Performance of Islamic and conventional stock indices: empirical evidence from an emerging economy

Financial Innovation

Table 1 Descriptive Statistics

Index Name	Mean	Median	Maximum	minimum	S.D.	Skewness	Kurtosis	Jarqiue-Bera
Conventional index (KSE-100)	67.004	62.01	134.7	20.88	22.01	−0.882	3.29	3322.32*
Islamic Index (KMI-30)	35.17	28.71	77.33	8.76	20.55	−0.547	1.974	3886.09*
INT (Interest Rate)	13.12	10.32	15.3	1.45	1.94	0.752	2.87	4721.12*
FX (Foreign Exchange)	69.813	62.71	86	59.71	10.48	0.391	1.31	1573.05*

Correlation between the indices (0.86324)
Note: *Significant at 1 % level; **Significant at 5 % level; ***Significant at 10 % level