This strategy uses Hierarchical Cluster construction for assets with similar behaviour and allocates inter-cluster weights using Risk Parity so that each cluster contributes the same amount of risk to the overall portfolio.

The intra-cluster weight distribution is also constructed with Risk Parity. In the beginning of each quarter, the weights are rebalanced to assert possible regime changes, enforcing a strategy that minimizes tail risk and prioritizes robustness.

The asset universe is constituted by a diversified set of instruments, including commodities (metals, energy, and agricultural products), S&P 500 equities, and the eight cryptocurrencies with the biggest market capitalization.