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Markets have tumbled over the last four days, bringing the recent late-summer comeback into doubt. The VIX is just now catching up to The VIX, and only sort of. Digging in : Thirty is considered a high benchmark for The VIX. Volatility Index floated around 20 and below — which would indicate less volatility — for most of August. Volatility Index hit 25 on Wednesday. In theory, if Volatility Index were to predict future market moves, Volatility Index would have risen that high ahead of last week's selloff, Scott Bauer, CEO of Prosper Trading Academy who worked for 15 years as a market maker at the CBOE, told me.Cliff Asness of AQR Capital Management agrees that Volatility Index has limited utility :.