Equity Indices — MESI & MNVI
Two composite equity indices providing cross-asset context for crypto positions. MESI measures equity market stress. MNVI measures Nasdaq volatility. Both are Layer 2 Oracle Information products — computed composites, cryptographically signed on every paid query.
Why Equity Indices?
Crypto doesn't trade in isolation. When equity markets are under stress (VIX spiking, credit spreads widening, yield curve inverting), crypto typically follows. MESI and MNVI give agents a signed, real-time read on the traditional finance environment without requiring direct access to equity market data feeds.
Both indices feed into the TradFi Regime oracle, which combines them with the yield curve to classify the macro environment as RISK_ON / NEUTRAL / STRESS / PANIC. They also serve as inputs to the Cross-Asset Divergence oracle.
MESI — Mycelia Equity Stress Index
Measures stress in traditional equity markets using five signals weighted into a 0–100 composite. Higher = more stress.
| Component | Weight | Source | Signal |
|---|---|---|---|
| VIX | 25% | CBOE | Equity implied volatility — normalized 0–100 |
| Credit Spreads | 25% | FRED (BofA HY) | High-yield spread over Treasuries — widening = stress |
| Yield Curve | 20% | FRED (T10Y2Y) | 10Y-2Y spread — inversion = stress |
| STLFSI4 | 15% | St. Louis Fed | Financial stress index — above zero = elevated stress |
| DXY Momentum | 15% | FRED | USD strength trend — rapid strengthening = risk-off stress |
MESI Regimes
| Range | Regime | Context |
|---|---|---|
| 0–25 | LOW | Calm equity markets — risk-on conditions |
| 25–50 | MODERATE | Some equity stress — monitor |
| 50–75 | HIGH | Elevated equity stress — crypto likely to face macro headwinds |
| 75–100 | EXTREME | Severe equity stress — high correlation to crypto drawdowns historically |
MESI Endpoint
| Endpoint | Description | Price | Cache | Preview |
|---|---|---|---|---|
/oracle/stress/equity | MESI — equity stress composite with full component breakdown | $0.05 | 300s | /preview ↗ |
MESI Response Format
{
"value": 36.2,
"regime": "MODERATE",
"components": {
"vix": { "value": 22.4, "weight": 0.25 },
"credit_spreads": { "value": 38.1, "weight": 0.25 },
"yield_curve": { "value": 41.0, "weight": 0.20 },
"stlfsi": { "value": 28.5, "weight": 0.15 },
"dxy": { "value": 31.7, "weight": 0.15 }
},
"data_date": "2026-06-13",
"signed": true,
"fetched_at": 1781100000
}MNVI — Mycelia NQ Volatility Index
Measures volatility in Nasdaq futures using five signals weighted into a 0–100 composite. Specifically tracks NQ (Nasdaq-100 futures) rather than the broader equity market. Higher = more volatile.
| Component | Weight | Source | Signal |
|---|---|---|---|
| Realized Volatility (RV) | 28% | NQ futures OHLCV | Parkinson estimator, 30D window |
| Implied Volatility (IV) | 28% | CBOE VXN | Nasdaq-100 implied vol |
| Term Structure (TS) | 17% | Derived | Short-term vs long-term vol ratio — backwardation = fear |
| Skew (SK) | 17% | Derived | Put/call skew — put premium = downside hedging = stress |
| Put/Call Ratio (PCR) | 10% | CBOE | NQ options PCR — high PCR = defensive positioning |
MNVI Regimes
| Range | Regime | Context |
|---|---|---|
| 0–25 | LOW | Calm Nasdaq vol — tech risk-on |
| 25–50 | MODERATE | Normal vol range |
| 50–75 | HIGH | Elevated NQ vol — growth concerns |
| 75–100 | EXTREME | Extreme NQ vol — historically correlates with crypto drawdowns |
MNVI Endpoint
| Endpoint | Description | Price | Cache | Preview |
|---|---|---|---|---|
/oracle/volatility/nq/usd | MNVI — NQ volatility composite with full component breakdown | $0.05 | 114s | /preview ↗ |
Preview Endpoints
Both indices offer free preview endpoints returning value, regime, and data_date — unsigned, up to 24h stale.
curl https://api.myceliasignal.com/oracle/stress/equity/preview curl https://api.myceliasignal.com/oracle/volatility/nq/usd/preview
Using MESI and MNVI Together
MESI captures broad financial stress (credit, rates, USD, systemic). MNVI captures equity volatility specifically in growth/tech (Nasdaq). Together they give a richer picture than either alone — MESI HIGH + MNVI HIGH signals broad risk-off with a tech-specific stress layer, which historically produces stronger crypto correlation than either signal alone.
The TradFi Regime oracle combines both with the yield curve into a single RISK_ON / NEUTRAL / STRESS / PANIC classification.