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The purpose of the dissertation is to investigate whether unexpected events are really characterized by randomness. Having those findings as a base, we move forward to the examination of the high-risk areas of each unexpected hazard, in an attempt to provide a priori knowledge for preparedness. Moreover, the main purpose of the research is to examine whether the investors, in an attempt to avoid excess losses, tend to react when those unexpected events occur. Statistical approaches as well as map visualizations, indicate the high-risk areas per hazard category. Such a priori information indicates us the level of potential risk we obtain when we place our capital on those regions. Such a region is the well-known Ring of Fire, which is proven based on our data and analysis, the region where the 80% of earthquakes take place annually. Using C.A.P.M and A.P.T estimations with a combination of diagnostic tests we conduct the best model specifications for each case from which the systematic risk derives. An innovative procedure of the research is to present the under/overestimated systematic risks due to the ignorance of diagnostic tests. Moreover, we present the ex-ante and ex-post systematic risks for 65 events of analysis showing that the risk the investor obtains change when an event with great impact occurs. We observe that volcanic activity has a greater influence on the systematic risk compared to the tsunami and the ground movements. At the same time, we mention the Icelandic case which appears to follow a different path, regarding the betas, compared to other similar cases. The petroleum industry, due to its high profitability …