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The contagion effects of the COVID-19 pandemic: evidence from gold and cryptocurrencies

Corbet, Shaen orcid logoORCID: 0000-0001-7430-7417, Larkin, Charles orcid logoORCID: 0000-0002-0352-2504 and Lucey, Brian orcid logoORCID: 0000-0002-4052-8235 (2020) The contagion effects of the COVID-19 pandemic: evidence from gold and cryptocurrencies. Finance Research Letters, 35 . ISSN 1544-6123

Abstract
At the beginning of the 2020 global COVID-2019 pandemic, Chinese financial markets acted as the epicentre of both physical and financial contagion. Our results indicate that a number of characteristics expected during a “flight to safety” were present during the period analysed. The volatility relationship between the main Chinese stock markets and Bitcoin evolved significantly during this period of enormous financial stress. We provide a number of observations as to why this situation occurred. Such dynamic correlations during periods of stress present further evidence to cautiously support the validity of the development of this new financial product within mainstream portfolio design through the diversification benefits provided.
Metadata
Item Type:Article (Published)
Refereed:Yes
Additional Information:Article number: 101554
Uncontrolled Keywords:COVID-19; Coronavirus; Contagion; Stock market; Sentiment
Subjects:Business > Economics
DCU Faculties and Centres:DCU Faculties and Schools > DCU Business School
Publisher:Elsevier
Official URL:https://dx.doi.org/10.1016/j.frl.2020.101554
Copyright Information:© 2020 The Authors. Open Access CC-BY-4.0)
ID Code:25897
Deposited On:26 May 2021 13:48 by Thomas Murtagh . Last Modified 26 May 2021 13:48
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