Proceedings of the 2023 International Conference on Economic Management，Financial Innovation and Public Service (EMFIPS 2023)

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Analysis of Macroeconomic Indicators That Affect Electric Vehicle Stock Market

Authors
Jiazhong Wang1, *
1Information Systems Management, New York University School of Professional Studies, New York, NY, 10004, USA
*Corresponding author. Email: Jw5596@nyu.edu
Corresponding Author
Jiazhong Wang
Available Online 21 June 2024.
DOI
10.2991/978-94-6463-441-9_13How to use a DOI?
Keywords
EV; Renewable energy; Indexes; Stocks fluctuation; Policies
Abstract

The performance of an individual stock is exposed to both systematic and unsystematic risks based on economic indicators. Such indicators may directly or indirectly have drastic effects on the performance of an individual stock or the overall market. The stock market is an integral part of the financial system. Therefore, publicly trading companies are large entity that is part of the economic environment. Thus, any fluctuations in the macroeconomic environment would also affect the performance of stocks. For example, the Consumer Price Index measures the price of the average market basket of products. The CPI is crucial to the stock market as it also serves as a key economic metric for tracking the rate of inflation. This paper collected CPI, U.S.-China exchange rates, and other data sourced from FRED (Federal Reserve Economic Data) and Yahoo Finance. These indexes were part of the data selected to perform multivariate regression through SPSS Statistics and MATLAB to determine its relationship with the performance of three EV stocks including Tesla, BYD, and Nio. Results suggest that BYD and Nio’s stock performance is likely affected by its PE ratio. For Nio, there is also an inverse relationship between its stocks and CPI. Tesla’s stocks and CPI, on the other hand, have a positive correlation. However, there is an inverse relationship with U.S.-China’s exchange rates.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 International Conference on Economic Management，Financial Innovation and Public Service (EMFIPS 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
21 June 2024
ISBN
10.2991/978-94-6463-441-9_13
ISSN
2352-5428
DOI
10.2991/978-94-6463-441-9_13How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Jiazhong Wang
PY  - 2024
DA  - 2024/06/21
TI  - Analysis of Macroeconomic Indicators That Affect Electric Vehicle Stock Market
BT  - Proceedings of the 2023 International Conference on Economic Management，Financial Innovation and Public Service (EMFIPS 2023)
PB  - Atlantis Press
SP  - 130
EP  - 144
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-441-9_13
DO  - 10.2991/978-94-6463-441-9_13
ID  - Wang2024
ER  -