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S&P 500 Typically Gains 18% In A Year After VIX Drops From 50 To 30 Level: Here's What Analysts Say

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The S&P 500 has given a 17.9% median return each time the CBOE Volatility Index has fallen from over 50 to the 30 level. Analysts highlight historical trends showing how volatility cycles lead to advances in the S&P 500 index.

What Happened: According to Jason Goepfert, a consultant at White Oak Consultancy LLC, each time the fear index, VIX, goes through a cycle of being above 50 to falling to the 30 level, the S&P 500 index logs in 100% of positive gains by the end of that year.

According to the data highlighted by Goepfert, during the most recent VIX cycle of 50-to-30 in May 2020, the S&P 500 returned 42.96% after one year.

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He highlighted data from similar such cycles from 2009, 2002, and 1988. However, historically, the S&P 500 logs a 0.7% median loss after the first week on ending the said 50-to-30 VIX cycle.


Meanwhile, Charlie Bilello of Creative Planning highlighted in his X post how the S&P 500 has reacted after VIX has closed above 50 since 1990.

On average, whenever the VIX has closed above 50, the S&P 500 has returned 35% over one year and 129% over the next five years.


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