Is there a power law in the Brazilian stock market index? Evidence from 2017-2022
DOI:
https://doi.org/10.31501/rbee.v23i1.14480Abstract
Financial markets are complex systems, which can be studied under the lens of econophysics, including the study of phenomena such as power laws. We test the hypothesis of a power law in Ibovespa, the main Brazilian stock market index, and cannot dismiss the hypothesis that its stocks are distributed following a power law. This is most interesting, as these stocks are ordered by individual trading volumes, thus a similar pattern always emerges organically even though companies are always exchanging positions and being excluded or added to the index.
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