Tag Archives: DSPX
2026 Is the Year of the Stock Picker?
Recent market commentary has declared that 2025 was a brutal year for stock picking, with USD 1 trillion pulled out of active equity mutual funds during the year, according to the Investment Company Institute. The year was characterized by sharp double-digit swings for the S&P 500®, and in such environments filled with bouts of volatility,…
- Categories Equities, S&P 500 & DJIA
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- Equities, S&P 500 & DJIA
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Stock Pickers: Lights, Camera, Anticlimax?
U.S. equities have been whipsawed by tariff fears in the past couple of months, and particularly over the past week, with sharp double-digit swings for the S&P 500®. The index’s slide into correction territory has coincided with a rise in implied volatility, with VIX® rising briefly above the 50-point handle. In environments characterized by both…
- Categories Equities, S&P 500 & DJIA
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- Equities, S&P 500 & DJIA
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The Market Measure: February 2025
Which sectors are driving market performance, and could dispersion levels signal potential opportunities? Explore global markets, sectors, and yields across the dividend spectrum.
Shifting Tides: Concentration, Dispersion and the S&P 500 Risk Landscape
Since the 2010s, the dynamics of large-cap U.S. equity risks have shifted. Fifteen years ago, the market was dominated by cycles alternating between risk-taking and risk aversion, often referred to as a “risk-on/risk-off” dynamic. A key feature of this period was the higher correlation between stock and sector performance, especially during market downturns. Exhibit 1…
- Categories Equities, S&P 500 & DJIA
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Dispersion at All-Time High Relative to Volatility as Earnings Season Arrives
Despite a recent uptick to a more normal level near 16, the Cboe Volatility Index (VIX®) has averaged around just 12.8 over the past 30 trading days as of July 18, indicating relative calm in U.S. equities. Meanwhile, a complementary measure of U.S. equity market risk, the CBOE S&P 500® Dispersion Index (DSPX), has surged…
- Categories Equities
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- Equities
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Tracking Potential Opportunities with Dispersion
Is it possible to track opportunity with an index? Find out as S&P DJI’s Tim Edwards and Cboe’s Mandy Xu discuss the design of and practical applications for the Cboe S&P 500 Dispersion Index.
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Introducing the Dispersion Index (DSPX)
At 9:45 am Eastern Time on Sept. 27, 2023, a new index began publishing under the ticker DSPXSM, with an initial live value of 26.81. This index, the Cboe S&P 500® Dispersion Index (the Dispersion Index to its friends), might be loosely described as a “VIX® for dispersion.” But what is it? Why is it…
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