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This is a Quantitative Study study.

September 21, 2025Open Access

Modelling and Forecasting Sharīʿah-Compliant Stocks

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This analysis predicts stock price volatility in Islamic banks, indicating EMA outperforms ARIMA in accuracy.

The EMA model achieved an accuracy of 99.73%, surpassing the ARIMA model's 87.83%.
Modelling involved three Islamic banks in Indonesia, focusing on short-term stock price forecasts.
The research highlights the unique economic landscape of Indonesia, the largest Muslim population.
Further studies are needed to explore additional models or international markets for enhanced predictions.

Goh et al. (2025) studied this question.

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