Looking for a safe haven against American stocks during COVID-19 pandemic

【Author】 Kliber, Agata

【Source】NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE

【影响因子】3.136

【Abstract】This article aims to find the best safe-haven for stock investors in the American market since the COVID-19 pandemic outbreak. The research period covers March 2020-May 2022. Among the possible alternatives, we analyse the traditional ones: US bonds, gold, and silver, as well as the new ones: stable DeFi and CeFi coins, and most popular cryptocurrencies: Bitcoin and Ether. We study quantile coherency between S&P 500 and each asset and the respective conditional correlation. We show that the safe-haven properties of the assets varied over time and that centralized stablecoins could have been used as safe-haven against American stocks during the pandemics.

【Keywords】Safe haven; Quantile coherency; S&P 500; COVID-19; Stablecoins; DeFi coins; Cryptocurrencies

【发表时间】2022 NOV

【收录时间】2022-12-08

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-市场分析