HSBC's Top Three Hedge Funds Have Interesting Beta Correlations

It is interesting to watch strategies stay atop the HSBC Hedge Weekly top 20 performance list despite their apparent beta market environment turning negative. Consider the top three hedge funds as prime examples: the Dorset Energy Fund, often correlated to the price of oil; Quantedge Global Fund, in second place and not correlated to traditional systematic CTA strategies; and the Russian Prosperity Fund, whose correlation is stated in the title. Also see our favorite hedge fund letters [dalio] Hedge Funds Hedge Funds – An oil fund not entirely correlating to the price of oil David Knott and Donald Textor’s $159 million…