Индекс волатильности CBOE

Regarding the VIX Index (Fear Index)

The VIX Index is an indicator of stock market volatility published by the Chicago Board Options Exchange (CBOE). Specifically, it is a quantification of the expected volatility over the next 30 days calculated from S&P 500 index option prices. It reflects how much premium investors are willing to pay for concerns about market uncertainty and serves as an important barometer for measuring market sentiment.

There are multiple reasons why the VIX Index is considered important. First, it functions as an indicator showing the degree of risk perception among market participants. When the index is low (typically 10-20), it means investors view the market optimistically, and when it is high (30 or above), it indicates heightened anxiety. Second, it is utilized as a reference point for portfolio hedging decisions. Institutional investors adjust their positions in a risk-averse manner when the VIX rises. Third, it serves as a leading indicator of market turning points. Sudden spikes in VIX often portend stock price declines, while extremely low levels suggest market overheating.

Notable trends include the inverse correlation between VIX and stock prices. Historically, VIX has surged during geopolitical risks, financial crises, and central bank policy shifts. During the 2008 Lehman crisis, it reached levels exceeding 80. Additionally, even during periods of market stability, maintaining moderate levels of 15-25 is considered healthy, with extremely low levels suggesting subsequent sharp increase risks. Investors use this index as a reference for formulating risk management strategies.