You are now leaving RussellInvestments.com. The following link may contain information concerning investments other than those offered by Russell Investments, its affiliates or subsidiaries. Neither Russell Investments nor its affiliates are responsible for investment decisions made with respect to such investments or for the accuracy or completeness of information about such investments. The material available on this site has been produced by independent providers that are not affiliated with Russell Investments. Descriptions of, references to, or links to products or publications within any linked web site does not imply endorsement of that product or publication by Russell Investments. Any opinions or recommendations expressed are solely those of the independent providers and are not the opinions or recommendations of Russell Investments, which is not responsible for any inaccuracies or errors.
+/- 1 standard deviation of CBOE S&P 500 Volatility Index figures fall into this range.
Data represent historical month end values
Frequently Asked Questions
What is it?
The Chicago Board Options Exchange Volatility Index (CBOE VIX) measures annualized implied volatility conveyed by S&P 500 stock index option prices. The indicator value reflects a month end reading of the trailing daily average for the month.
Why is it important?
Considered a key measure of market expectations of near-term volatility.
How do we interpret it?
An increasing VIX represents an increase in investor uncertainty about the near-term direction of the market. A decreasing VIX suggests the opposite.
Typical historical range
As of December 31, 2019, +/- 1 standard deviation* of historical month-end values have ranged from 12.23% to 27.31%.1