Table 5 Descriptive statistics for...

Table 5

Descriptive statistics for dynamic conditional correlation between bitcoin and energy commodities with ECB surprises

DCC between bitcoin and
	Crude oil WTI	Brent oil	Gasoline RBOB	Heating oil	London GAS_OIL	Natural gas
Mean	0.038947	0.024158	0.043865	0.077832	0.064584	0.009010
Median	0.046171	0.020793	0.025694	0.077423	0.088502	0.027653
Maximum	0.782689	0.939158	0.806293	0.935689	0.851501	0.645694
Minimum	−0.896256	−0.928957	−0.705735	−0.746041	−0.801323	−0.798624
Std. Dev	0.312241	0.325732	0.287408	0.358602	0.323492	0.295952
Skewness	−0.178325	0.104080	0.119512	−0.098820	−0.216749	−0.233398
Kurtosis	2.717530	2.832780	2.638746	2.338116	2.360935	2.392030
Jarque–Bera	83.14029*	28.63625*	75.36737*	29.16563*	39.95231*	54.59897*
Probability	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000
Obs	964	964	964	964	964	964

DCC between bitcoin and
	Crude oil WTI	Brent oil	Gasoline RBOB	Heating oil	London GAS_OIL	Natural gas
Mean	0.038947	0.024158	0.043865	0.077832	0.064584	0.009010
Median	0.046171	0.020793	0.025694	0.077423	0.088502	0.027653
Maximum	0.782689	0.939158	0.806293	0.935689	0.851501	0.645694
Minimum	−0.896256	−0.928957	−0.705735	−0.746041	−0.801323	−0.798624
Std. Dev	0.312241	0.325732	0.287408	0.358602	0.323492	0.295952
Skewness	−0.178325	0.104080	0.119512	−0.098820	−0.216749	−0.233398
Kurtosis	2.717530	2.832780	2.638746	2.338116	2.360935	2.392030
Jarque–Bera	83.14029*	28.63625*	75.36737*	29.16563*	39.95231*	54.59897*
Probability	0.000000	0.000000	0.000000	0.000000	0.000000	0.000000
Obs	964	964	964	964	964	964

Note(s): This table presents summary statistics of DCC between Bitcoin and energy commodities, namely Crude Oil WTI (West Texas Intermediate), Brent Oil, Gasoline RBOB (Reformulated Gasoline Blendstock for Oxygen Blending), Heating Oil, London Gas Oil and Natural Gas in the presence of ECB surprises. The data period is from August 11, 2015 until March 31, 2018. Statistical significance at the 1% is denoted by *

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