Differentiating Risk From Volatility

July Newsletter | Differentiating risk from volatility. Low volatility has been a feature of financial markets of late. The US market has been particularly benign, with volatility at levels not seen since 2006. The S&P 500 has just gone through its longest period without a 1% move since 1995. Many investors see this as a sign of complacency. In the July edition of the Auscap newsletter, we distinguish between risk and volatility.