What is the Gap Index?
The Gap Index is one number. It says how far chain prices sit from stock quotes. It is a mean of the gap size across stocks. Each stock is weighted by its main pool depth. The unit is percent. Its short name is GAPX.
A stock counts when its two prices can be compared. Its main pools must hold at least $2,000. Its quote and pool reads must be fresh.
The Gap Index uses the size of each gap. It drops the sign. A signed mean is kept too. See Breadth.
| Field | Meaning |
|---|---|
value | Depth-weighted mean of the gap size, percent |
meanSigned | Same, but with the sign kept |
countComparable | Stocks in the reading |
depthUsd | Total pool depth used as weight |
widest | The stock with the largest gap size |
Sample
Section titled “Sample”Two stocks count. One has a +2% gap and $10,000 depth. One has a -6% gap and $30,000 depth. The Gap Index is 5%. The signed mean is -4%.