Analysis of Investment Style Changing: The U.S. Stock Market in Apparel Industry During Covid-19

DOI

10.2991/assehr.k.211020.338How to use a DOI?

Keywords

component, Fama-French Model, Apparel Industry, Covid-19, U.S. Stock Market

Abstract

The impact that COVID-19 brought to the financial market all over the world was huge, especially on the stock market. Not only the stock prices became unpredictable, but also the stock traders’ decisions started to change in an unexpected way. This paper focuses on analyzing the U.S. stock market of clothing industry by using Fama-French five factor model, and comparing Fama-French five factor model with other competing asset pricing models, for example Capital Asset Pricing Model. Also, the differences and changes that stock traders makes are discussed in the U.S. stock market after the pandemic of COVID-19. The result shows that the t stats value of SMB (Small Minus Big), HML(High Minus Low) and CMA (Conservative Minus Aggressive) becomes significant after the pandemic. Therefore, it means that the companies with small-scall, value characteristic, and aggressive investment style are more able to be more favored by the investors during this pandemic.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Xinyu Jiang
AU  - Zhuoer Li
AU  - Chenrui Xu
PY  - 2021
DA  - 2021/10/21
TI  - Analysis of Investment Style Changing: The U.S. Stock Market in Apparel Industry During Covid-19
BT  - Proceedings of the 2021 International Conference on Public Relations and Social Sciences (ICPRSS 2021)
PB  - Atlantis Press
SP  - 1256
EP  - 1261
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.211020.338
DO  - 10.2991/assehr.k.211020.338
ID  - Jiang2021
ER  -