“Fear” Index Fell in Greece, KEPE Report Says

ATHENS – Αn effective management of the coronavirus pandemic in Greece has helped reduce uncertainty in the Greek market, the Centre of Planning and Economic Research (KEPE) said in a report released on Tuesday.

KEPE said its GRIV implied volatility index, or the 'Fear' index, reflects the uncertainty of the derivatives market participants regarding the expected short-term course of the Greek market and is calculated based on the FTSE/Athex Large Cap Index options prices.

The KEPE GRIV index reached 32.66 pct on 30/4/2020 from 48.94 pct on 31/3/2020. The significant decrease of the index reflects the reduction of uncertainty in the Greek market associated with the effective management of the coronavirus pandemic in Greece.

The index returned close to its historical average level (since January 2004) for the Greek market, which stands at 33.30 pct. Moreover, the average daily value of the index decreased in April 2020 to 39.42 pct from 42.57 pct in March 2020.


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