COVID-19 and instability of stock market performance: evidence from the U.S.

Financial Innovation

Table 2 Summary Statistics: 01/01/2019–06/30/2020

Variable	Mean	STD	Min	Max	Skewness	Kurtosis	Number of Obs.
\({R}^{S\&P 500}\)	0.0002	0.0078	− 0.0554	0.0389	− 1.0167	16.6603	377
\({R}^{DJIA}\)	0.0001	0.0083	− 0.0601	0.0467	− 1.0053	17.5810	377
\({SI}^{US}\)	1.6079	0.8402	− 0.0460	2.4730	− 0.8568	2.3110	377
\({TS}^{US}\)	0.1596	0.2966	− 0.5240	1.1630	0.1647	2.8855	377
\({DS}^{US}\)	1.0644	0.2477	0.7900	1.9900	1.6558	5.5371	377
\({CVIX}^{US}\)	0.0002	0.0383	− 0.1156	0.1701	1.2662	6.6640	377
\({CTV}^{S\&P 500}\)	0.0004	0.0780	− 0.3730	0.2742	− 0.4012	7.2318	377
\({CTV}^{DJIA}\)	0.0004	0.1010	− 0.4126	0.3744	− 0.1001	5.9482	377

Table 2 reports the mean, standard deviation (STD), minimum (Min), maximum (Max), skewness, kurtosis, and the number of observations (Num of Obs) for both stock index returns and predictor variables over the period January 1st, 2019 to June 30th, 2020