Relationship Between Bitcoin and Islamic Stock Indices During the COVID-19 Pandemic and the Russia-Ukraine Crisis

Hashim Jusoh, AbdelKader Ouatik EL Alaoui, Amina Dchieche, Ahmad Faizol Ismail and Rosalan Ali ()
Additional contact information
Rosalan Ali: Research Institute for Islamic Products and Malay Civilization (INSPIRE)

Asian Economics Letters, 2024, vol. 4, issue 3, 1-8

Abstract: We analyze the relationship between Bitcoin and major regional Islamic stock indices during two major events: COVID-19 and the Russia-Ukraine war. The multi-horizon analysis provide evidence of low correlation between Bitcoin’s inter-temporal returns and Islamic indices returns during periods before extreme events. However, there is limited potential for diversification in the long run as their correlations increase significantly. During shocks, Bitcoin cannot be a safe haven for Islamic markets.

Keywords: Cryptocurrency; Islamic stock indices; Bitcoin; Wavelet; Covid-19 and Russia-Ukraine war; Shock (search for similar items in EconPapers)
JEL-codes: C22 C58 E44 G01 G15 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://a-e-l.scholasticahq.com/api/v1/articles/74 ... a-ukraine-crisis.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ayb:jrnael:107

Access Statistics for this article

Asian Economics Letters is currently edited by Chun-Ping Chang (Shih Chien University, Taiwan) and Professor Chien-Chiang Lee (Nanchang University, China)

More articles in Asian Economics Letters from Asia-Pacific Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Asia-Pacific Applied Economics Association ().