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Alternative Assets and Cryptocurrencies
Christian Hafner
2019
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Alternative assets such as fine art, wine, or diamonds have become popular investment vehicles in the aftermath of the global financial crisis. Correlation with classical financial markets is typically low, such that diversification benefits arise for portfolio allocation and risk management. Cryptocurrencies share many alternative asset features, but are hampered by high volatility, sluggish commercial acceptance, and regulatory uncertainties. This collection of papers addresses alternative assets and cryptocurrencies from economic, financial, statistical, and technical points of view. It gives an overview of their current state and explores their properties and prospects using innovative approaches and methodologies.
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Keywords
- Baltic dry index
- Bitcoin
- Bitcoin volatility
- blockchain
- capital asset pricing model
- classification framework
- collatz conjecture
- crowdfunding
- Cryptocurrencies
- cryptocurrency
- diamond prices
- diamond stocks
- digital currency
- GARCH
- GARCH-MIDAS
- geometric distribution
- Gold
- HAR
- Hashrate
- high frequency
- high-frequency finance
- inflation propensity
- initial coin offering
- investment asset
- limit order book
- liquidity costs
- Machine learning
- metric learning
- portfolio modelling
- pro-cyclical volatility
- proof-of-work
- realized volatility
- Risk management
- sentiment
- smooth transition
- speculative bubbles
- statistical arbitrage
- stylized fact
- Systemic Risk
- time series
- transaction costs
- trend prediction
- Venture capital
- volume