> For the complete documentation index, see [llms.txt](https://docs.candelacharts.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.candelacharts.com/investing/risk-and-portfolio-management/vix-risk-z-score/overview.md).
# Overview
VIX Risk Z-score Quick Specs
Rather than trading off the raw value of the VIX, the VIX Risk Z-Score evaluates how far the current VIX reading has deviated from its long-term average. It calculates this deviation in terms of standard deviations (Z-Scores).
{% content-ref url="/pages/PGJvRMEVMCoMtPdVOZF5" %}
[Features](/investing/risk-and-portfolio-management/vix-risk-z-score/features.md)
{% endcontent-ref %}
{% content-ref url="/pages/vcwCqmfeTIAMy5QvRLzT" %}
[Usage](/investing/risk-and-portfolio-management/vix-risk-z-score/usage.md)
{% endcontent-ref %}
{% content-ref url="/pages/6bOkxXV6XDeyFdu4BCaf" %}
[Confluences](/investing/risk-and-portfolio-management/vix-risk-z-score/confluences.md)
{% endcontent-ref %}
{% content-ref url="/pages/SiiVSr1qXspAYDQ1hMQE" %}
[FAQs](/investing/risk-and-portfolio-management/vix-risk-z-score/faqs.md)
{% endcontent-ref %}
When the VIX spikes violently, driving the Z-Score above the upper threshold, it signals extreme market panic and fear. Paradoxically, these moments of peak fear often align with major structural market bottoms. Conversely, when the VIX grinds lower for an extended period, pushing the Z-Score into deep negative territory, it signals maximum market complacency—a warning sign that risk is underpriced and a sudden shock could be imminent.
---
# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.
## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation by asking a question.
Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters:
```
GET https://docs.candelacharts.com/investing/risk-and-portfolio-management/vix-risk-z-score/overview.md?ask=&goal=
```
`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case.
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.
