San Francisco, CA / Santa Fe, NM — April 13, 2026
VICA Partners today announced the expanded release of the VICA Market Sentiment Index (VMSI™), a systematic framework for measuring capital allocation across financial markets.
Markets are not narratives.
They are systems with inertia determined by positioning.
— Matthew Krumholz, CEO, VICA Partners
Financial markets operate as systems in which capital is allocated across assets, sectors, and time horizons. These allocations do not adjust instantaneously, resulting in observable inertia in market behavior.
Market outcomes are therefore a function of both new information and the adjustment of existing capital.
Current market analysis is primarily focused on signal extraction, including price, volatility, and macroeconomic data. A consistent method for measuring capital allocation across these dimensions remains limited.
VMSI provides that measurement.
The index integrates volatility, liquidity, credit conditions, and cross-asset behavior into a structured representation of capital allocation and institutional risk posture. The framework is designed to be consistent and repeatable, enabling comparative analysis of market conditions over time.
By quantifying capital allocation across multiple dimensions, VMSI provides an objective reference for assessing market structure and identifying changes in risk distribution.
The index has been developed and refined over multiple years and is now being made broadly accessible. VMSI updates weekly and is publicly available.
Access the VMSI™
Full index, weekly updates, and methodology:
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About VICA Partners
VICA Partners is a research-focused firm specializing in capital allocation, market structure analysis, and systematic investment frameworks for institutional investors.
The firm develops quantitative models designed to measure how capital moves across markets and support decision-making for institutional and sophisticated investors.
VICA Partners is headquartered in San Francisco, with additional presence in Santa Fe, New Mexico; Salt Lake City, Utah; and Kamakura, Japan.
