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Analysis of global stock markets’ connections with emphasis on the impact of COVID-19()
We explore global stock markets’ connections during the financial crises or risks since 1995 with emphasis on the situation under COVID-19. We choose 40 countries/regions and take one index from each of them, and then compute the correlation coefficients and distances between each pair of the indice...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Elsevier B.V.
2021
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9759673/ https://www.ncbi.nlm.nih.gov/pubmed/36569587 http://dx.doi.org/10.1016/j.physa.2021.125774 |
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author | Guo, Hongfeng Zhao, Xinyao Yu, Hang Zhang, Xin |
author_facet | Guo, Hongfeng Zhao, Xinyao Yu, Hang Zhang, Xin |
author_sort | Guo, Hongfeng |
collection | PubMed |
description | We explore global stock markets’ connections during the financial crises or risks since 1995 with emphasis on the situation under COVID-19. We choose 40 countries/regions and take one index from each of them, and then compute the correlation coefficients and distances between each pair of the indices with a sliding window. We construct the complexes and carry out topological data analysis mainly through persistence landscapes and their [Formula: see text]-norms, which exhibit the complexes’ daily changes. We establish a critical dates’ detection system based on the persistence landscapes. Topological features of the complex networks are shown on the critical dates and dates before them. All the results show clearly that the connections became even closer among the markets when COVID-19 spread worldwide than those of any other risk. The robustness and effectiveness of these methods provide guidance for the analysis of financial crises in the future. |
format | Online Article Text |
id | pubmed-9759673 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2021 |
publisher | Elsevier B.V. |
record_format | MEDLINE/PubMed |
spelling | pubmed-97596732022-12-19 Analysis of global stock markets’ connections with emphasis on the impact of COVID-19() Guo, Hongfeng Zhao, Xinyao Yu, Hang Zhang, Xin Physica A Article We explore global stock markets’ connections during the financial crises or risks since 1995 with emphasis on the situation under COVID-19. We choose 40 countries/regions and take one index from each of them, and then compute the correlation coefficients and distances between each pair of the indices with a sliding window. We construct the complexes and carry out topological data analysis mainly through persistence landscapes and their [Formula: see text]-norms, which exhibit the complexes’ daily changes. We establish a critical dates’ detection system based on the persistence landscapes. Topological features of the complex networks are shown on the critical dates and dates before them. All the results show clearly that the connections became even closer among the markets when COVID-19 spread worldwide than those of any other risk. The robustness and effectiveness of these methods provide guidance for the analysis of financial crises in the future. Elsevier B.V. 2021-05-01 2021-01-27 /pmc/articles/PMC9759673/ /pubmed/36569587 http://dx.doi.org/10.1016/j.physa.2021.125774 Text en © 2021 Elsevier B.V. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active. |
spellingShingle | Article Guo, Hongfeng Zhao, Xinyao Yu, Hang Zhang, Xin Analysis of global stock markets’ connections with emphasis on the impact of COVID-19() |
title | Analysis of global stock markets’ connections with emphasis on the impact of COVID-19() |
title_full | Analysis of global stock markets’ connections with emphasis on the impact of COVID-19() |
title_fullStr | Analysis of global stock markets’ connections with emphasis on the impact of COVID-19() |
title_full_unstemmed | Analysis of global stock markets’ connections with emphasis on the impact of COVID-19() |
title_short | Analysis of global stock markets’ connections with emphasis on the impact of COVID-19() |
title_sort | analysis of global stock markets’ connections with emphasis on the impact of covid-19() |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9759673/ https://www.ncbi.nlm.nih.gov/pubmed/36569587 http://dx.doi.org/10.1016/j.physa.2021.125774 |
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