Analysis On The Impact Of Commodity Futures Price Fluctuation On Enterprise Stock Price

In there have been many research results that financial futures price fluctuation in the linear influence on stock market volatility,on the basis of this paper hope through the data analysis of commodity futures price volatility can on the real economy enterprises the same linear influence stock price fluctuations,and to explore the possibility of the relationship between.This paper selected the plastic commodity futures nearly three years of market price fluctuations and domestic plastic industry giant Hongda Industrial(002002)stock price volatility as the research data,search for plastic enterprise whether the stock price fluctuation and main plastic futures market price fluctuations have direct influence.On the associated plastic futures option,the article chooses the Dalian Commodity Exchange of linear low density polyethylene(LLDPE)and polyvinyl chloride(PVC)and polypropylene(PP)three plastic futures as the research object,the three plastic futures is the forefront of the plastic futures market share,also in Hongda Industrial's products occupy a different place,.In this paper,the data comparison and graph correlation are used to analyze the two.Then by using the VAR model,the cointegration test method is used to test the cointegration relationship between the prices of the three plastic futures and the stock prices of Hongda Industrial.Finally,it is concluded that the direct linear relationship between the price of PVC futures and the stock prices of Hongda Industrial is immediate and effective.LLDPE and Hongda Industrial stock price have the interactivity,but compared with PVC,there is a certain delay,and there is a steady trend.The price fluctuation of PP futures has not yet produced concrete interactivity with the stock price fluctuation of Hongda Industrial.All correlation suggests that represented by Hongda Industrial plastic enterprise stock volatility,are the main plastic price discovery function of futures market can exert influence,so we can draw entity futures price fluctuation,is associated with the entity enterprise one of the many influencing factors of stock fluctuations.This paper finds that by paying close attention to the price fluctuation of linked futures,it can have a positive effect on the stable stock price of each enterprise.And these findings canprovide entity enterprise with better price discovery and risk management of the business,improve the strength of the futures market service entity economy,helps to standardize futures market promote the entity enterprise stock steady development.