The objective of this paper is to analyze the effect of oil and cocoa price fluctuations on the stock prices of the BRVM and the Nigeria Stock Exchange (NSE). Using a coherent wavelet analysis on daily data from January 2015 to November 2022. Our results show that the stock prices of BRVM and NSE are affected by oil prices. Moreover, evidence of bidirectional volatility contagion is found between cocoa prices and BRVM prices.
Keywords: Wavelets, volatility, stock prices.
CJEA