VERMILION RESEARCH

Vermilion delivers timely, actionable research to professional investors.

Our unique technical and quantitative research methodology enables our team to deliver superior investment recommendations to our clients regardless of their investment style. Vermilion produces both U.S. and international, local currency, technical and quantitative research.

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Products

Vermilion offers a range of research solutions from predictive quantitative signals to classical technical research, all aimed at maximizing outperformance by highlighting areas of absolute and relative strength, weakness, and momentum across the world’s equity markets. Products are based on our proprietary relative strength ranking system and sector and group focus. Our historical price data is among the most robust in the industry and contains no survivorship bias which is critical for a true understanding of historical market trends.

VERMILION U.S. RESEARCH

Vermilion’s domestic research database covers approximately 5,000 active U.S.-traded stocks, each uniquely placed into one of our 12 proprietary sectors and 420 industry groups. Our analysis encompasses both, price and Vermilion’s proprietary relative strength ranking system (RSR). Our studies have shown that employing both price and relative strength leads to greater outperformance.
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VERMILION INTERNATIONAL RESEARCH

Similar to our U.S. analysis, our database of 7,000 international stocks is analyzed in the context of our 12 proprietary sectors and 440 industry groups and based on both, price and Vermilion’s proprietary relative strength ranking system (RSR). In addition, international stocks are categorized into seven distinct regions (Asia/Pacific, Canada, China, Europe, Japan, Latin America, and Middle East/Africa), for a better understanding of relative outperformance.

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VERMILION ETF RESEARCH

Vermilion’s ETF research database covers approximately 1,600 active U.S. exchange-traded ETFs, each uniquely placed into one of our 77 groups. Our analysis encompasses both, price and Vermilion’s proprietary relative strength ranking system (RSR).

About Us

Vermilion Research was founded in 2006 and is based in Minneapolis, Minnesota.

Vermilion’s research team has a combined 80 years of experience in the analysis and management of investment securities.

Vermilion's value

Vermilion’s objective is to deliver timely, actionable, and unique investment insights to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis Explained

Technical analysis is the study of price and volume relationships as a means to gain insight into stock market and individual stock trends. The underlying premise of technical analysis is that investors’ perceptions toward a sector, group, or stock drive the supply and demand. A pattern of movement establishes a trend. Therefore, inflections or trend violations may occur and forecast changes in the direction of stock prices.

CFA Institute published report

In a study of more than 10,000 actively managed equity and balanced funds, including about one-third of which employ technical analysis, authors Smith, Faugère, and Wang compared the investment performance of funds that use technical analysis versus those that do not using five metrics. They found that funds using technical analysis provided a meaningful advantage to their investors. Click here to read the full report.

Meet the Team

Our team has been together for over 20 years and has received numerous honors and distinctions for its technical research publications and research-based recommendations.

Joseph W. Jasper, CFA
David P. Nicoski, CMT
Ross LaDuke, CMT
Eric A. Anderson
Sean Cusick
Andres Soto

Research Samples

Vermilion Domestic Research Samples

Vermilion’s domestic research is based on a sample of approximately 6,000 active U.S.-traded stocks, commodities, and ETFs. Stocks are analyzed in the context of 12 sectors and 450 groups

Vermilion Compass

Weekly Sector, Group & Market recommendations

Vermilion’s Compass reports contain market observations and sector/group leadership commentary. A recent report provided sector commentary for Materials, Manufacturing, and Transport along with a review of supporting groups and constituent stocks.

  • File Type: PDF (~2-MB)
  • Publication Schedule: Approximately Weekly
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Vermilion Vital Signs

Charts and comment on noteworthy domestic stocks

Vermilion’s Vital Signs report ranks the most positive and negative domestic stocks, filtered by market-cap and trading volume, and then divided into sectors and groups. Vermilion reviews these charts for technical significance, calling attention to breakouts/breakdowns, sector/group themes, relative strength leadership changes, bottoms-up/top-down ideas, and important short-term patterns.

  • File Type: PDF (~500-Kb)
  • Publication Schedule: Approximately Weekly
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Vermilion ETF Pathfinder

Actionable ETF highlights & strategy

Vermilion’s ETF Pathfinder delivers market themes along with actionable commentary. A recent report highlighted charts for ACWX, DFE, GDX, GLD, IWB, IWM, IYT, RHS, RYU, SPY, VGK, VOX, VWO, XLF, XLI, and XRT and focused on themes such as equities – domestic – broad indices; equities – domestic – specific sectors; equities – domestic – specific industries; equities – international; and bonds, commodities & currencies.

  • File Type: PDF (~500-Kb)
  • Publication Schedule: Approximately Bi-monthly
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Vermilion International Research Samples

Vermilion’s international research is based on a sample of approximately 5,000 active stocks traded around the world. Stocks are analyzed in the context of 12 sectors and 450 groups based on 30-year weekly adjusted price histories expressed in USD. In addition, international stocks are analyzed by sector and 7 regions (Asia/Pacific, Canada, China, Europe, Japan, Latin America, and Middle East/Africa).

Vermilion International Compass

Weekly International Sector & market recommendations

Vermilion International Compass contains market observations and global sector/group leadership commentary. A recent report focused on Europe, Japan and Emerging Markets while providing actionable sector commentary and and a review of themes emerging in Autos, Chemicals, Macau Casinos, Banks and Manufacturing.

  • File Type: PDF (~2-MB)
  • Publication Schedule: Approximately Weekly
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Emerging Markets Screen & Chartbook

Leading stocks

Vermilion’s Emerging Market Screen & Chart Book helps pinpoint leading stocks, weeding out lagging and stagnating trends. Stocks are selected via a simple filter, with only stocks trading within 5% of a 52-week relative strength high making the cut.

  • File Type: PDF (~500-Kb)
  • Publication Schedule: Approximately Monthly
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Contact Us

By Phone

612.482.6800

By Email

info@vermilioncap.com

By Mail

  • Vermilion Research, LLC
  • 920 2nd Avenue South, Ste. 1225
  • Minneapolis, MN 55402

Driving directions (from MSP Int'l Airport):

Take MN-5 ramp (left lane) toward ST. PAUL / MINNEAPOLIS Merge onto I-35 north toward Minneapolis Stay left into downtown taking the 5th Avenue exit Turn left onto 9th Street; then turn left again onto 2nd Avenue So. Vermilion is in the International/Oracle Building at 920 2nd Avenue South (between 9th and 10th Streets) Underground parking entrances will be on your right

Total Est. Time: 12 minutes

U.S. Equity Research

Vermilion Macro Vision is a comprehensive, action-oriented, macro-themed book which provides institutional investors critical investment data, including:

  • An examination of the current technical condition of our 12 sectors and corresponding industry groups.
  • Proprietary technical ranking screens for each of our covered sectors and groups.
  • Detailed charts and commentary regarding the current state of the market health, in relation to breadth statistics, commodity/currency movements, interest rate direction, and global market forces.
  • Vermilion Macro Vision is published every 5-6 weeks.

Our Insights report provides timely equity sector and group opportunities for institutional investors. Ideas are generated through the use of proprietary screens and a comprehensive review of individual graphs. Our ideas are selected on the basis of significant trend inflections, increasing the likelihood for immediate performance. Subscribers receive timely, periodic publications containing graphs and technical commentary for every highlighted group and company mentioned.

In our Vermilion Vital Signs, we rank the most positive and negative U.S. stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts of the filtered names for technical significance: breakouts/breakdowns, sector/group themes, relative strength leadership/changes, bottoms-up, short-term patterns that may have long-term significance, etc. This product offers insights, as significant price and relative moves begin in the daily charts.

Our Compass service provides weekly analysis of over 3,000 stocks broken-down by sector and chart cycle. We characterize stocks as being in one of the following seven cycles, each explained in detail in every publication:

  • Bottom-fishing – Pullback to Support – Up-trends
  • Basing Momentum – Deterioration – Down-trends – Short Ideas

Vermilion’s Navigator report is a comprehensive technical appraisal of 12 sectors, 526 industry groups, and 5,500 stocks we track on a weekly basis. Vermilion’s Navigator serves as a roadmap for institutional investors, providing a clear, digestible understanding the market’s internal drivers, and enabling portfolio managers make better portfolio allocation decisions. The Navigator contains several sections, including:

  • Market internals: Relative and absolute highs/lows, sector/group/stock performance rankings, model portfolio performance.
  • Relative Strength Rank (RSR): our proprietary technical ranking methodology applied to 12 sectors, 510 industry groups and over 5,500 stocks. Rankings are presented at the sector, group, and individual stock level.

The ETF Pathfinder is similar in format to our current Macro Vision product, but is unique in its singular focus on ETFs. The ETF Pathfinder offers a comprehensive technical appraisal of the ETF universe. In addition the Pathfinder provides a relative strength ranking (RSR) by sector and asset class, a sector overview, and selected ETF Charts of Interest where we highlight the most technically significant ETF charts along with a constituent chart to help investors identify significant trends and their component drivers.

Vermilion Booster Shots contains charts with patterns demonstrating selling exhaustion, bottoming patterns and, in some cases, positive inflections. Bottom-fishing ideas serve as logical starting points for identifying improving price and relative strength reversals. Booster Shots is a great source of ideas for value-oriented investors.

Vermilion Short Shots is a collection of technically vulnerable charts culled from the “Negative Inflecting” and “Toppy” columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

International Research Products

The International Insights provides timely equity sector and group opportunities for international and global investors. Ideas are generated through the use of proprietary screens and a comprehensive review of individual graphs. Our ideas are selected on the basis of significant trend inflections, increasing the likelihood for immediate performance. Clients receive timely, periodic publications containing graphs and technical commentary for every highlighted group and company mentioned.

Our International Compass provides weekly analysis of over 2,000 stocks broken-down by sector and chart cycle. We characterize stocks as being in one of the following seven cycles, each explained in detail in every publication:

  • Bottom-fishing – Pullback to Support – Up-trends
  • Basing Momentum – Deterioration – Down-trends – Short Ideas

The International Navigator report is a comprehensive technical appraisal of 12 sectors, 443 industry groups, and 6,000 international stocks we track on a weekly basis. The output generated by the International Navigator serves as a roadmap for institutional investors, providing a clear, digestible understanding the internal drivers across the world’s equity markets, and enabling portfolio managers make better portfolio allocation decisions. The International Navigator contains several sections, including:

  • Market internals: Relative and absolute highs/lows, sector/group/stock performance rankings, model portfolio performance.
  • Relative Strength Rank (RSR): our proprietary technical ranking methodology applied to 12 sectors, 526 industry groups and over 3,000 international stocks. Rankings are presented at the sector, group, and individual stock level.

Joseph W. Jasper, CFA

Joseph Jasper is the Chairman of Vermilion Research. Joe is a seasoned professional in the management, analysis and marketing of investment securities. He was previously a Managing Director and Director of Fixed Income Strategy and Marketing for Piper Jaffray. Joe spent the previous 20 years managing, structuring and selling fixed income and equity securities at several firms, including U.S. Bancorp Libra, Sit Investment Advisors and UBS PaineWebber.

Joe is a CFA charter holder, a member of the CFA Institute, the Twin Cities Society of Securities Analysts, and served as Adjunct Professor of Finance at the University of St. Thomas and the Graduate School of Business from 1997-2003. Mr. Jasper received his B.S.B.A. from Drake University and his MBA from St. Thomas University. Joe currently serves on the Board of Directors of PetVivo and GroundCloud and has served as a director or advisor to numerous companies.

David P. Nicoski, CMT

David Nicoski is Vermilion’s Chief Investment Strategist and is responsible for managing the firm’s research products and investment recommendations. David Nicoski was previously a Principal and Senior Technical Analyst in the Technical Research department of a global investment bank and has more than 20 years of technical research experience. At his prior employer, David’s responsibilities included assisting in the production and marketing of the Firm’s technical research products.

Mr. Nicoski attended college at the University of Minnesota in the Applied Business Program and the Carlson School of Management. Mr. Nicoski holds a Chartered Market Technician designation.

Ross LaDuke, CMT

Ross LaDuke is a Global Technical Strategist for Vermilion and has oversight and responsibility for managing the firm’s international research products and technical strategy. Ross was previously employed by JNBA Financial Advisors where he was responsible for trading and rebalancing accounts, analyzing and reporting on current and potential individual equity and mutual fund holdings, and supporting the firm’s overall investment philosophy. His previous experience includes an internship at Split Rock Private Trading & Wealth Management. Ross is a member of the Market Technicians Association (MTA), and holder of the organization’s Chartered Market Technician (CMT®) designation.

Ross is a graduate of the University of Minnesota-Duluth, Labovitz School of Business and Economics. Ross earned a bachelor’s degree in economics, as well as minors in financial planning and financial markets.

Eric A. Anderson

Eric joined Vermilion in 2012 and is primarily responsible for equity research sales. Eric has ten years of institutional capital markets experience, having worked previously for Citi Corp’s equity middle markets sales desk. Prior to Citi, Eric was a vice president of asset management with First Trust Portfolios in Chicago.

Eric graduated from the University of Minnesota-Duluth with a Bachelor of Business Administration degree, Financial Markets major. Eric currently sits on the UMD Financial Markets Investment Committee.

Sean Cusick

Sean joined Vermilion team in 2023 as Lead Software Developer where he develops and maintains Vermilion’s custom software, quantitative data analytics systems, report generation, and server infrastructure.

Prior to joining the Vermilion team, Sean worked as a Java Developer for Advanced Technologies Group where he helped develop pharmacy software for the Federal Bureau of Prisons.

Sean received his bachelor’s in computer science from Drake University.

Andres Soto

Andres Soto is a research analyst and developer for Vermilion’s quantitative research products, responsible for statistical studies and augmenting the firm’s quantitative product line-up, including analyzing prospective and existing portfolio investments.

Prior to joining Vermilion, Andres was a research analyst at First Light Asset Management, where he supported the firm’s senior portfolio manager in the execution of the firm’s investment processes. Prior to First Light, Andres was the assistant director of new ventures at Columbia Technology Ventures. Mr. Soto graduated from Williams College with a bachelor’s degree in Spanish literature and currently is pursuing a master’s degree in financial mathematics from the University of Minnesota. He holds the Chartered Financial Analyst® (CFA) designation.