%0 Journal Article
%T Bitcoin and Stock Returns: An Empirical Study
%A Chikashi Tsuji
%J iBusiness
%P 147-153
%@ 2150-4083
%D 2023
%I Scientific Research Publishing
%R 10.4236/ib.2023.152011
%X This paper investigates the profitability of Bitcoin
and US equity. More con<span>cretely, we inspect
the performances of the S&amp;P 500 index and Bitcoin b</span>y comparing their
returns and volatilities. As a result, we obtain the following significant
findings. First, our regression analysis clarifies that for the period after
the sudden appearance of COVID-19, there was a weak nexus between <span>the S&amp;P 500 index and Bitcoin returns. In
addition, our return and return</span> s<span>pread
analysis evidences that for this period, on average, Bitcoin retu</span>rns
were much higher than the S&amp;P 500 index returns. Moreover, our volatility
and volatility spread analysis reveals that for this period, on average, the
volatilities of Bitcoin returns were much higher than those of the S&amp;P 500
index returns.
%K Bitcoin
%K Cryptocurrency
%K Return
%K US Equity
%K Volatility
%U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=125533