Climate state now
Oceanic Nino Index since 1990 (3-month average anomaly, °C; plotted at publication date)
Above +0.5 °C is El Niño, above +1.5 °C strong; below −0.5 °C is La Niña. The ONI is published about ten days into the second month after its window, so the latest value describes the three months to the end of last month.
Registered decisions: what the frozen conditions imply, and what that earns
The frozen climate conditions below are turned into paper positions by one fixed rule, registered before any result and scored from the first trading day after the freeze. These are implied positions in a research experiment, not advice. The rule covers the three tables frozen with it (batches 1, 3 and 4); batch 5 is a condition ledger and does not vote.
The same rule run on rows admitted causally in the past shows no historical edge (see the backtest below), so the live record is the test.
Implied positions from the next trading day
Live paper portfolio: cumulative log return (net of costs)
Causal backtest 2016–2026: cumulative log return, climate extreme tail (weekly)
Backtest: rows admitted causally each 1 January from outcomes already resolved, then scored on the entries made that year