Open AccessEffect of Weather on Cryptocurrency Index: Evidences From Coinbase Index
Author(s) -
Chinnadurai Kathiravan,
Murugesan Selvam,
Balasundram Maniam,
Sankaran Venkateswar,
Gayathri Jayapal,
Amrutha Pavithran
Publication year - 2019
Publication title -
international journal of financial research
Language(s) - English
Resource type - Journals
eISSN - 1923-4031
pISSN - 1923-4023
DOI - 10.5430/ijfr.v10n4p108
Subject(s) - index (typography) , granger causality , econometrics , economics , cryptocurrency , statistics , descriptive statistics , sample (material) , statistical hypothesis testing , mathematics , computer science , chemistry , computer security , chromatography , world wide web
This study proposes to investigate the dynamic relationships between the three weather factors (temperature, humidity, and wind speed) in New York City of USA and Coinbase Index from Federal Reserve Bank of St. Louis, in the USA. Statistical tools like Descriptive Statistics, Unit Root, Granger Causality Test and Johansen Co-Integration test were employed. This study clearly found that the temperature influenced the investors’ mood and their investment decision in respect of Cryptocurrency index (Coinbase Index) and also found that there was long run equilibrium between the sample variables during the study period. The results of study provided strong evidence against the Efficient Market Hypothesis (EMH).