  The purpose of this paper is to calculate the risk-dependent centrality (RDC)
of the Brazilian stock market. We computed the RDC for assets traded on the
Brazilian stock market between January 2008 to June 2020 at different levels of
external risk. We observed that the ranking of assets based on the RDC depends
on the external risk. Rankings' volatility is related to crisis events,
capturing the recent Brazilian economic-political crisis. Moreover, we have
found a negative correlation between the average volatility of assets' ranking
based on the RDC and the average daily returns on the stock market. It goes in
hand with the hypothesis that the rankings' volatility is higher in periods of
crisis.
