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Portfolio Protection using Inverse ETF's
I have a portfolio of approximately 20 stocks and would like to purchase an inverse ETF to help mitigate any downside of the market. Is there an easy calculation on how many shares of say...the SQQQ inverse etf, that I should buy to try to keep me somewhat even, if market downside occurs? I was thinking the ATR and number of shares would be part of the calculation but not sure on how to approach.