I recently ran into some explicit analysis on the correlation between daily volume, float and volatility but heck, I canât find it back. Next to measuring actual (realized) volatility this would be a proxy for âpotentialâ future volatility. Something like: small daily volume, even on high volume days, relative to the float, would indicate the ability to absorb most shocks and reduce the potential for wild swings and gaps. Makes sense, I do get the picture but was interested in some figures, percentages etc. of how this works out in practice. Any practical thoughts, examples, studies etc. would be highly appreciated. TIA.