A rules-based, risk-on/risk-off portfolio. It adds leveraged tech after selloffs, hedges when markets look overheated, and otherwise blends growth, Treasuries, gold, staples/utilities, and hedges—guided by recent-move and credit conditions.

It first checks if the Nasdaq has been very jumpy. If yes, it splits between stocks (go long the big‑tech index if conditions favor, or its inverse) and ballast (Treasuries, gold). If not: after selloffs it adds 3× tech/semis with bond/gold ballast; when too hot it hedges with a volatility fund and consumer staples; otherwise it compares growth vs utilities and credit. If growth and credit lead, it mixes leveraged stocks with inflation‑protected bonds; if not, it uses defenses (a low‑risk‑vs‑high‑risk spread, Treasuries or the inverse Nasdaq) and, for the other half, either utilities or gold/miners—whichever has lagged lately for diversification.

Regime-based strategy with hedges that beats the S&P on risk-adjusted return. OOS: ~40.8% annualized vs ~19.0% SPY; Sharpe ~1.39 vs 1.12; Calmar ~2.35; max drawdown ~17.3% vs 18.8%; beta ~0.98. Diversified hedges boost upside, tame risk.