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Compare markets

Put up to four markets on the same ruler. The shapes do most of the explaining.

Market 1 Market 2 Market 3 Market 4

Grid flexibility & demand response 41 Demanding Paid not to use something: a market that turns a freezer into a power station, reached mostly through aggregators.
High-yield bonds 38 Moderate Equity-sized drawdowns wearing a bond's clothes — the volatility axis gives it away.

	Grid flexibility & demand response	High-yield bonds
Exit difficulty	4	3
Volatility	4	4
Leverage	1	1
Carry cost	1	1
Fraud risk	1	2
Protection gap	2	2
Barrier to entry	4	3
Expertise needed	4	4
Difficulty	41 Demanding	38 Moderate
In a sentence	Getting paid not to use electricity, or to switch on precisely when the system needs it — a market that turns a freezer into a tradeable asset.	Debt from borrowers the rating agencies do not trust, paying a large spread that is sometimes compensation and sometimes a warning.
Unit	Megawatt of availability, plus megawatt-hours delivered	Large institutional denominations
Smallest realistic trade	Aggregated portfolios; domestic participation via smart tariffs	Practically, via a fund
Settlement	Availability payments plus utilisation payments	T+2 OTC

The fingerprint measures how demanding a market is to take part in. It is not a rating or a recommendation.