The gold-stock market relationship during COVID-19

被引：47

作者：

Drake, Pamela Peterson ^{[1
]}

机构：

[1] James Madison Univ, Dept Finance & Business Law, Harrisonburg, VA 22807 USA

来源：

FINANCE RESEARCH LETTERS | 2022年 / 44卷

关键词：

COINTEGRATION;

D O I：

10.1016/j.frl.2021.102111

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The belief that investors shift to gold during times of economic stress, resulting in a negative correlation between gold returns and stock returns, is not supported in both the 2007-09 financial crisis and during COVID-19. However, the gold-stock market relationship is positive in periods of negative real rates of return. The evidence points to gold as a safe haven in times of stock market volatility and negative interest rates.

引用

页数：7

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