^RUT

How deep ^RUT is below its own running peak, read against the distribution of every drawdown it has printed over the period — percentile bands, ±1/2/3σ around the mean and the tail VaR. The risk level is where today sits in that distribution, not a forecast.

A 0–100 entry score for ^RUT: a technical leg (RSI, drawdown from the 52-week high, Bollinger position, capitulation volume, distance from the 50/200 DMA) against a fundamental leg (safety, quality, cash flow, valuation), weighted by market regime and scaled by a macro read of VIX, the yield curve and the dollar. It buys weakness in a good business — so a strong stock at its highs scores low by design.