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    Volatility in Islamic Capital Markets: A Comparative Analysis on Islamic Stock Indices
    (Maliye Bakanligi, 2024) Delice, Guven; Tuncay, Merve
    In this study, volatility analysis was conducted on daily data for the period 2013-2023 for the Dow Jones Global Index (W1DOW) and Dow Jones Islamic Market World Index (DJIM) published by S&P to compare the volatilities of traditional finance and Islamic finance markets. For the analysis, 6 different volatility models were applied to determine the most appropriate model and an evaluations were made accordingly. Findings indicate that, the most appropriate volatility model for both indices is the EGARCH model and the performance of the two indices in terms of volatility follows a similar trend.In this context, it can be said that Islamic finance markets, which represent a relatively new area within the global financial system, have demonstrated a successful performance against traditional markets with aAlong history and high transaction volume.