Automakers Stock Price Movement Comparison under COVID-19

ABSTRACT

In this paper, we compare global automobile manufacturing companies' stock price movement under the pandemic in 2020. The purpose of this work is to investigate the stock price movement of top automobile manufacturing companies. Here, we used machine learning based time series data clustering method. We considered the period of time series stock data from 2020/01/02 to 2021/03/18. In March 2020, around the world, the worst stock price plunge was caused by COVID-19. Then almost all global automakers' stock prices were severely damaged. They, however, recovered gradually their stock prices. On the stock prices, investors' expectations are reflected. The recovery pattern of stock prices can mean the investors' evaluation of the companies. The result of the clustering, contrary to our expectations, shows that the stock prices were likely to move depending on the country, instead of individual companies' performance. The country-based clusters we found are a Japanese companies' cluster, two USA companies' clusters, and two Chinese companies' clusters. In addition, two regional clusters were found which are Asian region cluster and EU region cluster. In the paper we will describe the differences of stock movement patterns among the country-based clusters. © 2021 IEEE.