Country Ranking Model - November 2022
Source: MSCI
November Country Rankings
Norway (#1): Norway continues to lead our universe of 33 countries. Companies within the energy sector comprise over 1/3 of Norway’s market cap. Companies such as Equinor and Aker BP have benefitted from high oil and gas prices on the European continent this year.
Brazil (#2): Brazil has moved into second place on the back of improved momentum. Additionally, the country leads our universe in fundamentals. Earnings growth and ROE in particular are very attractive.
Chile (#3): Chile has consistently ranked in the top 3 this year. The country leads the world in copper production and while the metal has given back some of its massive price increase from last year, it remains at prices last seen in 2013.
Country Performance
Data as of 10.31.2022
Source: MSCI
Country Ranking Model
As of 10.31.2022
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