Blog
Notes on mean-reversion, pair trading and tokenized equities. No hype, no DM signals, just methodology and real cases.
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Cointegration vs correlation: the trap that kills pair trading
Why high correlation doesn't make a profitable pair trade — and what cointegration actually tests instead. Engle-Granger walkthrough with runnable Python.
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Hurst, ADF and walk-forward backtest: a practical guide
Practical walkthrough of Hurst exponent, ADF test, and walk-forward backtesting for crypto pairs trading. With Python code and real data.
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BTC vs Apple is now an actual tradable ratio
Until June 2025 you couldn't systematically pair-trade BTC against Apple. xStocks changed that. Here's what that opens up.
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Where ratio rebalancing breaks: 4 cases when the strategy loses money
Ratio rebalancing isn't free money. Here are 4 specific cases when the strategy loses money — with real examples from 2024-2026 crypto markets.
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What is mean reversion in crypto markets
A beginner-friendly intro to mean reversion — what it is, why it exists, and where to look for it in crypto.
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How to choose pairs for ratio trading
Practical selection criteria for ratio mean-reversion pairs — what to look for, what to avoid, and why.
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Tokenized stocks (xStocks) explained for crypto traders
What xStocks are, how the peg works, and why they make new pair-trading strategies possible.
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MicroStrategy as Bitcoin proxy: the BTC/MSTR ratio
Strategy holds 818,334 BTC. That makes MSTR a leveraged BTC bet — and the BTC/MSTRx ratio one of the cleanest mean-reversion pairs available.
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Walk-forward vs in-sample backtesting
Why walk-forward backtests are honest and in-sample backtests are not. A short technical post with code.