Quant score

The −100 to +100 number that summarizes how risk-on or risk-off the market is right now.

The quant score is one number, between −100 and +100, that summarizes how risk-on or risk-off the market is at a given moment. It updates every five minutes during the trading day.

It’s the spine of the Daily Recap, the Market Pulse sidebar, and the day’s arc bar.

How to read it

Score	Meaning
+50 to +100	Strong risk-on — equities up, vol low, credit tight, breadth wide
+20 to +50	Mild risk-on
−20 to +20	Neutral / mixed
−50 to −20	Mild risk-off
−100 to −50	Strong risk-off — equities down, vol up, credit widening, defensives bid

What goes into it

Eight buckets, weighted and combined:

• Equities — index returns, sector dispersion
• Volatility — VIX, MOVE, term structure, vol regime
• Credit — HY spreads (HYG vs SPY)
• Breadth — A/D, % above moving averages
• Yields — front-end vs long-end direction
• Gold — defensive haven flow
• Dollar — DXY direction
• Sector tilts — defensive vs cyclical leadership

No AI in the calculation — it’s a deterministic weighted average. AI is layered on top later for the written recap.

Why a bounded scale

A bounded scale means today’s score is directly comparable to last Tuesday’s, last quarter’s, last year’s. The percentile next to the score (e.g., “57th %ile”) tells you where today sits in the historical distribution.

Under the hood the score is computed on a −1 to +1 scale and shown ×100 as a clean integer (e.g. +42). Same number, friendlier display — it shares the −100..+100 convention with the sentiment score.