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Derived SignalEmerges from analysis

Securitization Dependency

How reliant is the business on capital markets access?

Seen in CVNA

Assessment Spectrum

MINIMAL
MODERATE
HIGH
CRITICAL
BestWorst
About Derived Signals
Derived signals emerge from analysis synthesis when company-specific patterns warrant additional categorization beyond the core 11 signals. They capture nuances that the standard framework surfaces through rigorous multi-model debate.

Assessment Labels

Every analysis assigns one of 4 categorical labels to this signal. Labels represent a spectrum from best to worst assessment.

MINIMALBest outcome

Business can operate normally without regular capital markets access. Funding is diversified or internally generated.

MODERATEPositive outcome

Capital markets access supports growth but isn't essential for operations. Business can survive temporary market closures.

HIGHConcerning outcome

Business model depends significantly on ongoing capital markets access. Extended market closure would materially impair profitability.

CRITICALWorst outcome

Business cannot function without continuous capital markets access. Even brief market disruption threatens viability.

What This Signal Captures

ABS market dependencyLoan sale economicsFunding concentrationCredit market correlation

Emerges From

This derived signal emerges from analysis synthesis within these lenses when company-specific patterns warrant the additional categorization.

Gravy Gauge

Is this revenue durable, or does it depend on conditions that could change?

How to Interpret

This signal measures how exposed a company is to capital markets disruption. High dependency creates correlation risk—the company's profitability becomes tied to credit market conditions even if that's not its primary business.

All ConceptsLearn about Evidence Levels