COMPARATIVO DE LA VOLATILIDAD TRIMESTRAL DEL ÍNDICE COLCAP EN EL PERIODO 2012-2017. (Spanish)

COMPARISON OF THE QUARTERLY VOLATILITY OF THE COLCAP INDEX IN THE PERIOD 2012-2017. (English)

The Stock Market in Colombia is managed by the Colombian Stock Exchange, which evaluates the behavior of the market through financial indicators, among which is the COLCAP index, that measures the movement of the price of the most liquid shares in the market. This indicator is updated on a quarterly basis, both in the actions that comprise it and in the corresponding participation of each of them, so that it is important to compare the variation of that index from one quarter to another, and thus determine if there is significant evidence in the difference between the quarterly index variations. To carry out this study, index information is taken in the period from the 1st February 2012 to the 31st of January 2017 and the data is analyzed applying the simple variance analysis model or an only factor based on the initial hypothesis that the average volatility of period 1 is equal to the other three remaining periods, a result that shows that there is not enough statistical evidence to reject this hypothesis. [ABSTRACT FROM AUTHOR]

El Mercado Bursátil en Colombia se encuentra administrado por la Bolsa de Valores de Colombia, la cual evalúa el comportamiento del mercado a través de indicadores financieros, entre los cuales se encuentra el índice COLCAP que mide el movimiento del precio de las acciones más liquidas en el mercado. Este indicador se actualiza de manera trimestral, tanto en las acciones que lo conforman como en la participación correspondiente de cada una de ellas, de modo que es importante comparar la variación de dicho índice de un trimestre a otro, y así determinar si existe evidencia significativa en la diferencia entre las variaciones trimestrales del índice. Para realizar este estudio se toma información del índice en el periodo comprendido desde el 1 de febrero de 2012 al 31 de enero de 2017 y se analizan los datos, aplicando el modelo de análisis de varianza simple o de un solo factor, partiendo de la hipótesis inicial de que la media de la volatilidad del periodo 1 es igual a los otros tres periodos restantes, resultado que muestra que no existe suficiente evidencia estadística para rechazar esta hipótesis. [ABSTRACT FROM AUTHOR]

Copyright of CLIO América is the property of Universidad del Magdalena and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)