# Contango Slope Index A normalized measure of the VIX futures term structure slope, the Contango Slope Index quantifies the rate of change between front-month and second-month VIX futures. It identifies shifts between backwardation (fear) and contango (complacency), serving as a leading indicator for volatility regime transitions. Values below zero signal elevated near-term risk aversion, while values above 0.0232%/year indicate stretched complacency. When combined with price structure metrics like the Dip Index, the CSI improves the timing and reliability of macro-technical signals. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.candelacharts.com/investing/risk-and-portfolio-management/contango-slope-index.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.