Novum Global Ventures’s market-neutral stock trading bot StockHero.AI registered remarkable success during August to September, outperforming the stock market downturn.
Traditionally, September marks a challenging period for US stocks, often considered the worst month. Even in August, equity-based funds faced a 2.6% decline, with potential for more significant losses if not for the late-month rally. September witnessed a notable 4.87% contraction in the S&P 500 index, leading to many traders finding themselves with out-of-the-money positions or choosing to stay on the sidelines.
Amidst the widespread selloff, StockHero’s Market Neutral bot demonstrated resilience and outperformance throughout August and September compared to a traditional buy-and-hold strategy for numerous stocks. On average, the Market Neutral bot yielded an impressive average positive return of 3.43%, in stark contrast to the average negative return of -11.48% for a basket of actively traded companies, Novum Global said in a press statement.
Market neutral trading, a strategy employed by StockHero, capitalizes on relative price movements between different assets, generating returns irrespective of market direction. The strategy heavily relies on technical analysis to profit from various market directions.
Christopher Low, CEO and founder of StockHero.AI, emphasized the significance of utilizing data-backed trading decisions, stating, “Trading is a very difficult endeavor for most retail traders. However, by using a stock trading bot software like StockHero, a retail trader can trade more effectively by relying on data-backed trading decisions.”
SuperCryptoNews is part of the Novum Global Ventures group of companies.
