The Relationship Between the Oil Prices and Stock Prices: An Application in Bist Chemical, Oil, Plastic Index

Celik, Melike Kurtaran; Aktas, Zekiye; Kurtaran, Ahmet; Kurtaran, Ayten Turan

doi:10.32479/ijeep.8269

Cited by 2 publications

(1 citation statement)

References 18 publications

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“…The findings from this research have it that oil price shock negatively (adversely) affect returns in stock market of these nations. Melike et al (2019) investigated the dynamics of the relationship between the global oil prices and stock prices of Turkey using daily data set from December 03, 2010 and December 06, 2017 employed on the SVAR model. The outcome of the analyses indicates firstly that, there was a statistically significant adverse (negative) correlation between oil prices and stock prices of Turkey.…”

Section: Introductionmentioning

confidence: 99%

On Establishing Empirical relationship between Global Crude oil Market and the Nigerian Stock Exchange using Vector Autoregressive Model

Arua

Nduka

2023

Preprint

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This research work is purposed to undercover the empirical relationship residing in-between the global crude oil market and Nigerian stock exchange from 1997 to 2019. Variables chosen for this study are crude oil price, crude oil export, crude oil production, all share index, consumer price index and exchange rate and were analyzed using the model. The results from our analyses show that firstly, the global crude oil market has a positive correlation with the Nigerian stock exchange. That implies that as the values of the global crude oil market rises (falls), the values of the Nigerian stock exchange also rises (falls). Secondly, the Granger Causality test confirmed that the consumer price index is helpful in forecasting the future values of exchange rate. Furthermore, the variance decomposition and impulse response revealed that to stabilize the value of all share index, we literally optimize the exchange rate by encouraging mechanized farming to boost the export of cash crops, encouraging and enhancing our local firms and diversification of the Nigerian economy.

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Section: Introductionmentioning

confidence: 99%

On Establishing Empirical relationship between Global Crude oil Market and the Nigerian Stock Exchange using Vector Autoregressive Model

Arua

Nduka

2023

Preprint

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Analiza współzależności wybranych indeksów giełdowych w latach 2010-2020

Krzysztof

Stanuch

2021

PE&L

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Cel: Celem artykułu była analiza korelacji wybranych indeksów giełdowych oraz sprawdzenie możliwości ich prognozowania. Materiały i metody: Badanie zostało podzielone na dwie części: zależność indeksów w ujęciu miesięcznym oraz w zakresie perspektywy jego prognozowania. Materiał badawczy dotyczy okresu za lata 2010-2020 a badanie oparto o współczynnik korelacji Pearsona oraz korelacje rang Spearmana. Wyniki: Analiza wykazała wyraźny stopień skorelowania światowych indeksów giełdowych w zakresie rozumowania interpretacji zjawiska korelacji. W przypadku próby prognozowanie przyszłych wartości danego indeksu giełdowego, badania wykazały negatywny skutek polegający na braku odpowiedniego wnioskowania na podstawie historycznych danych. Wnioski: Próba prognozowania przyszłych wartości danego indeksu giełdowego, na podstawie historycznych danych jest niemożliwa. Próba budowania odpowiedniej strategii inwestycyjnej w oparciu o wspomnianą metodologię (próba II) może być nieskuteczna. _____________________________ Objectives: The aim of the article was to analyze the correlation of selected stock market indices and check the possibility of forecasting them. Data and methods: The study was divided into two parts: the dependence of indices on a monthly basis and in terms of the perspective of its forecasting. The research material concerns the period for the years 2010-2020 and the study was based on the Pearson correlation coefficient and Spearman rank correlations. Results: The analysis showed a clear degree of correlation of global stock indices in terms of reasoning for the interpretation of the correlation phenomenon. In the case of an attempt to forecast the future values of a given stock index, the research showed a negative effect consisting in the lack of adequate inference based on historical data. Conclusions: It is impossible to try to forecast the future value of a given stock index on the basis of historical data. Trying to build an appropriate investment strategy based on this methodology (sample II) may be ineffective.

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The Relationship Between the Oil Prices and Stock Prices: An Application in Bist Chemical, Oil, Plastic Index

Cited by 2 publications

References 18 publications

On Establishing Empirical relationship between Global Crude oil Market and the Nigerian Stock Exchange using Vector Autoregressive Model

On Establishing Empirical relationship between Global Crude oil Market and the Nigerian Stock Exchange using Vector Autoregressive Model

Analiza współzależności wybranych indeksów giełdowych w latach 2010-2020

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