Financial System Anomaly Index
Overview
FSAI* computes the System Coherence Index (SCI), measuring the degree of systemic incoherence — anomalous, divergent behavior among system components. High SCI values indicate that components of the financial system are behaving in ways that deviate significantly from expected coordinated dynamics.
Distinction from IRSA
IRSA (SII)
Measures structural integrity — how close the system is to its structural equilibrium. A stock-type measure: current state relative to baseline architecture.
FSAI* (SCI)
Measures behavioral incoherence — how divergently system components are acting. A flow-type measure: current dynamics relative to expected coordination.
Key Properties
SCI is bounded [0, 100] by construction.
SCI and SII are designed to be orthogonal: high SII does not imply low SCI.
Critical early-warning pattern: SCI rises before SII falls during crisis onset.
SCI volatility carries information independent of its level.