Altegris Clearing Solutions Centurion Investment Management, LLC Diversified 2X (Composite)
Monthly Performance (%)
Date Range: 07/12 - 07/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 -4.76 -2.82 2.46 0.46 0.82 -0.86 -1.06 -5.79
2016 -1.39 1.46 0.10 1.70 -1.87 -1.09 -1.60 -1.77 -0.78 -0.61 1.64 -0.44 -4.64
2015 -0.25 -2.70 0.48 0.30 -1.00 -0.29 -1.42 0.90 -1.30 -0.33 0.94 -0.78 -5.38
2014 2.52 -1.29 1.71 1.41 -1.22 0.31 0.43 0.65 1.75 1.58 2.10 -0.49 9.78
2013 -0.65 -2.45 0.78 3.30 1.09 3.72 -7.61 5.14 0.29 0.77 1.68 3.44 9.23
2012 1.59 -0.51 2.05 3.25 2.02 8.65
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

Short-term systematic trading of 58 liquid global financial and commodity markets. Trades are held on average 6 hours and holding periods range from intraday to 2 days. Portfolio consists of 100 independent momentum and mean-reversion trading strategies which are dynamically weighted based on volatility, correlation and performance.

Performance Statistics
Date Range: 07/12 - 07/17
  Program SP500 TR Altegris 40
Total Return 10.76% 102.11% 3.58%
Annualized Return 2.06% 14.85% 0.69%
Annualized Std. Deviation 7.11% 9.41% 8.58%
Correlation -0.27 -0.06
Sharpe Ratio (rf=2.5%) -0.06 1.31 -0.21
Worst Month -7.61% -6.03% -5.20%
Date of Worst Month 07/2013 08/2015 06/2015
Worst Drawdown -16.90% -8.35% -12.77%
Date of Worst Drawdown 11/14 - 2/17 7/15 - 9/15 3/15 - 6/17
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 07/12 - 07/17
Year or YTD Program SP500 TR Altegris 40
2017 -5.79 11.60 -3.53
2016 -4.64 11.98 -3.13
2015 -5.38 1.41 0.09
2014 9.78 13.69 15.75
2013 9.23 32.41 -2.45
2012 8.65 4.49 -5.78
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 07/12 - 07/17
Date: 7/31/2017
Perf: $995.07 Date: 6/30/2017
Perf: $991.21 Date: 5/31/2017
Perf: $1,021.02 Date: 4/30/2017
Perf: $1,019.09 Date: 3/31/2017
Perf: $1,025.24 Date: 2/28/2017
Perf: $1,040.43 Date: 1/31/2017
Perf: $1,018.23 Date: 12/31/2016
Perf: $1,031.54 Date: 11/30/2016
Perf: $1,023.76 Date: 10/31/2016
Perf: $1,035.14 Date: 9/30/2016
Perf: $1,062.56 Date: 8/31/2016
Perf: $1,076.44 Date: 7/31/2016
Perf: $1,106.20 Date: 6/30/2016
Perf: $1,095.03 Date: 5/31/2016
Perf: $1,050.39 Date: 4/30/2016
Perf: $1,069.10 Date: 3/31/2016
Perf: $1,096.62 Date: 2/29/2016
Perf: $1,129.03 Date: 1/31/2016
Perf: $1,101.92 Date: 12/31/2015
Perf: $1,064.86 Date: 11/30/2015
Perf: $1,089.93 Date: 10/31/2015
Perf: $1,053.99 Date: 9/30/2015
Perf: $1,072.65 Date: 8/31/2015
Perf: $1,049.87 Date: 7/31/2015
Perf: $1,068.35 Date: 6/30/2015
Perf: $1,028.15 Date: 5/31/2015
Perf: $1,084.55 Date: 4/30/2015
Perf: $1,092.41 Date: 3/31/2015
Perf: $1,136.27 Date: 2/28/2015
Perf: $1,111.71 Date: 1/31/2015
Perf: $1,113.49 Date: 12/31/2014
Perf: $1,063.91 Date: 11/30/2014
Perf: $1,045.51 Date: 10/31/2014
Perf: $986.79 Date: 9/30/2014
Perf: $972.50 Date: 8/31/2014
Perf: $958.22 Date: 7/31/2014
Perf: $919.33 Date: 6/30/2014
Perf: $926.75 Date: 5/31/2014
Perf: $918.85 Date: 4/30/2014
Perf: $895.91 Date: 3/31/2014
Perf: $889.15 Date: 2/28/2014
Perf: $902.51 Date: 1/31/2014
Perf: $895.17 Date: 12/31/2013
Perf: $919.16 Date: 11/30/2013
Perf: $920.45 Date: 10/31/2013
Perf: $904.08 Date: 9/30/2013
Perf: $883.84 Date: 8/31/2013
Perf: $889.18 Date: 7/31/2013
Perf: $906.59 Date: 6/30/2013
Perf: $914.54 Date: 5/31/2013
Perf: $950.57 Date: 4/30/2013
Perf: $993.28 Date: 3/31/2013
Perf: $968.30 Date: 2/28/2013
Perf: $954.55 Date: 1/31/2013
Perf: $960.12 Date: 12/31/2012
Perf: $942.22 Date: 11/30/2012
Perf: $937.62 Date: 10/31/2012
Perf: $935.01 Date: 9/30/2012
Perf: $970.12 Date: 8/31/2012
Perf: $986.40 Date: 7/31/2012
Perf: $1,000.00 Date: 7/31/2017
Perf: $1,993.37 Date: 6/30/2017
Perf: $1,953.13 Date: 5/31/2017
Perf: $1,941.10 Date: 4/30/2017
Perf: $1,914.11 Date: 3/31/2017
Perf: $1,894.60 Date: 2/28/2017
Perf: $1,892.33 Date: 1/31/2017
Perf: $1,820.07 Date: 12/31/2016
Perf: $1,786.13 Date: 11/30/2016
Perf: $1,751.45 Date: 10/31/2016
Perf: $1,688.96 Date: 9/30/2016
Perf: $1,720.27 Date: 8/31/2016
Perf: $1,719.93 Date: 7/31/2016
Perf: $1,717.52 Date: 6/30/2016
Perf: $1,656.40 Date: 5/31/2016
Perf: $1,652.11 Date: 4/30/2016
Perf: $1,622.89 Date: 3/31/2016
Perf: $1,616.59 Date: 2/29/2016
Perf: $1,513.94 Date: 1/31/2016
Perf: $1,515.91 Date: 12/31/2015
Perf: $1,595.03 Date: 11/30/2015
Perf: $1,620.63 Date: 10/31/2015
Perf: $1,615.79 Date: 9/30/2015
Perf: $1,490.03 Date: 8/31/2015
Perf: $1,527.76 Date: 7/31/2015
Perf: $1,625.80 Date: 6/30/2015
Perf: $1,592.36 Date: 5/31/2015
Perf: $1,623.86 Date: 4/30/2015
Perf: $1,603.18 Date: 3/31/2015
Perf: $1,587.94 Date: 2/28/2015
Perf: $1,613.43 Date: 1/31/2015
Perf: $1,525.70 Date: 12/31/2014
Perf: $1,572.89 Date: 11/30/2014
Perf: $1,576.83 Date: 10/31/2014
Perf: $1,535.53 Date: 9/30/2014
Perf: $1,498.95 Date: 8/31/2014
Perf: $1,520.23 Date: 7/31/2014
Perf: $1,461.76 Date: 6/30/2014
Perf: $1,482.22 Date: 5/31/2014
Perf: $1,452.16 Date: 4/30/2014
Perf: $1,418.82 Date: 3/31/2014
Perf: $1,408.39 Date: 2/28/2014
Perf: $1,396.66 Date: 1/31/2014
Perf: $1,335.62 Date: 12/31/2013
Perf: $1,383.49 Date: 11/30/2013
Perf: $1,349.35 Date: 10/31/2013
Perf: $1,309.42 Date: 9/30/2013
Perf: $1,251.83 Date: 8/31/2013
Perf: $1,213.72 Date: 7/31/2013
Perf: $1,249.97 Date: 6/30/2013
Perf: $1,189.43 Date: 5/31/2013
Perf: $1,205.58 Date: 4/30/2013
Perf: $1,178.02 Date: 3/31/2013
Perf: $1,155.71 Date: 2/28/2013
Perf: $1,113.94 Date: 1/31/2013
Perf: $1,098.99 Date: 12/31/2012
Perf: $1,044.87 Date: 11/30/2012
Perf: $1,035.45 Date: 10/31/2012
Perf: $1,029.48 Date: 9/30/2012
Perf: $1,048.88 Date: 8/31/2012
Perf: $1,022.50 Date: 7/31/2012
Perf: $1,000.00 Date: 7/31/2017
Perf: $1,107.55 Date: 6/30/2017
Perf: $1,119.42 Date: 5/31/2017
Perf: $1,129.13 Date: 4/30/2017
Perf: $1,119.94 Date: 3/31/2017
Perf: $1,114.82 Date: 2/28/2017
Perf: $1,088.05 Date: 1/31/2017
Perf: $1,119.62 Date: 12/31/2016
Perf: $1,175.58 Date: 11/30/2016
Perf: $1,180.78 Date: 10/31/2016
Perf: $1,161.72 Date: 9/30/2016
Perf: $1,168.85 Date: 8/31/2016
Perf: $1,178.04 Date: 7/31/2016
Perf: $1,199.27 Date: 6/30/2016
Perf: $1,218.77 Date: 5/31/2016
Perf: $1,232.20 Date: 4/30/2016
Perf: $1,255.68 Date: 3/31/2016
Perf: $1,234.69 Date: 2/29/2016
Perf: $1,233.46 Date: 1/31/2016
Perf: $1,215.71 Date: 12/31/2015
Perf: $1,232.85 Date: 11/30/2015
Perf: $1,242.54 Date: 10/31/2015
Perf: $1,230.97 Date: 9/30/2015
Perf: $1,235.04 Date: 8/31/2015
Perf: $1,251.31 Date: 7/31/2015
Perf: $1,240.15 Date: 6/30/2015
Perf: $1,258.01 Date: 5/31/2015
Perf: $1,261.67 Date: 4/30/2015
Perf: $1,274.42 Date: 3/31/2015
Perf: $1,270.60 Date: 2/28/2015
Perf: $1,264.53 Date: 1/31/2015
Perf: $1,299.62 Date: 12/31/2014
Perf: $1,302.88 Date: 11/30/2014
Perf: $1,309.30 Date: 10/31/2014
Perf: $1,282.37 Date: 9/30/2014
Perf: $1,262.42 Date: 8/31/2014
Perf: $1,240.71 Date: 7/31/2014
Perf: $1,232.70 Date: 6/30/2014
Perf: $1,227.42 Date: 5/31/2014
Perf: $1,223.63 Date: 4/30/2014
Perf: $1,238.74 Date: 3/31/2014
Perf: $1,221.51 Date: 2/28/2014
Perf: $1,200.98 Date: 1/31/2014
Perf: $1,216.67 Date: 12/31/2013
Perf: $1,186.77 Date: 11/30/2013
Perf: $1,147.30 Date: 10/31/2013
Perf: $1,128.34 Date: 9/30/2013
Perf: $1,119.72 Date: 8/31/2013
Perf: $1,116.48 Date: 7/31/2013
Perf: $1,061.90 Date: 6/30/2013
Perf: $1,149.37 Date: 5/31/2013
Perf: $1,108.15 Date: 4/30/2013
Perf: $1,096.20 Date: 3/31/2013
Perf: $1,061.18 Date: 2/28/2013
Perf: $1,052.97 Date: 1/31/2013
Perf: $1,079.41 Date: 12/31/2012
Perf: $1,086.47 Date: 11/30/2012
Perf: $1,064.96 Date: 10/31/2012
Perf: $1,031.44 Date: 9/30/2012
Perf: $1,010.72 Date: 8/31/2012
Perf: $1,015.90 Date: 7/31/2012
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 07/12 - 07/17
Date: 7/31/2017
Return: -1.06 % Date: 6/30/2017
Return: -0.86 % Date: 5/31/2017
Return: 0.82 % Date: 4/30/2017
Return: 0.46 % Date: 3/31/2017
Return: 2.46 % Date: 2/28/2017
Return: -2.82 % Date: 1/31/2017
Return: -4.76 % Date: 12/31/2016
Return: -0.44 % Date: 11/30/2016
Return: 1.64 % Date: 10/31/2016
Return: -0.61 % Date: 9/30/2016
Return: -0.78 % Date: 8/31/2016
Return: -1.77 % Date: 7/31/2016
Return: -1.60 % Date: 6/30/2016
Return: -1.09 % Date: 5/31/2016
Return: -1.87 % Date: 4/30/2016
Return: 1.70 % Date: 3/31/2016
Return: 0.10 % Date: 2/29/2016
Return: 1.46 % Date: 1/31/2016
Return: -1.39 % Date: 12/31/2015
Return: -0.78 % Date: 11/30/2015
Return: 0.94 % Date: 10/31/2015
Return: -0.33 % Date: 9/30/2015
Return: -1.30 % Date: 8/31/2015
Return: 0.90 % Date: 7/31/2015
Return: -1.42 % Date: 6/30/2015
Return: -0.29 % Date: 5/31/2015
Return: -1.00 % Date: 4/30/2015
Return: 0.30 % Date: 3/31/2015
Return: 0.48 % Date: 2/28/2015
Return: -2.70 % Date: 1/31/2015
Return: -0.25 % Date: 12/31/2014
Return: -0.49 % Date: 11/30/2014
Return: 2.10 % Date: 10/31/2014
Return: 1.58 % Date: 9/30/2014
Return: 1.75 % Date: 8/31/2014
Return: 0.65 % Date: 7/31/2014
Return: 0.43 % Date: 6/30/2014
Return: 0.31 % Date: 5/31/2014
Return: -1.22 % Date: 4/30/2014
Return: 1.41 % Date: 3/31/2014
Return: 1.71 % Date: 2/28/2014
Return: -1.29 % Date: 1/31/2014
Return: 2.52 % Date: 12/31/2013
Return: 3.44 % Date: 11/30/2013
Return: 1.68 % Date: 10/31/2013
Return: 0.77 % Date: 9/30/2013
Return: 0.29 % Date: 8/31/2013
Return: 5.14 % Date: 7/31/2013
Return: -7.61 % Date: 6/30/2013
Return: 3.72 % Date: 5/31/2013
Return: 1.09 % Date: 4/30/2013
Return: 3.30 % Date: 3/31/2013
Return: 0.78 % Date: 2/28/2013
Return: -2.45 % Date: 1/31/2013
Return: -0.65 % Date: 12/31/2012
Return: 2.02 % Date: 11/30/2012
Return: 3.25 % Date: 10/31/2012
Return: 2.05 % Date: 9/30/2012
Return: -0.51 % Date: 8/31/2012
Return: 1.59 % Date: 7/31/2012
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 07/12 - 07/17
Return: -5.00 %
Count: 1 Return: -3.00 %
Count: 2 Return: 5.00 %
Count: 1 Return: -8.00 %
Count: 1 Return: 4.00 %
Count: 1 Return: 1.00 %
Count: 9 Return: -2.00 %
Count: 4 Return: 3.00 %
Count: 4 Return: -1.00 %
Count: 14 Return: 2.00 %
Count: 11 Return: 0.00 %
Count: 13
Note: All performance data is since program inception.

Underwater Curve
Date Range: 07/12 - 07/17
Date: 7/31/2017
Drawdown: -15.41 % Date: 6/30/2017
Drawdown: -14.50 % Date: 5/31/2017
Drawdown: -13.76 % Date: 4/30/2017
Drawdown: -14.46 % Date: 3/31/2017
Drawdown: -14.85 % Date: 2/28/2017
Drawdown: -16.90 % Date: 1/31/2017
Drawdown: -14.49 % Date: 12/31/2016
Drawdown: -10.21 % Date: 11/30/2016
Drawdown: -9.82 % Date: 10/31/2016
Drawdown: -11.27 % Date: 9/30/2016
Drawdown: -10.73 % Date: 8/31/2016
Drawdown: -10.02 % Date: 7/31/2016
Drawdown: -8.40 % Date: 6/30/2016
Drawdown: -6.91 % Date: 5/31/2016
Drawdown: -5.89 % Date: 4/30/2016
Drawdown: -4.09 % Date: 3/31/2016
Drawdown: -5.70 % Date: 2/29/2016
Drawdown: -5.79 % Date: 1/31/2016
Drawdown: -7.15 % Date: 12/31/2015
Drawdown: -5.84 % Date: 11/30/2015
Drawdown: -5.10 % Date: 10/31/2015
Drawdown: -5.98 % Date: 9/30/2015
Drawdown: -5.67 % Date: 8/31/2015
Drawdown: -4.43 % Date: 7/31/2015
Drawdown: -5.28 % Date: 6/30/2015
Drawdown: -3.92 % Date: 5/31/2015
Drawdown: -3.64 % Date: 4/30/2015
Drawdown: -2.66 % Date: 3/31/2015
Drawdown: -2.96 % Date: 2/28/2015
Drawdown: -3.42 % Date: 1/31/2015
Drawdown: -0.74 % Date: 12/31/2014
Drawdown: -0.49 % Date: 11/30/2014
Drawdown: 0.00 % Date: 10/31/2014
Drawdown: 0.00 % Date: 9/30/2014
Drawdown: 0.00 % Date: 8/31/2014
Drawdown: 0.00 % Date: 7/31/2014
Drawdown: -0.49 % Date: 6/30/2014
Drawdown: -0.91 % Date: 5/31/2014
Drawdown: -1.22 % Date: 4/30/2014
Drawdown: 0.00 % Date: 3/31/2014
Drawdown: 0.00 % Date: 2/28/2014
Drawdown: -1.29 % Date: 1/31/2014
Drawdown: 0.00 % Date: 12/31/2013
Drawdown: 0.00 % Date: 11/30/2013
Drawdown: -0.18 % Date: 10/31/2013
Drawdown: -1.83 % Date: 9/30/2013
Drawdown: -2.58 % Date: 8/31/2013
Drawdown: -2.86 % Date: 7/31/2013
Drawdown: -7.61 % Date: 6/30/2013
Drawdown: 0.00 % Date: 5/31/2013
Drawdown: 0.00 % Date: 4/30/2013
Drawdown: 0.00 % Date: 3/31/2013
Drawdown: -2.33 % Date: 2/28/2013
Drawdown: -3.08 % Date: 1/31/2013
Drawdown: -0.65 % Date: 12/31/2012
Drawdown: 0.00 % Date: 11/30/2012
Drawdown: 0.00 % Date: 10/31/2012
Drawdown: 0.00 % Date: 9/30/2012
Drawdown: -0.51 % Date: 8/31/2012
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Centurion Investment Management, LLC
Address: 7 Times Square, 37th Fl
City: New York
State: NY
Zip: 10036
Country: USA
Key People
Name:  Umran A. Zia
Position:  Chief Executive Officer
Biography: 

Mr. Zia was the Global Head of FX Prime Brokerage (FXPB) at Bank of America Merrill Lynch (BAML) and served as a Member of Bank of America's FX Operating and Executive Committees. In 2009, FXPB at BAML cleared over $6 trillion in spot, forward and options.


Name:  Stefan M. Behling
Position:  Chief Investment Officer
Biography: 

Mr. Behling was former Head of Trading at Crabel Capital Management (CCM) where he was a member of the firm’s Executive, Operating and Research Committees. CCM is a short-term systematic hedge fund which trades futures and foreign exchange markets, including domestic and international equities.


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.