The cryptocurrency market is a complex and rapidly evolving fnancial landscape in which understanding the inter- and intra-asset dependencies among key fnancial variables, such as return and liquidity, is crucial. In this study, we analyze daily return and liquidity data for six major...

Rainfall is an important source of covariate shock in developing countries. Insurance against a rainfall index has, therefore, held much promise as a formal insurance product to protect the livelihoods of poor farmers. But how good is rainfall as a measure of covariate shocks? The imperfect...