When an Index Becomes a Security

Update A comment on this post from “~”, writer of the Volatility Futures and Options blog, revealed that in this post I made the mistake of assuming that correlation meant causation in analysing the data—a danger I warn against in Patterns, Predictions, and the Correlation Fairy.   It’s too bad, it was a fun story.  I’m not beating myself up about it, but it illustrates the …

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