TY  - JOUR
TT  - Correlation Based Clustering of the Amman Stock Exchange
AU  - Abdoh, Hussein A.
PY  - 2017
DA  - June
JF  - International Journal of Economics and Financial Issues
JO  - IJEFI
PB  - İlhan ÖZTÜRK
WT  - DergiPark
SN  - 2146-4138
SP  - 259
EP  - 265
VL  - 7
IS  - 2
KW  - Clusters
KW  - pairwise return correlations
KW  - Diversification
N2  - This study classifies firms listed on Amman Stock Exchange (ASE) into clusters based on Pairwise stock correlations. The partitioning level technique is based on the decrease in firms’ concertation in their clusters when one additional cluster is created. The results indicate that five and nine clusters lower the concentration significantly and thus are selected as the grouping levels. The concentration of firms in some clusters is very low while the concentration in other clusters is very high. The clustering outcome indicates that ASE could be characterized by high R square and return synchronicity.
UR  - https://dergipark.org.tr/en/pub/ijefi/issue//354475
L1  - https://dergipark.org.tr/en/download/article-file/365705
ER  -