Balyasny’s Antenna – transparent vendor backtests

We were recently profiled in a piece (gated, free with a trial) in Waters Technology about Balyasny Asset Management’s new tool Antenna.  Antenna is a backtesting tool which allows vendors and research providers like ExtractAlpha to upload signals, and to then view the results through the same interface as that used by BAM’s fund managers.

This new level of transparency is an evolutionary step along the same path which has seen multistrategy hedge funds centralize their procurement and, to some extent, their initial analysis of data sets.  We’re not sure how widely adopted this sort of approach will become but it’s a welcome development as it makes the evaluation process clearer and hopefully faster, something that’s sorely needed given how many data sets there are out there, and how difficult it is to find alpha in them.