Research of Mutual Influence of Equities, Gold, Oil and Digital Financial Asset Markets

This research is dedicated to determining the degree of interrelation of national stock markets among themselves, as well as the mutual influence of indices, price of gold, oil and digital financial assets. In the context of globalization of the world economy, the interrelation of national stock markets increases. Along with the economic performance indicators of the enterprise, the dynamics of the indices of the national stock exchanges of the developed and largest developing economies of the world are having an increasing influence on the stock exchanges index. The emerging market of digital electronic assets is becoming increasingly vital, which necessitates empirical research and testing of traditional hypotheses and models transferred to this market from the classical world of finance. In connection with the above, it is of particular interest to develop questions of the degree of influence of these factors on the Russian stock market index in order to assist investors and traders in making decisions on investing funds, which determines the relevance of this study. As a result of the study, significant interrelationships between the variables were identified. The decisive role throughout all periods was rendered by the index of the US stock market, Russia, as well as the price of oil. The impact of bitcoin on global stock indices confirmed its active integration into the global financial market. In turn, digital gold was influenced by the indices S&P500, RTS and the negative influence from the price of gold. The Russian stock market index turned out to be dependent on the long-term influence of America, and the cost of oil. In the short term, the RTS influenced Britain, Germany and China.