DO ISLAMIC CRYPTOCURRENCIES PROVIDE DIVERSIFICATION OPPORTUNITIES TO INDONESIAN ISLAMIC INVESTORS?

نویسندگان

چکیده

This study examines whether Islamic gold-backed cryptocurrencies (Onegram and X8X) provide any diversification benefits to the investors of Indonesia. We co-movements between return volatility Indonesian equity indices during pre-COVID-19 COVID-19 periods. employ Multivariate Generalized Autoregressive Conditional Heteroscedastic-Dynamic Correlation (M-GARCH-DCC) Continuous Wavelet Transforms (CWT) for this study. find that crisis enhanced spillover effect among equities. also evidence may invest in minimize sector risks pandemic. Our results bear significant implications portfolio strategies investors.

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ژورنال

عنوان ژورنال: Journal of Islamic Monetary Economics and Finance

سال: 2022

ISSN: ['2460-6618', '2460-6146']

DOI: https://doi.org/10.21098/jimf.v8i3.1563