Is the market risk-on or risk-off right now?
Investors are turning cautious. Stress is building, and this is where market drops have often started. What does Mildly Off mean?
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As of November 9, 2026, the US market is Mildly Off, at 16.7 on a scale from 0 (most risk-off) to 100 (most risk-on). One reading per trading day, published after the 4:00 PM ET close (settled at 4:30 PM ET).
The daily US market regime indicator
Regime Card combines 8 cross-asset signals: credit markets, equity and bond volatility, currency dynamics, commodity flows, sector positioning, and rates.
Stocks ranked by Risk-Off returns →
How it differs from CNN's Fear & Greed Index →
8 cross-asset signals: the inputs
Common questions
Is the market risk-on or risk-off right now?
As of Nov 9, 2026, the US market is Mildly Off: the 17th percentile on Regime Card's scale from Risk-Off (0) to Risk-On (100). A new reading is published every US market day.
How does Regime Card measure market regime?
Regime Card synthesizes eight cross-asset signals into a single 0–100 percentile. The signals span credit, equity and bond volatility, currencies, commodities, sector positioning, and rates. That percentile places the US stock market in one of five regimes, from RISK-OFF to RISK-ON. It describes where cross-asset risk appetite sits for the latest completed session; it is a measure of current conditions, not a price forecast.
How often does Regime Card update?
Regime Card publishes one reading per trading day, after the 4:00 PM ET close (settled at 4:30 PM ET). Each reading describes that completed session and does not change during the day.
Is Regime Card financial advice?
No. Regime Card is an informational market indicator, not investment advice or a recommendation to buy or sell any security. It describes current cross-asset conditions rather than predicting them, and it does not account for your individual circumstances.
What do Risk-On and Risk-Off mean on Regime Card?
Risk-On means investors are taking risk freely and markets are calm. Risk-Off means investors are moving to safety and markets are under stress. Most days sit between the two, in Mildly On, Neutral or Mildly Off. Regime Card doesn't say what to buy or sell. It tells you what kind of market you're in.
Stocks by regime
Historical returns in each market regime, stock by stock.
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