Notice how it trades higher while the market is putting in higher lows (nov - feb). When the market finally sells off (which it probably won't, EVER. cause it's all a big joke) these ETFs will have a fire underneath them, and out perform just about everything out there.
Not big on volatility but its the only fund with range as the market sells, atleast until the down trend is confirmed and the demand really picks up for all the bear etfs.
But to contradict you a little, it's not EXACT opposite. It tracks the VIX/VIX futures, which are based on S&P options. Usually when the market sells off volatility picks up, however, if the trend is up, funds that track volatility will continue to approach 0. It's not a perfect match by any means, and if all you do is hold it (TVIX) you're going to get killed.
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