vix_term_ratio

VIX divided by VIX3M. BELOW 1 IS CONTANGO - the normal curve, three-month vol dearer than one-month. ABOVE 1 IS BACKWARDATION, which is what stress looks like. The index-level twin of the per-symbol iv_term_slope_30_90.

ratioRESTATEDcore.macro_observationsn_min 20export restricted — hover for the licence

value

0.8976

1y percentile

69.5%

3y percentile

60.2%

all percentile

57.6%

robust z

0.20

rank 1y

44.7%

4274

Last observed 2026-09-16, 1 day before 2026-09-17. The value is carried forward; it is not a reading for 2026-09-17.

0.89762026-09-16

2025-09-04260 obs2026-09-16

Every market at 2026-09-17

1 of 1 with a reading on or before 2026-09-17; 1 carried forward from an earlier day (marked). Each row is that name against its own history — core.metric_context(), one query for all of them — not a rank among them.

market	value	1y pct ↑	3y pct	1y rank	robust z	n
US	0.89761d	69.5%	60.2%	44.7%	0.20	4274

Provenance

Source: core.macro_observations
Cadence: daily, Cboe sessions, the morning after
Read by: the regime view's volatility term-structure sign (DESIGN.md:147) and Page 5's contango/backwardation state for the index itself
Point-in-time: RESTATED — values change as corporate actions arrive. Each row's vintage_ts records when it was computed.
Export restriction: INHERITED FROM core.macro_observations' cboe_indices SourceSpec: Cboe index values are Cboe's market data, its redistribution terms have not been reviewed, and the ADR-0014 fail-closed default applies until someone reads them. A ratio of restricted values is still restricted.