U.S. Market Watches Correlation As VIX Creeps Up – And Stays Up

​The Cboe Volatility Index has been gathering steam for two consecutive days, breaking with a pattern established over the last couple of years of sudden jumps higher that were equally quickly stifled by volatility sellers. But rather than jumping in to hedge or monetize hedges, market players seem to be staying on the sidelines, made leery by still-low correlation.