The Relationship Between Crude Oil Price and World Sector Indices

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dc.contributor.authorKynnäs, Lauri
dc.contributor.facultyfi=Laskentatoimen ja rahoituksen yksikkö|en=School of Accounting and Finance|
dc.contributor.organizationVaasan yliopisto
dc.date.accessioned2019-04-23
dc.date.accessioned2019-09-25T17:27:18Z
dc.date.accessioned2025-06-25T18:19:08Z
dc.date.available2019-06-03
dc.date.available2019-09-25T17:27:18Z
dc.date.issued2019
dc.description.abstractCrude oil affects almost all activities of our modern day society regardless of the shifting trend to green energy. Thus, it is still useful to understand its impact on world real output. Oil is such an important commodity that its price fluctuations either directly or indirectly affect all sectors of the world. This paper investigates the long-term relationship between crude oil price changes and world sector index returns using monthly MSCI ACWI sector index data from 1995 to 2018, which consists of almost hundred different sectors. The results are consistent with the previous literature. Most of the statistically significant oil coefficients (gammas) indicate negative sensitivity to oil price changes. However, majority of the oil related sectors gain positive gammas. Considering the results of this study, it can be stated that compared with other industries, oil related industries are expected to have long-term positive relationship with oil price changes. This could benefit e.g. global portfolio investors.
dc.description.notificationfi=Opinnäytetyö kokotekstinä PDF-muodossa.|en=Thesis fulltext in PDF format.|sv=Lärdomsprov tillgängligt som fulltext i PDF-format|
dc.format.bitstreamtrue
dc.format.extent65
dc.identifier.olddbid9576
dc.identifier.oldhandle10024/8948
dc.identifier.urihttps://osuva.uwasa.fi/handle/11111/12899
dc.language.isoeng
dc.rightsCC BY-NC-ND 4.0
dc.rights.accesslevelrestrictedAccess
dc.rights.accessrightsfi=Kokoteksti luettavissa vain Tritonian asiakaskoneilla.|en=Full text can be read only on Tritonia's computers.|sv=Fulltext kan läsas enbart på Tritonias datorer.|
dc.source.identifierhttps://osuva.uwasa.fi/handle/10024/8948
dc.subjectOil price sensitivity; Global industry sectors; Equity returns; Asset pricing
dc.subject.degreeprogrammefi=Master's Degree Programme in Finance|
dc.subject.studyfi=Laskentatoimi ja rahoitus|en=Accounting and Finance|
dc.titleThe Relationship Between Crude Oil Price and World Sector Indices
dc.type.ontasotfi=Pro gradu - tutkielma |en=Master's thesis|sv=Pro gradu -avhandling|

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