What is this?

Markets cycle through different "regimes" -- combinations of stock trends (up/down), rate trends (rising/falling), and dollar trends (strong/weak). This page shows how often each regime has occurred historically and what returns looked like during each one. For example, "Stocks Up / Rates Down / Dollar Weak" might be a goldilocks environment, while "Stocks Down / Rates Up / Dollar Strong" is typically painful. It helps you understand how unusual (or normal) the current market environment is compared to history.