What is difference between "stock" and "equity"

Question

One study has suggested that correlation risk is directly priced in equity options, both on individual equities and on indexes (such as VIX) that track systematic, stochastic correlation risk across the market as a whole.88 A study of Chinese equity markets has reached similar conclusions.89 Moreover, stock market returns follow average correlation rather than average variance or volatility.

Answer 1

stock market

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equity markets

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