Assessing connectedness of transportation cryptocurrencies and transportation stocks: Evidence from wavelet quantile correlation

Ritesh Patel, John W. Goodell and Muhammad Zubair Chishti ()

Finance Research Letters, 2023, vol. 58, issue PC

Abstract: We investigate the interconnections between transportation cryptocurrencies and transportation stocks using a wavelet quantile correlation approach. We find transportation cryptocurrencies have a negative relationship with transportation stocks over most conditions and time periods, indicating opportunity for diversifying transportation stocks. However, in contrast, under some conditions, transportation cryptocurrencies have weak, almost economically inconsequential positive connectedness with transportation stocks, Overall, we highlight that transportation cryptocurrencies provide important diversification opportunities for transportation stock.

Keywords: Transportation cryptocurrencies; Transportation equity; Wavelet quantile correlation; Connectedness; Portfolio diversification (search for similar items in EconPapers)
JEL-codes: C58 D53 G15 R42 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pc:s1544612323008760

DOI: 10.1016/j.frl.2023.104504

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