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V-Lab

XMAX Inc Spline ILLIQ Liquidity Analysis

Liquidity prediction for Thursday, July 23rd, 2026

1 Day

1,673.17

decreased by 285.24

1 Week

1,472.90

decreased by 485.51

1 Month

1,907.42

decreased by 50.99

Analysis last updated: Wednesday, July 22, 2026 at 09:14 PM UTC

Date Range:

from

to

6M ·

1Y ·

2Y ·

5Y ·

10Y ·

All

graph of XMAX Inc ILLIQ-SMEM

News Impact Curve

How returns affect tomorrow's liquidity

Liquidity Forecast

How liquidity evolves over time

Parameter Estimates

Sep 14, 2011 to Jul 17, 2026

Model Insight

This model fits a time-varying baseline (a spline), so illiquidity mean-reverts toward a slowly-shifting long-run level rather than a constant. Short-run deviations decay with a half-life of 36 trading days.

μ

ILLIQ-SMEM Model

Tap to view equation

ParameterValuet-statistic
ω

const

Unconditional variance weight

6.7400
3.15***
α

ARCH

Response to squared shocks

0.2201
10.40***
β

GARCH

Volatility persistence

0.7611
41.87***
γi Spline Coefficients
K=10
γ1-1.9529
-1.54
γ24.5079
2.19**
γ3-3.8269
-2.86***
γ41.8084
2.18**
γ50.2259
0.36
γ6-2.9091
-5.03***
γ74.9032
8.58***
γ8-4.9212
-6.67***
γ91.9084
2.53**
γ100.2914
0.28

Persistence:

0.981

Half-life:

36 days