Beta-Neutral Weight

What it does

Measures each coin's beta to Bitcoin from its daily returns over the last N closed days (or reads a beta column you wire) and splits the capital between the sides so the longs' market exposure equals the shorts': the side whose coins move more with the market gets less. It replaces the long/short pick's fixed long share; weights inside each side are left as they were.

What happens

Used only inside a Universe. It runs at the universe's refresh or pick instants over every allowed coin, using only data that had closed by then, and its wires carry coin sets, per-coin columns or selections rather than one value per bar.

When to use

When the coins you short move with the market more or less than the coins you hold long, so an equal split would still leave the book betting on direction.

Gotchas

• Only works after a long/short pick.
• Leave Beta unwired to measure it from daily data; wire it only with a real beta column, never the score.
• A coin listed for less than half the window has no beta yet and counts as its side's average.
• Neither side drops below the minimum share, so a noisy beta cannot hand almost all the capital to one side.