Table 5

Total and directional return and volatility spillover indices

SSEBitcoinEtherGoldTetherTrueUSD
Total returns spillover index: 50.99%
Directional return spillover indices
I to All4.668.005.584.2314.5413.95
All to I0.4121.3724.630.252.022.29
Net I to All4.25−13.36−19.053.9812.5211.65
Pairwise directional return spillover indices
SSE12.001.752.410.080.200.20
Bitcoin0.018.667.850.070.030.03
Ether0.025.4611.080.040.020.02
Gold0.142.171.9112.420.010.01
Tether0.056.236.190.022.112.02
TrueUSD0.175.736.250.021.752.71
Total volatility spillover index: 70.20%
Directional volatility spillover indices
I to All5.932.7216.6616.2611.9416.66
All to I1.0346.460.0200.0622.570.05
Net I to All4.90−43.7416.6416.19−10.6216.61
Pairwise directional volatility spillover indices
SSE10.724.310.010.011.540.04
Bitcoin0.0113.940.010.042.670.01
Ether0.1312.200.010.014.320.01
Gold0.824.850.010.4010.580.01
Tether0.0111.940.010.014.710.01
TrueUSD0.0513.160.010.013.440.01

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