Legal notice · Research by BiVelio

An educational tool, not investment advice

Research by BiVelio shows historical and simulated results for educational purposes only: they are not personalized financial advice or a recommendation to buy or sell (CNMV; Regulation (EU) No 596/2014 on market abuse). Leveraged ETFs can lose most of their value in a short time. Past performance, actual or simulated, does not guarantee future results.

Neither the articles nor the Modeler issue buy or sell signals, and they don't take into account anyone's situation, goals or risk profile.
Strategies are described to study how they behave, not to advise using them.
Before investing in leveraged or inverse products, read their key information document and, if you need to, talk to a licensed adviser.

Data sources

Yahoo Finance: daily closes of indexes and ETFs.
FRED (Federal Reserve Bank of St. Louis): Treasury bill and federal funds rates; NBER Macrohistory series for 1920–1954.
Robert Shiller (Yale University): monthly dividends of the S&P Composite.

Yahoo Finance prices are used only to compute results and charts; the site doesn't offer price series for download or return daily series, and crisis replays end at least a month before the latest data point.

Privacy

No cookies. We count visits anonymously and in aggregate; we don't store your full IP or anything about your browser. The site doesn't use third-party services: the fonts and the analytics are our own and are served from the site itself.

When each page loads, your browser tells the server which page it is, its language and which site you came from (the domain only). The server stores only daily totals: visits per page, referring site and language, and how many distinct visitors there were. To avoid counting the same person twice in a day it uses a one-way fingerprint made from your IP, your browser and a random key that is deleted every day; the fingerprint only lives in the server's memory until the day ends, and neither it, the IP nor the browser is ever written down in the analytics. If your browser asks not to be tracked (Do Not Track or Global Privacy Control), the visit isn't counted.

Technical logs. Like any web server, ours records each request to detect faults and abuse: the time, the address requested, the response (status, size and duration) and your truncated IP (for IPv4, only the first two numbers, 203.0.0.0; for IPv6, the first 32 bits), which points to a provider or an area, not a connection. It records nothing about your browser or where you came from: none of the request headers (no User-Agent, no Referer, no language). These logs move to a new file every day and each file is deleted after 14 days, so nothing recorded lasts more than about 15 days.

To limit how many API requests are made per minute from the same connection (and reply "too many requests" when the quota is exceeded), the server uses your full IP, but only in memory: it is lost when the server restarts and is never written anywhere.

Your browser only remembers, if you choose, the light or dark theme. The Modeler's settings travel in the page address so you can share it; they aren't stored on any server.

Owner

research.bivelio.com is BiVelio's research site, published under the Research by BiVelio brand.

Research by BiVelio is BiVelio's research site, operated by BiVelio Inc (Delaware, USA).

Owner information (Article 10 of Spain's Law 34/2002 on Information Society Services and Electronic Commerce, LSSI):

Owner: BiVelio Inc
Tax ID: EIN 35-2973094 (Employer Identification Number, U.S. Internal Revenue Service)
Address: 131 Continental Dr, Suite 305, Newark, DE 19713, United States
Incorporation: Corporation incorporated in the State of Delaware, United States
Contact: support@bivelio.com · privacy: privacy@bivelio.com