Objective: Predictive model that measures the historical relationship between insider sentiment and the future probability of downside volatility (risk)

Insider Trading Activity: Purchase activity of an insider’s own stock filtered by proprietary parameters to scrub noisy data

Insight: Executive-level insider sentiment is an indicator of near-term financial market risk

-  Low executive sentiment suggests a high level of risk

-  High executive sentiment suggests a low level of risk

Scale: A ratio of current insider trading activity in relation to historical patterns

-  (0 to ∞) with a historical median measure of 1

-  Below 1 implies an above normal level of risk

-  Above 1 implies a below normal level of risk

Frequency: The measure is updated daily and has historically been subject swift and possibly extreme shifts

*This webpage is updated monthly and provides just a snapshot of the most recent month-end

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