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A new elite safe haven asset: Rolex watches

Author

Listed:
  • Dimitrios Dimitriou
  • Georgios Garafas
  • Dimitris Kenourgios
  • Alexandros Tsioutsios

Abstract

This paper empirically tests whether Rolex watches may be considered safe-haven assets. To accomplish this, we employ Local Gaussian Correlations and spectral analysis spanning from 19 January 2017 to 7 July 2023, examining the relationship between the Rolex market index (indicating the average market price of the watches) and more conventional assets, namely: S&P 500, Oil, Nikkei, Eurostoxx, Gold, REIT, EEM and Bitcoin. The results revealed that the Rolex market index, and hence Rolex watches, exhibited safe-haven properties during the pandemic crisis in the majority of the cases (except for Gold and REIT). This finding is vital for global investors since the identified safe-haven features might help enhance portfolio diversification strategies in anticipation of future crises.

Suggested Citation

  • Dimitrios Dimitriou & Georgios Garafas & Dimitris Kenourgios & Alexandros Tsioutsios, 2026. "A new elite safe haven asset: Rolex watches," Applied Economics, Taylor & Francis Journals, vol. 58(31), pages 6336-6348, July.
    • Handle: RePEc:taf:applec:v:58:y:2026:i:31:p:6336-6348
    DOI: 10.1080/00036846.2025.2519941
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