I get a ton of questions on the $VIX. Here's a pretty good article on using VIX futures in order to hedge stock market risk.
Do VIX futures hedge stock market risk? - CBS News
CNBC.comDo VIX futures hedge stock market risk?CBS NewsThe reason for the growth of volatility-based ETPs is the perception that they offer a hedge against stock market losses. It's important to understand that the VIX is a forward (not historical) m ...