The purpose of this research is to investigate the relationship between crude oil prices and the stock market index of Iran in the period from September 2009 to December 2020. For this purpose, by using wavelet coherence approach based on continuous wavelet transform, t More
The purpose of this research is to investigate the relationship between crude oil prices and the stock market index of Iran in the period from September 2009 to December 2020. For this purpose, by using wavelet coherence approach based on continuous wavelet transform, the relationship between the yield pair series of Brent crude oil price-total stock index, WTI oil price-total stock index and OPEC oil price-total index of Tehran Stock Exchange has been investigated .The results of this research show that the dependence between the above pair of time series increases with the increase of uncertain conditions such as the increase of sanctions, the withdrawal of the United States from the JCPOA, and the corona pandemic in the medium and long term. Therefore, investors can adjust their investment portfolio in the long and medium term based on the conditions governing the country and their investment goals.
Manuscript profile