[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-571146-105":53,"doc-detail-571146-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","the-relationship-between-stock-prices-and-silver-future-prices-based-on-var-model-abstract","The Relationship between Stock Prices and Silver Future Prices Based on VAR Model - Abstract","","This study examines how stock prices and silver futures prices interact, especially under recent volatility in fossil-energy related futures and commodity-linked equities. Using a VAR model and Granger causality tests with data from the China Shanghai Stock Exchange Index and silver futures (Feb 5, 2015 to Feb 8, 2023), results indicate stock prices—current or historical—do not significantly affect futures prices. In contrast, futures prices significantly influence future stock prices, supporting more informed investment decision-making.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":11,"@type":70,"position":76},"https://docshare.wps.com/template/presentations/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/the-relationship-between-stock-prices-and-silver-future-prices-based-on-var-model-abstract/571146/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/the-relationship-between-stock-prices-and-silver-future-prices-based-on-var-model-abstract/571146.png","ImageObject",442,249,{"name":88,"@type":89},"Grenda","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-25","2026-10-13",true,{"@type":98,"interactionType":99,"userInteractionCount":79},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What does the study investigate about the link between stock and futures markets?","Question",{"text":108,"@type":109},"It investigates whether stock prices affect silver futures prices and whether the reverse relationship holds.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What methodology is used to analyze the relationship?",{"text":113,"@type":109},"The study uses a VAR model and applies Granger causality tests to assess directional influence between stock returns and futures returns.",{"name":115,"@type":106,"acceptedAnswer":116},"What are the main findings regarding causality?",{"text":117,"@type":109},"Stock prices (current or historical) do not significantly impact futures prices, while futures prices significantly affect future stock prices.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},571146,1792294826,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":8,"category_name":11,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":79,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":73},7971474921005,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","The Relationship between Stock Prices and Silver Future  \nPrices Based on VAR Model  \nYixuan Ma*  \nKing’s College London , London, UK  \nCorresponidng [Email. K22033157@kcl.ac.uk](Email. K22033157@kcl.ac.uk)  \nAbstract. Despite recent dramatic increases in the prices of coal, oil, natural gas, and other fossil energy futures, some of which have hit successive record highs, related stocks have seen substantial decreases. The price trend of commodities is typically driven by commodity futures, which serve as price discoverers. There is a relationship between futures and stocks in the market, meaning that when the price of the futures contract for a particular commodity rises, so will the price of the stock of the company that produces the commodity because investors anticipate rising earnings. But does the price of futures vary when the stock price does? Based on the findings of the VAR model and Granger causality test, this study concludes that the stock price, whether it be the current price orthe historical earnings, does not significantly affect the futures price. Futures prices have a significant impact on future stock prices. This would facilitate investment decision-making.  \nKeywords: Stock price, VAR model analysis, future market.  \n1. Introduction  \nDespite recent sharp increases in the prices of coal, oil, natural gas, and other fossil energy futures, some of which have reached consecutive record highs, related stocks have experienced significant declines [1-2] . Many people are baffled by and hampered by the commodity futures and stock market's reverse trend.  \nCommodity futures typically act as price discoverers and steer the price trend of commodities. Additionally, as a result of this, there is a relationship between futures and stocks in the market, meaning that when the price of a futures contract for a particular commodity rises, so will the price of the stock of the company that produces the commodity as investors anticipate higher earnings [3- 4] . This linking performance is especially clear in the wave of cyclical equities represented by nonferrous metals in early 2023.  \nAlthough the futures market and the stock market are two separate markets in theory, due to the futures' role in price discovery, stock index futures, treasury bond futures, and commodity futures will all respond before the stock index does, and the stock sector will follow commodities futures'lead [5-7]. The relationship between stock returns and silver futures in the Chinese market, however, has not received much scrutiny.  \nIn this study, the related effects of stock return and futures return are estimated by using a VAR model primarily due to that the VAR approach can be used to estimate each equation in the model separately, making model estimation fairly straightforward. Besides, the predetermined nature of all the variables on the right side of the model, their knowledge at time t, the estimation of the parameters using the OLS method, and the consistency and efficiency of the estimators. In most cases, the forecasts produced by VAR models are more accurate than those produced by conventional simultaneous equation models, which are much more complicated. This is primarily because VAR models can frequently be impacted by restrictions put in place to avoid ensuring the identifiability of structural models.  \nThis study concludes that the stock price, whether it be the present price or the historical earnings, does not have a substantial impact on the futures price based on the results of the VAR model and Granger causality test. There is some room for arbitrage to help investors earn excess profits, but changes in futures prices will inevitably lead to changes in stock prices in the future.  \n2. Data  \nIn order to examine the relationship between stock prices and futures prices, this article collects data from the China Shanghai Stock Exchange Index and silver futures for nearly eight years, from February 5, 2015, to February 8, 2023. ","cbCaib26YUD6izmP","https://ap.wps.com/l/cbCaib26YUD6izmP","pdf",311870,6,"English","# Introduction\n# Data\n# Method and analysis","[{\"question\":\"What does the study investigate about the link between stock and futures markets?\",\"answer\":\"It investigates whether stock prices affect silver futures prices and whether the reverse relationship holds.\"},{\"question\":\"What methodology is used to analyze the relationship?\",\"answer\":\"The study uses a VAR model and applies Granger causality tests to assess directional influence between stock returns and futures returns.\"},{\"question\":\"What are the main findings regarding causality?\",\"answer\":\"Stock prices (current or historical) do not significantly impact futures prices, while futures prices significantly affect future stock prices.\"}]","The Relationship between Stock Prices and Silver Future Prices Based on VAR Model - Abstract | PDF",1791895758]