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StressSignal Risk Desk

VIX, VXN and RVX: what each one sees

Use them to see whether risk is tech-specific, small-cap-led, or broad.

VIXVXNRVXsector sensitivity

They are all equity volatility gauges, but they watch different parts of the market.

Published January 12, 2026Updated January 12, 2026StressSignal editors

1. Bottom line

VIX watches broad large-cap equity risk, VXN is more tech/growth sensitive, and RVX is more small-cap sensitive.

2. How to read them

  • VXN leads: tech may be the pressure point.
  • RVX leads: small caps and risk appetite matter.
  • All rise: equity risk is spreading.

VIX alone vs cross-checking

IndicatorVIX aloneCross-check
VIXRisingRising
RVXUnclearRising too
STLFSI4Not confirmedRising
NFCILoose or stableTightening

Disclaimer: this page is for market observation only, not investment advice. Risk note: indicators help you observe market conditions. They are not trading advice. Always add context, events, and position risk.

In this note

  1. 1Bottom line
  2. 2How to read them

Related indicators

VIXVIX/VXV Term ProxyRVXSTLFSI4NFCI

Related notes

How to read VIX and VIX3MView the cross-check →STLFSI4 and NFCIView the cross-check →