Depressed by the bleak economic data, stocks on Wall Street traded lower, but CBOE Market Volatility Index (VIX) related exchange traded funds (ETFs) flourish on the economy’s misfortunes.

ProShares VIX Short-Term Futures (NYSEArca: VIXY) was up 6.2% and ProShares VIX Mid-Term Futures (NYSEArca: VIXM) was up 2.5% in today’s trading.

The VIX Index surged 16% during intra-day trading, shooting above its 50-day moving average. However, the index, trading at just under 18, still remains below its long-term average of around 20, which doesn’t indicate that investors are clamoring for protective S&P 500 options, according to The Wall Street Journal.

The current VIX level “suggests market psychology can withstand negative implications for economy,” remarks Jim Strugger, derivatives strategist at MKM Partners.

For more information on the VIX, visit our VIX category.

ProShares VIX Short-Term Futures

Max Chen contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.