Volatility and Chaos are calibrated to the most disruptive event to date, the 1987 crash.

All other events are measured on a scale of 0 to 1 for Volatility and -1 to 1 for Chaos, with 1 and +/-1 being the 1987 crash, or until the next mega event comes to recalibrate the scales.

Chaos is a measure of balance between gain, 1 and loss, -1.

Volatility is pure magnitude; low change near 0 and high change near 1.

Simply put, Volatility and Chaos is kin to Magnitude and Direction, a kind of vector, if you would see it.