RT Journal Article SR Electronic T1 The VIX Index as a Market Signal and Hedging and Asset Allocation Tool JF ETFs and Indexing FD Institutional Investor Journals SP 40 OP 49 VO 2004 IS 1 A1 Matthew T. Moran YR 2004 UL http://guides.pm-research.com/content/2004/1/40.abstract AB Is volatility the “perfect asset” to add to an equity portfolio? Has the CBOE Volatility Index (VIX) been a useful market signal and guide to future market direction? Does the VIX Index have the potential to be a powerful tool in investors' asset allocation and hedging decisions? Some recent literature has explored these issues, and this article will provide some evidence to help readers answer these questions.