Stat of the Day: Average Daily Return on Up Days…..

We thought this is an interesting statistic.   Of the major equity markets we track, the Brazilian Bovespa ranks número um in terms of the average daily return on up days.  We need to do further work on this,  controlling for the number of observations, for example.   The Bovespa data range is from early 1993, whereas the S&P500 data series begins in 1950.  Nevertheless,  just looking at the the volatility of the up days and down exemplifies the definition of an  “emerging market.”   We will be posting further analysis of these data.  Stay tuned!

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