Table 1 Descriptive statistics relevant to the aggregate and sectoral stock returns during the GFC and the COVID-19 Outbreak

0.00003

 − 0.00012

0.05267

 − 0.03915

0.01010

0.08534

5.50460

136.80***

521

 − 0.00004

0.000011

0.03643

 − 0.03516

0.00810

 − 0.36795

5.67120

166.65***

521

0.00004

 − 0.00004

0.06133

 − 0.04725

0.01208

0.08439

5.34716

120.21***

521

0.00013

0.00014

0.04340

 − 0.03090

0.00832

0.18078

5.46723

134.98***

521

 − 0.00003

0.00032

0.04910

 − 0.03971

0.00915

 − 0.25259

6.64768

294.38***

521

 − 0.00003

 − 0.00013

0.05712

 − 0.04806

0.01320

0.15520

5.32365

119.30***

521

 − 0.00035

 − 0.00057

0.04644

 − 0.04689

0.01129

 − 0.01138

5.59722

146.44***

521

 − 0.00017

0.00020

0.03670

 − 0.03709

0.00859

 − 0.48033

5.28166

133.04***

521

 − 0.00001

0.00003

0.05231

 − 0.04666

0.00971

 − 0.31495

6.46511

269.26***

521

0.00028

0.00081

0.02523

 − 0.04475

0.00723

 − 1.55604

10.5141

956.37***

521

0.00080

0.00133

0.02725

 − 0.04411

0.00745

 − 1.65105

10.3738

943.79***

521

0.000001

0.00024

0.03029

 − 0.04478

0.00857

 − 0.93327

7.43105

334.25***

521

0.00032

0.00078

0.01979

 − 0.04371

0.00687

 − 1.74026

11.3833

1191.2***

521

0.00117

0.00137

0.04074

 − 0.06671

0.01155

 − 0.98469

7.78335

386.88***

521

0.00097

0.00102

0.03240

 − 0.04557

0.00885

 − 0.39026

6.05293

143.56***

521

0.00138

0.00251

0.03667

 − 0.06835

0.01375

 − 0.82702

5.59460

136.88***

521

0.000445

0.000892

0.031351

 − 0.0513

0.009723

 − 1.12728

7.32664

344.15***

521

0.000711

0.000954

0.028453

 − 0.04316

0.008132

 − 0.9465

7.25489

313.56***

521