Composite Dual Momentum

CDM (Composite Dual Momentum) extends Gary Antonacci's original dual momentum framework across four independent, equal-weighted sleeves - equities, credit, real estate, and economic stress - rather than relying on a single equity decision. Each sleeve applies the same dual momentum logic: relative strength picks the stronger of two related assets, while an absolute momentum test versus T-bills determines whether that sleeve should be invested at all or held in cash. By spreading risk across four uncorrelated return streams instead of one, CDM aims to smooth returns and reduce reliance on any single market regime, trading some of GEM's simplicity for broader diversification.

CDM uses no leverage. For more details, see Composite Dual Momentum.