Is CSX Index a Random Walk?

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dc.creatorLim, Siphat
dc.creatorBarnett, Casey
dc.date2021-12-01
dc.date.accessioned2025-11-26T13:08:55Z
dc.descriptionThe growth or decline in stock value depends on information. The Efficiency Market Hypothesis (EMH) consists of three different forms: strong-form, semi-strong-form, and weak-form states that stock price reflects its true value properly, and thus includes all information, public and private. If market inefficiency is discovered, an abnormal return may be created via risk-adjusted technical analysis. The Random Walk Hypothesis (RWH) argued that the price of stock tomorrow is computed based on the price of stock today, and the price of stock cannot be anticipated when a random number is consistent with weak-form efficiency. The empirical findings from this research have shown that the CSX index is not a random walk or weak-form inefficient, as indicated by the Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests, and the Variance Ratio (VR) test.en-US
dc.formatapplication/pdf
dc.identifierhttps://jafess.com/index.php/home/article/view/39
dc.identifier10.62458/jafess.160224.6(2)1-8
dc.identifier.urihttps://cam-ed-oar.com/handle/123456789/17
dc.languageeng
dc.publisherCamEd Business Schoolen-US
dc.relationhttps://jafess.com/index.php/home/article/view/39/29
dc.rightshttps://creativecommons.org/licenses/by/4.0en-US
dc.sourceJournal of Accounting, Finance, Economics, and Social Sciences; Vol. 6 No. 2 (2021); 1-8en-US
dc.source2708-6178
dc.source2708-616X
dc.subjectCSXen-US
dc.subjectEMHen-US
dc.subjectRWHen-US
dc.subjectUnit Root testen-US
dc.subjectVR testen-US
dc.titleIs CSX Index a Random Walk?en-US
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion

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Journal of Accounting, Finance, Economics, and Social Sciences