As geopolitical risk spikes, a major index gets a revamp
Geovol risk gauge built by Nobel laureate Robert Engle to become Global Covol
From Kyiv to Kansas, geopolitical risk is spooking global markets – but Robert Engle is sanguine. The NYU Stern Volatility and Risk Institute, which the Nobel Prize-winning economist co-directs, is renaming its index for geopolitical risk, Geovol, which measures the volatilities of assets when exposed to an exogenous global shock. Henceforth, the index will become Global Covol (Common Volatility)
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