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Financial Innovation
Fig. 2 | Financial Innovation

Fig. 2

From: Volatility contagion between cryptocurrencies, gold and stock markets pre-and-during COVID-19: evidence using DCC-GARCH and cascade-correlation network

Fig. 2

Prices and values of bitcoin, gold, and the six international stock indices CFDs. BTC: Bitcoin, XAU: Gold, JPN: Nikkei 225, SPX: S&P 500, UK: FTSE 100, CHN: China A50, DEU: DAX and CAC: CAC 40. In this Figure, the horizontal axis shows the number of days, and the vertical axis shows values of stock market indices, gold prices, and Bitcoin prices. This Figure suggests a similarity in the volatility between Bitcoin, gold, and the six stock market indices from January 2, 2011, to June 2, 2022, and, in particular, with the COVID-19 pandemic (e.g., between 2000 and 2500 days on the horizontal line)

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