By Keel Research Team · Updated May 12, 2026
A 4-asset basket tracking decentralized GPU + inference tokens — VVV, RENDER, IO, TAO. Equal-weighted. The pre-built strategy delivered +69% YTD with Sharpe 2.10 on the live Keel backtest engine.
Window: Jan 1 — May 1, 2026 (YTD). Equal-weight, vol-targeted sizing. $10,000 start → $16,907 end.
Verified 2026-05-12 against the live Keel backtest engine on Hyperliquid price data. Past backtest performance is not indicative of future returns.
Bring this index live on Hyperliquid via Keel, or open the Index Builder to tweak weighting, add a short side, or change the asset list.
Opens the Keel strategy editor with the index pre-built. New users sign in first; the config persists through sign-up.
| Ticker | Category | YTD return | Target weight |
|---|---|---|---|
| VVV | — | +454.8% | 25.0% |
| RENDER | AI | +23.9% | 25.0% |
| TAO | L1 | +14.3% | 25.0% |
| IO | AI | -24.7% | 25.0% |
Concentration note: VVV (+455% YTD) drove the majority of the index return in equal-weight mode. To diversify, switch to inverse-vol weighting in the Index Builder.
The pipeline loads 15-minute price data for all four assets from the Hyperliquid market data feed, resamples to daily bars, emits a constant baseline forecast for each asset, then applies a forecast-weight normalizer to derive 1/N weights that sum to the target gross exposure.
Execution uses Keel’s buffered model — positions only adjust when the live weight has meaningfully drifted from target. This kept the AI Compute Index to 24 total trades over the 4-month backtest window vs the 480+ trades a naïve daily-rebalance would have produced. Tune the buffer or switch execution model in the Keel editor after deploy.
The Index Builder lets you customize any parameter — long basket, weighting, timeframe, leverage, and the short side — and opens the result in Keel as a real systematic strategy you can backtest, edit, and deploy.
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A 4-asset crypto index tracking decentralized compute and inference: Venice (VVV), Render (RENDER), io.net (IO), and Bittensor (TAO). The thesis is that AI demand creates a tailwind for tokens running GPU marketplaces, distributed inference networks, and model-training markets — picks-and-shovels exposure to AI growth without picking individual winners.
AI agent tokens (AI16Z, AIXBT, VIRTUAL, ZEREBRO) had a +57% 3-month run on momentum but a roughly flat YTD — high beta, narrative-dependent. The compute and infrastructure layer (VVV, RENDER, IO, TAO) is a more durable bet on actual AI demand: GPU rentals, decentralized inference, model coordination. The Agents narrative is on the roadmap as a separate index.
VVV is the largest contributor — it ran roughly +455% YTD. In equal-weight terms VVV drove the majority of the index return. If you believe that asymmetric upside has more room to run, equal weight is appropriate; if you want to constrain it, switch to inverse-volatility weighting in the Index Builder.
The generated Keel strategy uses buffered execution — positions only adjust when actual weights have meaningfully drifted from target. This keeps turnover low (24 trades over the 4-month backtest vs 480+ from naïve daily rebalancing). All execution parameters — buffer width, rebalance behavior, fees — are editable inside the Keel strategy editor.
Yes — click "Customize in Index Builder" below and you can edit the asset list, switch to inverse-vol weighting, change the timeframe, or add a short side (e.g., long AI Compute, short L2 majors for a sector-rotation thesis). The Builder also supports long-only L/S indexes and target-leverage tuning.
Keel is a Strategy OS for AI-assisted systematic trading on Hyperliquid. You can backtest, deploy, and monitor strategies — including indexes — directly on Hyperliquid perpetual futures via the Keel platform.
Build your own crypto index from any HL perp universe. Equal-weight or inverse-vol, long/short support.
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