Corbet, Shaen ORCID: 0000-0001-7430-7417, Larkin, Charles ORCID: 0000-0002-0352-2504 and Lucey, Brian ORCID: 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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