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What is the "Euphoriameter"?

The Euphoriameter combines 3 key gauges of investor sentiment:

-Surveyed Sentiment (Bulls) i.e. the bullish sentiment readings from investor surveys (or how optimistic investors say they are)

-Forward PE Ratio i.e. price vs next 12 month consensus earnings (basically a reflection of the relative degree of confidence in future earnings growth)

-The VIX i.e. implied volatility (whether conditions are in panic mode or complacency)

The composite view is designed to give an indication of the level of "euphoria" or otherwise in the market, and has given key insight into the market at turning points.

Last updated: 19 May 2024

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