Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SNAP
Snap Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SQ
Square, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
TWLO
Twilio Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
WDAY
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZS
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PSQ
ProShares Short QQQ
6.47%7.15%6.01%0.35%0.00%0.31%1.75%0.94%0.02%0.00%0.00%0.00%
USD=X
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


-20.00%-15.00%-10.00%-5.00%0.00%December2025FebruaryMarchAprilMay
-6.24%
-7.82%
December 23 L/S
Benchmark (^GSPC)
Portfolio components

Worst Drawdowns

The table below displays the maximum drawdowns of the December 23 L/S. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the December 23 L/S was 14.58%, occurring on May 2, 2023. The portfolio has not yet recovered.

The current December 23 L/S drawdown is 6.24%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-14.58%Apr 29, 2021524May 2, 2023
-1.27%Apr 15, 20215Apr 21, 20215Apr 28, 202110

Volatility

Volatility Chart

The current December 23 L/S volatility is 1.72%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


2.00%4.00%6.00%8.00%10.00%12.00%14.00%December2025FebruaryMarchAprilMay
1.72%
11.21%
December 23 L/S
Benchmark (^GSPC)
Portfolio components

Diversification

Diversification Metrics


Number of Effective Assets

The portfolio contains 22 assets, with an effective number of assets of 3.59, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of diversification.

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

^GSPCUSD=XPDDDXCMINTCLYFTCOINSNAPPANWMELIROKUMANHWDAYCRMDTSQPLTRDDOGCRWDTWLOSHOPZSPSQPortfolio
^GSPC1.000.000.320.480.600.510.530.560.550.590.530.680.600.660.570.600.600.560.570.550.630.60-0.94-0.29
USD=X0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
PDD0.320.001.000.230.280.310.290.320.260.370.340.280.310.300.310.360.330.290.290.330.390.32-0.370.11
DXCM0.480.000.231.000.290.310.340.340.340.400.390.430.410.420.430.410.400.410.410.440.440.42-0.480.07
INTC0.600.000.280.291.000.370.350.340.350.360.390.420.400.430.350.390.390.360.370.400.430.38-0.61-0.14
LYFT0.510.000.310.310.371.000.470.490.350.470.490.430.410.450.440.520.540.470.450.490.500.44-0.510.19
COIN0.530.000.290.340.350.471.000.460.380.450.520.440.400.440.410.550.550.450.470.510.510.50-0.560.15
SNAP0.560.000.320.340.340.490.461.000.390.490.570.450.430.460.480.550.510.490.460.540.550.50-0.570.10
PANW0.550.000.260.340.350.350.380.391.000.470.410.560.550.540.530.440.520.570.660.510.530.67-0.600.05
MELI0.590.000.370.400.360.470.450.490.471.000.500.510.490.530.500.560.510.510.500.550.580.52-0.620.07
ROKU0.530.000.340.390.390.490.520.570.410.501.000.460.480.480.520.620.580.520.510.640.650.55-0.570.21
MANH0.680.000.280.430.420.430.440.450.560.510.461.000.610.590.600.500.520.570.570.550.550.59-0.67-0.01
WDAY0.600.000.310.410.400.410.400.430.550.490.480.611.000.660.610.520.520.600.610.590.540.65-0.640.08
CRM0.660.000.300.420.430.450.440.460.540.530.480.590.661.000.610.530.540.600.590.610.610.61-0.700.02
DT0.570.000.310.430.350.440.410.480.530.500.520.600.610.611.000.550.570.670.610.610.610.65-0.590.17
SQ0.600.000.360.410.390.520.550.550.440.560.620.500.520.530.551.000.590.540.520.660.610.58-0.610.19
PLTR0.600.000.330.400.390.540.550.510.520.510.580.520.520.540.570.591.000.590.610.610.620.64-0.650.16
DDOG0.560.000.290.410.360.470.450.490.570.510.520.570.600.600.670.540.591.000.670.630.610.72-0.630.17
CRWD0.570.000.290.410.370.450.470.460.660.500.510.570.610.590.610.520.610.671.000.630.590.78-0.630.17
TWLO0.550.000.330.440.400.490.510.540.510.550.640.550.590.610.610.660.610.630.631.000.670.67-0.590.26
SHOP0.630.000.390.440.430.500.510.550.530.580.650.550.540.610.610.610.620.610.590.671.000.64-0.670.16
ZS0.600.000.320.420.380.440.500.500.670.520.550.590.650.610.650.580.640.720.780.670.641.00-0.670.17
PSQ-0.940.00-0.37-0.48-0.61-0.51-0.56-0.57-0.60-0.62-0.57-0.67-0.64-0.70-0.59-0.61-0.65-0.63-0.63-0.59-0.67-0.671.000.28
Portfolio-0.290.000.110.07-0.140.190.150.100.050.070.21-0.010.080.020.170.190.160.170.170.260.160.170.281.00
The correlation results are calculated based on daily price changes starting from Apr 15, 2021