Methodology
Every number on this site comes from applying the formulas below to public price data, with no judgment added. Anyone with the same data gets the same result.
Indicator: distance from the 20-day average
distance = (close ÷ 20-day simple moving average − 1) × 100
A reading of 0% means the price equals its 20-day average. +5% means five percent above it, −5% five percent below. The formula is the same in every market.
State bands
The band is different for every asset. We take the standard deviation (σ) of the same 20 closes and use 2σ as the band, exactly as Bollinger Bands do. If prices were roughly normal, about 95% of the last 20 closes would fall inside it.
band = 2 × standard deviation of the 20 closes ÷ 20-day average × 100
| State | Rule |
|---|---|
| Hot | distance ≥ +band |
| Neutral | between −band and +band |
| Cold | distance ≤ −band |
Quiet assets get a narrow band, volatile ones a wide band, so the label means the same thing everywhere: unusually stretched for this asset. A stock that moves one percent a day can be hot at +3%; one that moves five percent a day can be neutral at +8%. The band is shown on every board.
Hot and cold are what technical analysis calls overbought and oversold: the close sits further from its average than is usual for this asset. Neither is a prediction about where the price goes next.
Moving-average alignment
The alignment field shows the order of the 20, 60 and 120-day averages: bullish (20 > 60 > 120), bearish (20 < 60 < 120) or mixed. It compares the three averages with each other only; the close is not part of it. It shows the direction over several months, for context, and plays no part in the state.
Asset selection rules
- The ten largest assets by market capitalization in each market, reviewed at the start of each month. Changes are listed at the bottom of this page.
- Equities: common shares only, one listing per company. United States: listed on US exchanges, ADRs excluded. Korea: KOSPI listings.
- Crypto: stablecoins and wrapped, bridged or staked versions of another asset are excluded.
Data and updates
- Daily closes only. No intraday data. The close is the regular-session closing price, adjusted for splits but not for dividends.
- Change is measured against the previous trading session's close; weekends and holidays are skipped.
- Equity boards update once a day after their market closes.
- Crypto trades around the clock, so the 00:00 UTC price is the day's close. That board updates once a day, seven days a week, and its as-of date is the UTC date.
What-if tables
The what-if figures on stock pages and market pages answer one question: if a fixed amount had been invested on the same date one, five, ten, fifteen or twenty years ago (or the next trading day) and held until now, what would it be worth? Dividends are treated as reinvested (adjusted closes), splits are adjusted, and taxes and fees are ignored. The per-year figure is a compound annual rate. Periods before listing are left blank.
These tables cover only today's ten largest assets, which are winners selected with hindsight. The numbers do not represent a typical investing experience, and past results say nothing about future ones.
Limitations
This indicator looks at past prices only. It knows nothing about earnings, news or the macro picture. An asset can stay hot for a long time, and a cold one can keep falling. And when a price holds a new level for several days, that move becomes part of the asset's usual range, the band widens, and hot can turn neutral with the price unchanged. The indicator measures whether a move is unusual for this asset, not how large it is.
Change log
- Sep 25, 2026 · US: Board launched: NVDA, MSFT, AAPL, AMZN, GOOGL, META, AVGO, TSLA, BRK-B, LLY.
- Sep 25, 2026 · Korea: Board launched: Samsung Electronics, SK hynix, LG Energy Solution, Samsung Biologics, Hyundai Motor, Hanwha Aerospace, Kia, Celltrion, KB Financial Group, HD Hyundai Heavy Industries.
- Sep 25, 2026 · Crypto: Board launched: BTC, ETH, XRP, BNB, SOL, DOGE, TRX, ADA, HYPE, LINK.