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Oct 3, 2025

New Multi-Factor Portfolio: Spectra, Expanded 'Unconstrained' Universe

New multi-factor portfolio: Spectra, Quarta portfolio update, new tickers

Introducing Spectra, our new flagship multi-factor portfolio, historically delivering a Sharpe Ratio close to 3, now available for Prime customers. The portfolio incorporates the following factors:

  • Enhanced Momentum
  • Enhanced Carry
  • Retail Flow
  • Margin Risk
  • Altair
  • Mean Reversion We recommend transitioning from Quarta to Spectra, as it offers greater diversification.

Quarta Portfolio Update

Quarta, our four-factor portfolio, has been updated. When we introduced Relative Illiquidity, we noted it would eventually replace Open Interest Divergence in multi-factor portfolios. Since then, we have developed Margin Risk, which we consider a more robust factor, showing approximately 0.8 correlation with Relative Illiquidity. To align Quarta with our latest research, Open Interest Divergence has now been replaced with Margin Risk.

Expanded "Unconstrained" Universe

We have removed additional filters from the unconstrained universe. The following tickers are now available for the "unconstrained" model portfolios: CRO, HYPE, FTN, KAS, XMR, XDC. Previously, these were already accessible through the portfolio/factors endpoint.

New Tickers

Early next week, we will expand coverage further and implement a weekly schedule for adding new and emerging assets, increasing the supported universe to more than 400 tickers. Lastly, the default universe for the model portfolio has been set to Binance to ensure tradeable results are displayed by default. Please keep tuned for further updates in October!

The Unravel Team

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New Tickers, Deprecations and further product updates

Oct 20, 2025
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New factors, Additional Update at 00:15 UTC & the Unravel Python Package

Sep 19, 2025
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