Are life insurance futures a safe haven during COVID-19?

Financial Innovation

Table 3 The descriptive statistics of the variables

Variables	dp_HDFC	dp_ICICI	dp_SBIL	dp_TWN	dm_IND	dm_TWN	dc_IND	dc_TWN
Mean	0.0006	0.0005	0.0012	0.0002	0.0007	0.0012	0.0476	0.0208
Std. Dev	0.0257	0.0310	0.0159	0.0210	0.0163	0.0128	0.1381	0.0565
Skewness	− 0.9420	− 0.4030	− 0.2646	− 0.2931	− 0.7503	− 0.3911	7.5797	4.8894
Kurtosis	18.376	22.574	4.4994	10.074	9.8553	7.0927	75.673	30.787
JB	3399.7	5789.1	31.605	749.49	742.83	258.26	83,127.5	12,908.1
P-value	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000

JB is the value of Jarque Bera for normality testing. The testing periods of lp_HDFC, lp_ICICI, and lp_SBIL is the research period indicated by the variables in the last column of Table 1. The testing periods of lm_IND and lc_IND are 2020/01/22 ~ 2021/0714, whichever is the most extended period for the test