Research on the Quantitative Causal Transmission of Stock Price Fluctuations of Listed Companies in the Rare Earth Industry Chain

Table 13

Fluctuation transmission path in the direction of the industrial chain.

Causal category	Transmission path	Causal strength
		Upstream⟶midstream	Midstream⟶downstream
Positive causal	000831.SZ⟶300127.SZ⟶600459.SH	0.6781	0.6131
	600259.SH⟶000969.SZ⟶600459.SH	0.6659	0.6633
	600259.SH⟶300127.SZ⟶600459.SH	0.6629	0.6131
	000831.SZ⟶000970.SZ⟶600459.SH	0.6629	0.6424
	601600.SH⟶000969.SZ⟶600459.SH	0.6559	0.6633
	000831.SZ⟶600366.SH⟶600459.SH	0.6519	0.6156
	600259.SH⟶000970.SZ⟶600459.SH	0.6471	0.6424
	000831.SZ⟶600206.SH⟶002176.SZ	0.5821	0.5359
	601600.SH⟶600366.SH⟶600459.SH	0.5671	0.6156
	000831.SZ⟶000969.SZ⟶600459.SH	0.5636	0.6633
Negative causal	A.A.M⟶4063.T⟶002196.SZ	0.2920	0.2523
	A.A.M⟶000970.SZ⟶7267.T	0.2765	0.2659
	A.A.M⟶6762.T⟶300032.SZ	0.2676	0.2409
	601600.SH⟶GE.N⟶002196.SZ	0.2676	0.2712
	A.A.M⟶600366.SH⟶6954.T	0.2656	0.2804
	600259.SH⟶6762.T⟶300032.SZ	0.2566	0.2409
	600259.SH⟶5486.T⟶002249.SZ	0.2560	0.2369
	000831.SZ⟶GE.N⟶002196.SZ	0.2536	0.2712
	600259.SH⟶4183.T⟶600580.SH	0.2529	0.2796
	LYC.AX⟶GE.N⟶002196.SZ	0.2511	0.2712
Unclear causal	601600.SH⟶4188.T⟶6506.T	0.2899	0.2515
	601600.SH⟶GE.N⟶7267.T	0.2801	0.3497
	600259.SH⟶5486.T⟶300032.SZ	0.2376	0.2206
	000831.SZ⟶6762.T⟶600580.SH	0.2327	0.2286
	000831.SZ⟶000969.SZ⟶6503.T	0.1856	0.1945