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<p>In this study, we analyze the interconnectedness within the metaverse economy using the Wavelet Coherence and TVP-VAR methodology, examining relationships with cryptocurrencies, commodities, and clean energy markets. Our findings suggest a low level of connectedness among metaverse tokens, commodities, and clean energy, with fluctuations over time. While gold, crude oil, and silver weakly affect metaverse token returns, clean energy assets, especially CELS and CLEN, have a stronger influence. However, commodities markets overall have a weak impact on the metaverse, indicating potential diversification benefits. Regarding volatility, gold, oil, and stocks have minimal effects on metaverse tokens, and clean energy assets show weak volatility spillovers. The Russia–Ukraine conflict has increased uncertainty, leading to shifts in asset behavior. Overall, our results suggest that metaverse tokens could serve as diversifiers for commodities and clean energy portfolios, contributing valuable insights for investors and policymakers.</p>

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Return and volatility interconnectedness between metaverse tokens, commodities, clean and green energy

  • 期刊论文

  • 发表日期：

    2025年6月9日

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  • Nadia Basty,
  • Mouna Abidly

摘要

In this study, we analyze the interconnectedness within the metaverse economy using the Wavelet Coherence and TVP-VAR methodology, examining relationships with cryptocurrencies, commodities, and clean energy markets. Our findings suggest a low level of connectedness among metaverse tokens, commodities, and clean energy, with fluctuations over time. While gold, crude oil, and silver weakly affect metaverse token returns, clean energy assets, especially CELS and CLEN, have a stronger influence. However, commodities markets overall have a weak impact on the metaverse, indicating potential diversification benefits. Regarding volatility, gold, oil, and stocks have minimal effects on metaverse tokens, and clean energy assets show weak volatility spillovers. The Russia–Ukraine conflict has increased uncertainty, leading to shifts in asset behavior. Overall, our results suggest that metaverse tokens could serve as diversifiers for commodities and clean energy portfolios, contributing valuable insights for investors and policymakers.