VMSI™ Institutional Market Sentiment Index
Five Market Forces
Market conditions change before price responds.
VMSI™ integrates five forces that shape market direction, resilience, and risk.
Most investors analyze markets in parts. VMSI™ measures the system.
| Component | Current | Prior |
(w/w)
|
Interpretation |
|---|---|---|---|---|
| Composite |
64.3
|
62.1 |
+2.2
|
Participation broadened as volatility, credit, liquidity, and global transmission improved. |
| Momentum |
69.2
|
66.5 |
+2.7
|
Breadth improved, but capitalization and growth leadership remained dominant. |
| Liquidity |
59.0
|
57.5 |
+1.5
|
Liquidity improved modestly as reserves rose and Treasury cash pressure eased. |
| Volatility & Hedging |
62.1
|
59.1 |
+3
|
Hedging pressure eased as equity and rates volatility compressed together. |
| Safe Heaven Demand |
50.4
|
48.8 |
+1.6
|
Defensive demand increased, but did not signal broad risk aversion. |
Understanding VMSI™
VMSI™ integrates five market forces to measure the conditions shaping direction, resilience, and risk before they are fully reflected in price.
VMSI™ combines five core indicators with an Advanced Signal Layer to produce an integrated view of market regime. IC-VMSI™ extends the framework to institutional capital behavior, while ICMI™ independently measures where capital is migrating across markets.
VMSI™ is updated weekly using the most recently completed market data.
The Advanced Signal Layer measures structural forces beyond the VMSI™ Composite—including participation, convexity, capital readiness, geopolitical pressure, and regime persistence—by evaluating how these forces interact to distinguish temporary market movement from durable structural change
IC-VMSI™ measures how institutional capital is accumulating, deploying, and positioning across markets to identify where conviction is strengthening before it is fully reflected in price.