Economics, Econometrics and Finance
a year ago

S&P 500 Index Holds More Influence on Pfizer Stock Returns Than NASDAQ

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Applied economics and policy studies
Comparing the S&P 500 Index’s and the NASDAQ Index’s Influence on Pfizer’s Stock Returns
Jinglun Wu

Paper Summary

The study compared the influence of the S&P 500 Index and the NASDAQ Index on Pfizer's stock returns. They found that changes in the S&P 500 Index had a greater impact on Pfizer's stock return than changes in the NASDAQ Index. The study also showed that different indexes resulted in different risk measures for Pfizer, casting doubt on the accuracy of the Capital Asset Pricing Model for Pfizer's stock if the portfolio is not truly diversified.

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