Gold and Cryptocurrency as Safe Haven Assets for Commodities, Stocks, and Bonds: Evidence from the Russia-Ukraine War
This research was conducted to determine whether gold and cryptocurrency (i.e., Bitcoin) can be used as safe haven assets for oil, wheat, stock index (SI), government bond (GB), Islamic stock (IS), and Islamic bond (IB) during the Russia-Ukraine war. We used panel quantile regression by utilizing ex...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
EDP Sciences
2023-01-01
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| Series: | E3S Web of Conferences |
| Online Access: | https://www.e3s-conferences.org/articles/e3sconf/pdf/2023/63/e3sconf_icobar23_01082.pdf |
| _version_ | 1797673565033594880 |
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| author | Amalina Hazrati Havidz Shinta Indah Rahmadani Ni Putu Laura Aditya Tori Priscilla |
| author_facet | Amalina Hazrati Havidz Shinta Indah Rahmadani Ni Putu Laura Aditya Tori Priscilla |
| author_sort | Amalina Hazrati Havidz Shinta |
| collection | DOAJ |
| description | This research was conducted to determine whether gold and cryptocurrency (i.e., Bitcoin) can be used as safe haven assets for oil, wheat, stock index (SI), government bond (GB), Islamic stock (IS), and Islamic bond (IB) during the Russia-Ukraine war. We used panel quantile regression by utilizing extreme lower quantiles (i.e., 1%, 2.5%, 5%). It will only be recognized as a safe haven asset if it is negatively correlated with another asset during extreme adverse shocks. The data spans from 23 February 2021 – 25 July 2022 which covered the five largest economies in Europe and Asia (i.e., Germany, France, the UK, China, and Japan). The findings indicate that gold only acted as a safe haven asset for wheat, SI, and IS during the Russia-Ukraine war. Additionally, Bitcoin only serves as a safe haven asset for oil, wheat, SI, and GB during the Russia-Ukraine war. |
| first_indexed | 2024-03-11T21:46:12Z |
| format | Article |
| id | doaj.art-135a3e85cdde45f88442ba17070663b1 |
| institution | Directory Open Access Journal |
| issn | 2267-1242 |
| language | English |
| last_indexed | 2024-03-11T21:46:12Z |
| publishDate | 2023-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | E3S Web of Conferences |
| spelling | doaj.art-135a3e85cdde45f88442ba17070663b12023-09-26T10:11:52ZengEDP SciencesE3S Web of Conferences2267-12422023-01-014260108210.1051/e3sconf/202342601082e3sconf_icobar23_01082Gold and Cryptocurrency as Safe Haven Assets for Commodities, Stocks, and Bonds: Evidence from the Russia-Ukraine WarAmalina Hazrati Havidz Shinta0Indah Rahmadani Ni Putu1Laura Aditya Tori Priscilla2Finance Program, Accounting Department, School of Accounting, Bina Nusantara UniversityFinance Program, Accounting Department, School of Accounting, Bina Nusantara UniversityFinance Program, Accounting Department, School of Accounting, Bina Nusantara UniversityThis research was conducted to determine whether gold and cryptocurrency (i.e., Bitcoin) can be used as safe haven assets for oil, wheat, stock index (SI), government bond (GB), Islamic stock (IS), and Islamic bond (IB) during the Russia-Ukraine war. We used panel quantile regression by utilizing extreme lower quantiles (i.e., 1%, 2.5%, 5%). It will only be recognized as a safe haven asset if it is negatively correlated with another asset during extreme adverse shocks. The data spans from 23 February 2021 – 25 July 2022 which covered the five largest economies in Europe and Asia (i.e., Germany, France, the UK, China, and Japan). The findings indicate that gold only acted as a safe haven asset for wheat, SI, and IS during the Russia-Ukraine war. Additionally, Bitcoin only serves as a safe haven asset for oil, wheat, SI, and GB during the Russia-Ukraine war.https://www.e3s-conferences.org/articles/e3sconf/pdf/2023/63/e3sconf_icobar23_01082.pdf |
| spellingShingle | Amalina Hazrati Havidz Shinta Indah Rahmadani Ni Putu Laura Aditya Tori Priscilla Gold and Cryptocurrency as Safe Haven Assets for Commodities, Stocks, and Bonds: Evidence from the Russia-Ukraine War E3S Web of Conferences |
| title | Gold and Cryptocurrency as Safe Haven Assets for Commodities, Stocks, and Bonds: Evidence from the Russia-Ukraine War |
| title_full | Gold and Cryptocurrency as Safe Haven Assets for Commodities, Stocks, and Bonds: Evidence from the Russia-Ukraine War |
| title_fullStr | Gold and Cryptocurrency as Safe Haven Assets for Commodities, Stocks, and Bonds: Evidence from the Russia-Ukraine War |
| title_full_unstemmed | Gold and Cryptocurrency as Safe Haven Assets for Commodities, Stocks, and Bonds: Evidence from the Russia-Ukraine War |
| title_short | Gold and Cryptocurrency as Safe Haven Assets for Commodities, Stocks, and Bonds: Evidence from the Russia-Ukraine War |
| title_sort | gold and cryptocurrency as safe haven assets for commodities stocks and bonds evidence from the russia ukraine war |
| url | https://www.e3s-conferences.org/articles/e3sconf/pdf/2023/63/e3sconf_icobar23_01082.pdf |
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