A clean, green haven?—Examining the relationship between clean energy, clean and dirty cryptocurrencies
研究了清洁能源指数对两种加密货币（按能耗分为清洁和肮脏）的避险属性，发现清洁能源在极端熊市中是两者的弱避风港，且对肮脏加密货币的避险作用更强，两者间关联度低，暗示清洁能源未来可作为对冲和分散工具。
Is clean energy a safe haven for cryptocurrencies, or vice versa? In this paper, we investigate the hedge and safe haven property of a wide range of clean energy indices against two distinct types of cryptocurrencies based on their energy consumption levels, termed “dirty” and “clean”. Statistical evidence shows that clean energy is not a direct hedge for either of types. However, it serves as at least a weak safe haven for both in extreme bearish markets. Moreover, clean energy is more likely to be a safe haven for dirty cryptocurrencies than clean cryptocurrencies during increased uncertainty. We further study the spillover patterns among clean energy, cryptocurrency, stock, and gold markets. Weak connectedness is found between clean energy and cryptocurrencies which implies the potential use of clean energy as a hedge and diversification tool for cryptocurrencies in the future.