한국 주식시장에서 산업별 지수와 날씨요인간의 상관성 분석

We analyze the relationship between weather variables and industry sector indices basedon the bounded rationality of investors in the economy using daily data from 2008 to 2011. We find that humidity and cloud cover have become highly related to all industry sectors. These results argue that weather information that influence the psychological socialphenomena should affect the investment strategies. Our results show the psychological effectof investors in economic systems playing a much more important role in terms of the assetpricing or portfolio theory KCI Citation Count: 1