Stock price volatility - Country rankings

* indicates monthly or quarterly data series

Stock price volatility, percent, 2021 - Country rankings:

The average for 2021 based on 87 countries was 20.14 percent.The highest value was in Venezuela: 60.53 percent and the lowest value was in Botswana: 2.75 percent. The indicator is available from 1984 to 2021. Below is a chart for all countries where data are available.

Measure: percent; Source: Global Financial Development Database
Select indicator
* indicates monthly or quarterly data series


Countries Stock price volatility, 2021 Global rank Available data
Venezuela 60.53 1 2018 - 2021
Argentina 47.05 2 1988 - 2021
Bermuda 34.86 3 1995 - 2021
Brazil 33.79 4 1991 - 2021
Namibia 32.67 5 2004 - 2021
Greece 31.83 6 1987 - 2021
Chile 29.75 7 1989 - 2021
Luxembourg 28.36 8 1999 - 2021
Austria 28.13 9 1986 - 2021
Philippines 27.07 10 1987 - 2021
Italy 26.72 11 1998 - 2021
Poland 26.57 12 1995 - 2021
Spain 26.47 13 1987 - 2021
Belgium 25.13 14 1997 - 2021
USA 24.99 15 1984 - 2021
Ireland 24.79 16 1987 - 2021
Turkey 24.64 17 1988 - 2021
France 24.62 18 1988 - 2021
Germany 24.38 19 1988 - 2021
Hungary 23.69 20 1991 - 2021
South Africa 23.37 21 1996 - 2021
Portugal 23.25 22 1988 - 2021
Thailand 23.2 23 1988 - 2021
Canada 22.87 24 1984 - 2021
Vietnam 22.5 25 2001 - 2021
Sweden 22.48 26 1987 - 2021
Sri Lanka 22.24 27 1985 - 2021
UK 22.02 28 1985 - 2021
Netherlands 21.87 29 1984 - 2021
Norway 21.87 30 1996 - 2021
Hong Kong 21.77 31 1984 - 2021
Indonesia 21.77 32 1984 - 2021
Australia 21.7 33 1984 - 2021
Israel 21.5 34 1992 - 2021
Egypt 21.44 35 1998 - 2021
Finland 21.05 36 1987 - 2021
Mexico 20.62 37 1994 - 2021
India 20.59 38 1984 - 2021
Ukraine 20.41 39 2003 - 2021
South Korea 20.18 40 1984 - 2021
Denmark 19.7 41 1990 - 2021
Mongolia 19.54 42 1999 - 2021
Czechia 19.46 43 1995 - 2021
Japan 19.26 44 1984 - 2021
Laos 18.88 45 2011 - 2021
Latvia 18.87 46 2000 - 2021
Iceland 18.55 47 1993 - 2021
Lebanon 18.53 48 1996 - 2021
Singapore 18.39 49 2000 - 2021
North Macedonia 18.36 50 2008 - 2021
China 18.24 51 1991 - 2021
Switzerland 18.23 52 1989 - 2021
Slovakia 18.22 53 1994 - 2021
Saudi Arabia 17.71 54 1994 - 2021
Pakistan 17.28 55 1999 - 2021
Kenya 17.09 56 2008 - 2021
Cyprus 17.01 57 2005 - 2021
Estonia 16.96 58 1997 - 2021
New Zealand 16.73 59 1992 - 2021
Mauritius 16.44 60 1994 - 2021
Bangladesh 16.34 61 2010 - 2021
Malaysia 16.13 62 1984 - 2021
Slovenia 15.96 63 2003 - 2021
Croatia 15.84 64 2003 - 2021
Nigeria 15.66 65 1998 - 2021
UA Emirates 15.6 66 1995 - 2021
Morocco 15.4 67 1994 - 2021
Peru 15.2 68 1990 - 2021
Jamaica 15.09 69 1990 - 2021
Bulgaria 14.99 70 2001 - 2021
Tanzania 14.39 71 2007 - 2021
Qatar 14.37 72 2007 - 2021
Ghana 14.01 73 2011 - 2021
Colombia 13.69 74 2002 - 2021
Malta 13.19 75 1998 - 2021
Bosnia & Herz. 13.12 76 2005 - 2021
Lithuania 12.77 77 2000 - 2021
Serbia 12.36 78 2006 - 2021
Russia 12.32 79 1995 - 2021
Kazakhstan 11.47 80 1996 - 2021
Bahrain 10.21 81 2005 - 2021
Jordan 9.49 82 2000 - 2021
Oman 9.42 83 1992 - 2021
Kuwait 9.07 84 1996 - 2021
Panama 8.95 85 2000 - 2021
Tunisia 8.51 86 2000 - 2021
Botswana 2.75 87 2001 - 2021


Definition: The stock price volatility index is the 360-day standard deviation of the return on the national stock market index.
1. Venezuela
2. Argentina
3. Bermuda
4. Brazil
5. Namibia
6. Greece
7. Chile
8. Luxembourg
9. Austria
10. Philippines
11. Italy
12. Poland
13. Spain
14. Belgium
15. USA
16. Ireland
17. Turkey
18. France
19. Germany
20. Hungary
21. South Africa
22. Portugal
23. Thailand
24. Canada
25. Vietnam
26. Sweden
27. Sri Lanka
28. UK
29. Netherlands
30. Norway
31. Hong Kong
32. Indonesia
33. Australia
34. Israel
35. Egypt
36. Finland
37. Mexico
38. India
39. Ukraine
40. South Korea
41. Denmark
42. Mongolia
43. Czechia
44. Japan
45. Laos
46. Latvia
47. Iceland
48. Lebanon
49. Singapore
50. North Macedonia
51. China
52. Switzerland
53. Slovakia
54. Saudi Arabia
55. Pakistan
56. Kenya
57. Cyprus
58. Estonia
59. New Zealand
60. Mauritius
61. Bangladesh
62. Malaysia
63. Slovenia
64. Croatia
65. Nigeria
66. UA Emirates
67. Morocco
68. Peru
69. Jamaica
70. Bulgaria
71. Tanzania
72. Qatar
73. Ghana
74. Colombia
75. Malta
76. Bosnia & Herz.
77. Lithuania
78. Serbia
79. Russia
80. Kazakhstan
81. Bahrain
82. Jordan
83. Oman
84. Kuwait
85. Panama
86. Tunisia
87. Botswana
60.53
47.05
34.86
33.79
32.67
31.83
29.75
28.36
28.13
27.07
26.72
26.57
26.47
25.13
24.99
24.79
24.64
24.62
24.38
23.69
23.37
23.25
23.20
22.87
22.50
22.48
22.24
22.02
21.87
21.87
21.77
21.77
21.70
21.50
21.44
21.05
20.62
20.59
20.41
20.18
19.70
19.54
19.46
19.26
18.88
18.87
18.55
18.53
18.39
18.36
18.24
18.23
18.22
17.71
17.28
17.09
17.01
16.96
16.73
16.44
16.34
16.13
15.96
15.84
15.66
15.60
15.40
15.20
15.09
14.99
14.39
14.37
14.01
13.69
13.19
13.12
12.77
12.36
12.32
11.47
10.21
9.49
9.42
9.07
8.95
8.51
2.75
0
15.1
30.3
45.4
60.53
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