| Jodie M. Gunzberg, vice president at S&P Dow Jones Indices, wrote an interesting piece in the S&P Dow Jones Indices blog, Indexology. The blog is titled "Fear Gauge Spikes: Let's Play Hot Potato" and in it Gunzberg tries to answer a number of questions, but the basic question is: why have commodities reacted differently to spikes in the Chicago Board Options Volatility Index (VIX), or fear gauge, as Gunzberg refers to it, since the credit crisis of 2008 than they did to spikes in the VIX pre-2008.
The reference to the VIX itself is a bit of subterfuge in my opinion because basically what she is describing though avoiding saying explicitly is that commodities markets in general and the S&P GSCI in particular has become increasingly correlated to the S&P 500 since 2008..............................................Full Article: Source
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