Drop In RVX Points To A Possible Consolidation For Russell 2000
The Russell 2000 Volatility Index (RVX) has recently fallen below the 17 percent level for the seventh time this year, and according to Citi analyst Scott Chronert, that means the Russell 2000 Index (RUT) should see a small consolidation after dropping earlier this month. He’s found that the indices are clearly negatively correlated and that investors should focus on time frames and magnitude of the correlation.
“The Russell 2000 Volatility index, RVX, has breached the 17 percent level seven times thus far during 2013, including the past week . . .
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