A daily-rebalanced copper-forward strategy that tilts between copper exposure (COPX/CPER) and opportunistic bets in leveraged equities, volatility hedges, and cash, using short-term momentum signals to attempt to ride copper-driven moves while managing risk.

- The strategy centers on copper exposure, using COPX (copper miners ETF) and CPER as its copper bets. - It rebalances every trading day, updating positions based on simple, short-term momentum signals (look-back window of 1 day for cumulative return). - If COPX has dropped sharply today (1‑day cumulative return < -8%), the model tilts toward a leveraged semiconductor bet (SOXL) as part of a momentum/rotation tilt. - If COPX has jumped substantially (1‑day cumulative return > 7%), the model tilts toward the volatility side (UVXY) to hedge or participate in volatility regimes. - In a more complex branch, if CPER’s signal relative to COPX meets certain thresholds (e.g., CPER returns are very weak, like less than -4%), the strategy selects a single asset among SVXY (inverse volatility), SOXL, TQQQ, and UPRO that performed worst over the period, and weights that chosen asset 100% within that sub-branch. - There is a cash-like fallback (BIL, a short-term Treasuries ETF) used in the conditional paths to preserve capital when copper-based signals aren’t signaling a clear tilt. - The portfolio is ultimately treated as equities in classification, but uses volatility hedges and cash to manage risk and capture opportunistic moves. - The design aims to “front-run” copper moves by adjusting exposures quickly and using momentum/volatility signals to guide tilts, with daily rebalancing to keep the signals current.

Out-of-sample, this copper-forward strategy offers higher upside than the S&P: ~28.5% annualized return with ~23.5% max drawdown and a Calmar ~1.21. Daily rebalancing plus momentum/volatility tilts deliver strong risk-adjusted growth with hedged downside.