Averaged dynamic connectedness table (pre-COVID-19 period)
| Bitcoin | Gold | WTI | Wheat | Gas | SP500 | FTSE | Nikkei | DAX.40 | CAC.40 | FTSE.MIB | S.P.TSX | FROM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bitcoin | 22.21 | 6.77 | 6.17 | 6.67 | 7.02 | 7.62 | 7.08 | 6.96 | 7.42 | 8.73 | 6.95 | 6.39 | 77.79 |
| Gold | 6.82 | 19.07 | 7.27 | 6.90 | 6.38 | 8.14 | 7.51 | 7.02 | 7.87 | 9.46 | 7.20 | 6.36 | 80.93 |
| WTI | 7.49 | 7.16 | 17.31 | 6.90 | 6.60 | 8.43 | 7.75 | 7.18 | 7.64 | 9.06 | 7.40 | 7.09 | 82.69 |
| Wheat | 7.30 | 7.16 | 6.83 | 18.62 | 6.57 | 8.21 | 7.33 | 6.95 | 7.72 | 9.26 | 7.22 | 6.83 | 81.38 |
| Gas | 7.55 | 6.89 | 6.63 | 6.86 | 19.66 | 7.68 | 7.07 | 6.75 | 7.72 | 9.44 | 7.23 | 6.51 | 80.34 |
| SP500 | 6.55 | 7.00 | 6.45 | 6.37 | 6.61 | 18.33 | 7.86 | 7.07 | 8.44 | 9.78 | 8.15 | 7.40 | 81.67 |
| FTSE | 7.08 | 6.78 | 6.31 | 6.38 | 6.70 | 9.32 | 16.77 | 6.84 | 8.68 | 10.31 | 7.89 | 6.95 | 83.23 |
| Nikkei | 6.61 | 6.88 | 6.45 | 6.77 | 6.74 | 8.53 | 7.44 | 18.43 | 8.46 | 9.28 | 7.68 | 6.73 | 81.57 |
| DAX.40 | 6.31 | 6.69 | 5.92 | 6.09 | 6.41 | 9.67 | 8.33 | 6.92 | 15.54 | 12.20 | 9.10 | 6.81 | 84.46 |
| CAC.40 | 5.98 | 6.49 | 5.91 | 5.92 | 6.13 | 9.98 | 8.81 | 6.83 | 10.98 | 16.50 | 9.58 | 6.89 | 83.50 |
| FTSE.MIB | 6.24 | 6.61 | 6.37 | 6.02 | 6.19 | 9.30 | 8.37 | 6.80 | 9.80 | 11.35 | 16.26 | 6.70 | 83.74 |
| S.P.TSX | 6.63 | 6.54 | 7.00 | 6.46 | 6.59 | 11.62 | 8.27 | 6.89 | 8.18 | 9.85 | 7.89 | 14.07 | 85.93 |
| TO | 74.55 | 74.97 | 71.30 | 71.33 | 71.95 | 98.50 | 85.83 | 76.21 | 92.92 | 108.71 | 86.30 | 74.66 | 987.23 |
| Inc.Own | 96.77 | 94.05 | 88.61 | 89.95 | 91.61 | 116.82 | 102.59 | 94.64 | 108.46 | 125.21 | 102.56 | 88.73 | cTCI/TCI |
| NET | −3.23 | −5.95 | −11.39 | −10.05 | −8.39 | 16.82 | 2.59 | −5.36 | 8.46 | 25.21 | 2.56 | −11.27 | 89.75/82.27 |
| NPT | 5.00 | 3.00 | 2.00 | 2.00 | 1.00 | 11.00 | 8.00 | 6.00 | 9.00 | 10.00 | 7.00 | 2.00 |
| Bitcoin | Gold | WTI | Wheat | Gas | SP500 | FTSE | Nikkei | DAX.40 | CAC.40 | FTSE.MIB | S.P.TSX | FROM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bitcoin | 22.21 | 6.77 | 6.17 | 6.67 | 7.02 | 7.62 | 7.08 | 6.96 | 7.42 | 8.73 | 6.95 | 6.39 | 77.79 |
| Gold | 6.82 | 19.07 | 7.27 | 6.90 | 6.38 | 8.14 | 7.51 | 7.02 | 7.87 | 9.46 | 7.20 | 6.36 | 80.93 |
| WTI | 7.49 | 7.16 | 17.31 | 6.90 | 6.60 | 8.43 | 7.75 | 7.18 | 7.64 | 9.06 | 7.40 | 7.09 | 82.69 |
| Wheat | 7.30 | 7.16 | 6.83 | 18.62 | 6.57 | 8.21 | 7.33 | 6.95 | 7.72 | 9.26 | 7.22 | 6.83 | 81.38 |
| Gas | 7.55 | 6.89 | 6.63 | 6.86 | 19.66 | 7.68 | 7.07 | 6.75 | 7.72 | 9.44 | 7.23 | 6.51 | 80.34 |
| SP500 | 6.55 | 7.00 | 6.45 | 6.37 | 6.61 | 18.33 | 7.86 | 7.07 | 8.44 | 9.78 | 8.15 | 7.40 | 81.67 |
| FTSE | 7.08 | 6.78 | 6.31 | 6.38 | 6.70 | 9.32 | 16.77 | 6.84 | 8.68 | 10.31 | 7.89 | 6.95 | 83.23 |
| Nikkei | 6.61 | 6.88 | 6.45 | 6.77 | 6.74 | 8.53 | 7.44 | 18.43 | 8.46 | 9.28 | 7.68 | 6.73 | 81.57 |
| DAX.40 | 6.31 | 6.69 | 5.92 | 6.09 | 6.41 | 9.67 | 8.33 | 6.92 | 15.54 | 12.20 | 9.10 | 6.81 | 84.46 |
| CAC.40 | 5.98 | 6.49 | 5.91 | 5.92 | 6.13 | 9.98 | 8.81 | 6.83 | 10.98 | 16.50 | 9.58 | 6.89 | 83.50 |
| FTSE.MIB | 6.24 | 6.61 | 6.37 | 6.02 | 6.19 | 9.30 | 8.37 | 6.80 | 9.80 | 11.35 | 16.26 | 6.70 | 83.74 |
| S.P.TSX | 6.63 | 6.54 | 7.00 | 6.46 | 6.59 | 11.62 | 8.27 | 6.89 | 8.18 | 9.85 | 7.89 | 14.07 | 85.93 |
| TO | 74.55 | 74.97 | 71.30 | 71.33 | 71.95 | 98.50 | 85.83 | 76.21 | 92.92 | 108.71 | 86.30 | 74.66 | 987.23 |
| Inc.Own | 96.77 | 94.05 | 88.61 | 89.95 | 91.61 | 116.82 | 102.59 | 94.64 | 108.46 | 125.21 | 102.56 | 88.73 | cTCI/TCI |
| NET | −3.23 | −5.95 | −11.39 | −10.05 | −8.39 | 16.82 | 2.59 | −5.36 | 8.46 | 25.21 | 2.56 | −11.27 | 89.75/82.27 |
| NPT | 5.00 | 3.00 | 2.00 | 2.00 | 1.00 | 11.00 | 8.00 | 6.00 | 9.00 | 10.00 | 7.00 | 2.00 |
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