Hedges and Safe Havens An Examination of Stocks, Bonds, Oil, Gold and the Dollar
Item Type:Working Paper
Citation:Ciner, Cetin, Gurdgiev, Constantin and Lucey, Brian M., Hedges and Safe Havens An Examination of Stocks, Bonds, Oil, Gold and the Dollar, 2011
Hedges and Safe Havens ? An Examination of Stocks, Bonds, Oil, Gold and the Dollar.pdf (working paper) 189.9Kb
We investigate five major financial asset classes, examining how and under what circumstances each may act as a hedge or a safe haven to each other. Using the approach of Baur and Lucey (2010) and Baur and McDermott (2010) we find that , in line with conventional investment strategies, gold acts as a safe haven for most assets, except oil. Bonds do not appear to be a longterm hedge against equity price movements but do act as a safe haven for equities.
Type of material:Working Paper
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