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Characteristics of the Korean stock market correlations

โœ Scribed by Woo-Sung Jung; Seungbyung Chae; Jae-Suk Yang; Hie-Tae Moon

Publisher
Elsevier Science
Year
2006
Tongue
English
Weight
202 KB
Volume
361
Category
Article
ISSN
0378-4371

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โœฆ Synopsis

We establish in this study a network structure of the Korean stock market, one of the emerging markets, with its minimum spanning tree through the correlation matrix. Based on this analysis, it is found that the Korean stock market does not form the clusters of the business sectors or of the industry categories. When the MSCI (Morgan Stanley Capital International Inc.) index is exploited, we find that the clusters of the Korean stock market is formed. This finding implicates that the Korean market, in this context, is characteristically different from the mature markets.

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