Vix Correlation with the indices is a risk off signal. Using a 90 day period, this correlation has built up with a high level. Looking at the last 3 years this has happened 4 times, each time before a major crash.
( I am also including the Sep 2020 crash, it did not go red but is still a valid signal IMO).
Yellow : FXI
Green : IWM
Purple : QQQ
Red : SPY
Blue : DIA
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( I am also including the Sep 2020 crash, it did not go red but is still a valid signal IMO).
Yellow : FXI
Green : IWM
Purple : QQQ
Red : SPY
Blue : DIA
Higher is higher risk.