STATISTICAL ANALYSIS OF THE RELATIONSHIP BETWEEN OIL PRICES AND INDUSTRY INDEX PRICES

Nurkhodzha Akbulaev,Etimad Rahimli

doi:10.32479/ijeep.8901

Nurkhodzha Akbulaev, Etimad Rahimli

Open Access

https://doi.org/10.32479/ijeep.8901

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Abstract

The article is devoted to the study of the relationship between the level of industry indices and the oil market. It is proved that there are positive and negative effects associated with an increase in sales and oil prices and world indices. It is very difficult to establish a clear relationship between the level of industry indices and the development of the oil market, but statistical methods help to identify existing relationships. The purpose of the article is to identify the relationship between oil price and industry index prices through statistical analysis. The objectives of the work are: to consider existing approaches to assessing the relationship between oil price and prices of industry indices through the review of literature, to consider theoretical aspects of the relationship between oil prices for indices of stock exchanges, to form a model of statistical analysis and to check it on specific data of the Moscow Stock Exchange. Statistical analysis of the relationship between oil prices and industry index prices has helped international organizations to develop preventive measures to support positive market effects and to boost global markets.

Highlights

IntroductionCompetitiveness is a specific form of economic ability of a producer in a competitive market
In a market economy, economic ability acts as a competitive ability
It should be noted that the dependence of Russian industry indices on world oil prices is much higher than in the world as a whole

Summary

Introduction

Competitiveness is a specific form of economic ability of a producer in a competitive market. The increase in the number and power of extreme economic phenomena, the growth of man-made disasters provoke the main threats to sustainable development, which are embodied in the energy crisis, which is associated with changes in the balance of supply and energy resources’ demand due to advances in the development of oil and gas production technologies. Such crises lead to significant changes in industry indices.

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