NEW YORK (TheStreet) -- Korean stocks currently offer the best opportunity among global equity markets, with their "attractiveness score," surging past those of Brazil and the United States, both of which fell in Citigroup's (C) ranking system.
Some of Korea's largest publicly traded names include Samsung Electronics (SSNLF) and Hyundai Motor (HYMTF), though retail investors can also get access to the market through exchange traded funds like iShares South Korea (EWY).
Citigroup looks at 17 quantitative factors to determine the attractiveness of global stock markets. Korea was the cheapest of 22 countries in terms of price to sales and price to book, while also scoring at or near the top according to several more complex metrics. Putting all 17 factors together, Korea scored 0.97 in the rankings, compared to Japan, which scored last at -1.31. The U.S. ranked 11th with a score of -0.19., and Brazil, which had the best rating last month at 1.13, fell to fourth place with a score of 0.28.
Countries notably absent from Citigroup's ranking system were China, Russia and India.