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Correlation Analysis Between Gold Prices and Stock Prices

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  • Qi Li

    (Hunan University, College of Finance and Statistics)

Abstract

As crucial financial assets, the correlation between the price of gold and stocks has long been a central topic in financial research. Against the backdrop of the Chinese market, this paper aims to explore the dynamic connection between gold prices and the stock market. Using a vector autoregression (VAR) model combined with impulse response functions and Granger causality tests, the immediate term shock effects and connection of long-term equilibrium between the two are analyzed. The results show a strong relationship between gold prices and the stock market: fluctuations in gold prices play a safe-haven role for the stock market, while changes in the stock market also feedback into gold prices. The conclusions of this study contribute to revealing the risk transmission mechanisms within China’s financial market and provide references for portfolio optimization and policy formulation.

Suggested Citation

  • Qi Li, 2026. "Correlation Analysis Between Gold Prices and Stock Prices," Advances in Economics, Business and Management Research,, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6239-719-4_3
    DOI: 10.2991/978-94-6239-719-4_3
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