An Exploration of the Correlation of Stock Prices of Representative Firms in Different Sectors

Zhaoyi Wu

Proceedings of the 5th International Conference on Economic Management and Model Engineering, ICEMME 2023, November 17–19, 2023, Beijing, China

Research Article

An Exploration of the Correlation of Stock Prices of Representative Firms in Different Sectors

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@INPROCEEDINGS{10.4108/eai.17-11-2023.2342753,
    author={Zhaoyi  Wu},
    title={An Exploration of the Correlation of Stock Prices of Representative Firms in Different Sectors},
    proceedings={Proceedings of the 5th International Conference on Economic Management and Model Engineering, ICEMME 2023, November 17--19, 2023, Beijing, China},
    publisher={EAI},
    proceedings_a={ICEMME},
    year={2024},
    month={2},
    keywords={wavelet coherence stock price invest investment portfolio covid-19},
    doi={10.4108/eai.17-11-2023.2342753}
}

Zhaoyi Wu
Year: 2024
An Exploration of the Correlation of Stock Prices of Representative Firms in Different Sectors
ICEMME
EAI
DOI: 10.4108/eai.17-11-2023.2342753

Zhaoyi Wu¹^,*

1: Beihang University

*Contact email: Buaa_io@buaa.edu.cn

Abstract

The analysis of correlations of different company stock prices and offer the investment suggestions are the key interest of this paper. In this paper, we re-examine the stock price of selected companies in the span of 2018-2023, and focused on exploring the variations of the price during the covid-19. The wavelet coherence method allow us to find out the correlation and distinct between the companies we choose. In this method, we can characterize how stock price relate in the time and frequency domains, simultaneously. We concentrate in the Exxon Mobil, Amazon, Nike, Apple, Tesla, Walmart and Berkshire Hathaway.

Keywords: wavelet coherence stock price invest investment portfolio covid-19

Published: 2024-02-27
Publisher: EAI

: http://dx.doi.org/10.4108/eai.17-11-2023.2342753