Where each market sits right now.

A hidden Markov model, refit out of sample on every market below, sorts each day into three volatility states. This panel reports which one each market is in today, how long it has been there, and what that regime's measured volatility implies for position size. It reads risk, not direction.

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Each date is that market's last completed session, not today. The eleven markets close at different hours across four asset classes, so their dates differ by design, and after a weekend or a holiday they hold until the next session settles.