Sinem PekerBora AktanPeker, SinemAktan, BoraJ StankevicieneR GineviciusAV Rutkauskas2025-10-062014978-609-457-649-297860945764922029-444110.3846/bm.2014.037http://dx.doi.org/10.3846/bm.2014.037https://gcris.yasar.edu.tr/handle/123456789/6917https://doi.org/10.3846/bm.2014.037Grouping the major indices of stock markets based on their homogeneities may facilitate the selection period for investors especially today's information rich financial world. This paper attempts to detect and group the homogenous stock indices in Europe both throughout the crisis and non-crisis periods. The daily index returns of leading stock exchanges over the period 03.01.2007-09.04.2013 are considered, one of the hierarchical clustering techniques so-called Ward's Method is applied and similar cases are evaluated respectively. Then Wilcoxon signed rank test is employed for the same periods on daily index returns and meaningful differences are found.Englishinfo:eu-repo/semantics/closedAccessCluster analysis, European stock exchanges, Index, financial crisis, non-parametric testMUTUAL FUNDSNon-Parametric TestINDEXFinancial CrisisEuropean Stock ExchangesCluster AnalysisConference Object