Balancing Portfolios with Metals: A Safe Haven for Green Energy Investors?

Rui Manuel Dias (), Mariana Chambino, Nuno Teixeira, Paulo Alexandre and Paula Heliodoro
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Rui Manuel Dias: Center for Advanced Studies in Management and Economics, University of Évora, 7000-812 Évora, Portugal
Mariana Chambino: Instituto Politécnico de Setúbal, ESCE-Escola Superior de Ciências Empresariais, 2910-761 Setúbal, Portugal
Nuno Teixeira: Instituto Politécnico de Setúbal, ESCE-Escola Superior de Ciências Empresariais, 2910-761 Setúbal, Portugal
Paulo Alexandre: Instituto Politécnico de Setúbal, ESCE-Escola Superior de Ciências Empresariais, 2910-761 Setúbal, Portugal
Paula Heliodoro: Instituto Politécnico de Setúbal, ESCE-Escola Superior de Ciências Empresariais, 2910-761 Setúbal, Portugal

Energies, 2023, vol. 16, issue 20, 1-21

Abstract: This study investigates the relationship between energy metals and precious metals to assess their suitability as safe haven assets in clean energy investment portfolios. This study aims to conduct an effect analysis of the events that occurred during the years 2020 and 2022, characterized by substantial investments in the field of clean energy. The analysed period encompasses the period from 13 July 2018 to 11 July 2023. The study is carried out in multiple stages with the aim of investigating a highly tumultuous period in the global economy. To assess long-term relationships, the econometric methodology proposed by Gregory and Hansen will be employed. The research shows a positive association between energy metals (excluding nickel futures) and clean energy indexes, suggesting their potential as secure investments for green investors diversifying their portfolios. Additionally, the study confirms the reliability of precious metals, such as gold, silver, and platinum as safe havens for clean energy stock indexes. These findings highlight the stability that both energy and precious metals can offer within clean energy portfolios during market volatility, emphasizing their value in such investment strategies. In brief, this study affirms that energy and precious metals are invaluable pillars in the structure of clean energy portfolios, offering unwavering support during market turbulence.

Keywords: clean energy stocks; energy metals; gold; silver; platina; safe haven (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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