Factors & regimes
Factor and sector ETF performance against the S&P 500, and a volatility regime read from Cboe's VIX indices
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CBOE SKEW index
Measures tail-risk hedging demand. Bars rise from 100, a normal tail; 5-day MA smooths daily noise.
Factor performance
Rolling returns for major factor ETFs, shaded by the return shown. Hover a cell for its return vs the S&P 500.
| Factor | Price | 1 Week | 1 Month | 3 Months | 6 Months | 12 Months |
|---|
Sector rotation heatmap
Each sector's return minus the S&P 500's, in percentage points: above zero is ahead of the market. Hover a cell for the sector's own return.
| Sector | 1 Week | 1 Month | 3 Months | 6 Months | 12 Months |
|---|
VIX & volatility regime
Spot VIX, and the term structure from Cboe's own indices: ^VIX3M (3-month) above ^VIX (30-day) is contango (calm), below is backwardation (stress). ^VIX9D shows the short end.
Factor relative strength, indexed to 100
Each factor ETF set to 100 at its first close in the window; the S&P 500 is dashed. The figure beside each name is its move since then.
Sentiment & volatility gauges
MOVE index (bond volatility)
ICE BofA MOVE: Treasury market implied volatility.
VIX / MOVE ratio
Equity volatility relative to bond volatility, times 100. A low ratio means bonds are pricing more risk than stocks.