根据TradingView的数据，下图展示了2017年至2025年7月恐慌指数VIX的走势及每年的平均值。VIX使用标普500指数期权的价格来衡量预期的股市波动性。VIX读数为20意味着市场预期未来30天内标普500指数的每日波动率(上涨或下跌)约为1.25%。
如图所示，在2020年新冠疫情爆发时，VIX一度飙升至85.5的高位，意味着市场预期标普500指数每日波动率可能高达5.4%。而2020年VIX平均值为29.3，为过去八年中最高水平。
至于2025年，VIX在美国总统特朗普在4月宣布“对等关税”时一度触及至60.1的高位。此后，波动率逐渐下降，目前为16.6，这意味着市场预期未来30天股市每日波动率为1.05%。
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