Lameira, PedroColella, Edoardo2016-03-152016-03-152016-01http://hdl.handle.net/10362/16783Dispersion of returns has gained a lot of attention as a measure to distinguish good and bad investment opportunities time. In the following dissertation, the cross-sectional returns volatility is analyzed over a fifteen year period across the S&P100 Index composition. The main inference drawn from the data sample is that the canonical measure of dispersion is highly macro-risk driven and therefore more biased towards returns volatility rather than its correlation component.engReturns dispersionPairwise correlationVolatilitymaster thesis201529572