During times of market turmoil, investors often seek to mitigate the risk associated with traditional investment assets such as equities and debt. The hedging, safe-haven and downside risk reduction properties of gold are examined in this paper for investors with short- and long-run horizons....

What can we learn about a physical commodity by studying its hedging characteristics? We use a hedging study to shed light on important properties of ethanol (a developing market) and corn (a mature market). Our three primary innovations are empirical, with implications for all storable...

The hedging and safe haven properties of Bitcoin for the US dollar are investigated across a variety of investment horizons. Our findings reveal that (i) Bitcoin acts as a weak hedge for all currency pairs examined, with some evidence of negative average dependency for Euro, Swiss Franc and...

This paper investigates the hedging effectiveness of a dynamic moving window OLS hedging model, formed using wavelet decomposed time-series. The wavelet transform is applied to calculate the appropriate dynamic minimum-variance hedge ratio for various hedging horizons for a number of assets. The...

Crude oil is prone to large upward price shocks, creating challenges for personal and corporate budgeting. In this paper, we systematically assess a range of possible shock havens against large oil price shocks. Empirical tests uncover a rich set of assets which act both as hedges and shock...