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As you can see from the trading object title, this item gets historical data of the NAIIM survey of manager sentiment. The survey is conducted every week and it consists of getting the overall equity exposure on a specific day (Wednesdays) of active money managers. The survey results are averaged to provide a single measure of the average long or short position of all NAAIM active managers. The measure can be interpreted as follows: Leverage Short, Fully Short or Bearish, Cash or Hedged to market neutral / Cautious, Fully Invested or Bullish, Leveraged Long.
The data is downloaded directly from the NAAIM website in Excel format. It is processed and saved under "^NAAIM_Manager_Sentiment" ticker symbol.
The NAAIM Survey of Manager Sentiment is released by the National Association of Active Investment Managers, a non-profit association of registered investment advisors that was created in 1989. Investment advisors help their clients by providing them with better risk-adjusted returns compared to more passive buy and hold strategies.
In addition to the NAAIM Survey of Manager Sentiment, you can download several other market sentiment indices: Permabear Sentiment Index is a very interesting market sentiment index that uses Google Trends to measure the popularity of several permabear traders. AAII Sentiment Survey - Historical Data evaluates the market sentiment of AAII members over the coming six months. ISEE Index - ISE Sentiment Index is a put/call ratio developed by ISEE and calculated differently than the classic put/call ratio created by the CBOE. Advance Decline Line is probably the most known market sentiment indicator. It gets the difference between advancing and declining stock in a specific exchange. McClellan Oscillator and Summation Index are widely used market breadth indicators.
