Volatility spillovers among leading cryptocurrencies and US energy and technology companies

Financial Innovation

Table 3 Summary of descriptive statistics, unit root, and stationarity tests for the return series

	BTC	ETH	USDT	BNB	AAPL	MSFT	GOOGL	AMZN	XOM	CVX	COP	NEE
Mean	0.09	0.12	− 0.001	0.43	0.10	0.08	0.05	0.05	0.02	0.03	0.07	0.05
Median	0.14	0.10	− 0.002	0.13	0.10	0.12	0.11	0.14	0.02	0.08	0.04	0.12
Maximum	24.38	24.75	5.660	73.35	11.32	13.29	9.190	12.69	11.94	20.49	22.49	12.83
Minimum	− 46.47	− 55.07	-5.260	− 54.31	− 13.77	− 15.95	− 12.37	− 15.14	− 13.04	− 25.01	− 28.56	− 14.41
Std. Dev	4.8415	6.1867	0.4819	7.2472	2.0692	1.9280	1.9379	2.1968	2.1311	2.2600	0.0500	0.0252
Skewness	− 0.5809	− 0.6913	0.8403	1.1238	− 0.3202	− 0.3648	− 0.3019	− 0.2678	− 0.1737	− 1.0737	− 0.6875	− 0.3345
Kurtosis	12.6681	10.4289	52.2992	24.8006	7.8918	10.4885	7.0822	7.2365	8.1398	27.2989	18.2048	14.6061
Jarque–Bera	4922.82	2964.44	126,325.60	24,936.57	1263.61	2938.98	884.06	946.69	1377.75	30,893.02	12,100.52	7016.47
Probability	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
ADF	− 36.09***	− 35.48***	− 20.94***	− 34.56***	− 39.53***	− 44.24***	− 39.66***	− 39.80***	− 36.37***	− 11.98***	− 11.25***	− 12.47***
KPSS	0.1155	0.1417	0.0201	0.0898	0.1024	0.0940	0.1373	0.0567	0.0842	0.0502	0.0717	0.0334