Dynamic Conditional Beta

This study aimed to investigate the performance of diverse stock market indices on the Tehran Stock Exchange during two distinct phases: a boom from September 2022 to December 2022 and a recession from December 2022 to September 2022 in the foreign exchange market. The results of this study diverged from the anticipated outcomes and show that by using dynamic conditional beta and conditional Treynor ratio during the period of exchange rate boom, export-oriented companies such as metals and chemicals in the Tehran Stock Exchange did not perform better than non-export-oriented companies such as Insurance and medicine. While it is always believed that export-oriented firms outperform the others when the Rial depreciates.