Assessing The Hedge And Safe Haven Properties Of Gold In Main Bist Sectors Via Adcc-garch Model: Covid-19 Effects
In this study, gold’s safe haven and hedge properties for Borsa Istanbul at the sector level during the COVID-19 pandemic is investigated through utilizing the ADCC-GARCH method. Sectors of BIST: technology (XUTEK), industry (XUSIN), financials (XUMAL), services (XUHIZ) and transportation (XULAS) are considered. Empirical results show that gold has acted as a strong hedge and a weak safe haven asset versus all of the five BIST sector indexes during the COVID-19 pandemic. The results may provide insightful information on more robust risk-hedge and diversification strategies for portfolio investors in Türkiye and abroad.
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