---
title: Luxury Watches in Portfolios
url: https://www.ml-quant.com/papers/ssrn/5235200/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 5235200
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5235200
featured: 2025-04-30
citations: unknown
topic: Portfolio & Allocation
---


# Luxury Watches in Portfolios

Luxury watches from brands like Rolex, Patek Philippe, and Audemars Piguet provide significant diversification benefits to portfolios, outperforming stocks, bonds, and gold, with lower returns on Sundays.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5235200
- Identifier: SSRN 5235200
- Released: 2025-04-29
- First featured: Quant Letter No. 95 (2025-04-30): https://www.ml-quant.com/issues/2025-04-30/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Portfolio & Allocation

## Related

- [Ensembling Arimax Model in Algorithmic Investment Strategies on Commodities Market](https://www.ml-quant.com/papers/ssrn/4577441/): ARIMAX/ARIMAX-Garch models are ineffective for making buy or sell decisions for selected commodity baskets, as per a study on four Invesco ETF funds.
- [Investing in Commodities: A Presentation](https://www.ml-quant.com/papers/ssrn/5259018/): Hilary Till's presentation at a conference covered the case for commodities, portfolio construction, and risk management in an actively managed commodity program.
- [Commodity Futures Investment Process](https://www.ml-quant.com/papers/ssrn/5286928/): Hilary Till discusses the commodity investment universe, covering topics like investment focus, return rationale, portfolio construction, and risk management.
- [Cross Asset Climate Betas](https://www.ml-quant.com/papers/ssrn/5073529/): The research indicates that adding commodities to an equity-bond portfolio can enhance diversification during climate stress, but it also increases tracking error and reduces risk-adjusted performance.
- [Commodity Futures Selection](https://www.ml-quant.com/papers/repec/wly-jfutmk-v-45-y-2025-i-1-p-3-22/): The article finds that traditional sample covariance matrix performs better in portfolio selection than both naive allocation and advanced covariance estimators, challenging previous equity-focused studies.
- [RiskFree Zero-Beta Portfolios: UK and US](https://www.ml-quant.com/papers/ssrn/4949856/): UK and US: A study reveals that a risk-free portfolio, including gold, T-bills, silver, platinum, and palladium, doesn't always equate to a zero-beta portfolio, based on UK and US data.
