Table 2

Correlation matrix among different asset classes

GoldOilBitcoinVietnamUSJapanChina
Gold1      
Oil0.3981     
Bitcoin0.2200.0771    
Vietnam0.1270.1270.1191   
USA0.4780.4510.2560.2491  
Japan0.3670.2920.1710.2550.4641 
China0.1300.0820.0490.1440.2270.2081
Source(s): Authors’ estimation

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