From Integration to Strategy: Deep Learning Insights into Turkey’s Global Financial Linkages

From Integration to Strategy: Deep Learning Insights into Turkey’s Global Financial Linkages | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article From Integration to Strategy: Deep Learning Insights into Turkey’s Global Financial Linkages Haseen Ahmed This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-7738100/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract The linkages among various assets classes are crucial component of global financial integration. In this context this study employs hybrid copula-LSTM and DCC-GARCH Wavelet models to examine the asymmetric and time varying dependence and correlation among Turkish equity market and global financial markets. The data used is from April 2013 to March 2025. The results found that there is asymmetric dependence between Turkish share market and global MSCI share market index, Bitcoin, crude oil, Commodities, US Dollar Index, and green bonds. Further, the DCC-GARCH wavelet correlation finds the stronger correlation with the green bonds, whereas there is weaker correlation among Turkish equity market and global commodity index. The findings have crucial implication for investors and policy makers. The future research can explore the regional and asset specific dependencies based on these models and other hybrid machine learning and deep learning-based models. JEL Codes- G15, F36, C58 Finance Financial Cointegration Deep Learning Wavelets Copula Financial Markets Full Text Additional Declarations The authors declare no competing interests. Cite Share Download PDF Status: Posted Version 1 posted You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. We do this by developing innovative software and high quality services for the global research community. Our growing team is made up of researchers and industry professionals working together to solve the most critical problems facing scientific publishing. Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-7738100","acceptedTermsAndConditions":true,"allowDirectSubmit":true,"archivedVersions":[],"articleType":"Research Article","associatedPublications":[],"authors":[{"id":521970470,"identity":"7e57ac14-9a22-4758-b494-7b1d54d134a0","order_by":0,"name":"Haseen 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Linkages\u003c/strong\u003e\u003c/p\u003e","fulltext":[],"fulltextSource":"","fullText":"","funders":[],"hasAdminPriorityOnWorkflow":false,"hasManuscriptDocX":false,"hasOptedInToPreprint":true,"hasPassedJournalQc":"","hasAnyPriority":true,"hideJournal":true,"highlight":"","institution":"New Delhi Institute of Management","isAcceptedByJournal":false,"isAuthorSuppliedPdf":true,"isDeskRejected":"","isHiddenFromSearch":false,"isInQc":false,"isInWorkflow":false,"isPdf":true,"isPdfUpToDate":true,"isWithdrawnOrRetracted":false,"journal":{"display":true,"email":"[email protected]","identity":"researchsquare","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":true,"externalIdentity":"","sideBox":"","snPcode":"","submissionUrl":"/submission","title":"Research Square","twitterHandle":"researchsquare","acdcEnabled":true,"dfaEnabled":false,"editorialSystem":"","reportingPortfolio":"","inReviewEnabled":false,"inReviewRevisionsEnabled":true},"keywords":"Financial Cointegration, Deep Learning, Wavelets, Copula, Financial Markets","lastPublishedDoi":"10.21203/rs.3.rs-7738100/v1","lastPublishedDoiUrl":"https://doi.org/10.21203/rs.3.rs-7738100/v1","license":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/"},"manuscriptAbstract":"\u003cp\u003e\u003cem\u003eThe linkages among various assets classes are crucial component of global financial integration. In this context this study employs hybrid copula-LSTM and DCC-GARCH Wavelet models to examine the asymmetric and time varying dependence and correlation among Turkish equity market and global financial markets. The data used is from April 2013 to March 2025. The results found that there is asymmetric dependence between Turkish share market and global MSCI share market index, Bitcoin, crude oil, Commodities, US Dollar Index, and green bonds. Further, the DCC-GARCH wavelet correlation finds the stronger correlation with the green bonds, whereas there is weaker correlation among Turkish equity market and global commodity index. The findings have crucial implication for investors and policy makers. The future research can explore the regional and asset specific dependencies based on these models and other hybrid machine learning and deep learning-based models.\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003e\u003cem\u003eJEL Codes- G15, F36, C58\u003c/em\u003e\u003c/p\u003e","manuscriptTitle":"From Integration to Strategy: Deep Learning Insights into Turkey’s Global Financial Linkages","msid":"","msnumber":"","nonDraftVersions":[{"code":1,"date":"2025-10-01 11:42:21","doi":"10.21203/rs.3.rs-7738100/v1","editorialEvents":[{"type":"communityComments","content":0}],"status":"published","journal":{"display":true,"email":"[email protected]","identity":"researchsquare","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":true,"externalIdentity":"","sideBox":"","snPcode":"","submissionUrl":"/submission","title":"Research Square","twitterHandle":"researchsquare","acdcEnabled":true,"dfaEnabled":false,"editorialSystem":"","reportingPortfolio":"","inReviewEnabled":false,"inReviewRevisionsEnabled":true}}],"origin":"","ownerIdentity":"7eb6b22f-9ad5-4e41-8471-8d5ea800b395","owner":[],"postedDate":"October 1st, 2025","published":true,"recentEditorialEvents":[],"rejectedJournal":[],"revision":"","amendment":"","status":"posted","subjectAreas":[{"id":55473917,"name":"Finance"}],"tags":[],"updatedAt":"2025-10-01T11:42:21+00:00","versionOfRecord":[],"versionCreatedAt":"2025-10-01 11:42:21","video":"","vorDoi":"","vorDoiUrl":"","workflowStages":[]},"version":"v1","identity":"rs-7738100","journalConfig":"researchsquare"},"__N_SSP":true},"page":"/article/[identity]/[[...version]]","query":{"redirect":"/article/rs-7738100","identity":"rs-7738100","version":["v1"]},"buildId":"8U1c8b4HqxoKbykW_rLl7","isFallback":false,"isExperimentalCompile":false,"dynamicIds":[84888],"gssp":true,"scriptLoader":[]}