Twitter matters for metaverse stocks amid economic uncertainty

Ahmet Faruk Aysan, Jonathan Batten, Giray Gözgör, Rabeh Khalfaoui () and Zhamal Nanaeva
Additional contact information
Ahmet Faruk Aysan: HBKU - Hamad Bin Khalifa University [Doha, Qatar]
Rabeh Khalfaoui: ICN Business School, CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine
Zhamal Nanaeva: HBKU - Hamad Bin Khalifa University [Doha, Qatar]

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Abstract: This paper examines the influence of economic uncertainty, measured by the Twitter-based economic uncertainty index (TEU), on Metaverse stocks across various time-frequency domains. Employing the Wavelet Local Multiple Correlation analyses, we find a robust correlation between the TEU and Metaverse stocks market across all examined time horizons. Moreover, the findings confirm the positive correlation by including crude oil and gold volatilities. Obtained results bear significant policy implications for investors and traders, emphasizing the importance of considering economic uncertainty in decision-making processes.

Keywords: Wavelet Local Multiple Correlation; crude oil volatility; gold volatility; Metaverse stocks; Twitter-based economic uncertainty index (search for similar items in EconPapers)
Date: 2023-09
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Citations: View citations in EconPapers (8)

Published in Finance Research Letters, 2023, 56, pp.104116. ⟨10.1016/j.frl.2023.104116⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04316403

DOI: 10.1016/j.frl.2023.104116

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