A long-term graph of the Vix hints at cyclicality, with periods of great choppiness in the early and late 1990s book-ending an era of relative calm in the middle of the decade.

• Vix的长期图像也暗示着周期性，1990s的早期和末期呈现大量的波浪，夹在中间的90年代中期却是一段相对平静的时期。