The Relationship between the Oil Prices and Stock Prices: An Application in BIST Chemical, Oil, Plastic Index

Melike Kurtaran Elik, Zekiye Akta, Ahmet Kurtaran and Ayten Turan Kurtaran
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Melike Kurtaran Elik: Vocational School of Tourism and Hospitality, Trabzon University, Turkey
Zekiye Akta: Faculty of Business and Economics, Karadeniz Technical University, Turkey
Ahmet Kurtaran: Faculty of Business and Economics, Karadeniz Technical University, Turkey
Ayten Turan Kurtaran: Faculty of Health Sciences, Karadeniz Technical University, Turkey.

International Journal of Energy Economics and Policy, 2019, vol. 9, issue 6, 165-170

Abstract: The purpose of this study is to examine the relationship between oil prices and stock prices. The study consists of a daily data set over the period between 03.12.2010 and 06.12.2017. Firstly, the relationship between the variables was measured by the Spearman s rank correlation coefficient. The result of the analysis found that there was a statistically significant negative correlation between oil prices and stock prices, and it was also identified that 15% of the changes in stock price were as result of changes in oil prices.

Keywords: Oil Prices; Stock Prices; Engle Granger Analysis (search for similar items in EconPapers)
JEL-codes: C22 G15 Q41 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2019-06-20

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