An increase in uncertainty about the expected short-term course of the Greek market, compared to the end of the previous month, with fluctuations within the month, is reflected in the evolution of the KEPE's fear index.

It is noted that the average daily value of the index decreased, reaching 23.99% in January 2025 from 24.88% in December 2024. The index remained at a level lower than its historical average (since January 2004) for the Greek market, which stands at 32.00%.

The KEPE GRIV implied volatility index, or "fear" index captures the uncertainty of derivatives market participants about the expected short-term performance of the Greek market and is calculated on the basis of the option prices of the FTSE/X.A. Large Cap index.

The price of the KEPE GRIV index increased in January 2025, reaching 23.51% on 31/1/2025 from 20.51% on 31/12/2024.