SIGMA Engine v5.0
Side-by-side systemic risk analysis for 231 sovereign pairs. Which country carries more financial risk, banking stress, and debt vulnerability?
⚠ Pairs with elevated regime — at least one entity in critical or collapse
Romania / Italy
76 SIGMA
Romania / European Union
76 SIGMA
Romania / United States
76 SIGMA
Romania / Germany
76 SIGMA
Romania / France
76 SIGMA
Romania / Greece
76 SIGMA
Romania / Spain
76 SIGMA
Romania / Hungary
76 SIGMA
Romania / Poland
76 SIGMA
Romania / Czechia
76 SIGMA
Romania / Bulgaria
76 SIGMA
Romania / Austria
76 SIGMA
Romania / Serbia
76 SIGMA
Romania / Ukraine
76 SIGMA
Romania / Turkey
76 SIGMA
Romania / China
76 SIGMA
Romania / Japan
76 SIGMA
Romania / Netherlands
76 SIGMA
Romania / Portugal
76 SIGMA
Romania / Switzerland
76 SIGMA
Romania / India
76 SIGMA
Italy / Hungary
67 SIGMA
Italy / Serbia
65 SIGMA
Italy / Ukraine
92 SIGMA
Italy / Turkey
84 SIGMA
Italy / China
74 SIGMA
European Union / Hungary
67 SIGMA
European Union / Serbia
65 SIGMA
European Union / Ukraine
92 SIGMA
European Union / Turkey
84 SIGMA
European Union / China
74 SIGMA
United States / Hungary
67 SIGMA
United States / Serbia
65 SIGMA
United States / Ukraine
92 SIGMA
United States / Turkey
84 SIGMA
United States / China
74 SIGMA
Germany / Hungary
67 SIGMA
Germany / Serbia
65 SIGMA
Germany / Ukraine
92 SIGMA
Germany / Turkey
84 SIGMA
Germany / China
74 SIGMA
France / Hungary
67 SIGMA
France / Serbia
65 SIGMA
France / Ukraine
92 SIGMA
France / Turkey
84 SIGMA
France / China
74 SIGMA
Greece / Hungary
67 SIGMA
Greece / Serbia
65 SIGMA
Greece / Ukraine
92 SIGMA
Greece / Turkey
84 SIGMA
Greece / China
74 SIGMA
Spain / Hungary
67 SIGMA
Spain / Serbia
65 SIGMA
Spain / Ukraine
92 SIGMA
Spain / Turkey
84 SIGMA
Spain / China
74 SIGMA
Hungary / Poland
67 SIGMA
Hungary / Czechia
67 SIGMA
Hungary / Bulgaria
67 SIGMA
Hungary / Austria
67 SIGMA
Hungary / Serbia
67 SIGMA
Hungary / Ukraine
67 SIGMA
Hungary / Turkey
67 SIGMA
Hungary / China
67 SIGMA
Hungary / Japan
67 SIGMA
Hungary / Netherlands
67 SIGMA
Hungary / Portugal
67 SIGMA
Hungary / Switzerland
67 SIGMA
Hungary / India
67 SIGMA
Poland / Serbia
65 SIGMA
Poland / Ukraine
92 SIGMA
Poland / Turkey
84 SIGMA
Poland / China
74 SIGMA
Czechia / Serbia
65 SIGMA
Czechia / Ukraine
92 SIGMA
Czechia / Turkey
84 SIGMA
Czechia / China
74 SIGMA
Bulgaria / Serbia
65 SIGMA
Bulgaria / Ukraine
92 SIGMA
Bulgaria / Turkey
84 SIGMA
Bulgaria / China
74 SIGMA
Austria / Serbia
65 SIGMA
Austria / Ukraine
92 SIGMA
Austria / Turkey
84 SIGMA
Austria / China
74 SIGMA
Serbia / Ukraine
65 SIGMA
Serbia / Turkey
65 SIGMA
Serbia / China
65 SIGMA
Serbia / Japan
65 SIGMA
Serbia / Netherlands
65 SIGMA
Serbia / Portugal
65 SIGMA
Serbia / Switzerland
65 SIGMA
Serbia / India
65 SIGMA
Ukraine / Turkey
92 SIGMA
Ukraine / China
92 SIGMA
Ukraine / Japan
92 SIGMA
Ukraine / Netherlands
92 SIGMA
Ukraine / Portugal
92 SIGMA
Ukraine / Switzerland
92 SIGMA
Ukraine / India
92 SIGMA
Turkey / China
84 SIGMA
Turkey / Japan
84 SIGMA
Turkey / Netherlands
84 SIGMA
Turkey / Portugal
84 SIGMA
Turkey / Switzerland
84 SIGMA
Turkey / India
84 SIGMA
China / Japan
74 SIGMA
China / Netherlands
74 SIGMA
China / Portugal
74 SIGMA
China / Switzerland
74 SIGMA
China / India
74 SIGMA
CEE
82 pairs
Romania
critical
Italy
accumulation
Safer
🇮🇹 Italy
Romania
critical
European Union
accumulation
Safer
🇪🇺 European
Romania
critical
United States
accumulation
Safer
🇺🇸 United
Romania
critical
Germany
accumulation
Safer
🇩🇪 Germany
Romania
critical
France
accumulation
Safer
🇫🇷 France
Romania
critical
Greece
accumulation
Safer
🇬🇷 Greece
Romania
critical
Spain
accumulation
Safer
🇪🇸 Spain
Romania
critical
Hungary
critical
Safer
🇭🇺 Hungary
Romania
critical
Poland
stable
Safer
🇵🇱 Poland
Romania
critical
Czechia
stable
Safer
🇨🇿 Czechia
Romania
critical
Bulgaria
accumulation
Safer
🇧🇬 Bulgaria
Romania
critical
Austria
stable
Safer
🇦🇹 Austria
Romania
critical
Serbia
critical
Safer
🇷🇸 Serbia
Romania
critical
Ukraine
collapse
Safer
🇷🇴 Romania
Romania
critical
Turkey
critical
Safer
🇷🇴 Romania
Romania
critical
China
critical
Safer
🇨🇳 China
Romania
critical
Japan
accumulation
Safer
🇯🇵 Japan
Romania
critical
Netherlands
stable
Safer
🇳🇱 Netherlands
Romania
critical
Portugal
accumulation
Safer
🇵🇹 Portugal
Romania
critical
Switzerland
stable
Safer
🇨🇭 Switzerland
Romania
critical
India
accumulation
Safer
🇮🇳 India
Hungary
critical
Poland
stable
Safer
🇵🇱 Poland
Hungary
critical
Czechia
stable
Safer
🇨🇿 Czechia
Hungary
critical
Bulgaria
accumulation
Safer
🇧🇬 Bulgaria
Hungary
critical
Austria
stable
Safer
🇦🇹 Austria
Hungary
critical
Serbia
critical
Safer
🇷🇸 Serbia
Hungary
critical
Ukraine
collapse
Safer
🇭🇺 Hungary
Hungary
critical
Turkey
critical
Safer
🇭🇺 Hungary
Hungary
critical
China
critical
Safer
🇭🇺 Hungary
Hungary
critical
Japan
accumulation
Safer
🇯🇵 Japan
Hungary
critical
Netherlands
stable
Safer
🇳🇱 Netherlands
Hungary
critical
Portugal
accumulation
Safer
🇵🇹 Portugal
Hungary
critical
Switzerland
stable
Safer
🇨🇭 Switzerland
Hungary
critical
India
accumulation
Safer
🇮🇳 India
Poland
stable
Czechia
stable
Safer
🇨🇿 Czechia
Poland
stable
Bulgaria
accumulation
Safer
🇵🇱 Poland
Poland
stable
Austria
stable
Safer
🇦🇹 Austria
Poland
stable
Serbia
critical
Safer
🇵🇱 Poland
Poland
stable
Ukraine
collapse
Safer
🇵🇱 Poland
Poland
stable
Turkey
critical
Safer
🇵🇱 Poland
Poland
stable
China
critical
Safer
🇵🇱 Poland
Poland
stable
Japan
accumulation
Safer
🇵🇱 Poland
Poland
stable
Netherlands
stable
Safer
🇳🇱 Netherlands
Poland
stable
Portugal
accumulation
Safer
🇵🇱 Poland
Poland
stable
Switzerland
stable
Safer
🇨🇭 Switzerland
Poland
stable
India
accumulation
Safer
🇵🇱 Poland
Czechia
stable
Bulgaria
accumulation
Safer
🇨🇿 Czechia
Czechia
stable
Austria
stable
Safer
🇦🇹 Austria
Czechia
stable
Serbia
critical
Safer
🇨🇿 Czechia
Czechia
stable
Ukraine
collapse
Safer
🇨🇿 Czechia
Czechia
stable
Turkey
critical
Safer
🇨🇿 Czechia
Czechia
stable
China
critical
Safer
🇨🇿 Czechia
Czechia
stable
Japan
accumulation
Safer
🇨🇿 Czechia
Czechia
stable
Netherlands
stable
Safer
🇳🇱 Netherlands
Czechia
stable
Portugal
accumulation
Safer
🇨🇿 Czechia
Czechia
stable
Switzerland
stable
Safer
🇨🇭 Switzerland
Czechia
stable
India
accumulation
Safer
🇨🇿 Czechia
Bulgaria
accumulation
Austria
stable
Safer
🇦🇹 Austria
Bulgaria
accumulation
Serbia
critical
Safer
🇧🇬 Bulgaria
Bulgaria
accumulation
Ukraine
collapse
Safer
🇧🇬 Bulgaria
Bulgaria
accumulation
Turkey
critical
Safer
🇧🇬 Bulgaria
Bulgaria
accumulation
China
critical
Safer
🇧🇬 Bulgaria
Bulgaria
accumulation
Japan
accumulation
Safer
🇧🇬 Bulgaria
Bulgaria
accumulation
Netherlands
stable
Safer
🇳🇱 Netherlands
Bulgaria
accumulation
Portugal
accumulation
Safer
🇧🇬 Bulgaria
Bulgaria
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
Bulgaria
accumulation
India
accumulation
Safer
🇧🇬 Bulgaria
Serbia
critical
Ukraine
collapse
Safer
🇷🇸 Serbia
Serbia
critical
Turkey
critical
Safer
🇷🇸 Serbia
Serbia
critical
China
critical
Safer
🇷🇸 Serbia
Serbia
critical
Japan
accumulation
Safer
🇯🇵 Japan
Serbia
critical
Netherlands
stable
Safer
🇳🇱 Netherlands
Serbia
critical
Portugal
accumulation
Safer
🇵🇹 Portugal
Serbia
critical
Switzerland
stable
Safer
🇨🇭 Switzerland
Serbia
critical
India
accumulation
Safer
🇮🇳 India
Ukraine
collapse
Turkey
critical
Safer
🇹🇷 Turkey
Ukraine
collapse
China
critical
Safer
🇨🇳 China
Ukraine
collapse
Japan
accumulation
Safer
🇯🇵 Japan
Ukraine
collapse
Netherlands
stable
Safer
🇳🇱 Netherlands
Ukraine
collapse
Portugal
accumulation
Safer
🇵🇹 Portugal
Ukraine
collapse
Switzerland
stable
Safer
🇨🇭 Switzerland
Ukraine
collapse
India
accumulation
Safer
🇮🇳 India
EU
116 pairs
Italy
accumulation
European Union
accumulation
Safer
🇪🇺 European
Italy
accumulation
United States
accumulation
Safer
🇺🇸 United
Italy
accumulation
Germany
accumulation
Safer
🇩🇪 Germany
Italy
accumulation
France
accumulation
Safer
🇫🇷 France
Italy
accumulation
Greece
accumulation
Safer
🇬🇷 Greece
Italy
accumulation
Spain
accumulation
Safer
🇪🇸 Spain
Italy
accumulation
Hungary
critical
Safer
🇭🇺 Hungary
Italy
accumulation
Poland
stable
Safer
🇵🇱 Poland
Italy
accumulation
Czechia
stable
Safer
🇨🇿 Czechia
Italy
accumulation
Bulgaria
accumulation
Safer
🇧🇬 Bulgaria
Italy
accumulation
Austria
stable
Safer
🇦🇹 Austria
Italy
accumulation
Serbia
critical
Safer
🇷🇸 Serbia
Italy
accumulation
Ukraine
collapse
Safer
🇮🇹 Italy
Italy
accumulation
Turkey
critical
Safer
🇮🇹 Italy
Italy
accumulation
China
critical
Safer
🇮🇹 Italy
Italy
accumulation
Japan
accumulation
Safer
🇯🇵 Japan
Italy
accumulation
Netherlands
stable
Safer
🇳🇱 Netherlands
Italy
accumulation
Portugal
accumulation
Safer
🇵🇹 Portugal
Italy
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
Italy
accumulation
India
accumulation
Safer
🇮🇳 India
European Union
accumulation
United States
accumulation
Safer
🇺🇸 United
European Union
accumulation
Germany
accumulation
Safer
🇩🇪 Germany
European Union
accumulation
France
accumulation
Safer
🇪🇺 European
European Union
accumulation
Greece
accumulation
Safer
🇪🇺 European
European Union
accumulation
Spain
accumulation
Safer
🇪🇺 European
European Union
accumulation
Hungary
critical
Safer
🇪🇺 European
European Union
accumulation
Poland
stable
Safer
🇵🇱 Poland
European Union
accumulation
Czechia
stable
Safer
🇨🇿 Czechia
European Union
accumulation
Bulgaria
accumulation
Safer
🇪🇺 European
European Union
accumulation
Austria
stable
Safer
🇦🇹 Austria
European Union
accumulation
Serbia
critical
Safer
🇪🇺 European
European Union
accumulation
Ukraine
collapse
Safer
🇪🇺 European
European Union
accumulation
Turkey
critical
Safer
🇪🇺 European
European Union
accumulation
China
critical
Safer
🇪🇺 European
European Union
accumulation
Japan
accumulation
Safer
🇪🇺 European
European Union
accumulation
Netherlands
stable
Safer
🇳🇱 Netherlands
European Union
accumulation
Portugal
accumulation
Safer
🇪🇺 European
European Union
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
European Union
accumulation
India
accumulation
Safer
🇪🇺 European
Germany
accumulation
France
accumulation
Safer
🇩🇪 Germany
Germany
accumulation
Greece
accumulation
Safer
🇩🇪 Germany
Germany
accumulation
Spain
accumulation
Safer
🇩🇪 Germany
Germany
accumulation
Hungary
critical
Safer
🇩🇪 Germany
Germany
accumulation
Poland
stable
Safer
🇵🇱 Poland
Germany
accumulation
Czechia
stable
Safer
🇨🇿 Czechia
Germany
accumulation
Bulgaria
accumulation
Safer
🇩🇪 Germany
Germany
accumulation
Austria
stable
Safer
🇦🇹 Austria
Germany
accumulation
Serbia
critical
Safer
🇩🇪 Germany
Germany
accumulation
Ukraine
collapse
Safer
🇩🇪 Germany
Germany
accumulation
Turkey
critical
Safer
🇩🇪 Germany
Germany
accumulation
China
critical
Safer
🇩🇪 Germany
Germany
accumulation
Japan
accumulation
Safer
🇩🇪 Germany
Germany
accumulation
Netherlands
stable
Safer
🇳🇱 Netherlands
Germany
accumulation
Portugal
accumulation
Safer
🇩🇪 Germany
Germany
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
Germany
accumulation
India
accumulation
Safer
🇩🇪 Germany
France
accumulation
Greece
accumulation
Safer
🇫🇷 France
France
accumulation
Spain
accumulation
Safer
🇪🇸 Spain
France
accumulation
Hungary
critical
Safer
🇫🇷 France
France
accumulation
Poland
stable
Safer
🇵🇱 Poland
France
accumulation
Czechia
stable
Safer
🇨🇿 Czechia
France
accumulation
Bulgaria
accumulation
Safer
🇧🇬 Bulgaria
France
accumulation
Austria
stable
Safer
🇦🇹 Austria
France
accumulation
Serbia
critical
Safer
🇫🇷 France
France
accumulation
Ukraine
collapse
Safer
🇫🇷 France
France
accumulation
Turkey
critical
Safer
🇫🇷 France
France
accumulation
China
critical
Safer
🇫🇷 France
France
accumulation
Japan
accumulation
Safer
🇯🇵 Japan
France
accumulation
Netherlands
stable
Safer
🇳🇱 Netherlands
France
accumulation
Portugal
accumulation
Safer
🇵🇹 Portugal
France
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
France
accumulation
India
accumulation
Safer
🇫🇷 France
Greece
accumulation
Spain
accumulation
Safer
🇪🇸 Spain
Greece
accumulation
Hungary
critical
Safer
🇬🇷 Greece
Greece
accumulation
Poland
stable
Safer
🇵🇱 Poland
Greece
accumulation
Czechia
stable
Safer
🇨🇿 Czechia
Greece
accumulation
Bulgaria
accumulation
Safer
🇧🇬 Bulgaria
Greece
accumulation
Austria
stable
Safer
🇦🇹 Austria
Greece
accumulation
Serbia
critical
Safer
🇬🇷 Greece
Greece
accumulation
Ukraine
collapse
Safer
🇬🇷 Greece
Greece
accumulation
Turkey
critical
Safer
🇬🇷 Greece
Greece
accumulation
China
critical
Safer
🇬🇷 Greece
Greece
accumulation
Japan
accumulation
Safer
🇯🇵 Japan
Greece
accumulation
Netherlands
stable
Safer
🇳🇱 Netherlands
Greece
accumulation
Portugal
accumulation
Safer
🇵🇹 Portugal
Greece
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
Greece
accumulation
India
accumulation
Safer
🇮🇳 India
Spain
accumulation
Hungary
critical
Safer
🇪🇸 Spain
Spain
accumulation
Poland
stable
Safer
🇵🇱 Poland
Spain
accumulation
Czechia
stable
Safer
🇨🇿 Czechia
Spain
accumulation
Bulgaria
accumulation
Safer
🇧🇬 Bulgaria
Spain
accumulation
Austria
stable
Safer
🇦🇹 Austria
Spain
accumulation
Serbia
critical
Safer
🇪🇸 Spain
Spain
accumulation
Ukraine
collapse
Safer
🇪🇸 Spain
Spain
accumulation
Turkey
critical
Safer
🇪🇸 Spain
Spain
accumulation
China
critical
Safer
🇪🇸 Spain
Spain
accumulation
Japan
accumulation
Safer
🇯🇵 Japan
Spain
accumulation
Netherlands
stable
Safer
🇳🇱 Netherlands
Spain
accumulation
Portugal
accumulation
Safer
🇵🇹 Portugal
Spain
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
Spain
accumulation
India
accumulation
Safer
🇪🇸 Spain
Austria
stable
Serbia
critical
Safer
🇦🇹 Austria
Austria
stable
Ukraine
collapse
Safer
🇦🇹 Austria
Austria
stable
Turkey
critical
Safer
🇦🇹 Austria
Austria
stable
China
critical
Safer
🇦🇹 Austria
Austria
stable
Japan
accumulation
Safer
🇦🇹 Austria
Austria
stable
Netherlands
stable
Safer
🇳🇱 Netherlands
Austria
stable
Portugal
accumulation
Safer
🇦🇹 Austria
Austria
stable
Switzerland
stable
Safer
🇨🇭 Switzerland
Austria
stable
India
accumulation
Safer
🇦🇹 Austria
Netherlands
stable
Portugal
accumulation
Safer
🇳🇱 Netherlands
Netherlands
stable
Switzerland
stable
Safer
🇨🇭 Switzerland
Netherlands
stable
India
accumulation
Safer
🇳🇱 Netherlands
Portugal
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
Portugal
accumulation
India
accumulation
Safer
🇵🇹 Portugal
Switzerland
stable
India
accumulation
Safer
🇨🇭 Switzerland
US
18 pairs
United States
accumulation
Germany
accumulation
Safer
🇩🇪 Germany
United States
accumulation
France
accumulation
Safer
🇺🇸 United
United States
accumulation
Greece
accumulation
Safer
🇺🇸 United
United States
accumulation
Spain
accumulation
Safer
🇺🇸 United
United States
accumulation
Hungary
critical
Safer
🇺🇸 United
United States
accumulation
Poland
stable
Safer
🇵🇱 Poland
United States
accumulation
Czechia
stable
Safer
🇨🇿 Czechia
United States
accumulation
Bulgaria
accumulation
Safer
🇺🇸 United
United States
accumulation
Austria
stable
Safer
🇦🇹 Austria
United States
accumulation
Serbia
critical
Safer
🇺🇸 United
United States
accumulation
Ukraine
collapse
Safer
🇺🇸 United
United States
accumulation
Turkey
critical
Safer
🇺🇸 United
United States
accumulation
China
critical
Safer
🇺🇸 United
United States
accumulation
Japan
accumulation
Safer
🇺🇸 United
United States
accumulation
Netherlands
stable
Safer
🇳🇱 Netherlands
United States
accumulation
Portugal
accumulation
Safer
🇺🇸 United
United States
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
United States
accumulation
India
accumulation
Safer
🇺🇸 United
EM
6 pairs
Turkey
critical
China
critical
Safer
🇨🇳 China
Turkey
critical
Japan
accumulation
Safer
🇯🇵 Japan
Turkey
critical
Netherlands
stable
Safer
🇳🇱 Netherlands
Turkey
critical
Portugal
accumulation
Safer
🇵🇹 Portugal
Turkey
critical
Switzerland
stable
Safer
🇨🇭 Switzerland
Turkey
critical
India
accumulation
Safer
🇮🇳 India
APAC
9 pairs
China
critical
Japan
accumulation
Safer
🇯🇵 Japan
China
critical
Netherlands
stable
Safer
🇳🇱 Netherlands
China
critical
Portugal
accumulation
Safer
🇵🇹 Portugal
China
critical
Switzerland
stable
Safer
🇨🇭 Switzerland
China
critical
India
accumulation
Safer
🇮🇳 India
Japan
accumulation
Netherlands
stable
Safer
🇳🇱 Netherlands
Japan
accumulation
Portugal
accumulation
Safer
🇵🇹 Portugal
Japan
accumulation
Switzerland
stable
Safer
🇨🇭 Switzerland
Japan
accumulation
India
accumulation
Safer
🇯🇵 Japan
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