4 ETFs For Hedging Portfolio Risk In The GameStop Marketplace The markets have turned volatile in the past week. Here's how to protect yourself. Author: Jan 29, 2021 The events of this past week during the Reddit/RobinHood/GameStop/Hedge fund free-for-all are highlighting the risks that volatility brings to the table. This is obvious looking at the weekly charts for GameStop, Express, BlackBerry, AMC and others targeted by the WallStreetBets message board, but volatility risk is spreading into the broader market as well. VIX Volatility Index This is the chart of the VIX over most of January. It's gone from the relatively tame territory of just over 20 to the mid-30s in just a handful of trading days. That 32-34 range is where the risk of a sharper downturn in risk assets starts to rise.