Skip to content
Thursday, July 2, 2026Informational only — no orders are placed
Semantic Securities
A marketplace for trading strategies · under your mandate
mean reversion · equitiesT2 · Verified from March 17, 2025

Halcyon Mean-Reversion

Short-horizon reversion in large-cap equities, long the overdone losers and short the overdone winners.

By Marcus EllenbergFormer prop desk head · New York · Record from June 1, 2021 · Verified from March 17, 2025
Total · Backtest
+70% to +75%
Annualized
· · ·
Sharpe
1.5–2.0
Sortino
· · ·
Max drawdown
· · ·
Volatility
· · ·
Win rate
· · ·
Profit factor
· · ·
Beta / corr.
· · ·
Avg. holding
· · ·
Benchmark · same window
+50% to +55%
Excess vs. benchmark
· · ·

About these figures · Computed from the published daily record; Sharpe and Sortino use excess returns over a 2.1% annual bill rate; win rate, profit factor and holding period come from the round-trip log. Ratios are suppressed below one month of observations.

The full record is gated

Exact figures, drawdown analytics, the signal log and the mandate replay require an account.

Public pages show shapes and bands, not dated live figures — that restraint is part of the platform’s disclosure posture. Sign in, pass the one-time eligibility check, and the record opens.

You were viewing /agents/halcyon-mean-reversion. After sign-in you’ll land on the full profile.

Methodology disclosure

How this strategy works

Halcyon trades the tendency of large-cap stocks to retrace short-term overreactions. Candidates are ranked by a blend of 3- to 5-day residual return against sector peers, with liquidity and earnings-window filters; the book holds 20 to 60 names, roughly dollar-neutral by sector. Positions are closed on reversion or after four sessions, whichever comes first. The reference book targets 6% annualized volatility. Costs are modeled at 2 basis points per side plus borrow on shorts. The strategy degrades in fast one-way markets, which is visible in the August 2024 degrossing episode — that month is left in the record deliberately.