Macro
VIX volatility index chart
The VIX, published by Cboe, is an index measuring the market's expectation of S&P 500 volatility over the next 30 days, derived from the prices of S&P 500 index options. It is expressed in index points that are conventionally interpreted as an annualised percentage.
This chart displays CAPITALCOM:VIX, a Capital.com instrument that tracks the VIX index. The official Cboe VIX index itself is not available to free charting widgets, so this series is a proxy rather than the underlying index feed.
VIX volatility index chart
CAPITALCOM:VIXCapital.com volatility instrument tracking the VIX. The CBOE index itself is not available to free TradingView widgets.
Charts by TradingView. Switch instrument from the market charts hub or the related charts below — each one has its own page.
At a glance
| Full name | Cboe Volatility Index (tracked via a Capital.com proxy instrument) |
|---|---|
| Series code / ticker | VIX (official); CAPITALCOM:VIX (chart source) |
| TradingView symbol | CAPITALCOM:VIX |
| Instrument type | Index proxy instrument |
| Official publisher (underlying index) | Cboe Global Markets |
| Unit of measurement | Index points (interpreted as annualised expected volatility, %) |
| Publication frequency | Real-time during Cboe trading hours for the official index |
| Coverage | Expected 30-day volatility implied by S&P 500 index options |
| Revision policy | Not applicable; the proxy tracks live pricing rather than a periodically revised statistic |
| Data delay | Depends on the charting provider's feed; not sourced from Cboe's own real-time feed |
What is VIX volatility index?
The VIX is calculated from a weighted strip of S&P 500 index option prices across a range of strikes, converting the market price investors are willing to pay for options into an implied estimate of expected volatility over the coming 30 days.
It is not directly investable: there is no way to buy 'the VIX' itself. Tradable products such as VIX futures, options, and futures-based ETFs/ETNs approximate its movements but can diverge from the spot index, especially over longer holding periods. This chart uses a proxy instrument for the same reason.
How to read this chart
A rising VIX generally indicates that option markets are pricing in greater expected turbulence in US equities; a falling VIX indicates calmer expected conditions.
The VIX and the S&P 500 typically move inversely: sharp equity sell-offs are usually accompanied by VIX spikes, while steady equity gains are usually accompanied by a low or falling VIX.
Because it measures expected future volatility rather than a price level, the VIX has no natural upward trend over time the way an equity index does; it tends to fluctuate around a long-run range punctuated by sharp temporary spikes.
What moves it?
- Demand for equity option hedging
- Increased demand for protective S&P 500 put options, often ahead of perceived risk events, pushes option prices and therefore the VIX higher.
- Realised market volatility
- Recent actual swings in the S&P 500 influence how much volatility option sellers demand to be compensated for going forward.
- Macroeconomic and geopolitical event risk
- Scheduled events such as central bank decisions, elections, or unexpected geopolitical developments can raise expected volatility ahead of the event.
- Market liquidity conditions
- Thinner liquidity in option markets can exaggerate moves in the implied volatility priced into VIX-related contracts.
Why businesses and investors monitor it
Businesses and investors use the VIX as a general barometer of market stress and risk appetite, which can affect the cost and availability of hedging instruments and the pricing of options-linked products.
A sustained rise can coincide with tighter financial conditions more broadly, which is relevant context for corporate treasury and risk management decisions, though it is not a signal to buy or sell any security.
VIX vs the S&P 500
The VIX measures the market's expectation of future volatility, not the direction of prices; the S&P 500 is a price-return equity index measuring the level of the US large-cap stock market itself.
The two series typically show a strong inverse relationship — the VIX tends to rise sharply during equity declines and stay low during calm, rising markets — but the VIX says nothing about whether prices will move up or down, only how much they are expected to move.
Frequently asked questions
Can I invest directly in the VIX?
No. The VIX itself is a calculated index, not a tradable security. Investors seeking exposure typically use VIX futures, options, or futures-based exchange-traded products, which can behave differently from the spot index.
Why does this chart use a proxy instrument instead of the official Cboe VIX?
The official Cboe VIX index feed is not available to free charting widgets, so this page uses a comparable Capital.com instrument that tracks the same underlying measure.
Does a high VIX mean the market will fall?
A high VIX reflects elevated expected volatility, which can accompany moves in either direction; it is not a directional forecast.
Why does the VIX spike so suddenly sometimes?
Because it reflects live option pricing, unexpected news or sharp equity moves can cause rapid repricing of expected volatility, producing sudden spikes that often fade once conditions stabilise.
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Sources
Written and maintained by the StandardsDesk editorial team. Last reviewed 2026-08-06. The explanatory text on this page is evergreen: it is not updated with market movements, and no current price or level is quoted anywhere outside the chart.
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