The article examines how different stock markets are connected by looking at how stock prices move together. They studied the S&P 500, KOSPI 200, and DSE markets to see how their stocks' prices changed over time. By using correlation techniques, they found that developed and emerging markets have stronger connections during big crashes, while developing markets show less impact during crises. The study also discovered that before a market crash, stocks interact less, leading to lower average correlations. Changes in correlation can help predict the financial state of markets, aiding stakeholders in making better economic decisions.