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Comparative Evaluation of Share Values of Five Magnificent Technology Companies with Bitcoin and Gold Prices

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  • Meltem KESKÄ°N

Abstract

Especially new generation investors may prefer to use stocks of popular companies that use advanced technologies and cryptocurrencies as investment instruments. Gold, one of the classical investment instruments, still maintains its place among the commodity assets in the portfolios of investors around the world. These asset groups were evaluated in this study. As the first group investment tool, decacorn and hectocorn technology companies called the new generation the magnificent five; Company stock returns of Apple, Microsoft, Amazon, Alphabet, Nvidia Corporation and Tesla were analyzed. In addition, as the second financial asset, cryptocurrencies, which are used as investment instruments as well as being used in daily life with the evolution of technology, and Bitcoin (BTC), which remains popular among these cryptocurrencies, were the subject of the study. Finally, the study evaluated gold mines, one of the world's oldest valuable investment instruments, compared with other financial assets. The study examined the magnificent five stocks, BTC and gold ounce prices between the periods of 2020:01 and 2023:12, using mutual cointegration, vector error correction (VEC) and Granger causality analyses. Findings of the study; Short-term shocks caused by variables in BTC stabilise after about a month. In this process, as NVDA shares increase, BTC value decreases, and as gold value increases, BTC value increases.

Suggested Citation

  • Meltem KESKÄ°N, 2025. "Comparative Evaluation of Share Values of Five Magnificent Technology Companies with Bitcoin and Gold Prices," Fiscaoeconomia, Tubitak Ulakbim JournalPark (Dergipark), issue 1.
    • Handle: RePEc:fis:journl:250132
    DOI: 10.25295/fsecon.1490060
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    References listed on IDEAS

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    1. Chris Brooks & Marcel Prokopczuk, 2013. "The dynamics of commodity prices," Quantitative Finance, Taylor & Francis Journals, vol. 13(4), pages 527-542, March.
    2. Kalyvas, Antonios & Papakyriakou, Panayiotis & Sakkas, Athanasios & Urquhart, Andrew, 2020. "What drives Bitcoin’s price crash risk?," Economics Letters, Elsevier, vol. 191(C).
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    Keywords

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    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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