<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The stock market is of great importance for the financial development of a country due to the large volume of transactions therein. Analyzing the correlation between indices in the world helps us figure out which variables are most impactful. This paper proposes the use of ordered weighted average (OWA) operators in combination with the Pearson coefficient to create a measure of correlation that can analyze a wide range of possible scenarios that go from minimum to maximum. The new frameworks can add additional information to the process of correlation. The work presents an application in ten of the largest stock exchanges in the world. The results suggest a broad positive correlation that is reinforced in times of instability.</p>
</abstract>

The stock market is of great importance for the financial development of a country due to the large volume of transactions therein. Analyzing the correlation between indices in the world helps us figure out which variables are most impactful. This paper proposes the use of ordered weighted average (OWA) operators in combination with the Pearson coefficient to create a measure of correlation that can analyze a wide range of possible scenarios that go from minimum to maximum. The new frameworks can add additional information to the process of correlation. The work presents an application in ten of the largest stock exchanges in the world. The results suggest a broad positive correlation that is reinforced in times of instability.

Pearson Correlation and Ordered Weighted Average Operator in the World Stock Exchange Market

Universidad Católica de la Santísima Concepción

Journal of Automation, Mobile Robotics and Intelligent Systems

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The stock market is of great importance for the financial development of a country due to the large volume of transactions therein. Analyzing the correlation...

Pearson Correlation and Ordered Weighted Average Operator in the World Stock Exchange Market

Data publikacji: 13 kwi 2024

Zakres stron: 43 - 55

Otrzymano: 26 maj 2023

Przyjęty: 22 paź 2023

DOI: https://doi.org/10.14313/jamris/1-2024/5

Słowa kluczowe
Stock market, OWA operator, Pearson coefficient, Financial development

© 2024 Martha Flores-Sosa et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Pearson Correlation and Ordered Weighted Average Operator in the World Stock Exchange Market

Data publikacji: 13 kwi 2024

Zakres stron: 43 - 55

Otrzymano: 26 maj 2023

Przyjęty: 22 paź 2023

DOI: https://doi.org/10.14313/jamris/1-2024/5

Słowa kluczoweStock market, OWA operator, Pearson coefficient, Financial development

© 2024 Martha Flores-Sosa et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Słowa kluczowe
Stock market, OWA operator, Pearson coefficient, Financial development