The gauges below provide the most recent reading for each of our indicators. For more information on the indicators please visit our Strategy page
. Indicators are automatically updated at the end of each trading day at 4:33pm ET.
VRP (for XIV):
: The current bias of VXX and ZIV as determined by the current shape of the VIX futures term structure and short-term trend indicators. A more negative reading means a stronger negative bias ("headwind") for that security. A more positive reading means a stronger positive bias ("tailwind"). Values from +10 to -10 represent +/- 4 standard deviations of values since March 2004.
: The VRP (Volatility Risk Premium) signal compares forward implied volatility (VIX) with historical volatility. The common convention is that a positive reading indicates a buy signal for XIV while a change to negative indicates a buy signal for VXX. The magnitude of the reading is irrelevant for our purposes.
The charts below contain plots of historical indicator values compared with performance of VXX, XIV, and ZIV (Indicator values use the left axis; Price uses the right axis).