Long-Term Trends in Colombian Market Dynamics:  An In-Depth Analysis of Equity Performance

Jose Marcelo  Torres Ortega; Hernán Javier  Guzmán Murillo; Jenny Xiomara  Marquez Carrascal

doi:10.36941/ajis-2024-0190

Authors

Jose Marcelo Torres Ortega Universidad de Sucre, Puerta Roja, Sincelejo, Sucre, Colombia
Hernán Javier Guzmán Murillo Universidad de Sucre, Puerta Roja, Sincelejo, Sucre, Colombia
Jenny Xiomara Marquez Carrascal Universidad de Sucre, Puerta Roja, Sincelejo, Sucre, Colombia

DOI:

https://doi.org/10.36941/ajis-2024-0190

Keywords:

Petroleum-Equity Correlation, Emerging Market Dynamics, Statistical Finance Analysis, Resource-Dependent Economies, Investment Pattern Recognition

Abstract

This study explores the relationship between petroleum market fluctuations and equity performance in Colombia's financial exchange. Employing cutting-edge statistical techniques, particularly Functional Data Analysis, researchers examined daily closing figures for 18 prominent corporations across various sectors from 2018 to 2019. The investigation showed patterns in stock behavior, uncovering three distinct groupings based on market trends. The analysis demonstrated a correlation between crude commodity prices and overall market dynamics. These findings offer insights for investors, policymakers, and financial analysts, potentially enhancing decision-making processes in Colombia's economic landscape. This research contributes to a deeper understanding of emerging market behavior, particularly in economies heavily reliant on natural resource exports.

Received: 20 September 2023 / Accepted: 18 October 2024 / Published: 05 November 2024