Guide to the
Zinscapital Terminal
In-depth walkthroughs of the terminal's core modules — what each one tracks, how the indicators work, and how to use them in a real macro research workflow.
We're covering the most differentiated modules first. Guides for all 20+ remaining modules are being added progressively — check back or join the waitlist to be notified.
Credit Impulse Monitor
Starter+The leading indicator most platforms don't track.
The credit impulse measures the change in new credit flow as a percentage of GDP. It is consistently one of the best 6–12 month leading indicators of economic momentum — when private credit creation accelerates, growth follows; when it contracts, slowdown follows. The monitor tracks the credit impulse across G10 economies and major EM blocs, with historical overlays against PMI, industrial production, and asset class returns.
- G10 credit impulse with 6-12 month lead overlaid on growth outcomes
- Private credit creation vs total credit decomposition
- Historical z-score to gauge current reading vs cycle norms
- Cross-country divergence: where credit is accelerating vs contracting
- Correlation matrix: credit impulse vs equity, credit, and commodity returns
A negative credit impulse that is bottoming and turning higher is one of the highest-conviction buy signals in macro investing — it precedes a growth reacceleration before it shows up in any headline indicator. Watch for the second derivative turning positive.
Global Liquidity Dashboard
Starter+The aggregate that moves risk assets more than earnings.
Central bank balance sheets — Fed, ECB, BoJ, PBoC, BoE — aggregated into a single global liquidity index, converted to USD. Historically, the correlation between this aggregate and global equity market capitalisation is tighter than any fundamental valuation metric. The dashboard tracks the current QE/QT cycle for each bank, M2 dynamics, and the lag relationship between liquidity and risk asset performance.
- Aggregate G5 central bank balance sheets in USD terms
- Individual CB balance sheet trend: expansion, plateau, or contraction
- M2 growth rates across US, eurozone, China, Japan
- Liquidity index vs global equity and credit market returns
- Rate-of-change momentum to identify inflection points
The global liquidity cycle leads risk assets by approximately 6 months on average. When the aggregate is contracting — even if individual economies look fine — it historically precedes multiple compression in equities. The BoJ balance sheet is often the swing factor markets underweight.
Business Cycle Regime Clock
Starter+Know which playbook applies before you build a position.
A proprietary composite that maps G10 economies onto the four-phase business cycle: expansion (growth accelerating, inflation rising), peak (growth slowing, inflation still high), contraction (growth and inflation both falling), and recovery (growth turning up, inflation still low). Each phase has a distinct historical asset class return profile — equities, bonds, commodities, and credit all behave differently across the cycle.
- Regime clock positioning for US, EU, UK, Japan, China
- Composite built from credit impulse, PMI, inflation trend, and CB stance
- Historical asset class returns by regime phase (rolling 20-year data)
- Regime transition probability based on current indicator trajectory
- Sector rotation map tied to cycle phase
The most important call is not which phase you're in — it's which phase you're transitioning to. The leading indicators in the terminal (credit impulse, yield curve slope, money supply) tell you that 6–9 months early. The Clock translates that into a positioning framework.
Cross-Asset Correlation Engine
Professional+Correlations change at cycle turning points. Track when they break.
Build cross-asset correlation matrices across up to 20 instruments simultaneously — equities, ETFs, currencies, commodities, or any FRED macro series. The engine shows rolling correlations across multiple time horizons, so you can see when historical relationships are breaking down. Pairs analysis module includes full cointegration testing, spread z-scores, hedge ratio estimation, and half-life calculation.
- Up to 20 assets in a single correlation matrix
- Rolling windows: 30d, 90d, 1y, 3y, 5y — spot regime breaks
- Pairs analysis: ADF cointegration test, z-score spread, hedge ratio
- Half-life of mean reversion for pairs trades
- Mix any asset class with FRED macro series (e.g. gold vs real yields)
The most valuable use of the Correlation Engine is during macro stress: equity-bond correlations turn positive, safe-haven FX diverges, and commodity correlations shift. Running the matrix weekly at cycle inflection points tells you which diversification assumptions are no longer holding.
Automated Equity Research
Professional+Institutional-grade research reports in seconds, not hours.
Enter any listed ticker and the engine assembles a structured research report: DCF valuation with overrideable assumptions (WACC, terminal growth rate, margin trajectory), EV/EBITDA and P/B multiples, football-field valuation range, comparable company analysis with z-scores, financial statement deep-dive (P&L, balance sheet, cash flow), analyst consensus, and a structured research summary — for informational and educational purposes only.
- Full DCF model with overrideable WACC, growth, and margin inputs
- EV/EBITDA, EV/Sales, P/E, P/B multiples vs peer group
- Football-field valuation range across methodologies
- Comparable company screen with sector and size filters
- Financial health scoring: leverage, liquidity, and earnings quality
- PDF export for external use or client delivery
Use the equity research engine after the macro regime clock has told you which sectors have a tailwind. The top-down framework tells you where to look; the research engine tells you which specific names have the best fundamental setup within that sector.
14 More Modules.
Guides Being Added Progressively.
The terminal covers far more ground than the five modules above. Detailed guides for every remaining module are being written and published in order of user priority. Join the waitlist to be notified when new guides go live.