Zenith

Backtest for 23 of my most closely followed assets based upon Regime below. Trades placed on open the day after Regime changed. Ex. Regime changes using data through 4/1, trades placed at the open on 4/2. + = positive liquidity - = negative liquidity Let me know questions!

5/22/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: -0.40% Total: -1.26%

5/21/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 0.82% Total: -0.86%

5/16/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 0.04% Total: -1.79%

5/14/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 1.13% Total: -1.29%

5/13/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 0.75% Total: -2.39%

5/12/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 0.43% Total: -3.11%

5/9/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 0.12% Total: -3.53%

5/8/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: -0.80% Total: -3.64%

5/7/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 1.04% Total: -2.87%

5/6/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 0.51% Total: -3.87%

5/5/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 0.71% Total: -4.35%

5/2/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: -2.02% Total: -5.03%

5/1/2025 Allocation Equities: 0% Bonds: 0% Gold: 100% Commodities: 0% Return Previous Day: -0.68% Total: -3.07%

4/30/2025 Allocation Equities: 0% Bonds: 0% Gold: 100% Commodities: 0% Return Previous Day: -0.39% Total: -2.39%

4/29/2025 Allocation Equities: 0% Bonds: 0% Gold: 100% Commodities: 0% Return Previous Day: 0.17% Total: -2.01%

4/28/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: -0.58% Total: -2.17%

Key level for the 10 Year at 4.25%

4/25/2025 Allocation Equities: 33.33% Bonds: 0% Gold: 33.33% Commodities: 33.33% Return Previous Day: 1.22% Total: -1.60%

4/24/2025 Allocation Equities: 0% Bonds: 0% Gold: 50% Commodities: 50% Return Previous Day: -1.74% Total: -2.78%

4/23/2025 Allocation Equities: 0% Bonds: 0% Gold: 50% Commodities: 50% Return Previous Day: -0.70% Total: -1.06%