Asymmetric volatility and tail risk analysis across markets
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Understanding Vol Skew:
Markets don't move symmetrically. When downside volatility exceeds upside (negative skew),
crashes are sharper than rallies. Positive skew = bigger upside moves.
Negative skew = bigger downside moves.
High kurtosis = fat tails (extreme moves more likely than normal).
Use this to understand asymmetric risk and set appropriate stops/targets.