No. of Recommendations: 10
First example is for a fairly long term backtest using UOPIX (double Nasdaq with high fees) and a treasury bond fund 9also high fees). Test from 1999 - 2019:
https://tinyurl.com/yxhh3muc

CAGR 12.53
SD 12.25
Best Yr 34.63
Worst Yr -0.68
MDD -15.81


A modified version using newer leveraged ETFs but only from 2011 - 2019
https://tinyurl.com/yxk54ucu

CAGR 22.03
SD 12.26
Best Yr 52.86
Worst Yr 7.65
MDD -6.51

Click on the Timing Periods link to see the monthly allocations. Evidently the Volatility increases in Down markets so that allocations to equities are reduced but increased in smother Up markets.
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No. of Recommendations: 0
Can you explain how the risk parity allocation works in layman terms?
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No. of Recommendations: 3
A pretty good link with supporting other links to papers giving a deep dive is:

Risk Parity Made Easy: Cliff’s Notes and Other Key Readings
https://blogs.cfainstitute.org/investor/2016/06/02/risk-pari...
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