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V-Lab

XMAX Inc Spline ILLIQ Liquidity Analysis

Liquidity prediction for Wednesday, July 15th, 2026

1 Day

1,773.04

decreased by 75.71

1 Week

1,870.49

increased by 21.74

1 Month

2,222.93

increased by 374.18

Analysis last updated: Tuesday, July 14, 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 10, 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 37 trading days.

μ

ILLIQ-SMEM Model

Tap to view equation

ParameterValuet-statistic
ω

const

Unconditional variance weight

6.7542
3.15***
α

ARCH

Response to squared shocks

0.2203
10.42***
β

GARCH

Volatility persistence

0.7613
42.18***
γi Spline Coefficients
K=10
γ1-1.9857
-1.53
γ24.5584
2.18**
γ3-3.8371
-2.82***
γ41.7783
2.13**
γ50.2749
0.44
γ6-2.9676
-5.12***
γ74.9625
8.43***
γ8-4.9108
-6.48***
γ91.7902
2.38**
γ100.4967
0.49

Persistence:

0.982

Half-life:

37 days