VIX® Index & Volatility


VIX and Volatility

The Cboe Volatility Index® (VIX® Index) is considered by many to be the world's premier barometer of equity market volatility. The VIX Index is based on real-time prices of options on the S&P 500® Index (SPX) and is designed to reflect investors' consensus view of future (30-day) expected stock market volatility. The VIX Index is often referred to as the market's "fear gauge".

The VIX Index is the centerpiece of Cboe Global Markets' volatility franchise, which includes volatility indexes on broad-based stock indexes, exchange traded funds, individual stocks, commodities and several strategy and performance based indexes, as well as tradable volatility contracts, such as VIX options and futures.

These revolutionary volatility products can offer investors effective ways to help manage risk, leverage volatility and diversify a portfolio.


The suite of Cboe VIX® Index products covers expected volatility across asset classes- equities, fixed income, foreign exchange and commodities. The suite also includes a handful of volatilities of individual stocks. Each VIX in the suite can be viewed as a fear gauge for its underlying asset. Every day, as economic events unfold, the expected volatilities of different asset classes increase or decrease. The Cboe VIX Suite Heat Map highlights these daily variations. It uses the colour spectrum from green to red to indicate the VIX Indexes which had the smallest to greatest percentage change from close to close.