Altegris Clearing Solutions Valia Capital Management LLC Global Tactical Program
Monthly Performance (%)
Date Range: 04/14 - 10/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 1.24 -1.10 0.66 -0.52 0.46 -0.88 -0.85 0.72 0.11 -0.37 -0.56
2016 -2.32 3.39 0.52 0.63 0.76 -1.57 0.35 1.14 -0.57 1.92 -1.26 -1.59 1.26
2015 0.10 2.56 -0.85 0.88 -1.71 -1.27 3.79 3.02 2.60 4.25 -0.89 -0.11 12.83
2014 0.11 0.47 -2.83 -0.96 -2.35 -7.61 -4.55 -4.33 -20.25
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

Valia Capital Management is a discretionary, short-term trading CTA.The head traders of Valia Capital Management are Anthony Lazzara, previous member of the CBOT and futures trader since 1990, and Jason Rotman, a graduate of Princeton University and futures trader since 2002. The objective of the Global Tactical Program is to achieve appreciation of clients' assets through technical, short-term trading (mainly 1-10 day holds). Valia focuses primarily on 4 liquid markets: e-mini SP500, WTI crude oil, gold, and bonds, with an approximate 5% window to trade other asset classes. Numerous technical inputs are continuously monitored for ideal risk/reward set-ups.

Performance Statistics
Date Range: 04/14 - 10/17
  Program SP500 TR Altegris 40
Total Return -9.40% 48.27% 16.04%
Annualized Return -2.78% 11.62% 4.24%
Annualized Std. Deviation 7.71% 9.47% 8.99%
Correlation 0.08 -0.24
Sharpe Ratio (rf=2.5%) -0.69 0.96 0.19
Worst Month -7.61% -6.03% -5.20%
Date of Worst Month 10/2014 08/2015 06/2015
Worst Drawdown -20.99% -8.35% -12.85%
Date of Worst Drawdown 6/14 - 6/15 7/15 - 9/15 3/15 - 9/17
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 04/14 - 10/17
Year or YTD Program SP500 TR Altegris 40
2017 -0.56 16.92 0.02
2016 1.26 11.98 -3.13
2015 12.83 1.41 0.09
2014 -20.25 10.86 18.75
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 04/14 - 10/17
Date: 10/31/2017
Perf: $1,151.61 Date: 9/30/2017
Perf: $1,105.30 Date: 8/31/2017
Perf: $1,129.12 Date: 7/31/2017
Perf: $1,110.68 Date: 6/30/2017
Perf: $1,106.37 Date: 5/31/2017
Perf: $1,139.65 Date: 4/30/2017
Perf: $1,137.49 Date: 3/31/2017
Perf: $1,144.35 Date: 2/28/2017
Perf: $1,161.31 Date: 1/31/2017
Perf: $1,136.53 Date: 12/31/2016
Perf: $1,151.38 Date: 11/30/2016
Perf: $1,142.70 Date: 10/31/2016
Perf: $1,155.41 Date: 9/30/2016
Perf: $1,186.01 Date: 8/31/2016
Perf: $1,201.51 Date: 7/31/2016
Perf: $1,234.72 Date: 6/30/2016
Perf: $1,222.25 Date: 5/31/2016
Perf: $1,172.43 Date: 4/30/2016
Perf: $1,193.31 Date: 3/31/2016
Perf: $1,224.03 Date: 2/29/2016
Perf: $1,260.20 Date: 1/31/2016
Perf: $1,229.94 Date: 12/31/2015
Perf: $1,188.58 Date: 11/30/2015
Perf: $1,216.56 Date: 10/31/2015
Perf: $1,176.45 Date: 9/30/2015
Perf: $1,197.28 Date: 8/31/2015
Perf: $1,171.85 Date: 7/31/2015
Perf: $1,192.48 Date: 6/30/2015
Perf: $1,147.61 Date: 5/31/2015
Perf: $1,210.56 Date: 4/30/2015
Perf: $1,219.34 Date: 3/31/2015
Perf: $1,268.29 Date: 2/28/2015
Perf: $1,240.87 Date: 1/31/2015
Perf: $1,242.86 Date: 12/31/2014
Perf: $1,187.52 Date: 11/30/2014
Perf: $1,166.98 Date: 10/31/2014
Perf: $1,101.44 Date: 9/30/2014
Perf: $1,085.49 Date: 8/31/2014
Perf: $1,069.55 Date: 7/31/2014
Perf: $1,026.14 Date: 6/30/2014
Perf: $1,034.42 Date: 5/31/2014
Perf: $1,025.60 Date: 4/30/2014
Perf: $1,000.00 Date: 10/31/2017
Perf: $1,471.85 Date: 9/30/2017
Perf: $1,438.34 Date: 8/31/2017
Perf: $1,409.31 Date: 7/31/2017
Perf: $1,404.95 Date: 6/30/2017
Perf: $1,376.59 Date: 5/31/2017
Perf: $1,368.11 Date: 4/30/2017
Perf: $1,349.09 Date: 3/31/2017
Perf: $1,335.34 Date: 2/28/2017
Perf: $1,333.74 Date: 1/31/2017
Perf: $1,282.81 Date: 12/31/2016
Perf: $1,258.89 Date: 11/30/2016
Perf: $1,234.45 Date: 10/31/2016
Perf: $1,190.40 Date: 9/30/2016
Perf: $1,212.47 Date: 8/31/2016
Perf: $1,212.23 Date: 7/31/2016
Perf: $1,210.53 Date: 6/30/2016
Perf: $1,167.45 Date: 5/31/2016
Perf: $1,164.43 Date: 4/30/2016
Perf: $1,143.84 Date: 3/31/2016
Perf: $1,139.39 Date: 2/29/2016
Perf: $1,067.05 Date: 1/31/2016
Perf: $1,068.44 Date: 12/31/2015
Perf: $1,124.20 Date: 11/30/2015
Perf: $1,142.24 Date: 10/31/2015
Perf: $1,138.83 Date: 9/30/2015
Perf: $1,050.19 Date: 8/31/2015
Perf: $1,076.79 Date: 7/31/2015
Perf: $1,145.88 Date: 6/30/2015
Perf: $1,122.32 Date: 5/31/2015
Perf: $1,144.52 Date: 4/30/2015
Perf: $1,129.94 Date: 3/31/2015
Perf: $1,119.20 Date: 2/28/2015
Perf: $1,137.17 Date: 1/31/2015
Perf: $1,075.33 Date: 12/31/2014
Perf: $1,108.59 Date: 11/30/2014
Perf: $1,111.37 Date: 10/31/2014
Perf: $1,082.26 Date: 9/30/2014
Perf: $1,056.48 Date: 8/31/2014
Perf: $1,071.48 Date: 7/31/2014
Perf: $1,030.27 Date: 6/30/2014
Perf: $1,044.69 Date: 5/31/2014
Perf: $1,023.50 Date: 4/30/2014
Perf: $1,000.00 Date: 10/31/2017
Perf: $905.97 Date: 9/30/2017
Perf: $909.34 Date: 8/31/2017
Perf: $908.34 Date: 7/31/2017
Perf: $901.84 Date: 6/30/2017
Perf: $909.58 Date: 5/31/2017
Perf: $917.65 Date: 4/30/2017
Perf: $913.45 Date: 3/31/2017
Perf: $918.22 Date: 2/28/2017
Perf: $912.20 Date: 1/31/2017
Perf: $922.35 Date: 12/31/2016
Perf: $911.05 Date: 11/30/2016
Perf: $925.77 Date: 10/31/2016
Perf: $937.59 Date: 9/30/2016
Perf: $919.92 Date: 8/31/2016
Perf: $925.20 Date: 7/31/2016
Perf: $914.77 Date: 6/30/2016
Perf: $911.58 Date: 5/31/2016
Perf: $926.12 Date: 4/30/2016
Perf: $919.13 Date: 3/31/2016
Perf: $913.38 Date: 2/29/2016
Perf: $908.65 Date: 1/31/2016
Perf: $878.86 Date: 12/31/2015
Perf: $899.73 Date: 11/30/2015
Perf: $900.72 Date: 10/31/2015
Perf: $908.81 Date: 9/30/2015
Perf: $871.76 Date: 8/31/2015
Perf: $849.67 Date: 7/31/2015
Perf: $824.76 Date: 6/30/2015
Perf: $794.65 Date: 5/31/2015
Perf: $804.87 Date: 4/30/2015
Perf: $818.87 Date: 3/31/2015
Perf: $811.73 Date: 2/28/2015
Perf: $818.69 Date: 1/31/2015
Perf: $798.25 Date: 12/31/2014
Perf: $797.45 Date: 11/30/2014
Perf: $833.55 Date: 10/31/2014
Perf: $873.28 Date: 9/30/2014
Perf: $945.21 Date: 8/31/2014
Perf: $967.96 Date: 7/31/2014
Perf: $977.34 Date: 6/30/2014
Perf: $1,005.81 Date: 5/31/2014
Perf: $1,001.10 Date: 4/30/2014
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 04/14 - 10/17
Date: 10/31/2017
Return: -0.37 % Date: 9/30/2017
Return: 0.11 % Date: 8/31/2017
Return: 0.72 % Date: 7/31/2017
Return: -0.85 % Date: 6/30/2017
Return: -0.88 % Date: 5/31/2017
Return: 0.46 % Date: 4/30/2017
Return: -0.52 % Date: 3/31/2017
Return: 0.66 % Date: 2/28/2017
Return: -1.10 % Date: 1/31/2017
Return: 1.24 % Date: 12/31/2016
Return: -1.59 % Date: 11/30/2016
Return: -1.26 % Date: 10/31/2016
Return: 1.92 % Date: 9/30/2016
Return: -0.57 % Date: 8/31/2016
Return: 1.14 % Date: 7/31/2016
Return: 0.35 % Date: 6/30/2016
Return: -1.57 % Date: 5/31/2016
Return: 0.76 % Date: 4/30/2016
Return: 0.63 % Date: 3/31/2016
Return: 0.52 % Date: 2/29/2016
Return: 3.39 % Date: 1/31/2016
Return: -2.32 % Date: 12/31/2015
Return: -0.11 % Date: 11/30/2015
Return: -0.89 % Date: 10/31/2015
Return: 4.25 % Date: 9/30/2015
Return: 2.60 % Date: 8/31/2015
Return: 3.02 % Date: 7/31/2015
Return: 3.79 % Date: 6/30/2015
Return: -1.27 % Date: 5/31/2015
Return: -1.71 % Date: 4/30/2015
Return: 0.88 % Date: 3/31/2015
Return: -0.85 % Date: 2/28/2015
Return: 2.56 % Date: 1/31/2015
Return: 0.10 % Date: 12/31/2014
Return: -4.33 % Date: 11/30/2014
Return: -4.55 % Date: 10/31/2014
Return: -7.61 % Date: 9/30/2014
Return: -2.35 % Date: 8/31/2014
Return: -0.96 % Date: 7/31/2014
Return: -2.83 % Date: 6/30/2014
Return: 0.47 % Date: 5/31/2014
Return: 0.11 % Date: 4/30/2014
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 04/14 - 10/17
Return: 2.00 %
Count: 1 Return: 4.00 %
Count: 2 Return: 1.00 %
Count: 8 Return: 3.00 %
Count: 4 Return: -4.00 %
Count: 1 Return: -5.00 %
Count: 1 Return: -8.00 %
Count: 1 Return: -2.00 %
Count: 5 Return: -1.00 %
Count: 10 Return: -3.00 %
Count: 1 Return: 0.00 %
Count: 9
Note: All performance data is since program inception.

Underwater Curve
Date Range: 04/14 - 10/17
Date: 10/31/2017
Drawdown: -9.93 % Date: 9/30/2017
Drawdown: -9.59 % Date: 8/31/2017
Drawdown: -9.69 % Date: 7/31/2017
Drawdown: -10.34 % Date: 6/30/2017
Drawdown: -9.57 % Date: 5/31/2017
Drawdown: -8.76 % Date: 4/30/2017
Drawdown: -9.18 % Date: 3/31/2017
Drawdown: -8.71 % Date: 2/28/2017
Drawdown: -9.31 % Date: 1/31/2017
Drawdown: -8.30 % Date: 12/31/2016
Drawdown: -9.42 % Date: 11/30/2016
Drawdown: -7.96 % Date: 10/31/2016
Drawdown: -6.78 % Date: 9/30/2016
Drawdown: -8.54 % Date: 8/31/2016
Drawdown: -8.01 % Date: 7/31/2016
Drawdown: -9.05 % Date: 6/30/2016
Drawdown: -9.37 % Date: 5/31/2016
Drawdown: -7.92 % Date: 4/30/2016
Drawdown: -8.62 % Date: 3/31/2016
Drawdown: -9.19 % Date: 2/29/2016
Drawdown: -9.66 % Date: 1/31/2016
Drawdown: -12.62 % Date: 12/31/2015
Drawdown: -10.55 % Date: 11/30/2015
Drawdown: -10.45 % Date: 10/31/2015
Drawdown: -9.64 % Date: 9/30/2015
Drawdown: -13.33 % Date: 8/31/2015
Drawdown: -15.52 % Date: 7/31/2015
Drawdown: -18.00 % Date: 6/30/2015
Drawdown: -20.99 % Date: 5/31/2015
Drawdown: -19.98 % Date: 4/30/2015
Drawdown: -18.59 % Date: 3/31/2015
Drawdown: -19.30 % Date: 2/28/2015
Drawdown: -18.60 % Date: 1/31/2015
Drawdown: -20.64 % Date: 12/31/2014
Drawdown: -20.71 % Date: 11/30/2014
Drawdown: -17.13 % Date: 10/31/2014
Drawdown: -13.18 % Date: 9/30/2014
Drawdown: -6.02 % Date: 8/31/2014
Drawdown: -3.76 % Date: 7/31/2014
Drawdown: -2.83 % Date: 6/30/2014
Drawdown: 0.00 % Date: 5/31/2014
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Valia Capital Management LLC
Address: 500 Birch St, West Tower, Suite 3000
City: Newport Beach
State: CA
Zip: 92660
Country: United States
Key People

Employee information is not available.
Additional Information

The Program Performance information presented in this and other areas of the www.managedfutures.com website was prepared by Altegris Clearing Solutions, LLC, an affiliate within the Altegris Group of Companies, based upon information provided by each respective manager of commodity futures and foreign currency trading programs tracked by Altegris Clearing Solutions and its affiliates. The Program Performance information does not contain opinion or analysis of Altegris Clearing Solutions or any of its affiliates, and the completeness and accuracy of performance information reported to Altegris Clearing Solutions cannot in all cases be independently verified. See “Additional Information” at the end of this page for further details regarding the presentation of performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.