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I was thinking there may be a strategy to choosing particular ETF/mutual funds - e.g. a growth, a bond, and a volatility index, which would all have negative correlations in their movements, the bonds being a 'safe harbour' in troubled market times, so there's hopefully always one moving upwards. And then add in leveraging for higher risk/reward.

Not clear if it's something along those lines or just pick any and back-test them to see if they may work.

I would think so as well ... I just don't know very much about ETFs/mutual funds (I have some, but mostly in a buy and hold to follow overall S&P over decades).