Copper

One of the features of a financial market, the stock market, in particular, is the market sentiment which is the overall attitude of investors toward a particular security or financial market. Investors always seek to create a portfolio with minimum risk while maintaining the expected return level. Therefore, perceiving the relationship between the stock returns and markets returns can be helpful for investors to create an optimal portfolio. On this basis, the present study aims at investigating the Dynamic Conditional Correlation (DCC) between the returns on the domestic markets (industry stock market and exchange rate) and foreign markets using monthly data of oil and base metals including total metals, copper, steel and returns on the stock price index in Iran during March 2001 to April 2017 using the Dynamic Conditional Correlation Fractionally Integrated Asymmetric Power ARCH (DCC-FIAPARCH) approach. The obtained results indicate a statistically significant and positive DCC coefficient between metals, industrial products, and copper returns with the stocks returns. Consequently, it is not possible to put each of these assets with the stocks in an identical situation (purchase or sale), but instead they should be always situations for risk control. However, in connection with other markets, DCC is not significant; accordingly, assets can be placed in the investment portfolio together with the stocks.

By development of human scientific abilities, more miracle aspects and wonders of the Qur’an have been recognized. Stating the story of Dhu al-Qarnayn and constructing of dam, verses (Q.18:83-98) have pointed some valuable scientific aspects regarding chemistry, physics and metallurgy. The instruction for the structure reveals the non-accidental process, because the precise expected physical, chemical and metallurgical properties. The three-layer structures of dam with dendrite like microstructure in its matrix will guarantee the durable structure against most chemical destructive agent, mechanical damage and thermal threats. Hence the powerful people of Gog and Magog could not overcome the high tensile strength of iron, high ductility of copper and the high toughness of CuFe alloy. The high thermal and temperature resistance are the evidence for more structural power. Such masterpiece of engineering, in technology of alloying, could not be based on the knowledge of common craftsmen of that time, but it must have been based on superhuman wisdom. Consequently, although the Qur’an is a book of guidance, but it reports some original scientific issues, such as the Dhu al-Qarnayn story. These were not known in the age of revelation and after progressing in science, but the truth of considered issues has been proved. However, because of the clear instruction, and the precise prediction of properties, it is possible to use the verses as an excellent idea for scientific advancement, rather than reporting events.