Definition. Glassnode Skew Index Ratio is a scale-free gauge of call-versus-put dominance, defined as Upside IV divided by Downside IV across fixed tenors.

Interpretation. Values above 1 indicate richer upside, values below 1 indicate richer downside. It complements the Glassnode Skew Index (difference) by normalizing out the absolute volatility level.

Notes. For further details, see Measuring Market Asymmetry: The Glassnode Skew Index.