Chart comparing Equity Market – S&P 500, Dynamic strategy – average protection level and Static strategy – protection level between 31/10/2018 and 31/10/2021. The figures at 3110/2021 show that a 25% fall in the Equity Market – S&P500 would need to occur to reach the Dynamic strategy – average protection level, and an 80% fall to reach the Static strategy – protection level.