Impact of COVID-19 effective reproductive rate on cryptocurrency

Financial Innovation

Table 11 F-test for the rest of coefficients of the Model 2A with absolute value of the Spread as independent variable

	Autoregresive		DJI		Gold		EUR		VIX
Crypto	F-AR	p-value	FDJI-AR	p-value	FGOLD-AR	p-value	FEUR-AR	p-value	FVIX-AR	p-value
BTC	14.3671	0.0000	0.5407	0.5827	0.5336	0.4651	0.0674	0.9348	1.1236	0.3391
ETH	23.6377	0.0000	0.5474	0.5788	1.2657	0.2606	0.3955	0.7563	0.7643	0.3820
USDT	21.8440	0.0000	1.9251	0.1247	0.7991	0.4504	0.7698	0.4637	7.2713	0.0070
XRP	15.6709	0.0000	0.0650	0.7988	1.0035	0.3910	0.7177	0.5418	0.8321	0.4358
LTC	204.3897	0.0000	2.0556	0.1517	0.3967	0.5288	2.0571	0.1515	0.1886	0.6641
BCH	8.8588	0.0000	84,307.0200	0.0000	0.6409	0.4234	9.0358	0.0001	0.4049	0.5246
ADA	13.3305	0.0000	0.9597	0.3273	2.5902	0.1075	5.5008	0.0190	2.0539	0.1056
BNB	14.8008	0.0000	0.7775	0.4602	0.0006	0.9799	0.8579	0.4629	0.1381	0.7102