8. Analysis and Findings

Tables 8.1 and 8.2 show the descriptive statistics of all the variables. Probability value suggests that all the variables are normal except Shanghai composite and NASDAQ 100 due to p value more than 0.05. The variables have 169 samples during the study period. During the study period, prices of crude oil rose to 2.9052 and came down to 1.0004 with a mean price of 1.6285. The Shanghai composite rose to 3.4935 and came down to 3.4249 with a mean point of 3.4652. The KOSPI rose to 3.3554 and came down to 3.1636 with a mean point of 3.308. The BSE SENSEX rose to 4.6227 and came down to 4.4146 with a mean point of 4.5677. The FTSE 100 rose to 3.885 and came down to 3.6984 with a mean point of 3.8299. The NASDAQ 100 rose to 3.9876 and came down to 3.8455 with a mean point of 3.9296. The MOEX rose to 3.9207 and came down to 3.3248 with a mean point of 3.4965. BOVESPA rose to 5.0774 and came down to 4.8032 with a mean point of 4.9932. FTSE MIB rose to 4.4061 and came down to 4.173 with a mean point of 4.3221. NIKKEI 225 rose to 4.3817 and came down to 4.2188 with a mean point of 4.3367. CAC 40 rose to 8.7178 and came down to 8.2308 with a mean point of 8.5784. DAX 30 rose to 9.5316 and came down to 9.0409 with a mean point of 9.3966. S&P TSX rose to 9.795 and came down to 9.3262 with a mean point of 9.6761. FTSE/JSE rose to 8.1711 and came down to 7.7122 with a mean point of 8.0667. The variables like crude oil KOSPI and MOEX possess “fat tails”, and all the select variables are normally distributed.