Glossary
Outlook
Volatility NIRD

What it is
A doughnut chart showing which NIRD regimes have a supportive volatility environment right now, based on the current volatility levels of each sector.
How to read it
Segments that are larger or highlighted indicate regimes that are experiencing historically supportive volatility levels. Very high volatility tends to align with Deflation or Inflation; low and stable volatility supports Nirvana or Reflation.
Why it matters
Volatility is a filter on regime credibility. A strong Nirvana signal accompanied by spiking volatility is contradictory — the Volatility NIRD card surfaces that conflict so you can weight your conviction accordingly.
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