Yahoo finance has iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) listed with a 3 beta of -58.23 and a 5 year of 6.42. How does that work? The CBOE Volatility Index it appears to be based on has a beta of around -1.2, which makes sense, but why is this one so far off the mean? Is it just a complex or unique product?
Also not going to buy, just curious.
Leave a Reply