Bensboro Advisors, LLC is a CTA offering the Bensboro Seasonal Spread Trading Program. Objective: To produce low-correlation returns using a seasonal approach to futures spread trading. Philosophy: We believe futures generally provide low correlation compared to other asset classes. Spreads generally provide even lower correlation to other asset classes, even when compared to most managed futures strategies, which typically are trend-following. Seasonality can significantly shape sentiment and short-term flows, thus influencing the market over the short-term. Diversification across many categories and instruments generally results in risk mitigation.