Stress concentration

MOVE/VIX (rates-vol vs equity-vol), OVX/VIX (oil), GVZ/VIX (gold) — which corner of the market is carrying the volatility right now.

How Each non-equity implied-vol index divided by VIX.Formula MOVE/VIX, OVX/VIX, GVZ/VIXSource Cboe, ICE via Yahoo Finance — computed

How to read Read where stress is concentrated — 'rates vol is rich vs equity vol right now'. A present-state ratio, not a signal.

DESCRIPTIVE co-movement. OVX and VIX are cointegrated and the complex tends to move together in distress — but this describes the present, it does not forecast.

The average pairwise 60-day realized correlation of daily changes among VIX, MOVE, OVX and GVZ — how tightly the whole vol complex is co-moving.

How Mean of the rolling 60-day Pearson correlations across the four vol indices' daily changes.Formula mean( ρ_60d(ΔX_i, ΔX_j) ) over index pairsSource Cboe, ICE via Yahoo Finance — computed

How to read Toward 1 = the complex is moving together (a broad-stress signature); near 0 = idiosyncratic. A present-state co-movement read.

🚨 A realized correlation on raw observables — NOT a regime-switching classifier (the Markov-switching method was refuted as non-observable) and NOT a forecast.