Additionally, Wilkinson believes investors are also positioning for lower volatility in the coming months. The 30-day implied volatility on RSX jumped to a multi-year high of 76.43% Tuesday but was down to 71.48% Thursday.
Russian equities have been strengthening off the Tuesday low on a rebound in oil prices. Additionally, some are jumping on Russia markets for their cheap valuations. For instance, RSX shows a price-to-earnings ratio of 6.8 and a price-to-book of 0.9%. In contrast, the S&P 500 index has a 17.1 P/E and a 2.4 P/B. [Tom Lydon Talks Opportunity With Russia ETFs on CNBC]
Market Vectors Russia ETF
For more information on Russia, visit our Russia category.
Max Chen contributed to this article.