VİOP 30 Vadeli İşlem Sözleşmesi ile Çeşitli Makroekonomik Faktörler Arasındaki İlişkinin İncelenmesi (Nicel Araştırma)

One of the contracts that investors can trade in the futures market is futures contracts. In these markets, investors are able to perform their transactions using any of the portfolio diversification, hedging and arbitrage options. Therefore, the factors affecting the return, trading volume and volatility of the contract for both portfolio diversification and hedging and arbitrage options are importance for investors . In this study, it is aimed to contribute to the performance of portfolio managers and to manage the risks of investors who want to avoid risk by revealing the dynamics of the VIOP 30 futures contract on the basis of return, volume and volatility. Therefore, the aim of this study is to examine macroeconomic factors affecting VİOP 30 futures contract return, volume and volatility traded in the futures and options market. For this aim, the monthly frequency data of 11 macroeconomic indicators, which are expected to affect returns, volume and volatility, were used based on the relevant literature. The fact that a large number of macroeconomic variables are included in a single study both differentiates the study from other studies in the literature and provides significant convenience to the users who will benefit from the study results. However, it is thought that the study will contribute to the literature since the relationship between futures contracts and volatility index (VIX) has not been examined before and the number of studies examining the relationship between the futures contracts and macroeconomic factors is limited. The data set of the study consists of monthly data for the period January 2013-December 2017. In the study, stepwise regression analysis was used as a method. The findings of the study, statistically significant results were obtained that some macroeconomic variables affect the return, volume and volatility of VİOP 30 futures contracts, but no significant results with some variables. We believe that the study findings will contribute to the literature.