QUANTITATIVE ANALYSIS

How Close Russian Stock Market and Global Energy Sector Are Correlated?

Friday, June 27, 2008, 10:34 AM ET

Oil and gas companies have the largest share (39.8%) in Market Vectors Russia ETF fund (RSX) holdings and Russian stock market. Share of oil revenues exceeded 60% in the export revenues of Russia in 2007. So it is obviously that the Russian stock market has strong correlation with the global energy sector.