Dec. 5 at 10:22 PM
$UVIX mmemba vix can go to 9……UVIX is strongly correlated with the VIX, but it's not a direct 1:1 match because UVIX is a 2x leveraged ETF that tracks VIX futures (specifically the Long VIX Futures Index), not the VIX spot price itself, meaning it amplifies daily VIX movements and is subject to futures curve dynamics (contango/backwardation) and daily resets, making it a volatile, short-term tool. A high positive correlation (around 0.88) means they generally move in the same direction