IGBC (Colombia) Heatmap: Market Structure and Relative Performance

The configured widget uses COLCAP as its data source, although the page retains the legacy IGBC label in its URL. These are not interchangeable index names: Colombia’s benchmark history and methodology changed, so readers should treat the displayed COLCAP universe as the operative selection.

For Colombia’s IGBC selection, interpret sector patterns in the context of local financial conditions and commodity exposure, and verify the dataset’s current benchmark definition.

What to examine in this selection

The embedded TradingView stock heatmap is configured with dataSource “COLCAP”. Treat that widget selection as the displayed universe, and verify it against the current official index methodology and constituent list before assuming exact membership, weights or completeness. Index rules and provider datasets can change over time.

Use this page as a COLCAP-oriented heatmap and verify the provider’s current index definition. Do not describe its displayed constituents as the former IGBC universe without evidence.

IGBC / COLCAP (Colombia): profile and context

This page is configured with COLCAP as its data source, even though the URL keeps the legacy IGBC label. COLCAP is Colombia’s main capitalisation-weighted index of liquid shares on the Colombian Stock Exchange, and it should not be confused with the older IGBC.

How I would read the display

One useful distinction on this page is market breadth versus market concentration. Colombia’s market is concentrated: the state-linked oil producer, large banks, utilities and infrastructure holding groups, cement and consumer companies make up most of the value. That is why I would check the following before describing the session as broadly positive or negative: Treat the map as a COLCAP view. Do not describe it as the former IGBC universe without checking the official sources. A few large constituents can dominate the visual impression while a different share of companies moves the other way.

Frequently asked questions

What is the difference between COLCAP and IGBC?

They are different index series with different methodologies. COLCAP is the capitalisation-weighted index used here, while the IGBC is an older general index of the exchange.

Why does oil matter for Colombian stocks?

Oil is one of the country’s major exports and a large listed company is an oil producer, so oil prices influence both earnings and the overall market.

Breadth, concentration and context

Colombia’s market is concentrated: the state-linked oil producer, large banks, utilities and infrastructure holding groups, cement and consumer companies make up most of the value. With a relatively small group of liquid shares, a few tiles can set the colour, and oil prices and the Colombian peso are frequent drivers.

Related heatmaps

Bovespa (Ibovespa) — Brazil’s benchmark.
IPSA (Chile) — Chile’s benchmark.
IGBVL (Peru) — Peru’s benchmark.

Look beyond the biggest tiles

Treat the map as a COLCAP view. Do not describe it as the former IGBC universe without checking the official sources.
Compare the oil producer with banks and utilities. Oil prices drive the first, while interest rates and domestic growth drive the others.
Check the peso, since local-currency moves can differ from dollar-based returns.

Use the display as a research starting point. Check the selected date range, size and colour settings, market status, and current data coverage before comparing securities. This page is educational and is not a recommendation to buy or sell an asset.

Data scope and limitations

This visualisation is a screening aid, not an independently audited constituent database. Quote delays, trading hours, liquidity, corporate actions and provider coverage can affect the display. Confirm current membership and methodology with the relevant exchange or index provider. Educational research only; not investment advice.

How to read the pattern with care

This page's configured TradingView source is COLCAP, so do not treat the legacy IGBC page label as proof that the widget displays an IGBC index. Confirm the current benchmark name and methodology before comparing it with other Colombian-market references. This distinction is important because similarly named indexes are not automatically interchangeable.

A useful comparison

A useful cross-check is to compare this page with a related benchmark while holding the period and colour metric constant. Differences may reflect membership rules, weighting or sector composition—not necessarily a change in investor sentiment. Confirm the exact data source and use the index provider’s documentation for formal definitions.

Keep a simple record of the data source, selected time range and colour metric when revisiting this page. That makes comparisons more reproducible and reduces the risk of treating two differently configured views as if they measured the same thing. This page is educational market research, not a recommendation to buy or sell a security.

IGBC: check what the index label includes before interpreting the map

An index label can refer to a specific segment or methodology, and the selected widget universe should be verified against the official provider definition. Before reading sector leadership into the heatmap, check the exact constituents, eligibility rules and weighting method. The map is most useful for comparing the configured securities under one consistent time range; it is less reliable as a standalone source for index construction or market-wide conclusions. Use official index documentation for formal descriptions.

Distinguish the index from the exchange

What are the current eligibility and weighting rules for this index, and does the widget selection match them?

Sources and further reading

GIR Heatmap User Guide — controls, interpretation and workflow.
TradingView Stock Heatmap widget documentation — widget settings and supported display options.
TradingView heatmap settings guide — how size and colour metrics affect the display.