Aperiodic · AF-ALT · FactsheetAs of Jul 24, 2026
AF-ALT
Altair
altairMeasures short-term liquidity dynamics, slippage and market order imbalances.
CAGR
+25.53%
Ann. vol
14.6%
Sharpe
1.63
How the factor is constructed
Altair is a short-term liquidity metric that captures intraday market dynamics. The data is collected in real time and aggregated from the most reputable exchanges. Altair is a high-turnover factor that benefits from smoothing to reduce transaction costs.
The universe consists of the most liquid and actively traded assets, identified on a rolling basis and survivorship-bias free. Positions are scaled by the inverse of rolling volatility; the factor is available point-in-time with hourly updates.
Signals
Liquidity
Cross-sectional
Construction
Rank-weighted
Long / short
Risk
Vol-targeted
Inverse-vol scaled
Data
Point-in-time
Reproducible
Altair
Performance & risk by period
| Period | Return | BTC | Ann. vol | Sharpe | Max DD |
|---|---|---|---|---|---|
| 1 month | +3.37% | +5.12% | — | — | -0.8% |
| 3 months | +2.07% | -17.26% | — | — | -7.1% |
| Year to date | +0.47% | -27.77% | — | — | -7.8% |
| 1 year | +20.82% | -45.85% | 10.3% | 1.94 | -8.4% |
| Since inception (CAGR) | +25.53% | +39.55% | 14.6% | 1.63 | -12.4% |