Decision Diversification for a live multi-asset portfolio
ADAA is a live multi-asset Portfolio Strategy System built around Decision Diversification: diversify the decision process before relying on asset diversification alone. Complementary allocation perspectives carry different horizons, opportunity views, defensive responses, and persistence, so portfolio behavior is not tied to one rule, one model family, or one regime response.
This is not a simple average of interchangeable rules. The design objective is to reduce dependence on any single decision path while retaining an interpretable, operationally disciplined monthly portfolio. The public interface keeps the official decision, current mark-to-market drift, and provisional intramonth preview clearly separated.
Three operating states, one decision process
The official month-end decision is the portfolio target. Current MTD shows how that portfolio has drifted since execution, while Intramonth Preview estimates a possible next target from partial-month data. Keeping these states separate makes the live interface useful for monitoring without blurring what is actionable.
Official Decision
The latest completed month-end target, effective from the first common trading-day close after month-end.
Current MTD
Mark-to-market drift of the official portfolio since that execution point. It does not create a new target.
Intramonth Preview
A provisional next-target estimate using the latest available month-to-date data. It may change before month-end and is not an executable target.
Diversify the decision process before diversifying the portfolio
ADAA treats allocation rules as decision engines with different jobs rather than interchangeable signals to average. Complementary perspectives respond at different speeds, emphasize different forms of cross-asset opportunity, and carry different defensive and persistence characteristics. Their diversity is intentional: the portfolio should not depend on one model family, one horizon, or one regime response.
Different horizons, different regime responses
Decision engines react at different speeds and with different defensive behavior as market conditions change.
Multiple views of cross-asset opportunity
Opportunity selection is informed by complementary views of leadership and persistence rather than one ranking lens alone.
Avoid one-path portfolio transitions
Persistent and risk-aware components help prevent the entire portfolio from changing for the same reason at the same moment.
Live Completed Performance
Updated with each canonical ADAA release. For a Korean investor implementation, ADAA Core + Dynamic FX is the primary live series: the asset-allocation Core remains intact while the governed FX overlay manages currency exposure. The cumulative and recent-return charts compare that implementation directly with ADAA Core. The 60/40 SPY/IEF portfolio remains a secondary market reference in the summary table. Current MTD and Intramonth Preview are excluded throughout.
Cumulative Performance
2008-06-02 → 2026-09-30 · completed through 2026-09-30 · current MTD excluded
Recent Completed Monthly Returns
Latest 12 completed holding months · 2025-10 → 2026-09 · current MTD excluded
| Series | Cumulative | CAGR | Vol | Sharpe | MDD | Calmar |
|---|---|---|---|---|---|---|
| ADAA Core + Dynamic FX | 700.62% | 12.02% | 11.32% | 1.06 | -11.71% | 1.03 |
| ADAA Core | 440.57% | 9.64% | 10.01% | 0.97 | -13.04% | 0.74 |
| 60/40 SPY/IEF | 337.38% | 8.38% | 11.11% | 0.78 | -30.87% | 0.27 |
Published paper evidence remains citable and unchanged
The public working paper remains the frozen research record. It is preserved below for reproducibility, but it is no longer the primary performance evidence on the live System page.
Live operation and published research remain distinct
ADAA Live System
Before release, ADAA refreshes its market and FX inputs, recalculates the current state, and runs consistency checks. The public dashboard then displays that prepared state; it does not rerun the strategy or fetch source data during a public session.
Open Dashboard ↗Diversify the Decisions, Not Just the Assets
Public Working Paper v1.34 documents the research question, historical evidence, robustness, implementation analysis, and Decision Diversification framework. That version remains citable as published while the live system continues to refresh.
Open Research PageMethods used in this system
These companion articles explain methods used directly in the system or needed to interpret its validation and outputs.
Portfolio Backtesting and Rebalancing
Defines the monthly rebalance, drift, and execution-clock accounting needed to interpret ADAA's official decisions and realized portfolio path.
Turnover, Transaction Costs, and Net Performance
Explains drift-aware turnover and transaction-cost accounting used when ADAA target changes are translated into net implementation results.
Momentum and Trend Signals
Provides the momentum and trend concepts used by parts of ADAA's decision-diversified allocation architecture.
Strategy Similarity and Decision Diversification
Provides the decision-diversification framework used to distinguish complementary allocation perspectives from redundant strategy behavior.
Information Timing, Data Vintages, and Real-Time Macro Data
Defines release-date, vintage, and availability discipline for ADAA components that use macroeconomic information.
Dynamic Currency Hedging and FX Overlay Accounting
Defines the raw-versus-admissible FX clock, hedge-overlay accounting, and cost-aware base-currency implementation used to interpret ADAA FX monitoring consistently.