Deep Diving Into Sustainable Stock Markets Connectivity Analysis

Cristina Palma – Polytechnic Institute of Setúbal, School of Business and Administration, Setúbal, Portugal

Rui Dias – ISG – Business & Economics School, CIGEST, Lisbon, Portugal; ESCAD – Polytechnic Institute of Lusophony, Lisbon, Portugal; Polytechnic Institute of Setúbal, School of Business and Administration, Setúbal, Portugal

Rosa Galvão – Polytechnic Institute of Setúbal, School of Business and Administration, Setúbal, Portugal

Paulo Alexandre – Polytechnic Institute of Setúbal, School of Business and Administration, Setúbal, Portugal

Sidalina Gonçalves – Polytechnic Institute of Setúbal, School of Business and Administration, Setúbal, Portugal

Abstract: This study’s purpose is to assess the safe haven characteristics of the precious metals Gold, Handy & Harman, Silver and Handy & Harman concerning the clean energy indices S&P Global Clean Energy and WilderHill Clean Energy, testing this evidence through the contagion phenomenon. The results indicate that Gold and Silver act as safe-haven assets with clean energy indices such as the WilderHill Clean Energy Index and the S&P GLOB­AL CLEAN ENERGY. So, investors tend to favour Gold and Silver over clean energy indices in periods of uncertainty in the financial markets due to their identified stability and security. This perception is attributed to the historical function of precious metals as stores of value and their vast industrial appli­cations and acceptance as forms of payment. These results have important implications for investment decisions, especially during periods of volatility and uncertainty in the financial markets.

8th International Scientific Conference – EMAN 2024 – Economics and Management: How to Cope With Disrupted Times, Rome, Italy, March 21, 2024, CONFERENCE PROCEEDINGS, published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-83-7, ISSN 2683-4510, DOI: https://doi.org/10.31410/EMAN.2024

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

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