The PRISM Report: A Clearer View of Global Investment Trends
The Prism Report is your streamlined, data-driven guide to uncovering opportunities across global markets and asset classes. Built around Asbury Research’s foundational “three-legged stool” approach of trend, relative performance, and asset flows, this tool offers a concise and comprehensive way to quickly and clearly identify where capital is being rewarded.
PRISM, which stands for Portfolio Review of Investment Sectors and Markets, is published at the end of the week. You can find the PRISM Report right in the middle of the Research Center, listed chronologically with other reports, such as Keys to This Week and The Weekly Wrap-Up. You can pull up all recently published PRISM Reports by typing “PRISM” in the Search By Keyword box located on the right border of the Research Center.
PRISM currently identifies Gold, Equities Ex-US, Small Cap and Emerging Markets as having a Positive/Bullish reading across all four time periods.
PRISM: 01-15-2026
Key Takeaways
The PRISM Report is currently showing the most widespread bullish readings in months. Four asset classes now register bullish signals across all four time frames, with an additional two asset classes showing bullish readings across three time frames. This configuration is notable as leadership is not coming from Technology, which typically drives performance within the S&P 500.
Instead, the market is presenting a more fragmented outlook. Strength in commodities and equities ex-U.S. suggests some degree of risk mitigation or diversification away from U.S. equities. At the same time, bullish signals in emerging markets and small-cap equities point to a continued appetite for risk.
Taken together, the data suggest a mixed but informative message: strong domestic economic growth reflected in small-cap leadership, rising inflation expectations implied by commodity strength, and a degree of caution toward U.S. equities following a substantial advance of approximately 43% since April 2025. As a mean-reverting system, the market appears to be balancing ongoing growth with growing awareness of valuation and downside risk.
At the heart of Prism is a simple but critical formula for success: positive price trend, positive relative performance, and positive asset flows. These three factors—trend, performance, and conviction—are the cornerstones of identifying sustainable market leadership.
We’ve expanded this concept across four key time frames:
- Micro (7 days)
- Short (21 days)
- Medium (63 days)
- Long (200 days)
This multi-horizon approach provides investors with a dynamic lens through which to view the market in a multidimensional way. Why does this matter?
- Trend: If the price isn’t appreciating, we’re not interested. Positive price momentum is non-negotiable.
- Relative Performance: If it isn’t beating the S&P 500, there’s an opportunity cost. Investors deserve better than average performance.
- Asset Flows: Capital inflow indicates directional conviction—real money moving with purpose. It’s the ultimate vote of confidence from institutional players with skin in the game.