Internationell Diversifiering - En studie om korrelationsmönster mellan tillväxtmarknader och utvecklade marknader
Internationell diversifieringAktiemarknadFinansiella marknaderTillväxtmarknaderUtvecklade marknaderKorrelationRegressionRiskreduceringIT-krisFinanskris.
Purpose: We have three purposes that will answer our problem questions. Our first purpose is to identify how diversification effects for investors changed between emerging markets and developed markets in the period 1996-2010. Our second purpose is to examine the two crises, IT and financial crisis, and if the correlations between these two crises have changed. Our third purpose is to examine to what extent the Swedish stock market was influenced by other markets in the period 1996-2010, the IT and financial crisis.Methodology: The method is based on an analytic model consisting of two tools; Regression- and Correlation analysis. The Regression analysis will be used when investigating if a change in a foreign stock market affects a change on the Swedish stock market. The Correlation analysis is used when studying the correlation pattern between emerging and developed markets.Theoretical perspectives: We´ve chosen to use theories such as global integration, international diversification, risk reducing and theories how explain correlation patterns in financial crisis.Conclusion: We state that correlation pattern varies between emerging and developed markets. Our result indicates that India and South Africa has the lowest correlation in the relation to the developed markets. When studying if a change in a foreign stock market affects a change on the Swedish stock market, we found strong evidence stating that the British stock market (FTSE) has the greatest impact among the studied stock markets.