TY - JOUR T1 - The VIX Index as a Market Signal and Hedging and Asset Allocation Tool JF - ETFs and Indexing SP - 40 LP - 49 VL - 2004 IS - 1 AU - Matthew T. Moran Y1 - 2004/09/21 UR - http://guides.pm-research.com/content/2004/1/40.abstract N2 - 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. ER -