The article analyzes how the Turkish stock market is affected by changes in oil prices, focusing on extreme events. By studying data from 1988 to 2011, the researchers found a stronger connection between oil prices and the stock market in the years 2000-2011 compared to 1988-1999. They discovered that extreme negative events in both oil prices and the stock market tend to happen together more often than extreme positive events. This suggests that portfolio managers could benefit from diversifying their investments to reduce risk.