Cryptocurrencies versus environmentally sustainable assets: Does a perfect hedge exist?

【Author】 Anwer, Zaheer; Farid, Saqib; Khan, Ashraf; Benlagha, Noureddine

【Source】INTERNATIONAL REVIEW OF ECONOMICS & FINANCE

【影响因子】3.399

【Abstract】In the wake of proliferation of cryptocurrencies and growing concerns regarding their environmental impact, we investigate the dynamic co-movement of digital assets and environmentally sustainable assets. We use daily data of five global indices from 01 March 2017 to 15 May 2022. The results suggest that environmentally sustainable indices and cryptocurrency indices demonstrate co-movements during pandemic. However, in the normal times, they mostly remain detached from each other. Therefore, it can be argued that both the asset classes can serve as hedge against each other. The findings carry important implications for the investment industry and regulators.

【Keywords】Cryptocurrency; Environmentally sustainable assets; Clean energy; Wavelet

【发表时间】2023 MAY

【收录时间】2023-04-05

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