This Fund’s Lack Of Correlation With Other Hedge Funds Protected It In November

Carlson Capital's Double Black Diamond Fund declined 0.67% in November, bringing its year-to-date return to 10.11%. The fund's equity relative value, event-driven and strategic investments posted modest negative returns, while its long/ short equity and hedges partially offset them.

Q3 2021 hedge fund letters, conferences and more

Weakness In Popular Hedge Fund Stocks

The Double Black Diamond Fund saw its realized beta and correlation to the S&P 500 fall to 0.05 and 0.17, respectively, as of the end of November.

In his November letter to investors, which was obtained by ValueWalk, Clint Carlson said many of the most popular hedge fund positions sharply underperformed last month. However, that underperformance had...