in correlation to the market implying that IFSIs volatility may be independent of the market due to assets that require … philosophy of risk sharing and strict rules governing its activities to be in line with Islamic Law (the Shariah), the industry … Malaysian IFSIs are investigated to gain insights into their performance in terms of volatility and correlations with the market …

comovement using the cross-sectional volatility, covariance, and correlation metrics proposed in Adrian (2007). In addition, the … supportive of a strong relationship between cross-sectional covariances and subsequent volatility, suggesting that systemic risk … paper examines whether correlations and covariance are important determinants of future volatility via traditional time …