This research offers the first analysis of whether gold, treasury bills, Overnight Index Swaps (OIS), or Interbank Offered Rates (IBOR) can be used as proxies for risk-free assets in the UK, the US, China, Japan, and India. Using Black’s (1972) zero-beta capital asset pricing model, we apply...

In an era where traditional investment paradigms are being constantly redefined by technological innovation and the global push towards sustainability, Themes in Alternative Investments emerges as a seminal volume designed to guide investors, finance professionals, and scholars through the...

We show that the statistical properties of gold are negatively correlated with equities and that including Gold in a portfolio will provide diversification benefits. As there is no consensus on the proportion of gold that should be included in a strategic portfolio allocation we propose a visual...

In this paper, we examine the scope for international stock portfolio diversification, from the viewpoint of a United States representative investor, in regard to both the Asian and the European stock markets. Our findings indicate that despite correlation style evidence to the contrary, the...