VIX Risk Z-score

The CandelaCharts - VIX Risk Z-Score is a robust volatility-based macro indicator that measures the relative stress of the broader market by analyzing the CBOE Volatility Index (VIX).

The VIX is often referred to as the "fear gauge," representing market expectations for near-term volatility. By applying a rolling statistical Z-Score to the VIX, this indicator normalizes volatility regimes, stripping away absolute numerical noise to tell you precisely when market fear is historically overextended (capitulation) or dangerously suppressed (complacency).