Learn to read quantitative research

Learn to challenge a quantitative claim

A useful quant workflow begins with a question you can test. This first lesson uses a real historical BTC/ETH dataset to show why holding two assets need not reduce risk relative to holding one.

1. Define the comparison

“Diversified” is incomplete without a benchmark. Are you comparing the mix with BTC, ETH, the average standalone volatility, or something else? Write the risk measure beside that comparison.

2. Build the return path

Calculate each daily simple return from adjacent closes. Define the allocation and rebalance rule before building portfolio wealth. Drawdown must be measured from that path; it cannot generally be recovered by averaging each asset's maximum drawdown.

3. Change a meaningful assumption

Compare 2024 with 2025. The direction of the BTC-versus-mix risk comparison persists in our sample, but its magnitude changes. That is sensitivity evidence, not proof it will persist in the future.

4. Inspect the result

Read the full free case study, then download its public notebook and data. The notebook includes a calendar-window selector and a fee illustration. No exchange account or API key is needed to reproduce the saved sample.

A guided next step

The Crypto risk workbook adds four structured exercises, space to work, separate worked solutions, a glossary and a reusable research checklist. It is a one-off introductory learning product, not a complete quant-trading course. Proposed launch price: US$19.

The core article, data and reproducibility notebook remain free. The paid product's additional value is the teaching sequence and worked practice. See the workbook and its preview.

Payment is not yet enabled. You can ask about the workbook through a free private enquiry. No subscription, trading system or investment return is promised.