VelocityShares Daily 2x VIX ST ETN (TVIX)

[Paradiddle63]

According to history, the last time S&P was down more than 1% in a day was Dec 28, where the $VIX went up approx 7% and $TVIX went up around 8%. Today based on that track record, there's obviously no correlation between the two. Yes perhaps $TVIX has matured into its own playbook during the past couple of months particularly with the CS decision. But looking at the glass half full, perhaps it can spike up without the huge dependency on the $VIX's behaviour. (IMO)

However it does seem that the market is gravitating to a correction mode.