Do Asian Islamic Equities Offer Diversification Benefits in Cryptocurrency Portfolio in Times of Increased Uncertainty?

This study explores whether Islamic equities offer portfolio diversification benefits to cryptocurrency investors. It employs the Continuous Wavelet Transform model examine nature of coherence between major asset classes and Asian equity markets on different investment horizons. We consider a range indices for multiple countries basket three prominent cryptocurrencies: Bitcoin, Ethereum Ripple. Findings suggest that opportunities. Our findings also imply are not efficient prone short-term speculative activities.