Hood, Matthew; Malik, Farooq - In: Review of Financial Economics 22 (2013) 2, pp. 47-52
We evaluate the role of gold and other precious metals relative to volatility (Volatility Index (VIX)) as a hedge (negatively correlated with stocks) and safe haven (negatively correlated with stocks in extreme stock market declines) using data from the US stock market. Using daily data from...