Figure 1
The image contains twelve line graphs, each representing the returns over time for different assets and indices. Each graph has a horizontal axis labeled Date ranging from 2017 to 2025 and a vertical axis labeled Returns with varying scales. Panel A shows Bitcoin Returns with returns ranging from -0.5 to 0.2. Panel B shows Gold Returns with returns ranging from -0.06 to 0.06. Panel C shows WTI Returns with returns ranging from -0.6 to 0.2. Panel D shows SP500 Returns with returns ranging from -0.10 to 0.10. Panel E shows FTSE Returns with returns ranging from -0.10 to 0.10. Panel F shows Nikkei Returns with returns ranging from -0.10 to 0.10. Panel G shows DAX 40 Returns with returns ranging from -0.10 to 0.10. Panel H shows CAC 40 Returns with returns ranging from -0.10 to 0.10. Panel I shows FTSE 1 Returns with returns ranging from -0.10 to 0.10. Panel J shows SPTX Returns with returns ranging from -0.10 to 0.10. Panel K shows Wheat Returns with returns ranging from -0.10 to 0.20.Time returns series