Risk Management and Return Predictability in Global Markets

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Financial Markets".

Deadline for manuscript submissions: 30 September 2025 | Viewed by 290

Special Issue Editors


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Guest Editor
Department of Finance, Robins School of Business, University of Richmond, Richmond, VA 23173, USA
Interests: investments; international finance

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Guest Editor
Finance Discipline Group, University of Technology Sydney, 15 Broadway, Ultimo, NSW, Australia
Interests: solutions to problems caused by unethical conduct in the finance industry, and the broader impact of human behaviour in capital market settings

Special Issue Information

Dear Colleagues,

The Journal of Risk and Financial Management (JRFM) extends an invitation for submissions to a forthcoming Special Issue dedicated to the exploration of global stock return patterns and risk management strategies in investments. This Special Issue aims to dissect the complexities associated with global security returns and to scrutinize various hedging strategies employed by investors worldwide. This topic is pivotal for academics, investors, and researchers interested in the intricacies of global financial markets and their implications on portfolio performance. We encourage submissions that not only address but also challenge existing paradigms and propose new methodologies or theoretical frameworks.

Prof. Dr. C. Mitchell Conover
Dr. Gerhard Hambusch
Guest Editors

Manuscript Submission Information

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Keywords

  • return patterns
  • market anomalies
  • global stock returns
  • diversification
  • hedging strategies
  • risk management
  • financial markets
  • portfolio optimization
  • and policy and global markets

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Published Papers (1 paper)

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Research

21 pages, 14050 KiB  
Article
Bitcoin vs. the US Dollar: Unveiling Resilience Through Wavelet Analysis of Price Dynamics
by Essa Al-Mansouri
J. Risk Financial Manag. 2025, 18(5), 259; https://doi.org/10.3390/jrfm18050259 - 9 May 2025
Abstract
This paper investigates Bitcoin’s resilience against the U.S. dollar—widely recognized as the global reserve currency—by applying a multi-method wavelet analysis framework to daily price data of Bitcoin, the USD strength index (DXY), the euro, and other assets ranging from August 2015 to June [...] Read more.
This paper investigates Bitcoin’s resilience against the U.S. dollar—widely recognized as the global reserve currency—by applying a multi-method wavelet analysis framework to daily price data of Bitcoin, the USD strength index (DXY), the euro, and other assets ranging from August 2015 to June 2024. Quantitative measures—particularly the Frobenius norm of wavelet coherence and an exponential decay phase-weighting scheme—reveal that Bitcoin’s out-of-phase relationship with the dollar is lower and more sporadic than that of mainstream assets, indicating it is not tightly governed by dollar fluctuations. Even after controlling for the euro’s dominant influence in the DXY, BTC continues to show weaker coupling than mainstream assets—reinforcing the idea that it may serve as a partial hedge against dollar-driven volatility. These results support the hypothesis that Bitcoin may serve as a resilient store of value and hedge against dollar-driven market volatility, placing Bitcoin within the broader debate on global monetary frameworks. As global monetary conditions evolve, the resilience of Bitcoin (BTC) relative to the world’s leading reserve currency—the U.S. dollar—has significant implications for both investors and policymakers. Full article
(This article belongs to the Special Issue Risk Management and Return Predictability in Global Markets)
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