> ## Documentation Index
> Fetch the complete documentation index at: https://docs.fincept.in/llms.txt
> Use this file to discover all available pages before exploring further.

# Discrete regime models

> Hidden Markov models on symbols and counts: categorical (coded series, return buckets, down/flat/up days; maximum likelihood or variational), Poisson (counts such as large moves, trades or defaults per period) and multinomial (counts over categories per period).

Toolset `regime_discrete`: 3 tools.

| Tool | What it does | Notes |
| - | - | - |
| `regime_categorical_hmm` | Categorical hidden Markov model on one symbol per period: a coded series, or a continuous feature cut into quantile buckets or down/flat/up signs. | |
| `regime_poisson_hmm` | Poisson hidden Markov model on counts per period (one or more count columns): regimes of low and high event intensity, e.g. the number of large market moves, trades or defaults per month. | |
| `regime_multinomial_hmm` | Multinomial hidden Markov model on counts over categories per period (each row's counts add up to its trials), e.g. down/flat/up days per week or advancing/declining issues per day. | |

Inputs, limits and outputs are described in [Fincept Regimes](/guides/fincept-regimes). Full schemas: `fincept_describe_tool`.


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