Free Portfolio X-Ray
Paste your holdings and see what you really own: where the risk concentrates (not where the money is), which positions are redundant, which ETFs hold the same stocks under the hood, and the worst your exact mix would have been through. Runs in your browser on PairBook's public data, no sign-up, nothing uploaded anywhere.
Covers 4,700+ US stocks and ETFs · same engine as the MCP server and CLI · methodology
Try an example: QQQ + QQQM + VOO · tech + defensives · classic 60/40
What the X-ray measures
The engine computes one covariance matrix on your holdings' common history of weekly returns, then derives everything from it: each position's contribution to total risk (the Euler decomposition used on institutional risk desks), the diversification ratio and the number of genuinely independent bets, the blocks of holdings that move as one, issuer-sourced holdings overlap between your ETFs, and the drawdown your exact mix would have lived through against the S&P 500. Every formula is published on the methodology page; the analysis is descriptive of the past window and never a forecast or advice.
A free alternative to Morningstar's Instant X-Ray
Morningstar retired its free Instant X-Ray tool in April 2025 and moved portfolio X-rays behind its paid Investor subscription. If that is what brought you here, this page covers the same ground at no cost and with no account: paste your holdings above for the per-position risk decomposition, the portfolio correlation matrix, issuer-sourced ETF overlap and the historical drawdown of your exact mix, computed live in your browser on current data.
FAQ
Is Morningstar's Instant X-Ray still free?
No. Morningstar retired the free Instant X-Ray in April 2025 and portfolio X-rays now require its paid Investor subscription. This page stays free: it runs in your browser on PairBook's public data and needs no account.
Do I need an account, or to upload my portfolio anywhere?
No. You paste holdings into the page and the analysis runs in your browser; only the tickers' public price history is fetched. Nothing you type is stored or sent anywhere, and there is no sign-up.
What does the X-ray check that a simple pie chart does not?
Capital weights and risk are different things. The X-ray measures each position's share of total portfolio risk through the covariance matrix, flags near-duplicate holdings and ETFs that own the same stocks under the hood, counts your genuinely independent bets, and shows the worst drawdown your exact mix would have lived through.
Not sure where to start?
Browse the model portfolios, X-rayed: All-Weather, Three-Fund, Permanent Portfolio, Golden Butterfly and their peers, each analyzed with this same engine and recomputed weekly.
