Understanding quantitative risk

I'm trading a single strategy on a liquid international ETF and my live PnL curve is as follows (this is a plot of the account value measured hourly). High-level, the premise is cross-asset correlation. Live sharpe has been ~2.2. What techniques can I use to better understand the inconsistent signal performance?

https://preview.redd.it/sdb4duq33oae1.png?width=697&format=png&auto=webp&s=a646421781a0b1972f2fb0787caadbfa9d2e72c2