A Study on Comparative Analysis of  Major Stock Indices of World

Alpesh Gajera

doi:10.51611/iars.irj.v10i1.2020.113

Authors

Alpesh Gajera Marwadi Education Foundations’ Group of Institutions, Rajkot, India

DOI:

https://doi.org/10.51611/iars.irj.v10i1.2020.113

Keywords:

STOCK INDEX, WORLD MAJOR STOCK, WORLD MAJOR STOCK INDICES, NIFTY 50, SENSEX

Abstract

Experts talk lots on integration of major stock indices of the world. In this research paper researcher has tried to establish integration between major stock indices of the world by calculating correlation and applying anova on daily return of 16 major stock indices of the world. In research it is found that preceding and succeeding time of opening the stock market plays vital roles in terms of effect on each other. To achieve the objectives of research, last 5 years daily closing price of these 16 indices is collected and analyzed for quantifying the level of correlation between different stock indices. As sufficient time period is taken and daily closing prices are analyzed so it is found there is not significant difference in the daily return of these stock indices.

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