Allen, David S. and Atkins, Allen B. (2001) How well do conventional stock market indicators predict stock market movements?: Working paper series--03-02. Working Paper. NAU W.A. Franke College of Business.
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Abstract
The P/E ratios and the dividend yield of the S&P 500 are analyzed in relation to subsequent stock returns and are show to explain less than 20% of the variation in returns. Some analysts suggest that these indicators should be examined in relation to interest rates. Interest rates are shown not to improve the explanatory power of the indicators. Unfortunately, the conventional indicators studied here are not very helpful and may have caused some investors to miss out on substantial returns.
| Item Type: | Monograph (Working Paper) |
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| Publisher’s Statement: | Copyright, where appropriate, is held by the author. |
| ID number or DOI: | 03-02 |
| Keywords: | Working paper, stock market indicators, stock returns, predictions |
| Subjects: | H Social Sciences > HG Finance |
| NAU Depositing Author Academic Status: | Faculty/Staff |
| Department/Unit: | The W.A. Franke College of Business |
| Date Deposited: | 15 Jan 2016 22:42 |
| URI: | http://openknowledge.nau.edu/id/eprint/1600 |
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