27-Mar-2024
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The CBOE Volatility Index (VIX) is a widely followed measure of the expected volatility of the S&P 500. Since the VIX is not directly investable S&P 500 volatility exposure is often achieved through VIX futures. Each of the VIX futures indexes measures the movements of a combination of VIX futures and is designed to track changes in the expectation for VIX over a specific time window in the future. As a result the S&P 500 VIX Short-Term Futures Index and VIXY can be expected to perform differently than the VIX.
ProShares Vix Short-Term Futures ETF trades on the ARCA stock market under the symbol VIXY.
As of March 27, 2024, VIXY stock price declined to $12.68 with 2,920,828 million shares trading.
VIXY has a beta of -2.96, meaning it tends to be less sensitive to market movements. VIXY has a correlation of 0.59 to the broad based SPY ETF.
VIXY has a market cap of $155.03 million. This is considered a Micro Cap stock.
In the last 3 years, VIXY stock traded as high as $204.40 and as low as $12.68.
VIXY has underperformed the market in the last year with a price return of -74.7% while the SPY ETF gained +33.9%. VIXY has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -21.4% and -6.4%, respectively, while the SPY returned +10.3% and +1.5%, respectively.
VIXY support price is $12.58 and resistance is $13.28 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that VIXY stock will trade within this expected range on the day.