Hello Tano,

Easily explained. First, every time series is a living, breathing entity. So the numbers held for the day that I did the calculation. Second, and very much more important relative to your question. VIX is based on options prices that expire between 16 and 44 days. Whereas, the standard deviation that I used was for the entire time series of the S&P 500, from 1 January 1950 to the time of my calculation. That standard deviation is likely very different than that of VIX which is a short-term, and not very informative measure, in my opinion.

Yours, in service,

Jason