A Combined is a strategy built from other strategies: it holds two or more of your strategies and splits capital across them instead of holding instruments directly. Each member keeps its own instruments, allocation, and rules, and the Combined adds one layer above them — the Combined level — that decides how much capital each member receives. It is what you build when one idea is not the whole book.
Also seen as: Combined strategy, multi-strategy portfolio
Earlier versions of Fincanva called a Combined a portfolio. That word now means something else entirely — a strategy you follow live, listed on the Portfolios page.
Why does a Combined need at least two strategies?
A Combined needs at least two member strategies because its whole job is to split capital between strategies, which one member cannot do — with only one it is an Incomplete Combined and cannot run.
How is a Combined different from a strategy?
A Combined holds strategies; a plain strategy holds instruments. Both are strategies in the app's vocabulary, which is why they share one editor, one backtest, and one run status model. Where both levels appear together the whole is always called the Combined, and destructive actions say which level they mean: "Remove this strategy from the Combined" removes one member, while "Delete Combined" deletes the whole thing.
Defaults in Fincanva
- Two or more members are required to run. A one-member Combined is a valid saved object, just not a runnable one.
- A strategy joins as a snapshot copy taken when it is added, so later edits to the standalone original leave the copy inside untouched — see strategy in a Combined.
- The Combined carries its own rebalance, allocation, and risk settings at the Combined level, separate from every member's own.
- Combineds are listed under Strategies in the Combined section; you create one from the "Build a combined strategy" screen with Combine.
- A Combined is backtested and can be followed live exactly like any other strategy.
Worked example
You have two strategies: a momentum strategy on US large caps and a defensive strategy on bond ETPs. You combine them into one Combined with 50,000 of starting capital and Equal Weights at the Combined level, so each member is handed 25,000. Inside the momentum strategy, its own allocation divides that 25,000 across the stocks it selected; inside the defensive strategy, its own allocation divides the other 25,000 across its ETPs. One backtest covers the whole thing, and the Combined's result is the two members' paths held side by side in one book.
Where this term is used
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Fincanva provides no financial advice. Backtests show what would have happened — not what will.
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