Is risk management ever alpha?

Risk management cannot predict when a drawdown will end to save you instantly. However, risk management ensures that when the market turns back in your favor, you still have enough capital to reap profits.If linked to the AlphaNova competition you are currently participating in:Your Predictor is responsible for finding the Return.The platform's cross-sectional de-meaning and overfitting tests are forms of Structural Risk Management imposed on you to suppress Variance.