Indeks Volatilitas Cboe

About the Cboe VIX Index (Fear Index)

The Cboe VIX Index is an indicator that measures the expected price volatility in the U.S. stock market. It is calculated by the Chicago Board Options Exchange and is based on data derived from option trading on the S&P 500 Index. Specifically, it quantifies the expected price fluctuation range of market participants over the next 30 days, typically ranging between 0 and 100.

This indicator is considered important because it functions as a "fear index" showing the level of market anxiety. A high VIX index indicates that investors are concerned about the risk of market decline, while a low value suggests the market is relatively stable. Institutional investors and traders use this indicator for risk management and constructing hedge strategies, and policymakers also reference it when assessing market health.

As a general trend, the VIX index typically ranges from 10 to 20, and when it exceeds 20, the market is considered unstable. During the COVID-19 shock in 2020, an extreme spike above 80 was observed. An important aspect to note is the inverse correlation—when the VIX spikes, stock prices tend to decline. Additionally, over the long term, it also reflects structural changes in the market, geopolitical risks, and shifts in monetary policy. For investors, monitoring the VIX level helps understand the overall risk environment of the market and make more appropriate investment decisions.