World markets
The value tape
Four indexes, read through the value scores their members carry. How far the cheapest fifth moved from the dearest fifth, how many members sit below the model’s fair-value estimate, and what each index scores once every member is weighted by its market cap.
No session recorded yet.
No tape yet
The tape has not been taken yet. It is written once per weeknight after the US close; the first session will appear here after that run. Nothing is missing from your side and there is nothing to retry.
What it will show, once there is a session to show it for, is described below.
Notes
The tape reads one session of a market index through the value score its members carry. It sorts the index’s scored members by that score, compares how the cheapest fifth moved against the dearest fifth, counts the members priced below the model’s fair-value estimate, and averages the five scores across the index weighted by market cap.
It is taken once per weeknight, after the US close, from each member’s last closing price. It is not live and it does not update while a market is open. Every figure on this page is stamped with the session it came from.
Cheapest and dearest fifths are quintiles of the value score, not of price: the fifth of members with the highest value scores and the fifth with the lowest. Below 25 scored members a fifth is fewer than five names and one of them would carry the whole reading, so the quintile split is withheld for that index and the panel says so instead of publishing it.
A bucket’s combined market cap is summed in the members’ own quote currency and labelled with it. The FTSE 100 quotes in pence, so its totals are not dollars and are not converted into any.
How the value score is calculated
Data, not advice. Do your own diligence.