Sentiment & Positioningdaily
Convex Risk Appetite Index
Convex Risk Appetite Index, cross-asset risk appetite from 5 ETF price ratio z-scores (IWM/SPY, HYG/LQD, XLY/XLP, EEM/EFA, KRE/SPY). 0-100 scale.
The Convex Risk Appetite Index is currently 52, last updated . Neutral appetite (52/100), balanced risk-taking, no strong directional bias
52
1W -18.75%1M -28.77%3M -28.77%
Updated 4h agoStatistical forecast 2026
Model-based central estimate, 68% and 95% confidence bands for Convex Risk Appetite Index, blended across current macro regimes.
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Positioning data reveals what the market is actually doing, as opposed to what it says it is doing. FINRA margin debt peaked ahead of every major bear market cycle of the last 40 years, while extreme readings in the AAII bull-bear spread are classic contrarian signals. CFTC commitments of traders separates speculative from commercial flow, identifying when large specs are overextended in either direction.
Updated 4h ago
Latest analysis · Convex Risk Appetite Index
Credit · Apr 27, 2026
Hormuz Closure Threat Meets Mag-7 Earnings: Credit Is the Canary
Futures slide into thin liquidity while HY spreads sit near cycle tights, that gap is the story.
Equity · Apr 13, 2026
Three Signals, One Direction: Risk Appetite Is Repricing Fast
Goldman, BlackRock, and Brussels all moved in the same 6-hour window, the crowded short is running out of time.
Current Reading
Neutral appetite (52/100), balanced risk-taking, no strong directional bias
Recent Data
Download CSV| Date | Value | Change |
|---|---|---|
| May 18, 2026 | 52 | +0.00% |
| May 17, 2026 | 52 | +0.00% |
| May 16, 2026 | 52 | -7.14% |
| May 15, 2026 | 56 | +0.00% |
| May 14, 2026 | 56 | -6.67% |
| May 13, 2026 | 60 | +1.69% |
| May 12, 2026 | 59 | -7.81% |
| May 11, 2026 | 64 | +0.00% |
| May 10, 2026 | 64 | +0.00% |
| May 9, 2026 | 64 | +1.59% |
| May 8, 2026 | 63 | -7.35% |
| May 7, 2026 | 68 | -4.23% |
| May 6, 2026 | 71 | -2.74% |
| May 5, 2026 | 73 | -1.35% |
| May 4, 2026 | 74 | -1.33% |
| May 3, 2026 | 75 | +0.00% |
| May 2, 2026 | 75 | +0.00% |
| May 1, 2026 | 75 | +4.17% |
| Apr 30, 2026 | 72 | +0.00% |
| Apr 29, 2026 | 72 | -5.26% |
| Apr 28, 2026 | 76 | -2.56% |
| Apr 27, 2026 | 78 | +6.85% |
| Apr 26, 2026 | 73 | +0.00% |
| Apr 25, 2026 | 73 | — |
Related Analysis
Credit · Apr 27, 2026
Hormuz Closure Threat Meets Mag-7 Earnings: Credit Is the Canary
Futures slide into thin liquidity while HY spreads sit near cycle tights, that gap is the story.
Equity · Apr 13, 2026
Three Signals, One Direction: Risk Appetite Is Repricing Fast
Goldman, BlackRock, and Brussels all moved in the same 6-hour window, the crowded short is running out of time.
Macro · Apr 7, 2026
Risk-On Signals in a Stagflation Fog: What Three Outlier Flows Reveal
Bitcoin ETF inflows, a €9.4B media mega-deal, and a SpaceX IPO signal speculative appetite that clashes with our macro regime.
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Frequently Asked Questions
▶What is Convex Risk Appetite Index?
Convex Risk Appetite Index, cross-asset risk appetite from 5 ETF price ratio z-scores (IWM/SPY, HYG/LQD, XLY/XLP, EEM/EFA, KRE/SPY). 0-100 scale.
▶How does Convex Risk Appetite Index relate to sentiment & positioning?
Convex Risk Appetite Index is part of the Sentiment & Positioning category. Positioning data reveals what the market is actually doing, as opposed to what it says it is doing. FINRA margin debt peaked ahead of every major bear market cycle of the last 40 years, while extreme readings in the AAII bull-bear spread are classic contrarian signals. CFTC commitments of traders separates speculative from commercial flow, identifying when large specs are overextended in either direction.
▶How often is Convex Risk Appetite Index updated?
Convex Risk Appetite Index is updated once per day after market close. Each metric page on Convex shows the exact time of the last data update and provides historical data going back up to five years.
▶Where does Convex source Convex Risk Appetite Index data?
Convex sources Convex Risk Appetite Index data from the Federal Reserve Economic Data (FRED) API, maintained by the Federal Reserve Bank of St. Louis. Data is fetched automatically and displayed alongside interactive charts, AI analysis, and historical context.
▶What can I do on the Convex Risk Appetite Index chart page?
The Convex Risk Appetite Index page includes an interactive chart with selectable time ranges (1 month to 5 years), percentage changes over multiple timeframes, a table of recent readings, AI-generated analysis, and links to related metrics and comparisons.
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Data sourced from FRED, CoinGecko, CBOE, CFTC, and EIA. Updated daily. This page is for informational purposes only and does not constitute financial advice.