Twitter matters for metaverse stocks amid economic uncertainty

Ahmet Faruk Aysan; Jonathan A. Batten; Giray Gozgor; Rabeh Khalfaoui; Zhamal Nanaeva

doi:10.1016/j.frl.2023.104116

Twitter matters for metaverse stocks amid economic uncertainty

Ahmet Faruk Aysan^*
, Jonathan A. Batten
, Giray Gozgor
, Rabeh Khalfaoui
, Zhamal Nanaeva

^*Corresponding author for this work

Islamic Studies – Administration

Research output: Contribution to journal › Article › peer-review

22 Citations (Scopus)

Abstract

The study examines the relationship between economic uncertainty, as measured by the Twitter-based economic uncertainty index (TEU), and Metaverse stocks across different time-frequency domains. By employing Wavelet Local Multiple Correlation analysis, we identify a substantial and statistically significant correlation between TEU and the Metaverse stock market across all time horizons examined. The positive correlation is confirmed when two alternative measures of economic uncertainty: crude oil and gold volatility, are included. The results highlight the importance of considering real-world economic uncertainty in decision-making processes involving virtual reality environments.

Original language	English
Article number	104116
Journal	Finance Research Letters
Volume	56
DOIs	https://doi.org/10.1016/j.frl.2023.104116
Publication status	Published - 15 Jun 2023

Keywords

Crude oil volatility
Gold volatility
Metaverse stocks
Twitter-based economic uncertainty index
Wavelet local multiple correlation

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10.1016/j.frl.2023.104116

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title = "Twitter matters for metaverse stocks amid economic uncertainty",

abstract = "The study examines the relationship between economic uncertainty, as measured by the Twitter-based economic uncertainty index (TEU), and Metaverse stocks across different time-frequency domains. By employing Wavelet Local Multiple Correlation analysis, we identify a substantial and statistically significant correlation between TEU and the Metaverse stock market across all time horizons examined. The positive correlation is confirmed when two alternative measures of economic uncertainty: crude oil and gold volatility, are included. The results highlight the importance of considering real-world economic uncertainty in decision-making processes involving virtual reality environments.",

keywords = "Crude oil volatility, Gold volatility, Metaverse stocks, Twitter-based economic uncertainty index, Wavelet local multiple correlation",

author = "Aysan, \{Ahmet Faruk\} and Batten, \{Jonathan A.\} and Giray Gozgor and Rabeh Khalfaoui and Zhamal Nanaeva",

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T1 - Twitter matters for metaverse stocks amid economic uncertainty

AU - Aysan, Ahmet Faruk

AU - Batten, Jonathan A.

AU - Gozgor, Giray

AU - Khalfaoui, Rabeh

AU - Nanaeva, Zhamal

PY - 2023/6/15

Y1 - 2023/6/15

N2 - The study examines the relationship between economic uncertainty, as measured by the Twitter-based economic uncertainty index (TEU), and Metaverse stocks across different time-frequency domains. By employing Wavelet Local Multiple Correlation analysis, we identify a substantial and statistically significant correlation between TEU and the Metaverse stock market across all time horizons examined. The positive correlation is confirmed when two alternative measures of economic uncertainty: crude oil and gold volatility, are included. The results highlight the importance of considering real-world economic uncertainty in decision-making processes involving virtual reality environments.

AB - The study examines the relationship between economic uncertainty, as measured by the Twitter-based economic uncertainty index (TEU), and Metaverse stocks across different time-frequency domains. By employing Wavelet Local Multiple Correlation analysis, we identify a substantial and statistically significant correlation between TEU and the Metaverse stock market across all time horizons examined. The positive correlation is confirmed when two alternative measures of economic uncertainty: crude oil and gold volatility, are included. The results highlight the importance of considering real-world economic uncertainty in decision-making processes involving virtual reality environments.

KW - Crude oil volatility

KW - Gold volatility

KW - Metaverse stocks

KW - Twitter-based economic uncertainty index

KW - Wavelet local multiple correlation

UR - https://www.scopus.com/pages/publications/85163986479

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DO - 10.1016/j.frl.2023.104116

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SN - 1544-6123

VL - 56

JO - Finance Research Letters

JF - Finance Research Letters

M1 - 104116

ER -

Twitter matters for metaverse stocks amid economic uncertainty

Abstract

Keywords

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