US Elections — Fear and Uncertainty as reflected in the CVX index

CVX analysis — November 3rd, 2020

As the US elections are coming to their peak, CVX is steadily increasing since mid-October, reflecting more volatility in the markets. while yesterday the index jumped by more than 18% and reached its highest point in the last 2 months — surpassing 73 points.

The steady increase is a result of the increase in implied volatility which can be explained, among other factors, by the uncertainty of the investors in the US elections results. It is interesting to note this behavior in the past few days is similar to the CBOE VIX:

source: yahoo!finance

We can also see that the increase was in line with the bitcoin price: while BTC has changed directions and started to fall yesterday, CVX is still climbing, hence performing as a hedge to the BTC.

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