Article By:
Chris Ciovacco
Tuesday, October 10, 2023 12:41 PM EDT
The S&P 500 experienced a peak-to-trough drawdown of 7.83% between the July closing high and last week’s closing low. The VIX can be used in a weight-of-the-evidence approach to examine the correction or bear market question.
VIX-Leveraged ETPs And The 5% Contango Rule
Okay but the phrase "like instruments" may be confusing to some. I wanted to be clear that even instruments appearing to be opposites, or at least on opposite sides such as $VXX and $XIV, $UVXY and $SVXY, $ZIV and $VXZ etc. all declined in 2015.