> ## Documentation Index
> Fetch the complete documentation index at: https://docs.dionysus.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Price exposure (delta)

> You hold the assets. The market moves them.

You deposit a stable; the strategy converts it into volatile assets the moment it plants. From then on your vault's value moves with the market — this exposure is called **delta**, and it is usually the largest number on your dashboard, in either direction.

## What this means

* If ETH falls 30% while you're in an ETH pair, your vault feels most of that move. Harvest yield softens it; it does not cancel it.
* A great agent in a falling market still loses money. An idle wallet in a rising market still makes it. **Neither number tells you whether the strategy works.**

## How we keep this honest

Your dashboard always splits performance into two figures that sum to your net result:

* **Strategy delta** — rewards harvested minus the gas and swap costs of earning them. The agent's actual contribution.
* **Market delta** — what the price of your held assets did. Not the agent's doing, in either direction.

We will never present a market rally as skill. The same separation means we won't let a market crash hide whether the strategy itself was earning.

## What the agent does and doesn't do about delta

The agent manages *where* and *how* your assets provide liquidity — it does not hedge market direction, and it will not exit to stables because prices are falling. Your strategy choice **is** your market view: Bluechip holds majors through cycles; Volatile holds assets that can halve in a week. If you want out of the exposure, [exit](/vault/withdraw-and-exit) — it's always available.