Based on a methodology introduced in 1927 to analyze human skulls and later applied to turbulence in financial markets, this study shows how to use a statistically derived measure of financial turbulence to measure and manage risk and to improve investment performance.

View a webinar based on this article.

Author Information

Mark Kritzman, CFA, is at Windham Capital Management, LLC, Cambridge, Massachusetts.

Yuanzhen Li is at Windham Capital Management, LLC, Cambridge, Massachusetts.

Related Topics

Users who read this article also read


Rate and Share