«Problems of economics and management of oil and gas complex»

Correlation of PJSC "Gazprom" financial results with the dynamics of the Russian stock market

UDC: 338.001.36
DOI: -

Authors:

¹ National University of Oil and Gas "Gubkin University", Moscow, Russia

Keywords: stock market, oil and gas industry, financial results, net profit, "Gazprom" PJSC, Moscow Stock Exchange index, stock market capitalization, secondary trading volumes, dynamics, correlation

Annotation:

The stock market is the most important component of the financial market, attracting the attention of investors by generous returns. However, the increased risks of this segment require a particularly in-depth analysis of the relationships between events and the identification of factors affecting the stock market dynamics. The most important stage of studying the stock market is assessment of the factor influence degree on the financial instrument price, which is inextricably linked with correlation calculations. The authors of the article determine the dependence between the financial results of "Gazprom" PJSC, the most famous representative of the oil and gas industry, and the conjuncture of the Russian stock market. Of course, any degree of dependence of an entire state stock market on the financial results of a particular company can be called rather conditional, since there are a huge number of other factors affecting it, nevertheless, such a connection takes place at the present time, when the market is represented by a small number of the largest holdings. The purpose of the authors is to calculate the degree of correlation of JSC "Gazprom" net profit with indicators reflecting the situation in the stock market, in particular, the market capitalization of the Russian stock market, the dynamics of the Moscow Exchange index and the volume of secondary trading of Russian issuers shares The conducted research allowed making a conclusion that the dynamics of the Russian stock market depends on the activities of one of the largest holding companies.

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