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Journal : IMAGE

THE DYNAMIC CORRELATION BETWEEN OIL PRICES AND THE INDONESIAN OIL COMPANIES’ STOCK PRICE Potto, Otniel Syebastian Agusto; Robiyanto, Robiyanto
IMAGE : Jurnal Riset Manajemen Vol 10, No 1 (2021): IMAGE : Jurnal Riset Manajemen, April 2021
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/image.v10i1.31283

Abstract

This study aims to analyze the correlation between oil prices and the Indonesian oil companies’ stock price during the pandemic of COVID-19 by testing the effect of oil price changes on companies' stock return and stock volatility. Also, by considering the dynamic correlation between oil prices and the Indonesian oil companies’ stock prices. The data were collected from secondary data at www.finance.yahoo.com, Oil prices, and the Indonesian oil companies’ stock price period from January 2020 to June 2020 during the pandemic of COVID-19. Further, the data were analyzed by using a GARCH method to examine the effect of changes in oil prices for stock return and stock volatility. Also, the DCC-GARCH method was used to see the dynamic correlation between oil prices and the Indonesian oil companies’ stock price. The result showed that changes in oil prices have a significant effect on stock price volatility and the presence of a positive dynamic correlation between oil prices and the Indonesian oil companies’ stock price. This research can be used as a reference for investors for their investments by looking at the relationship between the oil price and The Indonesian oil companies’ stock price.
Co-Authors A. Harijono A.A. Ketut Agung Cahyawan W Adiwidjojo, Enrico Pranata Agus Dwi Churniawan, Agus Dwi Akhmadi Akhmadi Alsyahrin, Dea Prastica Amalia, Yessi Andrian Dolfriandra Huruta Angelina, Ria Anggreni, Maretha Kris Dwi Apriani Dorkas Rambu Atahau Asmaul Husna Azalia, Kezia Maylani Budi Frensidy, Budi Butarbutar, Ruth Haryati Catherine, Happy Churniawan, Agus Dwi Dwijayati, Bonita Restu Eka Handriani Eka Kartika Untari Fitri, Alya Syafika Gunadi, Patrisinus Ceasar Hadisa, Nurul Harjum Muharam Hartanto, Aldhi Fajar Harwi Kusnadi Heny Handayani Hermiana, Aida Islamy, Muhamad Rido Isnindar Isnindar Jeni, Frima Jusak Jusak Jusak, Jusak Komala Inggarwati, Komala Kusuma, Ria Lakaba, Angriana Leopoldus Ricky Sasongko Lestari, Urai Indah Rachmawati Liana, Jesica Luliana, Sri Marsela, Marsiana Melcin, Sella Angelina Mikasari, Wilda Nafiah, Ilma Nahar, Zuwan Nisfu Nera Umilia Purwanti, Nera Umilia Nugroho, Ainine Devara Nurlita, Eva Nurmainah Nurmainah Nurohman, Nurohman Oktavianto, Dismas Potto, Otniel Syebastian Agusto Pratiwi Apridamayanti, Pratiwi Pratiwi, Nabilla Putri Pratiwi, Siska Gita Priyanto, Aldi Rahmadani, Ardha Laila Reni Haerani Rihfenti Ernayani Rosmimi, Monika Safitri, Yunita Dewi Salvatori, Etheldreda Gladys Samuel Martono Sanera, Ferlino Saputra, Ilham Saputri, Aisyah Sari, Ardilla Putri Naina Stefan, Yonatan Alvin Sudjinan, Sudjinan Supentri Suraya, Dini Susanti, Ressi Tamara, Sephia Lisa Tundjung Mahatma Wibowo, Stefanus Chandra Wisnu Mawardi Yesmawati, Yesmawati Yuhanitha, Nensya Yuliana, Ashalia Fitri Yunita Yunita