VICA Institutional Market Sentiment Index
Understanding the relationships that drive markets.
Core Institutional Indicators
Markets move because conditions change.
VMSI™ measures five institutional market conditions before they become fully reflected in price.
Most investors analyze markets in parts. VMSI measures the system.
| Component | Current | Prior |
(w/w)
|
Interpretation |
|---|---|---|---|---|
| Composite |
65.7
|
65.2 |
+0.5
|
Lower equity volatility, tighter high-yield spreads, improved liquidity, and constructive global participation supported a modest increase. |
| Momentum |
70.1
|
69.7 |
+0.4
|
Large-cap momentum strengthened, while weaker small-cap and equal-weight participation limited the advance. |
| Liquidity |
63.1
|
62.7 |
+0.4
|
Credit conditions remained orderly and reserve liquidity improved, despite continued pressure on long-duration bonds. |
| Volatility & Hedging |
61.6
|
60.8 |
+0.8
|
Equity volatility declined while institutional portfolio hedging and tail-risk protection remained intact. |
| Safe Heaven |
47.7
|
48.2 |
-0.5
|
Gold and the dollar showed limited defensive demand, while stronger oil prices preserved some inflation and geopolitical risk premium. |
Understanding VMSI™
VMSI™ measures five institutional market conditions that shape market behavior before they become fully reflected in prices.
VMSI™ combines five institutional market indicators with an Advanced Signal Layer to measure institutional market conditions.
VMSI™ is published weekly using the most recently completed market data.
The Advanced Signal Layer measures the structural forces shaping institutional market conditions beyond the VMSI™ Composite.
IC-VMSI™ measures institutional capital deployment through ownership, allocation, and portfolio positioning.