Any inversely related Futures products to trade?

I’ve noticed all the micro futures charts look pretty much the same. After pulling up charts of a recent trading day (Friday, Sept 6, 2024) I noticed whether its an index future (i.e NQ, ES) – both looked similar (both index futures being bearish with similar patterns) and the index futures charts even looked the same to all other charts whether it’s commodities like copper, gold, etc. I was expecting Gold or Bond Futures charts to have opposing looking charts to the index futures, but didn’t notice much difference.

Anyone know of inversely correlated futures (micro or even e-mini’s), so if we see a bullish trend in one of the index futures charts for example, we can possibly expect the other futures product chart to be bearish and trade that on the bearish side or vice versa?

 

interest rates

 

CBOE Volatility Index (VIX) appears roughly inversely correlated to stock indexes.

 

You want a correlation matrix like the one below:

Code:

https://medium.com/zungybungy/futures-markets-correlation-c8ed8f4d5e7c

Bear in mind that those correlations change over time, so you have to calculate them everyday.

The CME group has a web tool here:

https://www.cmegroup.com/tools-information/quikstrike/cross-correlation.html

 

although vix is tradable, i think it is more an indicator, not an asset.

 

Yes VIX is a good example of inverse correlation to the index futures, but can we trade VIX futures or only trade vIX via ETF like VXX or options on VIX futures? It would be nice if there was a vix futures product to trade, but don't believe there is?

 

Nice to see this matrix - thx

 

Is the darkest shade of blue in this chart indicating the most neg. correlation?

 

Correlations go in a range as [-1, 1]

A symbol that is correlated to itself (perfect correlation) would have a value of 1.
The closer to -1 the more uncorrelated it is.

 

Yes, thanks for confirming