VOL. I · NO. 119 · standardpoorly.comTHU · MAY 28 · 2026FORWARD HORIZON · 1 d / 1 wk / 1 mo / 3 mo
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StandardmacroSP-4117

Mauna Loa CO2 (daily, ppm)

Daily atmospheric CO2 measured at Mauna Loa Observatory (Hawaii). The Keeling Curve slow-moving global industrial-activity gauge. Short-horizon correlations will be weak by construction (CO2 has a multi-year mean reversion); useful as a long-horizon backdrop indicator.

the verdict —
At the 126d horizon, this signal hits in the predicted direction 57% of fires. Mean SPY forward return when it lights: +1.98%. Status: OOS validated. n = 5701. Bullish on the underlying when fired.
What to watch when it fires
SPY

Current state

Latest value · 2026-05-23
432.6
vs ~6 weeks ago
0.2%
vs 60 days ago
0.7%
vs 7 days ago
0.2%
last 90 observations · 2026-01-19 2026-05-23

The series — full history

Daily readings, every reading we have. Pick a window with the time-period buttons; flip to candles via the global toggle in the masthead (or press C). Toggle the SPY overlay to see how this series and the S&P 500 have moved together.

Mauna Loa CO2 (daily, ppm)
432.6 +3.22 (+0.75%) over 1Y
Hover for date + value · Toggle SPY to compare relative move
434.4431.5428.6425.6422.7Jun 25Aug 25Dec 25Feb 26May 26
2025-06-11 → 2026-05-23 · 252 bars

What it has historically predicted

On days when this signal fires (deviates 2+ standard deviations from its 30-day average, in either direction), SPY has historically averaged +2.0% over the next six months, moving in the same direction as the signal 57% of the time.

51%
+0.01%
1 d
52%
+0.06%
1 wk
53%
+0.34%
1 mo
57%
+0.98%
3 mo
57%
+2.0%
6 mo
57%
+4.3%
1 yr

Beyond SPY — how this signal performs across markets

Same fire days, different forward returns. Each row asks: when this signal fires, what does that asset do? The big number is the average return; underneath is how often the asset moved the same direction as the signal (50% would be a coin flip).

target
1 d
1 wk
1 mo
3 mo
6 mo
1 yr
SPY
S&P 500 ETF
n=5,701
+0.01%
51% same direction
+0.06%
52% same direction
+0.34%
53% same direction
+0.98%
57% same direction
+2.0%
57% same direction
+4.3%
57% same direction
WTI
crude oil
n=5,455
-0.04%
51% same direction
+0.01%
49% same direction
+0.28%
48% same direction
-1.5%
43% same direction
-2.4%
42% same direction
-4.4%
39% same direction
Analyst · 6 moreGold · BTC · Copper · DXY · MOVE · VNQ see the full 8-target matrix with bootstrap confidence intervals.Join waitlist →

Each fire in history — when the signal popped, what SPY did next

Each bar is one historical fire — the indicator's value moved 2.5+ standard deviations from its rolling 180 trading-day mean (~9 months), or for monotonic “days since” indicators, crossed an 80th/90th/95th/99th percentile. Bar height = SPY's forward return at the selected horizon, signed by signal direction. Green above zero means the market moved with the signal; red below zero means it moved against.

horizon:
0 fires · 0% positive · avg +0.00%
−5.0%−2.5%0%+2.5%+5.0%
Each bar = one fire day (|z|≥2.5 from 180-day rolling baseline). Bar height = SPY return over the the next six months, signed by signal direction. Dashed line = average across fires.
Regime-tuned params · AutoResearch v13Analyst · preview
Regime matters
This indicator's strongest predictive edge sits in High VIX (stress): tuned σ = 2.5, window = 240d, horizon = 63d, hit-rate deviation from chance = 50.0pp.
RegimeσWindowHorizonHit dev
Low VIX (calm)2.7590d63d42.3pp
Normal VIX2.7590d63d27.4pp
High VIX (stress)2.50240d63d50.0pp

Hit-rate deviation = |hit% − 50%| at the row's tuned horizon. Big deviation = strong directional edge in that regime. Regimes split by daily VIX terciles (low / normal / high) over a 1-year rolling window. Analyst + Trader subscribers will be able to filter the home grid and the fire-history bar chart by regime.

shaded cell = each row's strongest horizon (green = bullish forward return, red = bearish)“same direction” means the asset moved the same way the signal moved — opposite of a coin flip.