  Financial market volatility is a crucial factor for investment planning,
option pricing, and financial market regulation, and technology is widely
recognized as a key driver of economic growth. In this project, we investigate
the co-movement of technology and non-technology sectors over the last two
decades. We identify a decoupling phenomenon in the levels and volatility of
the two sectors after 2015 and argue that this cannot be attributed to the
COVID-19 shock. Furthermore, we demonstrate that the technology sector serves
as a leading indicator of growth for the rest of the economy. Using ARIMA
modeling and stationarity tests, we process time series data to test our
hypotheses, finding that the technology sector follows an ARIMA(3,1,3) model,
while the non-technology sector follows an ARIMA(2,1,4) model. Our analysis
encompasses data wrangling, pre-processing, missing value treatment, and
exploratory data analysis, and we discuss the merits and shortcomings of our
work to aid in the interpretation of our results. Overall, our findings shed
new light on the relationship between technology and economic growth. Our
results can be used for understanding labor market fluctuations in the
technology sector and investment planning assessments.
