Masters in Business At the Money: Seeking Uncorrelated Returns
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Apr 8, 2026 
Andrew Beer, hedge-fund veteran and founder of Dynamic Beta Investments, built ETFs to mimic hedge-fund strategies at low cost. He explains how managed futures offer low correlation to stocks and bonds. He describes trend signals and big-market detectors like gold and rates. He also covers why simpler, liquid ETF access can bring diversification to traditional portfolios.
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Managed Futures Provide True Crisis Diversification
- Managed futures offer genuine low correlation to stocks and bonds when traditional diversification fails.
- The strategy has 50 years of track record and notably performed well in crises like the GFC and during early 2022 when stocks and bonds moved together.
60-40 No Longer Provides Reliable Diversification
- The 60-40 paradigm has weakened as stocks and bonds began moving together after inflation returned.
- Andrew Beer argues investors need an allocation that is lowly correlated to both assets and can perform when inflation-driven regime shifts occur.
Allocate A Small Slice To Managed Futures
- Add a small, nimble allocation that is uncorrelated to stocks and bonds to improve portfolio resilience.
- Beer suggests a 3%–5% position in managed futures for advisors to capture occasional large regime shifts.