{"id":115113,"date":"2025-05-12T12:51:20","date_gmt":"2025-05-12T16:51:20","guid":{"rendered":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/chasing-rainbow-trends-with-commodity-bery-sectors\/"},"modified":"2025-05-23T12:29:45","modified_gmt":"2025-05-23T16:29:45","slug":"chasing-rainbow-trends-with-commodity-bery-sectors","status":"publish","type":[3762],"link":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/chasing-rainbow-trends-with-commodity-bery-sectors\/","title":{"rendered":"Chasing rainbow trends with commodity BERY sectors"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed' data-anchor='row-69d790a0bbf6f'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div>\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\t\t\t<\/div>\n\n\t\t\t<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">Chasing rainbow trends with commodity BERY sectors<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/commodities\/\" rel=\"category tag\">\n                    Commodities\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/copper-wire-1.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"\" title=\"A Heap Of Copper Wire\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed' data-anchor='row-69d790a0cd1ec'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">May 12, 2025<\/p>\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><strong>Bloomberg Professional Services<\/strong><\/p>\n\t\t\t<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    \t\t<div class=\"bb-tts\" \n\t\t\tdata-selector=\"main\"\n\t\t\tdata-label=\"Speak this page\"\n\t\t\tdata-custom-play=\"Play\"\n\t\t\tdata-custom-pause=\"Pause\"\n\t\t\tdata-custom-stop=\"Stop\" \n\t\t\tdata-overlay=\"false\" \n\t\t\tdata-invert=\"false\"\n\t\t\tdata-no-time=\"false\"\n\t\t\tdata-no-button-text=\"false\"\n\t\t\tdata-one-button=\"true\"\n\t\t\tdata-one-style=\"true\"\n\t\t\tdata-hide-stop=\"true\"\n\t\t\tdata-voice=\"Gordon\"\n\t\t\tdata-pitch=\"1\"\n\t\t\tdata-speed=\"1\"\n\t\t\tdata-align=\"flex-start\"\n\t\t>\n\t\t<\/div>\n\t\t\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed' data-anchor='row-69d790a0cf009'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    \t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p class=\"p1\"><i>This article was written by Jigna Gibb, Head of Commodities and Digital Assets Indices at Bloomberg.<\/i><\/p>\n<p class=\"p1\">Trend investing is one of the most established ways of capturing absolute returns across all asset classes.<span class=\"Apple-converted-space\">\u00a0 <\/span>Commodity Trading Advisors &#8211; CTAs &#8211; are a popular way to access multi-asset momentum investment, although they originate from trading systematic strategies on commodity futures. The conventional window for many momentum signals has been 12 months less 1 month; measuring long-term moves over the past year while eliminating short-term noise. But why stick with the standard? In this article, we explore trends in commodities sectors and introduce the concept of \u201cRainbow Trend\u201d.<\/p>\n<h2 class=\"p1\">Performance, stability and reliability assessment<\/h2>\n<p class=\"p1\">Too often signal-based strategies are designed with single parameter optimization, in our assessment we identify four key metrics to determine the appropriate lookback window for signal generation per sector. These metrics are historical performance, the stability of annual returns, how reliable returns have been for each window and fundamental rationale. The results of the first three metrics are shown in the heatmaps of Exhibit 1.<\/p>\n\t\t\t<\/div>\n\n\t\t\t<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1007\" height=\"472\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-1-Key-metrics-to-determine-look-back-for-BERY-sectors.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Too often signal-based strategies are designed with single parameter optimization, in our assessment we identify four key metrics to determine the appropriate lookback window for signal generation per sector. These metrics are historical performance, the stability of annual returns, how reliable returns have been for each window and fundamental rationale. The results of the first three metrics are shown in the heatmaps of Exhibit 1.\" title=\"Exhibit-1-Key-metrics-to-determine-look-back-for-BERY-sectors\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-1-Key-metrics-to-determine-look-back-for-BERY-sectors.png 1007w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-1-Key-metrics-to-determine-look-back-for-BERY-sectors.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-1-Key-metrics-to-determine-look-back-for-BERY-sectors.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-1-Key-metrics-to-determine-look-back-for-BERY-sectors.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-1-Key-metrics-to-determine-look-back-for-BERY-sectors.png 192w\" sizes=\"auto, (max-width: 1007px) 100vw, 1007px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p>From the heatmaps above, we have each row representing a commodity sector and the four different lookback windows across the columns. For Energy and Livestock sectors, the 1m-0m windows are favourable across performance, stability and reliability metrics. All the metrics for Industrial Metals select 3m-0m window. While the Precious Metals favour 12m-1m historically for stability and reliability, performance has been slightly better for the shorter windows. For the Softs and Grains, 6m-1m is chosen over 3m-1m based on their seasonal nature. For the agricultural sectors, we anchor signal performance at the start of January and June to avoid crossing seasons.<\/p>\n\t\t\t<\/div>\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed' data-anchor='row-69d790a0d2374'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Share your interests to receive Indices news, research, and event invitations directly to your inbox.<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_3290345889411691319\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/explore\/indices-insights-tailored-to-your-interests\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed' data-anchor='row-69d790a0df373'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    \t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<h2>No rainbow without rain \u2013 fundamentals matter<\/h2>\n<p>We introduce Rainbow Trend showing that different assets have different half-life cycles as represented by the coloured arcs of the rainbow. Each of the commodity sectors exhibits different patterns based on fundamentals. Precious metals are connected to the macro cycle, grains and softs are seasonal in nature, industrial metals are linked to the economic cycle and growth expectations, whereas energy and livestock are often driven by their own idiosyncrasies. Therefore, in Rainbow Trend, we consider using different lookback windows for each sector based on fundamentals and multiple metrics, rather than sticking with the standard signal of 12m-1m window for all.<\/p>\n\t\t\t<\/div>\n\n\t\t\t<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1834\" height=\"876\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-05-13-at-3.23.46%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Introducing rainbow trend\" title=\"Introducing rainbow trend\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-05-13-at-3.23.46%E2%80%AFPM.png 1834w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-05-13-at-3.23.46%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-05-13-at-3.23.46%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-05-13-at-3.23.46%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-05-13-at-3.23.46%E2%80%AFPM.png 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-05-13-at-3.23.46%E2%80%AFPM.png 192w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<h2>Building BERY rainbow trend<\/h2>\n<p>Bloomberg offers commodity sector indices across BCOM F0, BCOM F3 and BERY. In Exhibit 3, we tested each of these in the Rainbow Trend model with monthly rebalancing. The advantage of BERY is that it offers trending characteristics from both spot moves, and from its curve and carry returns. During periods of muted price momentum, the BERY version could harvest positive returns: in 2011-2020 period commodities lack a clear directional trend, but the BERY version still contributed +1.15% p.a. Even though we use BERY in this article, the same principles of Rainbow Trend can apply on BCOM F0 and BCOM F3 sectors.<\/p>\n\t\t\t<\/div>\n\n\t\t\t<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"908\" height=\"689\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-3-BERY-can-contribute-positively-even-when-spot-lacks-momentum.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Exhibit 3: BERY can contribute positively even when spot lacks momentum\" title=\"Exhibit-3-BERY-can-contribute-positively-even-when-spot-lacks-momentum\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-3-BERY-can-contribute-positively-even-when-spot-lacks-momentum.png 908w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-3-BERY-can-contribute-positively-even-when-spot-lacks-momentum.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-3-BERY-can-contribute-positively-even-when-spot-lacks-momentum.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-3-BERY-can-contribute-positively-even-when-spot-lacks-momentum.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-3-BERY-can-contribute-positively-even-when-spot-lacks-momentum.png 142w\" sizes=\"auto, (max-width: 908px) 100vw, 908px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p>Interestingly, certain commodity sectors are \u201cmore trendy\u201d than others which is seen in Exhibit 4. Higher momentum assets such as energy, industrial and precious metals tend to show stronger propensity to trend versus the agriculture and livestock sectors. The BERY commodity sectors are part of the BERY index family and the BERY index is a broad-based long commodity index. In the BERY Rainbow Trend strategy below, we apply the annual BERY target weights to long and short weights. When the BERY Rainbow Trend is combined as an overlay to BERY, we create a strategy that harvests trend, curve and carry premia in commodities.<\/p>\n\t\t\t<\/div>\n\n\t\t\t<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"898\" height=\"514\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-4-Commodity-sectors-have-different-colours-of-trend.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Exhibit 4: Commodity sectors have different colours of trend\" title=\"Exhibit-4-Commodity-sectors-have-different-colours-of-trend\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-4-Commodity-sectors-have-different-colours-of-trend.png 898w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-4-Commodity-sectors-have-different-colours-of-trend.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-4-Commodity-sectors-have-different-colours-of-trend.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-4-Commodity-sectors-have-different-colours-of-trend.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-4-Commodity-sectors-have-different-colours-of-trend.png 189w\" sizes=\"auto, (max-width: 898px) 100vw, 898px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p>BERY Rainbow Trend strategy dynamically adjusts its positions monthly, as highlighted in Exhibit 5, the strategy positions +100% during periods such as China-led demand boom of the late 2000s and Russia \/ Ukraine war and shifts position to -100% during correction episodes of Global Financial Crisis, China\u2019s economic slowdown and Covid Crash. Post Trump Tariffs, the BERY Rainbow Trend strategy has positioned +100% in April 2025 to fully participate in recent market bounce. The average historical position was +10% and the average annual turnover was around 60% showing some stability in the signals.<\/p>\n\t\t\t<\/div>\n\n\t\t\t<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"822\" height=\"498\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-5-BERY-Rainbow-Trend-dynamically-adjusts-sector-weights-.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Exhibit 5: BERY Rainbow Trend dynamically adjusts sector weights\" title=\"Exhibit-5-BERY-Rainbow-Trend-dynamically-adjusts-sector-weights-\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-5-BERY-Rainbow-Trend-dynamically-adjusts-sector-weights-.png 822w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-5-BERY-Rainbow-Trend-dynamically-adjusts-sector-weights-.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-5-BERY-Rainbow-Trend-dynamically-adjusts-sector-weights-.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-5-BERY-Rainbow-Trend-dynamically-adjusts-sector-weights-.png 100w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-5-BERY-Rainbow-Trend-dynamically-adjusts-sector-weights-.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Exhibit-5-BERY-Rainbow-Trend-dynamically-adjusts-sector-weights-.png 178w\" sizes=\"auto, (max-width: 822px) 100vw, 822px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<h2>Trend is your friend, until the ends when it bends into a rainbow<\/h2>\n<p>BERY Rainbow Trend can be used alongside long-only BERY investment or used stand alone as long-short to seek positive returns regardless of market direction. When successful, these trend strategies ride up the upward trajectory whilst pivoting positions in a timely manner without encompassing excessive turnover or transaction costs.<\/p>\n<p>The BERY Rainbow Trend strategy can act as a diversifier or defensive overlay in multi-asset portfolios. In the Rainbow Trend model, we examine multiple lookback windows and use a metric-based assessment based on fundamentals, performance, stability and reliability to determine the prime lookback window or combinations for each sector. Overall, the BERY Rainbow Trend strategy has long-term correlations that are neutral against Equities and Fixed Income at -4.5% and 6.9% respectively and slightly positively correlated with long commodities at +25%. More widely, the Rainbow Trend model can be expanded for trend strategies in a cross-asset universe.<\/p>\n<p>When market performances are grey, BERY Rainbow Trend brings colour!<\/p>\n\t\t\t<\/div>\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-none bbg-row--full-bg-bleed' data-anchor='row-69d790a0e7bbf'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div class=\"bbg-accordion transparent\">\n\t<input type=\"checkbox\"  id=\"bbg-accordion-toggle-69d790a0e8e71\">\n\t<div class=\"bbg-accordion-parent\" data-accordion-toggle aria-expanded=\"false\">\n\t\t<label class=\"bbg-accordion-label\" for=\"bbg-accordion-toggle-69d790a0e8e71\">\n\t\t\t\t<h5 class=\"bbg-accordion-title\" data-label=\"Disclaimer\">\n\t\tDisclaimer\n\t<\/h5>\n\n\t\t\t\t\t<\/label>\n\t<\/div>\n\t<div class=\"bbg-accordion-content\">\n\t\t\t\t\t<div class='bb-wysiwyg '>\n\t\t\t<p style=\"font-size: 16px !important; line-height: 24px;\">The data and other information included in this publication is for illustrative purposes only, available \u201cas is\u201d, non-binding and constitutes the provision of factual information, rather than financial product advice. 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Commodity Trading Advisors (CTAs), originally focused on commodity futures, now offer popular access to multi-asset momentum through systematic trading strategies.<\/p>\n","protected":false},"author":1933,"featured_media":115084,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"453","footnotes":""},"categories":[540,453],"tags":[3794,3673,547],"series":[],"class_list":["post-115113","post","type-post","status-publish","format-standard","hentry","category-commodities","category-markets","tag-commodities","tag-commodity-indices","tag-indices","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chasing rainbow trends with commodity BERY sectors | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"Trend investing captures absolute returns across asset classes. 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