Correlation among the Stocks of 28 Major Industries in Taiwan and Prices of Dubai Crude and Brent Crude

Crude oil imports have significantly impacted many industries in Taiwan’s economy and investment market. This study applies EViews9 statistical software and multiple regression methods to design a model to compare Dubai and Brent crude oil price with trading volumes of 28 major industries in Taiwan. The results show that stocks of most sectors correlate with Dubai and Brent crude prices. The authors investigate the strength and directional impact of this relationship with oil prices.