VIX Futures Prices: SCVIX aims to provide daily inverse exposure to short-term VIX futures. Therefore, changes in VIX futures prices, particularly the front-month contracts, directly influence SCVIX's value; When VIX futures rise, SCVIX typically declines, and vice versa.

Market Volatility: Heightened market volatility, often reflected in rising VIX futures prices, generally leads to a decrease in SCVIX value, as it is designed to move inversely to volatility expectations.

VIX Index Level: While SCVIX is tied to VIX futures, the level of the VIX index itself can indirectly affect SCVIX. Significant VIX spikes can trigger increased demand for VIX futures, impacting their prices and subsequently affecting SCVIX.

Roll Yield: SCVIX's performance is affected by the roll yield associated with VIX futures contracts. "Roll yield" refers to the profit or loss realized when a futures contract is rolled over to a later expiration date; A negative roll yield (contango) will erode SCVIX's value over time.

Supply and Demand: Basic supply and demand principles for SCVIX shares themselves can influence its price in the short term, although this effect is typically less significant than the impact of VIX futures prices.