Will There Be Dependencies between Oil Prices and Clean Energy Indexes?
2023
Chambino, Mariana | Dias, Rui | Morais da Palma, Cristina
This paper analyses whether clean energy stock indexes, name ly WilderHill Clean Energy, Clean Energy Fuels, and Nasdaq Clean Edge Green Energy indexes, can be considered coverage assets for the dirty ener gy stock indexes such as the Brent Crude Spot and Euro Stoxx Oil & Gas in dexes during the events that occurred in 2020 and 2022. The results suggest low levels of integration, which shows that clean energy indexes are isolat ed. Based on these findings, the clean energy index may offer a better op portunity to cover oil prices. However, it is important to highlight that mar ket conditions, transaction costs, and asset performance affect hedge strat egy returns. Therefore, it is important to carefully assess the potential risks and benefits of any hedge strategy before making investment decisions. In addition, past performance does not guarantee future results, and market conditions can change quickly and unpredictably.
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Editeur Association of Economists and Managers of the Balkans, Belgrade, Serbia
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