{"slug":"soxl-and-soxs-volatility-decay","qid":"trend_months","label":"trend_months","post_title":"soxl-and-soxs-volatility-decay","post_url":"/blog/lang/ja/soxl-and-soxs-volatility-decay#q-trend_months","columns":["label","index_pct","three_x_pct","soxl_pct","soxl_gap_pct"],"rows":[{"label":"2026年4月","index_pct":40.4,"three_x_pct":121.2,"soxl_pct":165,"soxl_gap_pct":43.8},{"label":"2026年5月","index_pct":23.3,"three_x_pct":70,"soxl_pct":76.7,"soxl_gap_pct":6.7},{"label":"2025年6月","index_pct":16.5,"three_x_pct":49.4,"soxl_pct":55.3,"soxl_gap_pct":5.9},{"label":"2023年11月","index_pct":16.1,"three_x_pct":48.3,"soxl_pct":53.1,"soxl_gap_pct":4.8},{"label":"2025年9月","index_pct":10.5,"three_x_pct":31.6,"soxl_pct":33.8,"soxl_gap_pct":2.2},{"label":"2023年1月","index_pct":16,"three_x_pct":48,"soxl_pct":50.2,"soxl_gap_pct":2.1},{"label":"2026年1月","index_pct":15,"three_x_pct":45,"soxl_pct":47,"soxl_gap_pct":2},{"label":"2022年7月","index_pct":16.5,"three_x_pct":49.5,"soxl_pct":51.4,"soxl_gap_pct":1.8},{"label":"2023年5月","index_pct":15.7,"three_x_pct":47,"soxl_pct":48.6,"soxl_gap_pct":1.6},{"label":"2023年12月","index_pct":12.2,"three_x_pct":36.5,"soxl_pct":37.7,"soxl_gap_pct":1.2},{"label":"2024年2月","index_pct":11.3,"three_x_pct":33.8,"soxl_pct":33.5,"soxl_gap_pct":-0.3},{"label":"2023年3月","index_pct":8.5,"three_x_pct":25.5,"soxl_pct":24.9,"soxl_gap_pct":-0.6},{"label":"2024年5月","index_pct":9.4,"three_x_pct":28.1,"soxl_pct":27.3,"soxl_gap_pct":-0.8},{"label":"2025年5月","index_pct":11.5,"three_x_pct":34.4,"soxl_pct":33,"soxl_gap_pct":-1.5},{"label":"2022年11月","index_pct":18.9,"three_x_pct":56.6,"soxl_pct":54.9,"soxl_gap_pct":-1.6},{"label":"2025年10月","index_pct":13.1,"three_x_pct":39.2,"soxl_pct":37.1,"soxl_gap_pct":-2.1},{"label":"2026年6月","index_pct":12.6,"three_x_pct":37.8,"soxl_pct":18.9,"soxl_gap_pct":-18.9}],"shape":"table","sql":"WITH\ndaily AS\n(\n    SELECT\n        ticker,\n        date,\n        anyLast(toFloat64(close)) AS c\n    FROM global_markets.stocks_daily_aggs\n    WHERE ticker IN ('SOXX', 'SOXL', 'SOXS')\n      AND date >= '2021-12-15'\n      AND date <  '2026-09-01'\n    GROUP BY ticker, date\n),\nlagged AS\n(\n    SELECT\n        ticker,\n        date,\n        c,\n        lagInFrame(c, 1) OVER (PARTITION BY ticker ORDER BY date ROWS BETWEEN UNBOUNDED PRECEDING AND UNBOUNDED FOLLOWING) AS prev_c\n    FROM daily\n),\nrets AS\n(\n    SELECT\n        ticker,\n        date,\n        c / prev_c - 1 AS r\n    FROM lagged\n    WHERE prev_c > 0\n      AND abs(c / prev_c - 1) < 0.75\n      AND date >= '2022-01-01'\n      AND (ticker, date) NOT IN\n      (\n          SELECT ticker, toDate(execution_date)\n          FROM global_markets.stocks_splits\n          WHERE ticker IN ('SOXX', 'SOXL', 'SOXS')\n      )\n),\nmonthly AS\n(\n    SELECT\n        toStartOfMonth(date)                        AS m,\n        exp(sumIf(log(1 + r), ticker = 'SOXX')) - 1 AS soxx,\n        exp(sumIf(log(1 + r), ticker = 'SOXL')) - 1 AS soxl,\n        exp(sumIf(log(1 + r), ticker = 'SOXS')) - 1 AS soxs\n    FROM rets\n    GROUP BY m\n    HAVING countIf(ticker = 'SOXX') >= 15\n       AND countIf(ticker = 'SOXL') >= 15\n       AND countIf(ticker = 'SOXS') >= 15\n)\nSELECT\n    concat(toString(toYear(m)), '年', toString(toMonth(m)), '月') AS label,\n    round(soxx * 100, 1)                                        AS index_pct,\n    round(soxx * 300, 1)                                        AS three_x_pct,\n    round(soxl * 100, 1)                                        AS soxl_pct,\n    round((soxl - 3 * soxx) * 100, 1)                           AS soxl_gap_pct\nFROM monthly\nWHERE soxx > 0.08\nORDER BY soxl_gap_pct DESC","computed_at":"2026-09-16T14:56:45.763494+00:00","elapsed":0.003055434}