By no means, a sole comparison of an asset price relative to the past should tell you whether it is at a premium/discount
In case you want to compare the dollar index and the volatility index to 2008, here it is (% change relative to previous end of year)
If something is worth noting from here is the <.VIX> following a typical summer to fall pattern. Usually, we tend to see lows of the year in vol during the summer months, this is followed by an upside move into the Fall and extends into end of year.
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