Performance of gold-backed cryptocurrencies during the COVID-19 crisis

This study is aimed at investigating the performance of Gold-backed cryptocurrencies during the COVID-19 crisis and in particular, during the bear market of 2020. Analysis is conducted on the daily returns of PAX Gold from 2 October 2019 to 28 September 2020 using the ARMA-GARCH model. The results a...

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Detalles Bibliográficos
Autores principales: Wasiuzzaman, Shaista, Haji Abdul Rahman, Hajah Siti Wardah
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Inc. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8597114/
https://www.ncbi.nlm.nih.gov/pubmed/34803529
http://dx.doi.org/10.1016/j.frl.2021.101958
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author Wasiuzzaman, Shaista
Haji Abdul Rahman, Hajah Siti Wardah
author_facet Wasiuzzaman, Shaista
Haji Abdul Rahman, Hajah Siti Wardah
author_sort Wasiuzzaman, Shaista
collection PubMed
description This study is aimed at investigating the performance of Gold-backed cryptocurrencies during the COVID-19 crisis and in particular, during the bear market of 2020. Analysis is conducted on the daily returns of PAX Gold from 2 October 2019 to 28 September 2020 using the ARMA-GARCH model. The results are compared with those of Paxos Standard (PAX) and Gold during the same period. The results show the mean returns of the three financial instruments increase during crisis periods but the increase is insignificant. PAX Gold experiences increased volatility during the COVID-19 crisis and the bear market but the increase is insignificant.
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spelling pubmed-85971142021-11-17 Performance of gold-backed cryptocurrencies during the COVID-19 crisis Wasiuzzaman, Shaista Haji Abdul Rahman, Hajah Siti Wardah Financ Res Lett Article This study is aimed at investigating the performance of Gold-backed cryptocurrencies during the COVID-19 crisis and in particular, during the bear market of 2020. Analysis is conducted on the daily returns of PAX Gold from 2 October 2019 to 28 September 2020 using the ARMA-GARCH model. The results are compared with those of Paxos Standard (PAX) and Gold during the same period. The results show the mean returns of the three financial instruments increase during crisis periods but the increase is insignificant. PAX Gold experiences increased volatility during the COVID-19 crisis and the bear market but the increase is insignificant. Elsevier Inc. 2021-11 2021-02-05 /pmc/articles/PMC8597114/ /pubmed/34803529 http://dx.doi.org/10.1016/j.frl.2021.101958 Text en © 2021 Elsevier Inc. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Wasiuzzaman, Shaista
Haji Abdul Rahman, Hajah Siti Wardah
Performance of gold-backed cryptocurrencies during the COVID-19 crisis
title Performance of gold-backed cryptocurrencies during the COVID-19 crisis
title_full Performance of gold-backed cryptocurrencies during the COVID-19 crisis
title_fullStr Performance of gold-backed cryptocurrencies during the COVID-19 crisis
title_full_unstemmed Performance of gold-backed cryptocurrencies during the COVID-19 crisis
title_short Performance of gold-backed cryptocurrencies during the COVID-19 crisis
title_sort performance of gold-backed cryptocurrencies during the covid-19 crisis
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8597114/
https://www.ncbi.nlm.nih.gov/pubmed/34803529
http://dx.doi.org/10.1016/j.frl.2021.101958
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