[RT] Correlation of international markets?

["Owen Davies" <owen@xxxxxxxxxxxxx>]

Has anyone done rigorous studies of how closely the
S&P, Hang Seng, FTSE, etc. are correlated?  How much
of a change in one it takes to influence the others?
I know the obvious lore, but it would be nice to have some
hard statistics.  (And I'm pretty lazy about developing my
own when someone else may have done the job.)

Thanks.

Owen Davies