needs to turn in a report describing and backtesting a trading strategy. Please feel free to choose any strategy in asset classes such as equity, fixed income, currency, derivatives. I also encourage you to consider trading strategies in cryptocurrency. Report Requirements: The report needs to have the following FOUR sections: 1)Introduction: e.g., where does the idea come from (new or based on existing research), what is the motivation/general idea/mechanism, a quick summary of your findings.Proper citations are needed (the bibliography should be included at the end of the report). 2)Data: description of the data source, data cleaning/filtering process, and sample period. 3)EmpiricalAnalysis: You will describe the trading rules (how you execute the strategy) in details; report the performance of your strategy (backtesting); and risk management methods (optional). Just to give you some ideas: a) For trading rules: how do you rebalance your portfolio, how frequently do you rebalance your portfolio, how do you weight each security and determine its position. b) For performance measurement: what are the relevant benchmarks/factor controls, significance of alphas, performance during different sub-samples, impact of transaction costs (one way to study it is to use different rebalance frequency), out-of-sample tests (if working on a market-timing strategy), impact of using different weights for securities in a portfolio. c) For risk management: historical drawdown; potential d