Abstract
Using mean and variance causality analysis, this study examines the volatility relationship between Turkish and G7 stock markets. Weekly return data from May 29, 2009, to June 6, 2023, is utilized for the analysis. The Hong mean and variance causality analysis method is employed as the methodology. Based on the results of the study, Turkey and Japan's stock markets have a significant mean causality relationship. Moreover, the variance causality analysis demonstrates a strong relationship between Turkey and stock markets of Canada, France, Germany, Japan, and the United States. The findings contribute to portfolio diversification strategies and highlight the importance of understanding the dynamics of international financial markets.
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