Demo · All algos, performance figures and trades are simulated to illustrate Lantern by Fintrens. Nothing here is investment advice.
FintrensLantern Demo
by Ridgeline Systems

Gold Carry MCX

Captures the roll yield between MCX GOLD contract months with a calendar spread, hedged against outright price moves.

IndiaNon-DirectionalCalendar Spread / CarryMCX · GOLD FuturesCommodityPositional (weeks)Moderate risk◻ White box
1Y return
+23.3%
CAGR
+19.9%
Max drawdown
-7.9%
Sharpe
1.25
Win rate
66.0%
Subscribers
13070 slots left

Overview

Backtested Oct 23 – Sep 26 on the maximum allocation of ₹4,00,000, against the NIFTY 50.

1M+0.25%
3M+2.31%
6M+19.01%
1Y+23.31%
Max+72.37%
Gold Carry MCX equity curve vs benchmark96119142165189StartMar 24Sep 24Mar 25Sep 25Mar 26Sep 26Gold Carry MCXNIFTY 50 (benchmark)
  • Gold Carry MCX
  • NIFTY 50 (benchmark)

Characteristics

Market
India
Brokers
Angel One or Zerodha
Trading hours
09:15–15:30 IST, Monday to Friday
Operates on
MCX
Built on
GOLD Futures
Segment
Commodity
Holding period
Positional (weeks)
Favourable in
Stable interest-rate regimes
Logic
White box

Performance

Returns on the maximum allocation, by period and by month.

Returns by period

PeriodProfitReturn
1 month₹1,000+0.25%
3 months₹9,226+2.31%
6 months₹76,031+19.01%
1 year₹93,258+23.31%
3 years₹2,89,494+72.37%
All time₹2,89,494+72.37%

Return profile

Cumulative return
+72.37%
CAGR
+19.90%
Avg. up month
+2.75%
Avg. down month
-2.00%

Monthly returns

-4%7%Oct 23: 2.49%Nov 23: 3.32%Dec 23: -3.85%Jan 24: 4.34%Feb 24: 1.99%Mar 24: 5.38%Apr 24: -3.79%May 24: -4.28%Jun 24: 1.26%Jul 24: 0.2%Aug 24: 0.33%Sep 24: 1.59%Oct 24: 2.55%Nov 24: 1.49%Dec 24: 0.16%Jan 25: 3.36%Feb 25: -0.58%Mar 25: 4.36%Apr 25: 0.59%May 25: 6.09%Jun 25: -0.78%Jul 25: 4.32%Aug 25: -0.96%Sep 25: 5.11%Oct 25: -0.04%Nov 25: 2.57%Dec 25: -2.54%Jan 26: 0.42%Feb 26: 0.47%Mar 26: 2.78%Apr 26: 6.03%May 26: 6.95%Jun 26: 2.58%Jul 26: -1.18%Aug 26: 3.27%Sep 26: 0.25%Oct 23Apr 24Oct 24Apr 25Oct 25Apr 26

Monthly returns distribution

  • -4.28% to -0.96%6 months
  • -0.78% to 0.25%6 months
  • 0.33% to 1.49%6 months
  • 1.59% to 2.58%6 months
  • 2.78% to 4.34%6 months
  • 4.36% to 6.95%6 months

Drawdowns

How deep and how long the strategy fell from its peaks, and how fast it recovered.

Max drawdown-7.91%May 24
Avg. drawdown-2.98%across all months under water
Longest drawdown300 daysMar 24 – Jan 25

Underwater plot

Gold Carry MCX underwater plot-8%-6%-4%-2%0%StartMar 24Sep 24Mar 25Sep 25Mar 26Sep 26Drawdown from peak

Worst 5 drawdowns

#DepthPeakTroughRecoveredLengthRecovery
1-7.91%Mar 24May 24Jan 25300 days240 days
2-3.85%Nov 23Dec 23Jan 2460 days30 days
3-2.54%Nov 25Dec 25Mar 26120 days90 days
4-1.18%Jun 26Jul 26Aug 2660 days30 days
5-0.96%Jul 25Aug 25Sep 2560 days30 days

Trade metrics

Trading behaviour, risk, consistency and efficiency in one place.

Trades

Frequency
0.5 trades/week
Success ratio
66.00%
Avg. profit per trade
+2.90%
Avg. loss per trade
-2.40%
Risk : reward
1.21
Stop-loss per trade
3.00%

Risk

Risk level
Moderate
Avg. drawdown
-2.98%
Max drawdown
-7.91%
Avg. time to recovery
84 days
Max time to recovery
240 days
Annualised volatility
9.81%

Consistency

Win days
53.70%
Win months
75.00%
Win quarters
83.33%
Max consecutive wins
9 trades
Max consecutive losses
3 trades
Max consecutive winning months
8

Efficiency

Sharpe
1.25
Sortino
2.38
Calmar
2.52
Alpha
0.10
Beta to NIFTY 50
0.19

Past trades

Daily profit and loss for any month since Oct 23. Pick a month, then a day to see its trades.

−₹11,850 (-2.96%)

Month to date (16 Oct 2026) on the maximum allocation of ₹4,00,000. Select a day to see its trades.

Mon
Tue
Wed
Thu
Fri
1
2
5
6
7
8
9
12
14
15
16
19
20
21
22
23
26
27
28
29
30
Trading days
1
Winning days
0
Best day
−₹11,850
Worst day
−₹11,850
Trades on

Tue 13 Oct 2026

−₹11,850
Trade 1−₹11,850
SideInstrumentQty × entryExitBuyGOLD26OCTFUT100 × 79000.0078911.25SellGOLD26DECFUT100 × 79608.0079637.75
opened 7 Oct → 10:42 · Stop-loss hit · SL 3%

About Gold Carry MCX

Gold Carry MCX trades the spread between the near and next GOLD futures contracts on MCX. When the spread deviates from its fair carry (interest and storage), the algo enters a calendar spread expecting convergence. Because it is long one month and short another, exposure to the gold price itself is small, which gives the strategy very low correlation to equity algos.

How it works

  1. Computes fair carry from the implied repo rate daily.
  2. Enters when the market spread deviates more than 1.5σ from fair carry.
  3. Holds until convergence or the 3% stop on spread value.
  4. Rolls positions ten days before near-month expiry.

White-box strategy: the provider discloses the rules above so you can judge the logic as well as the track record.

Risk notes

Spread strategies can be hurt by liquidity gaps in the far month and sudden changes in interest-rate expectations.

Combine with other algos

Correlation of monthly returns between Gold Carry MCX and other algos. Low or negative correlation means they tend not to draw down at the same time, which steadies a portfolio.

AlgoCorrelation1YMax DDCombined max DD (50/50)
Convex Credit Spread Overnight0.10+27.4%-43.1%-20.1%Combine
Delta-Rotation Credit Spread Expiry-0.09+27.0%-14.3%-7.5%Combine
Momentum Pulse Equity0.30+13.1%-16.7%-10.3%Combine
Mean Reversion NIFTY Intraday-0.16+50.9%-7.8%-2.5%Combine
Calm Harbour Iron Condor Weekly-0.02+9.1%-4.4%-3.0%Combine
Trend Rider BANKNIFTY Futures0.41+14.2%-27.5%-17.5%Combine
Dividend Rotator Equity0.30+2.5%-11.3%-7.3%Combine
Volatility Harvest Straddle-0.29+51.5%-17.3%-3.2%Combine
US Large-Cap Momentum0.23+19.7%-11.3%-5.3%Combine
QQQ Trend Switch-0.09+13.5%-8.4%-4.7%Combine
SPX Weekly Put Spread0.17+22.2%-8.8%-3.2%Combine
Bitcoin Trend 4H-0.11+54.9%-26.4%-12.1%Combine
ETH–BTC Rotation-0.02+51.5%-27.8%-12.9%Combine
Open combine tool

Frequently asked questions

Why add a commodity algo to an equity portfolio?

Its returns have near-zero correlation to NIFTY-based strategies, which lowers the combined drawdown when you combine algos on Lantern.

How do I subscribe to Gold Carry MCX?

Choose a plan on the pricing page, link your broker account, set your allocation (minimum ₹1,00,000) and the algo starts placing orders from the next session. You pay ₹699 per month plus 15% of net monthly profit above the high-water mark.

Explore similar algos

Convex Credit Spread Overnight

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Min capital
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1Y return
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Risk
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Delta-Rotation Credit Spread Expiry

Rotates short credit spreads across deltas on NIFTY expiry day, squaring off before close to avoid overnight exposure.

Min capital
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Momentum Pulse Equity

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Risk
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Mean Reversion NIFTY Intraday

Fades intraday extremes in NIFTY futures using VWAP bands and order-flow confirmation, flat by close every day.

Min capital
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1Y return
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Risk
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Important disclosure. Past performance, including back-tested returns, does not guarantee future results. Algorithmic trading strategies are exposed to market risk and can undergo periods of drawdown. Returns are subject to slippage, which depends on market conditions, the traded instrument and its liquidity. In accordance with exchange regulations, algorithmic strategies place LIMIT orders only, so execution is not guaranteed. Trades on the same instrument across multiple algos or manual orders may conflict. Performance figures and risk disclosures of listed algos are independently verified before listing. This demo uses simulated data.
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