With the markets continuing to soar, the CBOE Volatility Index, better known as the Fear Index, touched its lowest level in six months on Friday. The index hit an intrasession low at 11.95 on Friday, marking the lowest it had been since October 3.
The Fear Index spiked above 36 back in December amid a brutal selloff at the end of 2018, culminating on Christmas Eve. But since that point, it has declined by a whopping 67 percent.
It's not surprising that the Fear Index generally declines when the markets are doing well. The recent dip comes as the Dow Jones Industrial Average, the S&P 500 index and the Nasdaq Composite Index are on the verge of setting all-time record highs.
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