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Unveiling the crypto-green nexus: A risk management and investment strategy approach through the lens of NFTs, DeFis, green cryptocurrencies, and green investments

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  • Patel, Ritesh
  • Kumar, Sanjeev
  • Agnihotri, Shalini

Abstract

This study focuses to examine the connectedness among the Green Investments, NFTs, DeFis & Green Cryptocurrencies, along with the portfolio diversification and hedging potential of the Green Investment against the other investments. We examined the connectedness using the Quantile VAR and Wavelet Quantile Correlation method, indicating the existence of the partial connectedness among the selected assets. The connectedness among the assets changes due to change in global uncertainty caused by Covid-19 and Russia-Ukraine war. The green investment offers the hedging benefits to other green investment. Among all crypto assets, Dai serve as a good hedge for the green investment and other crypto assets. MCoP is best performing portfolio with Sharpe ratio, followed by MCP. However, the investment as per MCoP and MCP approaches increases the volatility of green assets. Further, the hedging benefits are varying with the changing global dynamics. None of the approach gives positive cumulative return and Sharpe ratio to the investors during the Russia-Ukraine war period. Our study has implications for the investors and portfolio managers with respect to portfolio framing and fund allocation.

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  • Patel, Ritesh & Kumar, Sanjeev & Agnihotri, Shalini, 2025. "Unveiling the crypto-green nexus: A risk management and investment strategy approach through the lens of NFTs, DeFis, green cryptocurrencies, and green investments," The North American Journal of Economics and Finance, Elsevier, vol. 75(PA).
    • Handle: RePEc:eee:ecofin:v:75:y:2025:i:pa:s1062940824002146
    DOI: 10.1016/j.najef.2024.102289
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    More about this item

    Keywords

    Cryptocurrency; NFTs; DeFis; Green Investment; Portfolio diversification; Hedging;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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