Inverse VIX Short-Term Futures ETNs due March 22, 2045 (US48133Q4082) - Seasonality

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Inverse VIX Short-Term Futures ETNs due March 22, 2045 (US48133Q4082) - Seasonality

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Correlation

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Probability %	100%	100%	100%	50%	100%	100%	100%	100%	100%	100%	100%	100%
Average return %	-0.35%	-0.82%	-4.72%	-0.17%	+3.79%	+2.28%	+1.79%	+3.17%	+2.04%	-0.37%	+1.37%	+3.74%
2026	-0.35%	-0.82%	-4.72%	+5.63%	+3.34%	+1.93%	+0.98%	+3.07%	+0.45%	--	--	--
2025	--	--	--	-5.96%	+4.24%	+2.63%	+2.60%	+3.28%	+2.04%	-0.37%	+1.37%	+3.74%

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