Cross-Asset Quant Topics: Trend following on Factors, Case for Comm QIS, Crowding Metrics

Tom Salopek & Dobromir Tzotchev discuss trend-following performance given an environment of policy uncertainty. We look to our earlier work of applying trend-following on Equity factors and our new piece where we apply this idea broadly. In an environment where reacceleration can turn inflationary, Commodity QIS should become more important and the momentum signals for Commodity QIS are turning more favorable. In addition, we discuss metrics for assessing Crowding, applicable to trend-following in particular, and also to risk premia and public markets.

This podcast was recorded on 29 October 2025.

This communication is provided for information purposes only. Institutional clients can view the related reports at

https://www.jpmm.com/research/content/GPS-5111364-0

https://www.jpmm.com/research/content/GPS-5062689-0

https://www.jpmm.com/research/content/GPS-4435578-0

https://www.jpmm.com/research/content/GPS-4338222-0

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