A new stock market index has been created to measure chaos in the market by looking at how asset prices change together. This index uses a unique method that doesn't rely on traditional weighting assumptions. It accurately estimates market volatility and helps segment the market reliably. By studying data from 1990 to 2019, it was found that there is a strong relationship between the actual market volatility and the expected volatility, with the latter having a bigger impact on the former. This means that expected volatility is crucial in understanding how the market behaves.