# Policy Pulse

Source: https://whycoinmoves.com/strategies/keynote

A macro event crypto strategy based on the transmission of monetary policy information into market prices. Returns are concentrated in episodes of policy-related repricing.

Returns are percentages of fixed capital, non-compounded. Zero return does not establish an empty position. Missing observations are unavailable, not zero. Sources: backtest, live, mixed, missing. Month-end drawdowns hide intra-month losses. Backtests are in-sample; past performance does not guarantee future results.

Data through: 2026-10. Last data update: 2026-11-04T01:05:07Z.

## Metrics (2024-11–2026-10)

| Metric | Value |
| --- | --- |
| 1M return (available history, up to 1M) | −0.51% |
| 3M return (available history, up to 3M) | +0.39% |
| 6M return (available history, up to 6M) | +4.31% |
| 12M return (available history, up to 12M) | +11.07% |
| 24M return (available history, up to 24M) | +27.43% |
| Annualised return | +13.72% |
| Annualised volatility | +13.28% |
| Sharpe ratio | 1.03 |
| Sortino ratio | 3.27 |
| Profit factor (monthly) | 2.92 |
| Maximum month-end drawdown | −6.33% |
| Correlation to Bitcoin | −0.21 |

## Policy Pulse: monthly returns (%), 2024-11–2026-10, fixed capital, non-compounded

| Month | Strategy return (%) | Bitcoin return (%) | Source |
| --- | ---: | ---: | --- |
| 2024-11 | −3.06% | +37.19% | backtest |
| 2024-12 | +7.87% | −3.03% | backtest |
| 2025-01 | −3.33% | +9.44% | backtest |
| 2025-02 | 0.00% | −17.66% | backtest |
| 2025-03 | −2.99% | −2.11% | backtest |
| 2025-04 | 0.00% | +14.07% | backtest |
| 2025-05 | +13.01% | +11.07% | backtest |
| 2025-06 | −1.08% | +2.43% | backtest |
| 2025-07 | −0.23% | +8.04% | backtest |
| 2025-08 | 0.00% | −6.47% | backtest |
| 2025-09 | +1.14% | +5.34% | backtest |
| 2025-10 | +5.03% | −3.89% | backtest |
| 2025-11 | 0.00% | −17.56% | backtest |
| 2025-12 | +2.27% | −3.00% | backtest |
| 2026-01 | +7.23% | −10.16% | backtest |
| 2026-02 | 0.00% | −14.95% | backtest |
| 2026-03 | −1.77% | +1.95% | backtest |
| 2026-04 | −0.97% | +11.82% | backtest |
| 2026-05 | 0.00% | −3.48% | backtest |
| 2026-06 | +4.28% | −20.43% | backtest |
| 2026-07 | −0.36% | +7.26% | backtest |
| 2026-08 | 0.00% | +24.96% | backtest |
| 2026-09 | +0.90% | +6.40% | mixed |
| 2026-10 | −0.51% | −7.24% | live |

[Metric definitions](https://whycoinmoves.com/methodology.md) · [CSV](https://whycoinmoves.com/api/strategies/keynote.csv)