Some strategies aren't about beating a benchmark but providing non-correlated market returns. By that I mean returns which don't go up or down based on the direction of the market.
A good example are catastrophe bonds and weather derivatives. Both are completely uncorrelated with the market, dependent more on weather forecasting, actuarial tables and region specific data.
A good example are catastrophe bonds and weather derivatives. Both are completely uncorrelated with the market, dependent more on weather forecasting, actuarial tables and region specific data.