Determine the sensitivity of an investment portfolio against various economic variables such as GDP, interest rate, Inflation, commodities, its the first step to build a strong investment index that can beat its benchmarks at a better risk return rate. Besides that this study its an opportunity to explore a field in finance and investment that is not to very well explored in the academy. Students, managers and professionals from finance could use the data showed here as a tool to better observe how macroeconomics variables affect investment decision models.
One of the objects of this paper is to make the comparison of two or more portfolios and see witch and how each strategy overcomes the benchmark, the IBOV index, given the cirmcumstances of the Brazillian economu. 
Following the rule that an investor should consider the expected return a desirable thing and variance of the return undesirable \cite{Markowitz_1952}, or in other words, that the investor is risk averse and prefere a less risk investment choice over a risky one if they have the same return and using the rule that investors have the same risk-tolerance in all periods of life as showed at Lifetime Portfólio Selection \citep{Samuelson_1969}. we can model a portfolio selection.
In this paper we investigate how a pack of economics indicators interact with a selected group of securities from the most famous Brazilian index, IBOVESPA, over discreet time. 

2. Methodology

Utilizing the mean-variance paradigm from Harry Markowitz and the Lifetime Portfolio Selection model by Paul A. Samuelson along with the Sharpe Ration develop by William F. Sharpe \cite{Sharpe_1994}