Table 9

Rankings of stock exchange indices with positive relationship between transaction volume and price changes

ρPrice-volume relation
1. China*0.195446Significant
2. UAE*0.001421Significant
3. Qatar*0.000600Significant
4. Malaysia**0.000569Insignificant
5. Poland**0.000492Insignificant
6. Tunisia**0.000033Insignificant
7. Portugal**0.000014Insignificant

Note(s): *Countries with a significant relationship between trading volume and volatility. **Countries where no statistically significant relationship could be found between trading volume and volatility

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