diff --git a/alembic/versions/a1b2c3d4e5f6_initial_schema.py b/alembic/versions/a1b2c3d4e5f6_initial_schema.py
index 6a04b4c..e22ee0d 100644
--- a/alembic/versions/a1b2c3d4e5f6_initial_schema.py
+++ b/alembic/versions/a1b2c3d4e5f6_initial_schema.py
@@ -254,11 +254,17 @@ def upgrade() -> None:
         sa.Column("sharpe_ratio", sa.Float, nullable=True),
     )
 
-    # Convert timeseries tables to TimescaleDB hypertables.
-    # These calls are idempotent-safe when the extension is loaded.
-    op.execute("SELECT create_hypertable('market_data', 'timestamp', if_not_exists => TRUE)")
-    op.execute("SELECT create_hypertable('portfolio_snapshots', 'timestamp', if_not_exists => TRUE)")
-    op.execute("SELECT create_hypertable('strategy_metrics', 'timestamp', if_not_exists => TRUE)")
+    # Convert timeseries tables to TimescaleDB hypertables if the extension is available.
+    op.execute("""
+        DO $$
+        BEGIN
+            IF EXISTS (SELECT 1 FROM pg_extension WHERE extname = 'timescaledb') THEN
+                PERFORM create_hypertable('market_data', 'timestamp', if_not_exists => TRUE);
+                PERFORM create_hypertable('portfolio_snapshots', 'timestamp', if_not_exists => TRUE);
+                PERFORM create_hypertable('strategy_metrics', 'timestamp', if_not_exists => TRUE);
+            END IF;
+        END $$;
+    """)
 
 
 def downgrade() -> None: