Correlation Based Clustering of the Amman Stock Exchange
This study classifies firms listed on Amman Stock Exchange (ASE) into clusters based on Pairwise stock correlations. The partitioning level technique is based on the decrease in firms’ concertation in their clusters when one additional cluster is created. The results indicate that five and nine clus...
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| Format: | Article |
| Language: | English |
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EconJournals
2017-06-01
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| Series: | International Journal of Economics and Financial Issues |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/pub/ijefi/issue/32035/354475?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| _version_ | 1797919033642713088 |
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| author | Hussein A. Abdoh |
| author_facet | Hussein A. Abdoh |
| author_sort | Hussein A. Abdoh |
| collection | DOAJ |
| description | This study classifies firms listed on Amman Stock Exchange (ASE) into clusters based on Pairwise stock correlations. The partitioning level technique is based on the decrease in firms’ concertation in their clusters when one additional cluster is created. The results indicate that five and nine clusters lower the concentration significantly and thus are selected as the grouping levels. The concentration of firms in some clusters is very low while the concentration in other clusters is very high. The clustering outcome indicates that ASE could be characterized by high R square and return synchronicity. |
| first_indexed | 2024-04-10T13:38:59Z |
| format | Article |
| id | doaj.art-78abbbb9f3ed4347b9cf3e4365002318 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T13:38:59Z |
| publishDate | 2017-06-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-78abbbb9f3ed4347b9cf3e43650023182023-02-15T16:11:14ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382017-06-01722592651032Correlation Based Clustering of the Amman Stock ExchangeHussein A. AbdohThis study classifies firms listed on Amman Stock Exchange (ASE) into clusters based on Pairwise stock correlations. The partitioning level technique is based on the decrease in firms’ concertation in their clusters when one additional cluster is created. The results indicate that five and nine clusters lower the concentration significantly and thus are selected as the grouping levels. The concentration of firms in some clusters is very low while the concentration in other clusters is very high. The clustering outcome indicates that ASE could be characterized by high R square and return synchronicity.https://dergipark.org.tr/tr/pub/ijefi/issue/32035/354475?publisher=http-www-cag-edu-tr-ilhan-ozturkclusters pairwise return correlations diversification |
| spellingShingle | Hussein A. Abdoh Correlation Based Clustering of the Amman Stock Exchange International Journal of Economics and Financial Issues clusters pairwise return correlations diversification |
| title | Correlation Based Clustering of the Amman Stock Exchange |
| title_full | Correlation Based Clustering of the Amman Stock Exchange |
| title_fullStr | Correlation Based Clustering of the Amman Stock Exchange |
| title_full_unstemmed | Correlation Based Clustering of the Amman Stock Exchange |
| title_short | Correlation Based Clustering of the Amman Stock Exchange |
| title_sort | correlation based clustering of the amman stock exchange |
| topic | clusters pairwise return correlations diversification |
| url | https://dergipark.org.tr/tr/pub/ijefi/issue/32035/354475?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| work_keys_str_mv | AT husseinaabdoh correlationbasedclusteringoftheammanstockexchange |