The CBOE Volatility Index — measures the market's expectation for S&P 500 volatility over the next 30 days. Known as the "fear gauge" of financial markets.
VIX is the most widely watched measure of market fear globally. It spikes during crises, drives option pricing, and determines risk budget for institutional investors.
Below 15 = calm. 15-20 = normal. 20-30 = elevated concern. 30-40 = significant stress. Above 40 = crisis (peaked at 89 in March 2020). Our engine uses VIX as a primary stress input.