{
 "title": "Consolidated Equity Positioning (public-data reconstruction)",
 "formula": "composite = equal-weight mean of component Z-scores (expanding, min 156 weekly obs, past-only, winsorised +/-3). NO intercept/offset.",
 "latest_date": "2026-08-07",
 "latest_value": -0.0256,
 "model_inception": "2013-01-04",
 "percentile_since_model_inception": 31.5,
 "components": [
  "cta",
  "volcontrol",
  "cftc",
  "naaim",
  "umc_sentiment",
  "margin_growth",
  "vix_term",
  "cboe_pcr",
  "fin_stress"
 ],
 "generated_utc": "2026-08-04T10:31:07Z",
 "disclaimer": "Independent public-data reconstruction. NOT the official Deutsche Bank index. Not investment advice.",
 "audit": "composite == equal-weight mean of component Z-scores (asserted, max dev < 1e-9)",
 "validation_summary": {
  "fit_window": "2010-01..2025-06",
  "holdout_model_selection_period": "2025-07..2026-06",
  "note": "holdout used to select 4-component model; no untouched final test remains",
  "full_period_corr_to_digitised_target": 0.89,
  "holdout_corr": 0.78
 }
}