id	sid	tid	token	lemma	pos
fbem-18916	1	1	frontiers	frontier	NOUN
fbem-18916	1	2	in	in	ADP
fbem-18916	1	3	business	business	NOUN
fbem-18916	1	4	,	,	PUNCT
fbem-18916	1	5	economics	economic	NOUN
fbem-18916	1	6	and	and	CCONJ
fbem-18916	1	7	management	management	NOUN
fbem-18916	1	8	issn	issn	PROPN
fbem-18916	1	9	:	:	PUNCT
fbem-18916	1	10	2766	2766	NUM
fbem-18916	1	11	-	-	PUNCT
fbem-18916	1	12	824x	824x	NUM
fbem-18916	1	13	|	|	ADJ
fbem-18916	1	14	vol	vol	NOUN
fbem-18916	1	15	.	.	PUNCT
fbem-18916	2	1	14	14	NUM
fbem-18916	2	2	,	,	PUNCT
fbem-18916	2	3	no	no	INTJ
fbem-18916	2	4	.	.	NOUN
fbem-18916	2	5	1	1	NUM
fbem-18916	2	6	,	,	PUNCT
fbem-18916	2	7	2024	2024	NUM
fbem-18916	2	8	298	298	NUM
fbem-18916	2	9	research	research	NOUN
fbem-18916	2	10	on	on	ADP
fbem-18916	2	11	tail	tail	NOUN
fbem-18916	2	12	risk	risk	NOUN
fbem-18916	2	13	hedging	hedging	NOUN
fbem-18916	2	14	in	in	ADP
fbem-18916	2	15	the	the	DET
fbem-18916	2	16	digital	digital	ADJ
fbem-18916	2	17	asset	asset	NOUN
fbem-18916	2	18	market	market	NOUN
fbem-18916	2	19	ning	ning	PROPN
fbem-18916	2	20	li	li	PROPN
fbem-18916	2	21	school	school	PROPN
fbem-18916	2	22	of	of	ADP
fbem-18916	2	23	business	business	NOUN
fbem-18916	2	24	,	,	PUNCT
fbem-18916	2	25	the	the	DET
fbem-18916	2	26	university	university	PROPN
fbem-18916	2	27	of	of	ADP
fbem-18916	2	28	sydney	sydney	PROPN
fbem-18916	2	29	,	,	PUNCT
fbem-18916	2	30	sydney	sydney	PROPN
fbem-18916	2	31	,	,	PUNCT
fbem-18916	2	32	australia	australia	PROPN
fbem-18916	2	33	abstract	abstract	NOUN
fbem-18916	2	34	:	:	PUNCT
fbem-18916	2	35	in	in	ADP
fbem-18916	2	36	recent	recent	ADJ
fbem-18916	2	37	years	year	NOUN
fbem-18916	2	38	,	,	PUNCT
fbem-18916	2	39	the	the	DET
fbem-18916	2	40	digital	digital	ADJ
fbem-18916	2	41	asset	asset	NOUN
fbem-18916	2	42	market	market	NOUN
fbem-18916	2	43	has	have	AUX
fbem-18916	2	44	experienced	experience	VERB
fbem-18916	2	45	rapid	rapid	ADJ
fbem-18916	2	46	growth	growth	NOUN
fbem-18916	2	47	,	,	PUNCT
fbem-18916	2	48	but	but	CCONJ
fbem-18916	2	49	at	at	ADP
fbem-18916	2	50	the	the	DET
fbem-18916	2	51	same	same	ADJ
fbem-18916	2	52	time	time	NOUN
fbem-18916	2	53	,	,	PUNCT
fbem-18916	2	54	its	its	PRON
fbem-18916	2	55	implicit	implicit	ADJ
fbem-18916	2	56	tail	tail	NOUN
fbem-18916	2	57	risks	risk	NOUN
fbem-18916	2	58	have	have	AUX
fbem-18916	2	59	gradually	gradually	ADV
fbem-18916	2	60	raised	raise	VERB
fbem-18916	2	61	concerns	concern	NOUN
fbem-18916	2	62	,	,	PUNCT
fbem-18916	2	63	especially	especially	ADV
fbem-18916	2	64	amidst	amidst	ADP
fbem-18916	2	65	the	the	DET
fbem-18916	2	66	global	global	ADJ
fbem-18916	2	67	economic	economic	ADJ
fbem-18916	2	68	downturn	downturn	NOUN
fbem-18916	2	69	caused	cause	VERB
fbem-18916	2	70	by	by	ADP
fbem-18916	2	71	the	the	DET
fbem-18916	2	72	pandemic	pandemic	NOUN
fbem-18916	2	73	.	.	PUNCT
fbem-18916	3	1	this	this	DET
fbem-18916	3	2	paper	paper	NOUN
fbem-18916	3	3	aims	aim	VERB
fbem-18916	3	4	to	to	PART
fbem-18916	3	5	study	study	VERB
fbem-18916	3	6	tail	tail	NOUN
fbem-18916	3	7	risks	risk	NOUN
fbem-18916	3	8	and	and	CCONJ
fbem-18916	3	9	propose	propose	VERB
fbem-18916	3	10	hedging	hedging	NOUN
fbem-18916	3	11	strategies	strategy	NOUN
fbem-18916	3	12	.	.	PUNCT
fbem-18916	4	1	based	base	VERB
fbem-18916	4	2	on	on	ADP
fbem-18916	4	3	the	the	DET
fbem-18916	4	4	garch	garch	NOUN
fbem-18916	4	5	and	and	CCONJ
fbem-18916	4	6	var	var	NOUN
fbem-18916	4	7	models	model	NOUN
fbem-18916	4	8	,	,	PUNCT
fbem-18916	4	9	this	this	DET
fbem-18916	4	10	paper	paper	NOUN
fbem-18916	4	11	uses	use	VERB
fbem-18916	4	12	weekly	weekly	ADJ
fbem-18916	4	13	return	return	NOUN
fbem-18916	4	14	data	datum	NOUN
fbem-18916	4	15	from	from	ADP
fbem-18916	4	16	july	july	PROPN
fbem-18916	4	17	2017	2017	NUM
fbem-18916	4	18	to	to	ADP
fbem-18916	4	19	december	december	PROPN
fbem-18916	4	20	2021	2021	NUM
fbem-18916	4	21	for	for	ADP
fbem-18916	4	22	bitcoin	bitcoin	ADJ
fbem-18916	4	23	digital	digital	ADJ
fbem-18916	4	24	cryptocurrency	cryptocurrency	NOUN
fbem-18916	4	25	and	and	CCONJ
fbem-18916	4	26	traditional	traditional	ADJ
fbem-18916	4	27	non	non	ADJ
fbem-18916	4	28	-	-	ADJ
fbem-18916	4	29	digital	digital	ADJ
fbem-18916	4	30	asset	asset	NOUN
fbem-18916	4	31	market	market	NOUN
fbem-18916	4	32	indices	index	NOUN
fbem-18916	4	33	such	such	ADJ
fbem-18916	4	34	as	as	ADP
fbem-18916	4	35	stocks	stock	NOUN
fbem-18916	4	36	,	,	PUNCT
fbem-18916	4	37	bonds	bond	NOUN
fbem-18916	4	38	,	,	PUNCT
fbem-18916	4	39	gold	gold	NOUN
fbem-18916	4	40	,	,	PUNCT
fbem-18916	4	41	and	and	CCONJ
fbem-18916	4	42	commodities	commodity	NOUN
fbem-18916	4	43	.	.	PUNCT
fbem-18916	5	1	utilizing	utilize	VERB
fbem-18916	5	2	eviews	eview	NOUN
fbem-18916	5	3	and	and	CCONJ
fbem-18916	5	4	excel	excel	VERB
fbem-18916	5	5	,	,	PUNCT
fbem-18916	5	6	the	the	DET
fbem-18916	5	7	study	study	NOUN
fbem-18916	5	8	explores	explore	VERB
fbem-18916	5	9	tail	tail	NOUN
fbem-18916	5	10	risk	risk	NOUN
fbem-18916	5	11	measurement	measurement	NOUN
fbem-18916	5	12	and	and	CCONJ
fbem-18916	5	13	portfolio	portfolio	NOUN
fbem-18916	5	14	diversification	diversification	NOUN
fbem-18916	5	15	effects	effect	NOUN
fbem-18916	5	16	in	in	ADP
fbem-18916	5	17	the	the	DET
fbem-18916	5	18	digital	digital	ADJ
fbem-18916	5	19	asset	asset	NOUN
fbem-18916	5	20	market	market	NOUN
fbem-18916	5	21	.	.	PUNCT
fbem-18916	6	1	the	the	DET
fbem-18916	6	2	main	main	ADJ
fbem-18916	6	3	findings	finding	NOUN
fbem-18916	6	4	are	be	AUX
fbem-18916	6	5	as	as	SCONJ
fbem-18916	6	6	follows	follow	VERB
fbem-18916	6	7	:	:	PUNCT
fbem-18916	6	8	(	(	PUNCT
fbem-18916	6	9	1	1	X
fbem-18916	6	10	)	)	PUNCT
fbem-18916	6	11	during	during	ADP
fbem-18916	6	12	the	the	DET
fbem-18916	6	13	sample	sample	NOUN
fbem-18916	6	14	period	period	NOUN
fbem-18916	6	15	,	,	PUNCT
fbem-18916	6	16	cryptocurrency	cryptocurrency	NOUN
fbem-18916	6	17	returns	return	NOUN
fbem-18916	6	18	exhibited	exhibit	VERB
fbem-18916	6	19	significant	significant	ADJ
fbem-18916	6	20	volatility	volatility	NOUN
fbem-18916	6	21	,	,	PUNCT
fbem-18916	6	22	with	with	ADP
fbem-18916	6	23	weak	weak	ADJ
fbem-18916	6	24	correlations	correlation	NOUN
fbem-18916	6	25	with	with	ADP
fbem-18916	6	26	returns	return	NOUN
fbem-18916	6	27	from	from	ADP
fbem-18916	6	28	traditional	traditional	ADJ
fbem-18916	6	29	non	non	ADJ
fbem-18916	6	30	-	-	ADJ
fbem-18916	6	31	digital	digital	ADJ
fbem-18916	6	32	assets	asset	NOUN
fbem-18916	6	33	.	.	PUNCT
fbem-18916	7	1	further	further	ADJ
fbem-18916	7	2	analysis	analysis	NOUN
fbem-18916	7	3	revealed	reveal	VERB
fbem-18916	7	4	strong	strong	ADJ
fbem-18916	7	5	hedging	hedging	NOUN
fbem-18916	7	6	effects	effect	NOUN
fbem-18916	7	7	of	of	ADP
fbem-18916	7	8	digital	digital	ADJ
fbem-18916	7	9	assets	asset	NOUN
fbem-18916	7	10	against	against	ADP
fbem-18916	7	11	the	the	DET
fbem-18916	7	12	bond	bond	NOUN
fbem-18916	7	13	market	market	NOUN
fbem-18916	7	14	but	but	CCONJ
fbem-18916	7	15	weaker	weak	ADJ
fbem-18916	7	16	effects	effect	NOUN
fbem-18916	7	17	against	against	ADP
fbem-18916	7	18	the	the	DET
fbem-18916	7	19	gold	gold	NOUN
fbem-18916	7	20	and	and	CCONJ
fbem-18916	7	21	stock	stock	NOUN
fbem-18916	7	22	markets	market	NOUN
fbem-18916	7	23	,	,	PUNCT
fbem-18916	7	24	as	as	ADV
fbem-18916	7	25	well	well	ADV
fbem-18916	7	26	as	as	ADP
fbem-18916	7	27	commodity	commodity	NOUN
fbem-18916	7	28	markets	market	NOUN
fbem-18916	7	29	;	;	PUNCT
fbem-18916	7	30	(	(	PUNCT
fbem-18916	7	31	2	2	X
fbem-18916	7	32	)	)	PUNCT
fbem-18916	7	33	cryptocurrency	cryptocurrency	NOUN
fbem-18916	7	34	in	in	ADP
fbem-18916	7	35	traditional	traditional	ADJ
fbem-18916	7	36	investment	investment	NOUN
fbem-18916	7	37	portfolios	portfolio	NOUN
fbem-18916	7	38	can	can	AUX
fbem-18916	7	39	enhance	enhance	VERB
fbem-18916	7	40	the	the	DET
fbem-18916	7	41	risk	risk	NOUN
fbem-18916	7	42	-	-	PUNCT
fbem-18916	7	43	return	return	NOUN
fbem-18916	7	44	ratio	ratio	NOUN
fbem-18916	7	45	by	by	ADP
fbem-18916	7	46	adding	add	VERB
fbem-18916	7	47	it	it	PRON
fbem-18916	7	48	to	to	ADP
fbem-18916	7	49	the	the	DET
fbem-18916	7	50	asset	asset	NOUN
fbem-18916	7	51	mix	mix	NOUN
fbem-18916	7	52	.	.	PUNCT
fbem-18916	8	1	keywords	keyword	NOUN
fbem-18916	8	2	:	:	PUNCT
fbem-18916	8	3	digital	digital	ADJ
fbem-18916	8	4	assets	asset	NOUN
fbem-18916	8	5	;	;	PUNCT
fbem-18916	8	6	tail	tail	NOUN
fbem-18916	8	7	risk	risk	NOUN
fbem-18916	8	8	;	;	PUNCT
fbem-18916	8	9	investment	investment	NOUN
fbem-18916	8	10	portfolio	portfolio	NOUN
fbem-18916	8	11	;	;	PUNCT
fbem-18916	8	12	garch	garch	NOUN
fbem-18916	8	13	;	;	PUNCT
fbem-18916	8	14	var	var	NOUN
fbem-18916	8	15	.	.	PUNCT
fbem-18916	9	1	1	1	X
fbem-18916	9	2	.	.	X
fbem-18916	9	3	introduction	introduction	NOUN
fbem-18916	9	4	1.1	1.1	NUM
fbem-18916	9	5	.	.	PUNCT
fbem-18916	10	1	background	background	NOUN
fbem-18916	10	2	and	and	CCONJ
fbem-18916	10	3	significance	significance	NOUN
fbem-18916	10	4	in	in	ADP
fbem-18916	10	5	today	today	NOUN
fbem-18916	10	6	's	's	PART
fbem-18916	10	7	world	world	NOUN
fbem-18916	10	8	,	,	PUNCT
fbem-18916	10	9	with	with	ADP
fbem-18916	10	10	the	the	DET
fbem-18916	10	11	wave	wave	NOUN
fbem-18916	10	12	of	of	ADP
fbem-18916	10	13	digitalization	digitalization	NOUN
fbem-18916	10	14	sweeping	sweep	VERB
fbem-18916	10	15	across	across	ADP
fbem-18916	10	16	the	the	DET
fbem-18916	10	17	globe	globe	NOUN
fbem-18916	10	18	,	,	PUNCT
fbem-18916	10	19	the	the	DET
fbem-18916	10	20	digital	digital	ADJ
fbem-18916	10	21	economy	economy	NOUN
fbem-18916	10	22	has	have	AUX
fbem-18916	10	23	witnessed	witness	VERB
fbem-18916	10	24	positive	positive	ADJ
fbem-18916	10	25	development	development	NOUN
fbem-18916	10	26	worldwide	worldwide	ADV
fbem-18916	10	27	.	.	PUNCT
fbem-18916	11	1	over	over	ADP
fbem-18916	11	2	the	the	DET
fbem-18916	11	3	past	past	ADJ
fbem-18916	11	4	decade	decade	NOUN
fbem-18916	11	5	,	,	PUNCT
fbem-18916	11	6	the	the	DET
fbem-18916	11	7	market	market	NOUN
fbem-18916	11	8	value	value	NOUN
fbem-18916	11	9	of	of	ADP
fbem-18916	11	10	digital	digital	ADJ
fbem-18916	11	11	assets	asset	NOUN
fbem-18916	11	12	and	and	CCONJ
fbem-18916	11	13	the	the	DET
fbem-18916	11	14	market	market	NOUN
fbem-18916	11	15	capitalization	capitalization	NOUN
fbem-18916	11	16	of	of	ADP
fbem-18916	11	17	digital	digital	ADJ
fbem-18916	11	18	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	11	19	have	have	AUX
fbem-18916	11	20	experienced	experience	VERB
fbem-18916	11	21	significant	significant	ADJ
fbem-18916	11	22	growth	growth	NOUN
fbem-18916	11	23	across	across	ADP
fbem-18916	11	24	various	various	ADJ
fbem-18916	11	25	types	type	NOUN
fbem-18916	11	26	[	[	X
fbem-18916	11	27	1	1	NUM
fbem-18916	11	28	]	]	PUNCT
fbem-18916	11	29	.	.	PUNCT
fbem-18916	12	1	from	from	ADP
fbem-18916	12	2	the	the	DET
fbem-18916	12	3	perspective	perspective	NOUN
fbem-18916	12	4	of	of	ADP
fbem-18916	12	5	china	china	PROPN
fbem-18916	12	6	's	's	PART
fbem-18916	12	7	actual	actual	ADJ
fbem-18916	12	8	situation	situation	NOUN
fbem-18916	12	9	,	,	PUNCT
fbem-18916	12	10	due	due	ADP
fbem-18916	12	11	to	to	ADP
fbem-18916	12	12	the	the	DET
fbem-18916	12	13	development	development	NOUN
fbem-18916	12	14	of	of	ADP
fbem-18916	12	15	the	the	DET
fbem-18916	12	16	market	market	NOUN
fbem-18916	12	17	economy	economy	NOUN
fbem-18916	12	18	and	and	CCONJ
fbem-18916	12	19	the	the	DET
fbem-18916	12	20	continuous	continuous	ADJ
fbem-18916	12	21	improvement	improvement	NOUN
fbem-18916	12	22	in	in	ADP
fbem-18916	12	23	people	people	NOUN
fbem-18916	12	24	's	's	PART
fbem-18916	12	25	living	living	NOUN
fbem-18916	12	26	standards	standard	NOUN
fbem-18916	12	27	,	,	PUNCT
fbem-18916	12	28	there	there	PRON
fbem-18916	12	29	is	be	VERB
fbem-18916	12	30	an	an	DET
fbem-18916	12	31	increasing	increase	VERB
fbem-18916	12	32	awareness	awareness	NOUN
fbem-18916	12	33	and	and	CCONJ
fbem-18916	12	34	willingness	willingness	NOUN
fbem-18916	12	35	among	among	ADP
fbem-18916	12	36	people	people	NOUN
fbem-18916	12	37	to	to	PART
fbem-18916	12	38	invest	invest	VERB
fbem-18916	12	39	,	,	PUNCT
fbem-18916	12	40	coupled	couple	VERB
fbem-18916	12	41	with	with	ADP
fbem-18916	12	42	a	a	DET
fbem-18916	12	43	deeper	deep	ADJ
fbem-18916	12	44	understanding	understanding	NOUN
fbem-18916	12	45	of	of	ADP
fbem-18916	12	46	finance	finance	NOUN
fbem-18916	12	47	.	.	PUNCT
fbem-18916	13	1	in	in	ADP
fbem-18916	13	2	order	order	NOUN
fbem-18916	13	3	to	to	PART
fbem-18916	13	4	increase	increase	VERB
fbem-18916	13	5	wealth	wealth	NOUN
fbem-18916	13	6	,	,	PUNCT
fbem-18916	13	7	people	people	NOUN
fbem-18916	13	8	are	be	AUX
fbem-18916	13	9	keen	keen	ADJ
fbem-18916	13	10	on	on	ADP
fbem-18916	13	11	asset	asset	NOUN
fbem-18916	13	12	allocation	allocation	NOUN
fbem-18916	13	13	and	and	CCONJ
fbem-18916	13	14	investment	investment	NOUN
fbem-18916	13	15	.	.	PUNCT
fbem-18916	14	1	at	at	ADP
fbem-18916	14	2	the	the	DET
fbem-18916	14	3	g20	g20	NOUN
fbem-18916	14	4	summit	summit	NOUN
fbem-18916	14	5	held	hold	VERB
fbem-18916	14	6	in	in	ADP
fbem-18916	14	7	hangzhou	hangzhou	PROPN
fbem-18916	14	8	,	,	PUNCT
fbem-18916	14	9	a	a	DET
fbem-18916	14	10	partnership	partnership	NOUN
fbem-18916	14	11	was	be	AUX
fbem-18916	14	12	established	establish	VERB
fbem-18916	14	13	through	through	ADP
fbem-18916	14	14	g20	g20	NOUN
fbem-18916	14	15	cooperation	cooperation	NOUN
fbem-18916	14	16	.	.	PUNCT
fbem-18916	15	1	president	president	PROPN
fbem-18916	15	2	xi	xi	PROPN
fbem-18916	15	3	mentioned	mention	VERB
fbem-18916	15	4	at	at	ADP
fbem-18916	15	5	the	the	DET
fbem-18916	15	6	2018	2018	NUM
fbem-18916	15	7	apec	apec	PROPN
fbem-18916	15	8	summit	summit	NOUN
fbem-18916	15	9	that	that	PRON
fbem-18916	15	10	the	the	DET
fbem-18916	15	11	digital	digital	ADJ
fbem-18916	15	12	economy	economy	NOUN
fbem-18916	15	13	is	be	AUX
fbem-18916	15	14	the	the	DET
fbem-18916	15	15	way	way	NOUN
fbem-18916	15	16	forward	forward	ADV
fbem-18916	15	17	for	for	ADP
fbem-18916	15	18	global	global	ADJ
fbem-18916	15	19	development	development	NOUN
fbem-18916	15	20	.	.	PUNCT
fbem-18916	16	1	this	this	PRON
fbem-18916	16	2	indicates	indicate	VERB
fbem-18916	16	3	that	that	SCONJ
fbem-18916	16	4	the	the	DET
fbem-18916	16	5	country	country	NOUN
fbem-18916	16	6	places	place	VERB
fbem-18916	16	7	digital	digital	ADJ
fbem-18916	16	8	economic	economic	ADJ
fbem-18916	16	9	development	development	NOUN
fbem-18916	16	10	in	in	ADP
fbem-18916	16	11	an	an	DET
fbem-18916	16	12	important	important	ADJ
fbem-18916	16	13	position	position	NOUN
fbem-18916	16	14	and	and	CCONJ
fbem-18916	16	15	provides	provide	VERB
fbem-18916	16	16	infrastructure	infrastructure	NOUN
fbem-18916	16	17	and	and	CCONJ
fbem-18916	16	18	institutional	institutional	ADJ
fbem-18916	16	19	guarantees	guarantee	NOUN
fbem-18916	16	20	for	for	ADP
fbem-18916	16	21	it	it	PRON
fbem-18916	16	22	.	.	PUNCT
fbem-18916	17	1	in	in	ADP
fbem-18916	17	2	this	this	DET
fbem-18916	17	3	process	process	NOUN
fbem-18916	17	4	,	,	PUNCT
fbem-18916	17	5	the	the	DET
fbem-18916	17	6	united	united	PROPN
fbem-18916	17	7	states	states	PROPN
fbem-18916	17	8	quickly	quickly	ADV
fbem-18916	17	9	recognized	recognize	VERB
fbem-18916	17	10	the	the	DET
fbem-18916	17	11	importance	importance	NOUN
fbem-18916	17	12	of	of	ADP
fbem-18916	17	13	the	the	DET
fbem-18916	17	14	digital	digital	ADJ
fbem-18916	17	15	economy	economy	NOUN
fbem-18916	17	16	.	.	PUNCT
fbem-18916	18	1	coupled	couple	VERB
fbem-18916	18	2	with	with	ADP
fbem-18916	18	3	its	its	PRON
fbem-18916	18	4	overall	overall	ADJ
fbem-18916	18	5	economic	economic	ADJ
fbem-18916	18	6	size	size	NOUN
fbem-18916	18	7	and	and	CCONJ
fbem-18916	18	8	rapid	rapid	ADJ
fbem-18916	18	9	technological	technological	ADJ
fbem-18916	18	10	development	development	NOUN
fbem-18916	18	11	,	,	PUNCT
fbem-18916	18	12	the	the	DET
fbem-18916	18	13	size	size	NOUN
fbem-18916	18	14	of	of	ADP
fbem-18916	18	15	the	the	DET
fbem-18916	18	16	u.s	u.s	PROPN
fbem-18916	18	17	.	.	PROPN
fbem-18916	18	18	digital	digital	ADJ
fbem-18916	18	19	economy	economy	NOUN
fbem-18916	18	20	reached	reach	VERB
fbem-18916	18	21	$	$	SYM
fbem-18916	18	22	13	13	NUM
fbem-18916	18	23	trillion	trillion	NUM
fbem-18916	18	24	in	in	ADP
fbem-18916	18	25	2019	2019	NUM
fbem-18916	18	26	.	.	PUNCT
fbem-18916	19	1	as	as	ADP
fbem-18916	19	2	the	the	DET
fbem-18916	19	3	world	world	NOUN
fbem-18916	19	4	's	's	PART
fbem-18916	19	5	second	second	ADV
fbem-18916	19	6	-	-	PUNCT
fbem-18916	19	7	largest	large	ADJ
fbem-18916	19	8	economy	economy	NOUN
fbem-18916	19	9	,	,	PUNCT
fbem-18916	19	10	china	china	PROPN
fbem-18916	19	11	's	's	PART
fbem-18916	19	12	scale	scale	NOUN
fbem-18916	19	13	is	be	AUX
fbem-18916	19	14	less	less	ADJ
fbem-18916	19	15	than	than	ADP
fbem-18916	19	16	half	half	DET
fbem-18916	19	17	that	that	DET
fbem-18916	19	18	of	of	ADP
fbem-18916	19	19	the	the	DET
fbem-18916	19	20	united	united	PROPN
fbem-18916	19	21	states	states	PROPN
fbem-18916	19	22	.	.	PUNCT
fbem-18916	20	1	nowadays	nowadays	ADV
fbem-18916	20	2	,	,	PUNCT
fbem-18916	20	3	using	use	VERB
fbem-18916	20	4	blockchain	blockchain	PROPN
fbem-18916	20	5	technology	technology	NOUN
fbem-18916	20	6	for	for	ADP
fbem-18916	20	7	online	online	ADJ
fbem-18916	20	8	transactions	transaction	NOUN
fbem-18916	20	9	can	can	AUX
fbem-18916	20	10	connect	connect	VERB
fbem-18916	20	11	values	value	NOUN
fbem-18916	20	12	and	and	CCONJ
fbem-18916	20	13	facilitate	facilitate	NOUN
fbem-18916	20	14	transactions	transaction	NOUN
fbem-18916	20	15	between	between	ADP
fbem-18916	20	16	buyers	buyer	NOUN
fbem-18916	20	17	and	and	CCONJ
fbem-18916	20	18	sellers	seller	NOUN
fbem-18916	20	19	.	.	PUNCT
fbem-18916	21	1	it	it	PRON
fbem-18916	21	2	has	have	AUX
fbem-18916	21	3	also	also	ADV
fbem-18916	21	4	spawned	spawn	VERB
fbem-18916	21	5	digital	digital	ADJ
fbem-18916	21	6	assets	asset	NOUN
fbem-18916	21	7	such	such	ADJ
fbem-18916	21	8	as	as	ADP
fbem-18916	21	9	blockchain	blockchain	NOUN
fbem-18916	21	10	-	-	PUNCT
fbem-18916	21	11	based	base	VERB
fbem-18916	21	12	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	21	13	.	.	PUNCT
fbem-18916	22	1	since	since	SCONJ
fbem-18916	22	2	its	its	PRON
fbem-18916	22	3	inception	inception	NOUN
fbem-18916	22	4	,	,	PUNCT
fbem-18916	22	5	bitcoin	bitcoin	PROPN
fbem-18916	22	6	has	have	AUX
fbem-18916	22	7	flourished	flourish	VERB
fbem-18916	22	8	and	and	CCONJ
fbem-18916	22	9	gradually	gradually	ADV
fbem-18916	22	10	evolved	evolve	VERB
fbem-18916	22	11	into	into	ADP
fbem-18916	22	12	a	a	DET
fbem-18916	22	13	global	global	ADJ
fbem-18916	22	14	digital	digital	ADJ
fbem-18916	22	15	cryptocurrency	cryptocurrency	NOUN
fbem-18916	22	16	market	market	NOUN
fbem-18916	22	17	,	,	PUNCT
fbem-18916	22	18	attracting	attract	VERB
fbem-18916	22	19	attention	attention	NOUN
fbem-18916	22	20	and	and	CCONJ
fbem-18916	22	21	recognition	recognition	NOUN
fbem-18916	23	1	[	[	X
fbem-18916	23	2	2	2	NUM
fbem-18916	23	3	]	]	PUNCT
fbem-18916	23	4	.	.	PUNCT
fbem-18916	24	1	during	during	ADP
fbem-18916	24	2	the	the	DET
fbem-18916	24	3	pandemic	pandemic	ADJ
fbem-18916	24	4	,	,	PUNCT
fbem-18916	24	5	many	many	ADJ
fbem-18916	24	6	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	24	7	experienced	experience	VERB
fbem-18916	24	8	soaring	soar	VERB
fbem-18916	24	9	prices	price	NOUN
fbem-18916	24	10	and	and	CCONJ
fbem-18916	24	11	trading	trading	NOUN
fbem-18916	24	12	volumes	volume	NOUN
fbem-18916	24	13	,	,	PUNCT
fbem-18916	24	14	temporarily	temporarily	ADV
fbem-18916	24	15	surpassing	surpass	VERB
fbem-18916	24	16	the	the	DET
fbem-18916	24	17	market	market	NOUN
fbem-18916	24	18	capitalization	capitalization	NOUN
fbem-18916	24	19	of	of	ADP
fbem-18916	24	20	the	the	DET
fbem-18916	24	21	us	us	PROPN
fbem-18916	24	22	dollar	dollar	NOUN
fbem-18916	24	23	.	.	PUNCT
fbem-18916	25	1	the	the	DET
fbem-18916	25	2	attractiveness	attractiveness	NOUN
fbem-18916	25	3	of	of	ADP
fbem-18916	25	4	digital	digital	ADJ
fbem-18916	25	5	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	25	6	in	in	ADP
fbem-18916	25	7	global	global	ADJ
fbem-18916	25	8	investment	investment	NOUN
fbem-18916	25	9	portfolios	portfolio	NOUN
fbem-18916	25	10	is	be	AUX
fbem-18916	25	11	increasing	increase	VERB
fbem-18916	25	12	.	.	PUNCT
fbem-18916	26	1	it	it	PRON
fbem-18916	26	2	has	have	AUX
fbem-18916	26	3	become	become	VERB
fbem-18916	26	4	an	an	DET
fbem-18916	26	5	asset	asset	NOUN
fbem-18916	26	6	.	.	PUNCT
fbem-18916	27	1	however	however	ADV
fbem-18916	27	2	,	,	PUNCT
fbem-18916	27	3	behind	behind	ADP
fbem-18916	27	4	the	the	DET
fbem-18916	27	5	soaring	soar	VERB
fbem-18916	27	6	market	market	NOUN
fbem-18916	27	7	capitalization	capitalization	NOUN
fbem-18916	27	8	of	of	ADP
fbem-18916	27	9	digital	digital	ADJ
fbem-18916	27	10	assets	asset	NOUN
fbem-18916	27	11	lies	lie	VERB
fbem-18916	27	12	risks	risk	NOUN
fbem-18916	27	13	.	.	PUNCT
fbem-18916	28	1	essentially	essentially	ADV
fbem-18916	28	2	,	,	PUNCT
fbem-18916	28	3	digital	digital	ADJ
fbem-18916	28	4	assets	asset	NOUN
fbem-18916	28	5	,	,	PUNCT
fbem-18916	28	6	like	like	ADP
fbem-18916	28	7	other	other	ADJ
fbem-18916	28	8	commodities	commodity	NOUN
fbem-18916	28	9	,	,	PUNCT
fbem-18916	28	10	are	be	AUX
fbem-18916	28	11	influenced	influence	VERB
fbem-18916	28	12	to	to	ADP
fbem-18916	28	13	a	a	DET
fbem-18916	28	14	certain	certain	ADJ
fbem-18916	28	15	extent	extent	NOUN
fbem-18916	28	16	by	by	ADP
fbem-18916	28	17	supply	supply	NOUN
fbem-18916	28	18	and	and	CCONJ
fbem-18916	28	19	demand	demand	NOUN
fbem-18916	28	20	.	.	PUNCT
fbem-18916	29	1	when	when	SCONJ
fbem-18916	29	2	supply	supply	NOUN
fbem-18916	29	3	exceeds	exceed	VERB
fbem-18916	29	4	demand	demand	NOUN
fbem-18916	29	5	,	,	PUNCT
fbem-18916	29	6	prices	price	NOUN
fbem-18916	29	7	fall	fall	VERB
fbem-18916	29	8	,	,	PUNCT
fbem-18916	29	9	and	and	CCONJ
fbem-18916	29	10	when	when	SCONJ
fbem-18916	29	11	supply	supply	NOUN
fbem-18916	29	12	is	be	AUX
fbem-18916	29	13	less	less	ADJ
fbem-18916	29	14	than	than	ADP
fbem-18916	29	15	demand	demand	NOUN
fbem-18916	29	16	,	,	PUNCT
fbem-18916	29	17	prices	price	NOUN
fbem-18916	29	18	rise	rise	VERB
fbem-18916	29	19	.	.	PUNCT
fbem-18916	30	1	supply	supply	NOUN
fbem-18916	30	2	and	and	CCONJ
fbem-18916	30	3	demand	demand	NOUN
fbem-18916	30	4	can	can	AUX
fbem-18916	30	5	be	be	AUX
fbem-18916	30	6	said	say	VERB
fbem-18916	30	7	to	to	PART
fbem-18916	30	8	be	be	AUX
fbem-18916	30	9	the	the	DET
fbem-18916	30	10	most	most	ADV
fbem-18916	30	11	fundamental	fundamental	ADJ
fbem-18916	30	12	factors	factor	NOUN
fbem-18916	30	13	causing	cause	VERB
fbem-18916	30	14	currency	currency	NOUN
fbem-18916	30	15	price	price	NOUN
fbem-18916	30	16	fluctuations	fluctuation	NOUN
fbem-18916	30	17	.	.	PUNCT
fbem-18916	31	1	some	some	DET
fbem-18916	31	2	currencies	currency	NOUN
fbem-18916	31	3	experience	experience	VERB
fbem-18916	31	4	sharp	sharp	ADJ
fbem-18916	31	5	declines	decline	NOUN
fbem-18916	31	6	or	or	CCONJ
fbem-18916	31	7	fail	fail	VERB
fbem-18916	31	8	to	to	PART
fbem-18916	31	9	appreciate	appreciate	VERB
fbem-18916	31	10	due	due	ADJ
fbem-18916	31	11	to	to	ADP
fbem-18916	31	12	oversupply	oversupply	VERB
fbem-18916	31	13	,	,	PUNCT
fbem-18916	31	14	where	where	SCONJ
fbem-18916	31	15	supply	supply	NOUN
fbem-18916	31	16	exceeds	exceed	VERB
fbem-18916	31	17	demand	demand	NOUN
fbem-18916	31	18	,	,	PUNCT
fbem-18916	31	19	making	make	VERB
fbem-18916	31	20	it	it	PRON
fbem-18916	31	21	naturally	naturally	ADV
fbem-18916	31	22	difficult	difficult	ADJ
fbem-18916	31	23	to	to	PART
fbem-18916	31	24	appreciate	appreciate	VERB
fbem-18916	31	25	.	.	PUNCT
fbem-18916	32	1	therefore	therefore	ADV
fbem-18916	32	2	,	,	PUNCT
fbem-18916	32	3	an	an	DET
fbem-18916	32	4	issue	issue	NOUN
fbem-18916	32	5	worth	worth	ADJ
fbem-18916	32	6	noting	note	VERB
fbem-18916	32	7	is	be	AUX
fbem-18916	32	8	how	how	SCONJ
fbem-18916	32	9	to	to	PART
fbem-18916	32	10	measure	measure	VERB
fbem-18916	32	11	the	the	DET
fbem-18916	32	12	tail	tail	NOUN
fbem-18916	32	13	risk	risk	NOUN
fbem-18916	32	14	of	of	ADP
fbem-18916	32	15	digital	digital	ADJ
fbem-18916	32	16	assets	asset	NOUN
fbem-18916	32	17	and	and	CCONJ
fbem-18916	32	18	allocate	allocate	VERB
fbem-18916	32	19	and	and	CCONJ
fbem-18916	32	20	diversify	diversify	ADJ
fbem-18916	32	21	portfolios	portfolio	NOUN
fbem-18916	32	22	of	of	ADP
fbem-18916	32	23	digital	digital	ADJ
fbem-18916	32	24	assets	asset	NOUN
fbem-18916	32	25	with	with	ADP
fbem-18916	32	26	both	both	CCONJ
fbem-18916	32	27	academic	academic	ADJ
fbem-18916	32	28	and	and	CCONJ
fbem-18916	32	29	practical	practical	ADJ
fbem-18916	32	30	value	value	NOUN
fbem-18916	32	31	.	.	PUNCT
fbem-18916	33	1	the	the	DET
fbem-18916	33	2	application	application	NOUN
fbem-18916	33	3	value	value	NOUN
fbem-18916	33	4	lies	lie	VERB
fbem-18916	33	5	in	in	ADP
fbem-18916	33	6	utilizing	utilize	VERB
fbem-18916	33	7	the	the	DET
fbem-18916	33	8	special	special	ADJ
fbem-18916	33	9	properties	property	NOUN
fbem-18916	33	10	of	of	ADP
fbem-18916	33	11	digital	digital	ADJ
fbem-18916	33	12	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	33	13	to	to	PART
fbem-18916	33	14	diversify	diversify	VERB
fbem-18916	33	15	and	and	CCONJ
fbem-18916	33	16	hedge	hedge	VERB
fbem-18916	33	17	risks	risk	NOUN
fbem-18916	33	18	in	in	ADP
fbem-18916	33	19	financial	financial	ADJ
fbem-18916	33	20	practice	practice	NOUN
fbem-18916	33	21	by	by	ADP
fbem-18916	33	22	studying	study	VERB
fbem-18916	33	23	the	the	DET
fbem-18916	33	24	allocation	allocation	NOUN
fbem-18916	33	25	and	and	CCONJ
fbem-18916	33	26	combination	combination	NOUN
fbem-18916	33	27	of	of	ADP
fbem-18916	33	28	digital	digital	ADJ
fbem-18916	33	29	assets	asset	NOUN
fbem-18916	33	30	.	.	PUNCT
fbem-18916	34	1	as	as	ADP
fbem-18916	34	2	a	a	DET
fbem-18916	34	3	new	new	ADJ
fbem-18916	34	4	asset	asset	NOUN
fbem-18916	34	5	,	,	PUNCT
fbem-18916	34	6	digital	digital	ADJ
fbem-18916	34	7	cryptocurrency	cryptocurrency	NOUN
fbem-18916	34	8	remains	remain	VERB
fbem-18916	34	9	a	a	DET
fbem-18916	34	10	mystery	mystery	NOUN
fbem-18916	34	11	.	.	PUNCT
fbem-18916	35	1	research	research	NOUN
fbem-18916	35	2	on	on	ADP
fbem-18916	35	3	digital	digital	ADJ
fbem-18916	35	4	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	35	5	is	be	AUX
fbem-18916	35	6	predominant	predominant	ADJ
fbem-18916	35	7	.	.	PUNCT
fbem-18916	36	1	expanding	expand	VERB
fbem-18916	36	2	portfolio	portfolio	NOUN
fbem-18916	36	3	theory	theory	NOUN
fbem-18916	36	4	to	to	ADP
fbem-18916	36	5	the	the	DET
fbem-18916	36	6	field	field	NOUN
fbem-18916	36	7	of	of	ADP
fbem-18916	36	8	digital	digital	ADJ
fbem-18916	36	9	assets	asset	NOUN
fbem-18916	36	10	not	not	PART
fbem-18916	36	11	only	only	ADV
fbem-18916	36	12	enhances	enhance	VERB
fbem-18916	36	13	portfolio	portfolio	NOUN
fbem-18916	36	14	theory	theory	NOUN
fbem-18916	36	15	in	in	ADP
fbem-18916	36	16	the	the	DET
fbem-18916	36	17	digital	digital	ADJ
fbem-18916	36	18	environment	environment	NOUN
fbem-18916	36	19	but	but	CCONJ
fbem-18916	36	20	also	also	ADV
fbem-18916	36	21	helps	help	VERB
fbem-18916	36	22	improve	improve	VERB
fbem-18916	36	23	digital	digital	ADJ
fbem-18916	36	24	asset	asset	NOUN
fbem-18916	36	25	pricing	pricing	NOUN
fbem-18916	36	26	and	and	CCONJ
fbem-18916	36	27	other	other	ADJ
fbem-18916	36	28	related	related	ADJ
fbem-18916	36	29	theories	theory	NOUN
fbem-18916	36	30	[	[	X
fbem-18916	36	31	3	3	NUM
fbem-18916	36	32	]	]	PUNCT
fbem-18916	36	33	.	.	PUNCT
fbem-18916	37	1	1.2	1.2	NUM
fbem-18916	37	2	.	.	PUNCT
fbem-18916	37	3	research	research	NOUN
fbem-18916	37	4	content	content	NOUN
fbem-18916	37	5	this	this	DET
fbem-18916	37	6	paper	paper	NOUN
fbem-18916	37	7	aims	aim	VERB
fbem-18916	37	8	to	to	PART
fbem-18916	37	9	study	study	VERB
fbem-18916	37	10	the	the	DET
fbem-18916	37	11	tail	tail	NOUN
fbem-18916	37	12	risk	risk	NOUN
fbem-18916	37	13	hedging	hedging	NOUN
fbem-18916	37	14	in	in	ADP
fbem-18916	37	15	the	the	DET
fbem-18916	37	16	digital	digital	ADJ
fbem-18916	37	17	asset	asset	NOUN
fbem-18916	37	18	market	market	NOUN
fbem-18916	37	19	.	.	PUNCT
fbem-18916	38	1	based	base	VERB
fbem-18916	38	2	on	on	ADP
fbem-18916	38	3	this	this	PRON
fbem-18916	38	4	,	,	PUNCT
fbem-18916	38	5	the	the	DET
fbem-18916	38	6	main	main	ADJ
fbem-18916	38	7	research	research	NOUN
fbem-18916	38	8	content	content	NOUN
fbem-18916	38	9	of	of	ADP
fbem-18916	38	10	this	this	DET
fbem-18916	38	11	paper	paper	NOUN
fbem-18916	38	12	is	be	AUX
fbem-18916	38	13	designed	design	VERB
fbem-18916	38	14	as	as	SCONJ
fbem-18916	38	15	follows	follow	VERB
fbem-18916	38	16	:	:	PUNCT
fbem-18916	38	17	(	(	PUNCT
fbem-18916	38	18	1	1	X
fbem-18916	38	19	)	)	PUNCT
fbem-18916	38	20	descriptive	descriptive	ADJ
fbem-18916	38	21	statistics	statistic	NOUN
fbem-18916	38	22	and	and	CCONJ
fbem-18916	38	23	correlation	correlation	NOUN
fbem-18916	38	24	analysis	analysis	NOUN
fbem-18916	38	25	of	of	ADP
fbem-18916	38	26	digital	digital	ADJ
fbem-18916	38	27	assets	asset	NOUN
fbem-18916	38	28	and	and	CCONJ
fbem-18916	38	29	related	related	ADJ
fbem-18916	38	30	variables	variable	NOUN
fbem-18916	38	31	.	.	PUNCT
fbem-18916	39	1	bitcoin	bitcoin	PROPN
fbem-18916	39	2	,	,	PUNCT
fbem-18916	39	3	shanghai	shanghai	PROPN
fbem-18916	39	4	stock	stock	PROPN
fbem-18916	39	5	exchange	exchange	PROPN
fbem-18916	39	6	index	index	PROPN
fbem-18916	39	7	,	,	PUNCT
fbem-18916	39	8	sse	sse	PROPN
fbem-18916	39	9	corporate	corporate	ADJ
fbem-18916	39	10	bond	bond	NOUN
fbem-18916	39	11	index	index	NOUN
fbem-18916	39	12	,	,	PUNCT
fbem-18916	39	13	shenzhen	shenzhen	PROPN
fbem-18916	39	14	bulk	bulk	PROPN
fbem-18916	39	15	commodity	commodity	PROPN
fbem-18916	39	16	index	index	NOUN
fbem-18916	39	17	,	,	PUNCT
fbem-18916	39	18	gold	gold	NOUN
fbem-18916	39	19	futures	future	NOUN
fbem-18916	39	20	.	.	PUNCT
fbem-18916	40	1	descriptive	descriptive	ADJ
fbem-18916	40	2	statistical	statistical	ADJ
fbem-18916	40	3	analysis	analysis	NOUN
fbem-18916	40	4	of	of	ADP
fbem-18916	40	5	weekly	weekly	ADJ
fbem-18916	40	6	returns	return	NOUN
fbem-18916	40	7	from	from	ADP
fbem-18916	40	8	july	july	PROPN
fbem-18916	40	9	2	2	NUM
fbem-18916	40	10	,	,	PUNCT
fbem-18916	40	11	2017	2017	NUM
fbem-18916	40	12	,	,	PUNCT
fbem-18916	40	13	to	to	ADP
fbem-18916	40	14	december	december	PROPN
fbem-18916	40	15	26	26	NUM
fbem-18916	40	16	,	,	PUNCT
fbem-18916	40	17	2021	2021	NUM
fbem-18916	40	18	,	,	PUNCT
fbem-18916	40	19	to	to	PART
fbem-18916	40	20	determine	determine	VERB
fbem-18916	40	21	if	if	SCONJ
fbem-18916	40	22	the	the	DET
fbem-18916	40	23	garch	garch	NOUN
fbem-18916	40	24	model	model	NOUN
fbem-18916	40	25	is	be	AUX
fbem-18916	40	26	suitable	suitable	ADJ
fbem-18916	40	27	.	.	PUNCT
fbem-18916	41	1	at	at	ADP
fbem-18916	41	2	the	the	DET
fbem-18916	41	3	same	same	ADJ
fbem-18916	41	4	time	time	NOUN
fbem-18916	41	5	,	,	PUNCT
fbem-18916	41	6	this	this	DET
fbem-18916	41	7	paper	paper	NOUN
fbem-18916	41	8	also	also	ADV
fbem-18916	41	9	conducted	conduct	VERB
fbem-18916	41	10	an	an	DET
fbem-18916	41	11	overall	overall	ADJ
fbem-18916	41	12	correlation	correlation	NOUN
fbem-18916	41	13	analysis	analysis	NOUN
fbem-18916	41	14	of	of	ADP
fbem-18916	41	15	various	various	ADJ
fbem-18916	41	16	indicators	indicator	NOUN
fbem-18916	41	17	to	to	PART
fbem-18916	41	18	examine	examine	VERB
fbem-18916	41	19	the	the	DET
fbem-18916	41	20	relationship	relationship	NOUN
fbem-18916	41	21	between	between	ADP
fbem-18916	41	22	different	different	ADJ
fbem-18916	41	23	indicators	indicator	NOUN
fbem-18916	41	24	and	and	CCONJ
fbem-18916	41	25	analyze	analyze	VERB
fbem-18916	41	26	their	their	PRON
fbem-18916	41	27	correlation	correlation	NOUN
fbem-18916	41	28	with	with	ADP
fbem-18916	41	29	various	various	ADJ
fbem-18916	41	30	asset	asset	NOUN
fbem-18916	41	31	classes	class	NOUN
fbem-18916	41	32	.	.	PUNCT
fbem-18916	42	1	(	(	PUNCT
fbem-18916	42	2	2	2	X
fbem-18916	42	3	)	)	PUNCT
fbem-18916	42	4	this	this	DET
fbem-18916	42	5	paper	paper	NOUN
fbem-18916	42	6	discusses	discuss	VERB
fbem-18916	42	7	the	the	DET
fbem-18916	42	8	tail	tail	NOUN
fbem-18916	42	9	risk	risk	NOUN
fbem-18916	42	10	and	and	CCONJ
fbem-18916	42	11	hedging	hedging	NOUN
fbem-18916	42	12	effect	effect	NOUN
fbem-18916	42	13	of	of	ADP
fbem-18916	42	14	digital	digital	ADJ
fbem-18916	42	15	assets	asset	NOUN
fbem-18916	42	16	.	.	PUNCT
fbem-18916	43	1	the	the	DET
fbem-18916	43	2	digital	digital	ADJ
fbem-18916	43	3	asset	asset	NOUN
fbem-18916	43	4	market	market	NOUN
fbem-18916	43	5	will	will	AUX
fbem-18916	43	6	be	be	AUX
fbem-18916	43	7	represented	represent	VERB
fbem-18916	43	8	by	by	ADP
fbem-18916	43	9	bitcoin	bitcoin	NOUN
fbem-18916	43	10	in	in	ADP
fbem-18916	43	11	digital	digital	ADJ
fbem-18916	43	12	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	43	13	,	,	PUNCT
fbem-18916	43	14	with	with	ADP
fbem-18916	43	15	the	the	DET
fbem-18916	43	16	shanghai	shanghai	PROPN
fbem-18916	43	17	stock	stock	PROPN
fbem-18916	43	18	exchange	exchange	PROPN
fbem-18916	43	19	index	index	NOUN
fbem-18916	43	20	as	as	ADP
fbem-18916	43	21	the	the	DET
fbem-18916	43	22	benchmark	benchmark	NOUN
fbem-18916	43	23	for	for	ADP
fbem-18916	43	24	the	the	DET
fbem-18916	43	25	stock	stock	NOUN
fbem-18916	43	26	market	market	NOUN
fbem-18916	43	27	,	,	PUNCT
fbem-18916	43	28	the	the	DET
fbem-18916	43	29	299	299	NUM
fbem-18916	43	30	sse	sse	NOUN
fbem-18916	43	31	corporate	corporate	ADJ
fbem-18916	43	32	bond	bond	NOUN
fbem-18916	43	33	index	index	NOUN
fbem-18916	43	34	as	as	ADP
fbem-18916	43	35	the	the	DET
fbem-18916	43	36	reference	reference	NOUN
fbem-18916	43	37	for	for	ADP
fbem-18916	43	38	the	the	DET
fbem-18916	43	39	bond	bond	NOUN
fbem-18916	43	40	market	market	NOUN
fbem-18916	43	41	,	,	PUNCT
fbem-18916	43	42	and	and	CCONJ
fbem-18916	43	43	the	the	DET
fbem-18916	43	44	shenzhen	shenzhen	PROPN
fbem-18916	43	45	bulk	bulk	PROPN
fbem-18916	43	46	commodity	commodity	NOUN
fbem-18916	43	47	index	index	NOUN
fbem-18916	43	48	and	and	CCONJ
fbem-18916	43	49	gold	gold	NOUN
fbem-18916	43	50	futures	future	NOUN
fbem-18916	43	51	index	index	NOUN
fbem-18916	43	52	as	as	ADP
fbem-18916	43	53	representatives	representative	NOUN
fbem-18916	43	54	for	for	ADP
fbem-18916	43	55	the	the	DET
fbem-18916	43	56	commodity	commodity	NOUN
fbem-18916	43	57	market	market	NOUN
fbem-18916	43	58	.	.	PUNCT
fbem-18916	44	1	the	the	DET
fbem-18916	44	2	garch	garch	NOUN
fbem-18916	44	3	model	model	NOUN
fbem-18916	44	4	is	be	AUX
fbem-18916	44	5	used	use	VERB
fbem-18916	44	6	for	for	ADP
fbem-18916	44	7	correlation	correlation	NOUN
fbem-18916	44	8	analysis	analysis	NOUN
fbem-18916	44	9	.	.	PUNCT
fbem-18916	45	1	by	by	ADP
fbem-18916	45	2	calculating	calculate	VERB
fbem-18916	45	3	the	the	DET
fbem-18916	45	4	var	var	NOUN
fbem-18916	45	5	value	value	NOUN
fbem-18916	45	6	of	of	ADP
fbem-18916	45	7	bitcoin	bitcoin	NOUN
fbem-18916	45	8	using	use	VERB
fbem-18916	45	9	t	t	PROPN
fbem-18916	45	10	-	-	PUNCT
fbem-18916	45	11	statistics	statistic	NOUN
fbem-18916	45	12	and	and	CCONJ
fbem-18916	45	13	the	the	DET
fbem-18916	45	14	garch	garch	NOUN
fbem-18916	45	15	model	model	NOUN
fbem-18916	45	16	(	(	PUNCT
fbem-18916	45	17	as	as	SCONJ
fbem-18916	45	18	bitcoin	bitcoin	NOUN
fbem-18916	45	19	occupies	occupy	VERB
fbem-18916	45	20	a	a	DET
fbem-18916	45	21	large	large	ADJ
fbem-18916	45	22	market	market	NOUN
fbem-18916	45	23	share	share	NOUN
fbem-18916	45	24	in	in	ADP
fbem-18916	45	25	the	the	DET
fbem-18916	45	26	digital	digital	ADJ
fbem-18916	45	27	asset	asset	NOUN
fbem-18916	45	28	market	market	NOUN
fbem-18916	45	29	,	,	PUNCT
fbem-18916	45	30	with	with	ADP
fbem-18916	45	31	bitcoin	bitcoin	PROPN
fbem-18916	45	32	's	's	PART
fbem-18916	45	33	market	market	NOUN
fbem-18916	45	34	value	value	NOUN
fbem-18916	45	35	reaching	reach	VERB
fbem-18916	45	36	41.15	41.15	NUM
fbem-18916	45	37	%	%	NOUN
fbem-18916	45	38	of	of	ADP
fbem-18916	45	39	the	the	DET
fbem-18916	45	40	total	total	ADJ
fbem-18916	45	41	market	market	NOUN
fbem-18916	45	42	value	value	NOUN
fbem-18916	45	43	of	of	ADP
fbem-18916	45	44	digital	digital	ADJ
fbem-18916	45	45	assets	asset	NOUN
fbem-18916	45	46	as	as	ADP
fbem-18916	45	47	of	of	ADP
fbem-18916	45	48	april	april	PROPN
fbem-18916	45	49	2022	2022	NUM
fbem-18916	45	50	,	,	PUNCT
fbem-18916	45	51	almost	almost	ADV
fbem-18916	45	52	half	half	NOUN
fbem-18916	45	53	of	of	ADP
fbem-18916	45	54	the	the	DET
fbem-18916	45	55	share	share	NOUN
fbem-18916	45	56	)	)	PUNCT
fbem-18916	45	57	.	.	PUNCT
fbem-18916	46	1	(	(	PUNCT
fbem-18916	46	2	3	3	X
fbem-18916	46	3	)	)	PUNCT
fbem-18916	46	4	study	study	NOUN
fbem-18916	46	5	on	on	ADP
fbem-18916	46	6	the	the	DET
fbem-18916	46	7	risk	risk	NOUN
fbem-18916	46	8	diversification	diversification	NOUN
fbem-18916	46	9	effect	effect	NOUN
fbem-18916	46	10	of	of	ADP
fbem-18916	46	11	digital	digital	ADJ
fbem-18916	46	12	assets	asset	NOUN
fbem-18916	46	13	[	[	X
fbem-18916	46	14	4	4	NUM
fbem-18916	46	15	]	]	PUNCT
fbem-18916	46	16	.	.	PUNCT
fbem-18916	47	1	using	use	VERB
fbem-18916	47	2	the	the	DET
fbem-18916	47	3	markowitz	markowitz	PROPN
fbem-18916	47	4	efficient	efficient	ADJ
fbem-18916	47	5	frontier	frontier	NOUN
fbem-18916	47	6	model	model	NOUN
fbem-18916	47	7	and	and	CCONJ
fbem-18916	47	8	excel	excel	PROPN
fbem-18916	47	9	's	's	PART
fbem-18916	47	10	solver	solver	NOUN
fbem-18916	47	11	function	function	NOUN
fbem-18916	47	12	,	,	PUNCT
fbem-18916	47	13	the	the	DET
fbem-18916	47	14	paper	paper	NOUN
fbem-18916	47	15	maximizes	maximize	VERB
fbem-18916	47	16	hedging	hedge	VERB
fbem-18916	47	17	for	for	ADP
fbem-18916	47	18	digital	digital	ADJ
fbem-18916	47	19	assets	asset	NOUN
fbem-18916	47	20	(	(	PUNCT
fbem-18916	47	21	bitcoin	bitcoin	NOUN
fbem-18916	47	22	)	)	PUNCT
fbem-18916	47	23	through	through	ADP
fbem-18916	47	24	asset	asset	NOUN
fbem-18916	47	25	allocation	allocation	NOUN
fbem-18916	47	26	and	and	CCONJ
fbem-18916	47	27	portfolio	portfolio	NOUN
fbem-18916	47	28	combination	combination	NOUN
fbem-18916	47	29	.	.	PUNCT
fbem-18916	48	1	1.3	1.3	NUM
fbem-18916	48	2	.	.	PUNCT
fbem-18916	49	1	research	research	NOUN
fbem-18916	49	2	methods	method	NOUN
fbem-18916	49	3	based	base	VERB
fbem-18916	49	4	on	on	ADP
fbem-18916	49	5	the	the	DET
fbem-18916	49	6	above	above	ADJ
fbem-18916	49	7	research	research	NOUN
fbem-18916	49	8	content	content	NOUN
fbem-18916	49	9	,	,	PUNCT
fbem-18916	49	10	this	this	DET
fbem-18916	49	11	paper	paper	NOUN
fbem-18916	49	12	mainly	mainly	ADV
fbem-18916	49	13	adopts	adopt	VERB
fbem-18916	49	14	the	the	DET
fbem-18916	49	15	following	follow	VERB
fbem-18916	49	16	research	research	NOUN
fbem-18916	49	17	methods	method	NOUN
fbem-18916	49	18	:	:	PUNCT
fbem-18916	49	19	qualitative	qualitative	ADJ
fbem-18916	49	20	and	and	CCONJ
fbem-18916	49	21	quantitative	quantitative	ADJ
fbem-18916	49	22	research	research	NOUN
fbem-18916	49	23	methods	method	NOUN
fbem-18916	49	24	are	be	AUX
fbem-18916	49	25	used	use	VERB
fbem-18916	49	26	.	.	PUNCT
fbem-18916	50	1	qualitative	qualitative	ADJ
fbem-18916	50	2	analysis	analysis	NOUN
fbem-18916	50	3	is	be	AUX
fbem-18916	50	4	to	to	PART
fbem-18916	50	5	analyze	analyze	VERB
fbem-18916	50	6	the	the	DET
fbem-18916	50	7	research	research	NOUN
fbem-18916	50	8	objects	object	NOUN
fbem-18916	50	9	from	from	ADP
fbem-18916	50	10	the	the	DET
fbem-18916	50	11	perspective	perspective	NOUN
fbem-18916	50	12	of	of	ADP
fbem-18916	50	13	"	"	PUNCT
fbem-18916	50	14	quality	quality	NOUN
fbem-18916	50	15	"	"	PUNCT
fbem-18916	50	16	.	.	PUNCT
fbem-18916	51	1	specifically	specifically	ADV
fbem-18916	51	2	,	,	PUNCT
fbem-18916	51	3	it	it	PRON
fbem-18916	51	4	is	be	AUX
fbem-18916	51	5	to	to	PART
fbem-18916	51	6	process	process	VERB
fbem-18916	51	7	the	the	DET
fbem-18916	51	8	obtained	obtain	VERB
fbem-18916	51	9	materials	material	NOUN
fbem-18916	51	10	through	through	ADP
fbem-18916	51	11	methods	method	NOUN
fbem-18916	51	12	such	such	ADJ
fbem-18916	51	13	as	as	ADP
fbem-18916	51	14	induction	induction	NOUN
fbem-18916	51	15	,	,	PUNCT
fbem-18916	51	16	deduction	deduction	NOUN
fbem-18916	51	17	,	,	PUNCT
fbem-18916	51	18	analysis	analysis	NOUN
fbem-18916	51	19	and	and	CCONJ
fbem-18916	51	20	synthesis	synthesis	NOUN
fbem-18916	51	21	,	,	PUNCT
fbem-18916	51	22	abstraction	abstraction	NOUN
fbem-18916	51	23	,	,	PUNCT
fbem-18916	51	24	and	and	CCONJ
fbem-18916	51	25	generalization	generalization	NOUN
fbem-18916	51	26	,	,	PUNCT
fbem-18916	51	27	in	in	ADP
fbem-18916	51	28	order	order	NOUN
fbem-18916	51	29	to	to	PART
fbem-18916	51	30	distinguish	distinguish	VERB
fbem-18916	51	31	between	between	ADP
fbem-18916	51	32	true	true	ADJ
fbem-18916	51	33	and	and	CCONJ
fbem-18916	51	34	false	false	ADJ
fbem-18916	51	35	,	,	PUNCT
fbem-18916	51	36	to	to	PART
fbem-18916	51	37	connect	connect	VERB
fbem-18916	51	38	causes	cause	NOUN
fbem-18916	51	39	and	and	CCONJ
fbem-18916	51	40	effects	effect	NOUN
fbem-18916	51	41	,	,	PUNCT
fbem-18916	51	42	to	to	PART
fbem-18916	51	43	explore	explore	VERB
fbem-18916	51	44	from	from	ADP
fbem-18916	51	45	surface	surface	NOUN
fbem-18916	51	46	to	to	ADP
fbem-18916	51	47	essence	essence	NOUN
fbem-18916	51	48	,	,	PUNCT
fbem-18916	51	49	and	and	CCONJ
fbem-18916	51	50	to	to	PART
fbem-18916	51	51	achieve	achieve	VERB
fbem-18916	51	52	the	the	DET
fbem-18916	51	53	purpose	purpose	NOUN
fbem-18916	51	54	of	of	ADP
fbem-18916	51	55	understanding	understand	VERB
fbem-18916	51	56	the	the	DET
fbem-18916	51	57	essence	essence	NOUN
fbem-18916	51	58	of	of	ADP
fbem-18916	51	59	things	thing	NOUN
fbem-18916	51	60	and	and	CCONJ
fbem-18916	51	61	revealing	reveal	VERB
fbem-18916	51	62	internal	internal	ADJ
fbem-18916	51	63	laws	law	NOUN
fbem-18916	51	64	.	.	PUNCT
fbem-18916	52	1	based	base	VERB
fbem-18916	52	2	on	on	ADP
fbem-18916	52	3	the	the	DET
fbem-18916	52	4	literature	literature	NOUN
fbem-18916	52	5	on	on	ADP
fbem-18916	52	6	digital	digital	ADJ
fbem-18916	52	7	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	52	8	at	at	ADP
fbem-18916	52	9	home	home	NOUN
fbem-18916	52	10	and	and	CCONJ
fbem-18916	52	11	abroad	abroad	ADV
fbem-18916	52	12	,	,	PUNCT
fbem-18916	52	13	this	this	DET
fbem-18916	52	14	paper	paper	NOUN
fbem-18916	52	15	qualitatively	qualitatively	ADV
fbem-18916	52	16	defines	define	VERB
fbem-18916	52	17	digital	digital	ADJ
fbem-18916	52	18	assets	asset	NOUN
fbem-18916	52	19	and	and	CCONJ
fbem-18916	52	20	digital	digital	ADJ
fbem-18916	52	21	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	52	22	based	base	VERB
fbem-18916	52	23	on	on	ADP
fbem-18916	52	24	their	their	PRON
fbem-18916	52	25	functions	function	NOUN
fbem-18916	52	26	,	,	PUNCT
fbem-18916	52	27	categorizing	categorize	VERB
fbem-18916	52	28	them	they	PRON
fbem-18916	52	29	as	as	ADP
fbem-18916	52	30	a	a	DET
fbem-18916	52	31	type	type	NOUN
fbem-18916	52	32	of	of	ADP
fbem-18916	52	33	digital	digital	ADJ
fbem-18916	52	34	asset	asset	NOUN
fbem-18916	53	1	[	[	X
fbem-18916	53	2	5	5	NUM
fbem-18916	53	3	]	]	PUNCT
fbem-18916	53	4	.	.	PUNCT
fbem-18916	54	1	quantitative	quantitative	ADJ
fbem-18916	54	2	analysis	analysis	NOUN
fbem-18916	54	3	is	be	AUX
fbem-18916	54	4	a	a	DET
fbem-18916	54	5	method	method	NOUN
fbem-18916	54	6	used	use	VERB
fbem-18916	54	7	in	in	ADP
fbem-18916	54	8	scientific	scientific	ADJ
fbem-18916	54	9	research	research	NOUN
fbem-18916	54	10	to	to	PART
fbem-18916	54	11	accurately	accurately	ADV
fbem-18916	54	12	understand	understand	VERB
fbem-18916	54	13	the	the	DET
fbem-18916	54	14	research	research	NOUN
fbem-18916	54	15	objects	object	NOUN
fbem-18916	54	16	by	by	ADP
fbem-18916	54	17	quantitative	quantitative	ADJ
fbem-18916	54	18	means	mean	NOUN
fbem-18916	54	19	,	,	PUNCT
fbem-18916	54	20	thereby	thereby	ADV
fbem-18916	54	21	better	well	ADV
fbem-18916	54	22	revealing	reveal	VERB
fbem-18916	54	23	laws	law	NOUN
fbem-18916	54	24	,	,	PUNCT
fbem-18916	54	25	grasping	grasp	VERB
fbem-18916	54	26	essences	essence	NOUN
fbem-18916	54	27	,	,	PUNCT
fbem-18916	54	28	clarifying	clarify	VERB
fbem-18916	54	29	relationships	relationship	NOUN
fbem-18916	54	30	,	,	PUNCT
fbem-18916	54	31	and	and	CCONJ
fbem-18916	54	32	predicting	predict	VERB
fbem-18916	54	33	future	future	ADJ
fbem-18916	54	34	trends	trend	NOUN
fbem-18916	54	35	.	.	PUNCT
fbem-18916	55	1	based	base	VERB
fbem-18916	55	2	on	on	ADP
fbem-18916	55	3	the	the	DET
fbem-18916	55	4	data	datum	NOUN
fbem-18916	55	5	of	of	ADP
fbem-18916	55	6	the	the	DET
fbem-18916	55	7	objects	object	NOUN
fbem-18916	55	8	themselves	themselves	PRON
fbem-18916	55	9	,	,	PUNCT
fbem-18916	55	10	this	this	DET
fbem-18916	55	11	paper	paper	NOUN
fbem-18916	55	12	statistically	statistically	ADV
fbem-18916	55	13	analyzes	analyze	VERB
fbem-18916	55	14	and	and	CCONJ
fbem-18916	55	15	evaluates	evaluate	VERB
fbem-18916	55	16	them	they	PRON
fbem-18916	55	17	,	,	PUNCT
fbem-18916	55	18	establishes	establish	VERB
fbem-18916	55	19	corresponding	corresponding	ADJ
fbem-18916	55	20	mathematical	mathematical	ADJ
fbem-18916	55	21	models	model	NOUN
fbem-18916	55	22	,	,	PUNCT
fbem-18916	55	23	and	and	CCONJ
fbem-18916	55	24	evaluates	evaluate	VERB
fbem-18916	55	25	them	they	PRON
fbem-18916	55	26	.	.	PUNCT
fbem-18916	56	1	firstly	firstly	ADV
fbem-18916	56	2	,	,	PUNCT
fbem-18916	56	3	the	the	DET
fbem-18916	56	4	data	datum	NOUN
fbem-18916	56	5	of	of	ADP
fbem-18916	56	6	each	each	DET
fbem-18916	56	7	variable	variable	NOUN
fbem-18916	56	8	is	be	AUX
fbem-18916	56	9	processed	process	VERB
fbem-18916	56	10	and	and	CCONJ
fbem-18916	56	11	analyzed	analyze	VERB
fbem-18916	56	12	,	,	PUNCT
fbem-18916	56	13	mainly	mainly	ADV
fbem-18916	56	14	based	base	VERB
fbem-18916	56	15	on	on	ADP
fbem-18916	56	16	the	the	DET
fbem-18916	56	17	variables	variable	NOUN
fbem-18916	56	18	selected	select	VERB
fbem-18916	56	19	by	by	ADP
fbem-18916	56	20	domestic	domestic	ADJ
fbem-18916	56	21	and	and	CCONJ
fbem-18916	56	22	foreign	foreign	ADJ
fbem-18916	56	23	scholars	scholar	NOUN
fbem-18916	56	24	when	when	SCONJ
fbem-18916	56	25	studying	study	VERB
fbem-18916	56	26	related	related	ADJ
fbem-18916	56	27	issues	issue	NOUN
fbem-18916	56	28	,	,	PUNCT
fbem-18916	56	29	and	and	CCONJ
fbem-18916	56	30	analyzed	analyze	VERB
fbem-18916	56	31	according	accord	VERB
fbem-18916	56	32	to	to	ADP
fbem-18916	56	33	the	the	DET
fbem-18916	56	34	actual	actual	ADJ
fbem-18916	56	35	situation	situation	NOUN
fbem-18916	56	36	.	.	PUNCT
fbem-18916	57	1	reasonable	reasonable	ADJ
fbem-18916	57	2	time	time	NOUN
fbem-18916	57	3	periods	period	NOUN
fbem-18916	57	4	are	be	AUX
fbem-18916	57	5	selected	select	VERB
fbem-18916	57	6	,	,	PUNCT
fbem-18916	57	7	irrelevant	irrelevant	ADJ
fbem-18916	57	8	data	datum	NOUN
fbem-18916	57	9	is	be	AUX
fbem-18916	57	10	filtered	filter	VERB
fbem-18916	57	11	out	out	ADP
fbem-18916	57	12	,	,	PUNCT
fbem-18916	57	13	empirical	empirical	ADJ
fbem-18916	57	14	analysis	analysis	NOUN
fbem-18916	57	15	is	be	AUX
fbem-18916	57	16	conducted	conduct	VERB
fbem-18916	57	17	,	,	PUNCT
fbem-18916	57	18	and	and	CCONJ
fbem-18916	57	19	simple	simple	ADJ
fbem-18916	57	20	descriptive	descriptive	ADJ
fbem-18916	57	21	statistics	statistic	NOUN
fbem-18916	57	22	are	be	AUX
fbem-18916	57	23	performed	perform	VERB
fbem-18916	57	24	,	,	PUNCT
fbem-18916	57	25	etc	etc	X
fbem-18916	57	26	.	.	X
fbem-18916	57	27	1.4	1.4	NUM
fbem-18916	57	28	.	.	PUNCT
fbem-18916	58	1	innovations	innovation	NOUN
fbem-18916	58	2	and	and	CCONJ
fbem-18916	58	3	limitations	limitation	NOUN
fbem-18916	58	4	(	(	PUNCT
fbem-18916	58	5	1	1	NUM
fbem-18916	58	6	)	)	PUNCT
fbem-18916	58	7	innovative	innovative	ADJ
fbem-18916	58	8	research	research	NOUN
fbem-18916	58	9	perspectives	perspective	NOUN
fbem-18916	58	10	.	.	PUNCT
fbem-18916	59	1	currently	currently	ADV
fbem-18916	59	2	,	,	PUNCT
fbem-18916	59	3	there	there	PRON
fbem-18916	59	4	is	be	VERB
fbem-18916	59	5	limited	limited	ADJ
fbem-18916	59	6	research	research	NOUN
fbem-18916	59	7	on	on	ADP
fbem-18916	59	8	digital	digital	ADJ
fbem-18916	59	9	assets	asset	NOUN
fbem-18916	59	10	.	.	PUNCT
fbem-18916	60	1	this	this	DET
fbem-18916	60	2	paper	paper	NOUN
fbem-18916	60	3	conducts	conduct	VERB
fbem-18916	60	4	research	research	NOUN
fbem-18916	60	5	from	from	ADP
fbem-18916	60	6	the	the	DET
fbem-18916	60	7	perspective	perspective	NOUN
fbem-18916	60	8	of	of	ADP
fbem-18916	60	9	digital	digital	ADJ
fbem-18916	60	10	assets	asset	NOUN
fbem-18916	60	11	and	and	CCONJ
fbem-18916	60	12	calculates	calculate	VERB
fbem-18916	60	13	the	the	DET
fbem-18916	60	14	tail	tail	NOUN
fbem-18916	60	15	risk	risk	NOUN
fbem-18916	60	16	of	of	ADP
fbem-18916	60	17	digital	digital	ADJ
fbem-18916	60	18	assets	asset	NOUN
fbem-18916	60	19	using	use	VERB
fbem-18916	60	20	the	the	DET
fbem-18916	60	21	var	var	NOUN
fbem-18916	60	22	method	method	NOUN
fbem-18916	60	23	,	,	PUNCT
fbem-18916	60	24	providing	provide	VERB
fbem-18916	60	25	insights	insight	NOUN
fbem-18916	60	26	into	into	ADP
fbem-18916	60	27	its	its	PRON
fbem-18916	60	28	proportion	proportion	NOUN
fbem-18916	60	29	in	in	ADP
fbem-18916	60	30	investment	investment	NOUN
fbem-18916	60	31	portfolios	portfolio	NOUN
fbem-18916	60	32	.	.	PUNCT
fbem-18916	61	1	(	(	PUNCT
fbem-18916	61	2	2	2	X
fbem-18916	61	3	)	)	PUNCT
fbem-18916	61	4	innovative	innovative	ADJ
fbem-18916	61	5	research	research	NOUN
fbem-18916	61	6	methods	method	NOUN
fbem-18916	61	7	.	.	PUNCT
fbem-18916	62	1	this	this	DET
fbem-18916	62	2	paper	paper	NOUN
fbem-18916	62	3	uses	use	VERB
fbem-18916	62	4	representative	representative	ADJ
fbem-18916	62	5	asset	asset	NOUN
fbem-18916	62	6	indicators	indicator	NOUN
fbem-18916	62	7	to	to	PART
fbem-18916	62	8	represent	represent	VERB
fbem-18916	62	9	various	various	ADJ
fbem-18916	62	10	asset	asset	NOUN
fbem-18916	62	11	classes	class	NOUN
fbem-18916	62	12	and	and	CCONJ
fbem-18916	62	13	employs	employ	VERB
fbem-18916	62	14	the	the	DET
fbem-18916	62	15	garch	garch	NOUN
fbem-18916	62	16	model	model	NOUN
fbem-18916	62	17	and	and	CCONJ
fbem-18916	62	18	var	var	PROPN
fbem-18916	62	19	model	model	NOUN
fbem-18916	62	20	to	to	PART
fbem-18916	62	21	study	study	VERB
fbem-18916	62	22	and	and	CCONJ
fbem-18916	62	23	analyze	analyze	VERB
fbem-18916	62	24	the	the	DET
fbem-18916	62	25	tail	tail	NOUN
fbem-18916	62	26	risk	risk	NOUN
fbem-18916	62	27	hedging	hedging	NOUN
fbem-18916	62	28	and	and	CCONJ
fbem-18916	62	29	diversification	diversification	NOUN
fbem-18916	62	30	effects	effect	NOUN
fbem-18916	62	31	of	of	ADP
fbem-18916	62	32	digital	digital	ADJ
fbem-18916	62	33	assets	asset	NOUN
fbem-18916	62	34	[	[	X
fbem-18916	62	35	6	6	NUM
fbem-18916	62	36	]	]	PUNCT
fbem-18916	62	37	.	.	PUNCT
fbem-18916	63	1	however	however	ADV
fbem-18916	63	2	,	,	PUNCT
fbem-18916	63	3	this	this	DET
fbem-18916	63	4	study	study	NOUN
fbem-18916	63	5	has	have	VERB
fbem-18916	63	6	the	the	DET
fbem-18916	63	7	following	follow	VERB
fbem-18916	63	8	limitations	limitation	NOUN
fbem-18916	63	9	:	:	PUNCT
fbem-18916	63	10	(	(	PUNCT
fbem-18916	63	11	1	1	X
fbem-18916	63	12	)	)	PUNCT
fbem-18916	63	13	this	this	DET
fbem-18916	63	14	paper	paper	NOUN
fbem-18916	63	15	only	only	ADV
fbem-18916	63	16	empirically	empirically	ADV
fbem-18916	63	17	studies	study	NOUN
fbem-18916	63	18	bitcoin	bitcoin	VERB
fbem-18916	63	19	,	,	PUNCT
fbem-18916	63	20	the	the	DET
fbem-18916	63	21	most	most	ADV
fbem-18916	63	22	representative	representative	ADJ
fbem-18916	63	23	digital	digital	ADJ
fbem-18916	63	24	cryptocurrency	cryptocurrency	NOUN
fbem-18916	63	25	in	in	ADP
fbem-18916	63	26	digital	digital	ADJ
fbem-18916	63	27	assets	asset	NOUN
fbem-18916	63	28	.	.	PUNCT
fbem-18916	64	1	however	however	ADV
fbem-18916	64	2	,	,	PUNCT
fbem-18916	64	3	due	due	ADP
fbem-18916	64	4	to	to	ADP
fbem-18916	64	5	the	the	DET
fbem-18916	64	6	limited	limited	ADJ
fbem-18916	64	7	sample	sample	NOUN
fbem-18916	64	8	size	size	NOUN
fbem-18916	64	9	,	,	PUNCT
fbem-18916	64	10	the	the	DET
fbem-18916	64	11	conclusions	conclusion	NOUN
fbem-18916	64	12	may	may	AUX
fbem-18916	64	13	be	be	AUX
fbem-18916	64	14	biased	bias	VERB
fbem-18916	64	15	.	.	PUNCT
fbem-18916	65	1	(	(	PUNCT
fbem-18916	65	2	2	2	NUM
fbem-18916	65	3	)	)	PUNCT
fbem-18916	65	4	due	due	ADP
fbem-18916	65	5	to	to	ADP
fbem-18916	65	6	the	the	DET
fbem-18916	65	7	limitations	limitation	NOUN
fbem-18916	65	8	of	of	ADP
fbem-18916	65	9	the	the	DET
fbem-18916	65	10	model	model	NOUN
fbem-18916	65	11	and	and	CCONJ
fbem-18916	65	12	the	the	DET
fbem-18916	65	13	selection	selection	NOUN
fbem-18916	65	14	and	and	CCONJ
fbem-18916	65	15	quantity	quantity	NOUN
fbem-18916	65	16	of	of	ADP
fbem-18916	65	17	data	datum	NOUN
fbem-18916	65	18	resources	resource	NOUN
fbem-18916	65	19	,	,	PUNCT
fbem-18916	65	20	the	the	DET
fbem-18916	65	21	sample	sample	NOUN
fbem-18916	65	22	size	size	NOUN
fbem-18916	65	23	and	and	CCONJ
fbem-18916	65	24	time	time	NOUN
fbem-18916	65	25	range	range	NOUN
fbem-18916	65	26	selected	select	VERB
fbem-18916	65	27	for	for	ADP
fbem-18916	65	28	the	the	DET
fbem-18916	65	29	study	study	NOUN
fbem-18916	65	30	are	be	AUX
fbem-18916	65	31	limited	limit	VERB
fbem-18916	65	32	,	,	PUNCT
fbem-18916	65	33	resulting	result	VERB
fbem-18916	65	34	in	in	ADP
fbem-18916	65	35	less	less	ADV
fbem-18916	65	36	significant	significant	ADJ
fbem-18916	65	37	research	research	NOUN
fbem-18916	65	38	results	result	NOUN
fbem-18916	65	39	.	.	PUNCT
fbem-18916	66	1	2	2	X
fbem-18916	66	2	.	.	X
fbem-18916	66	3	concept	concept	NOUN
fbem-18916	66	4	definitions	definition	NOUN
fbem-18916	66	5	,	,	PUNCT
fbem-18916	66	6	theoretical	theoretical	ADJ
fbem-18916	66	7	framework	framework	NOUN
fbem-18916	66	8	and	and	CCONJ
fbem-18916	66	9	literature	literature	NOUN
fbem-18916	66	10	review	review	NOUN
fbem-18916	66	11	2.1	2.1	NUM
fbem-18916	66	12	.	.	PUNCT
fbem-18916	67	1	concept	concept	NOUN
fbem-18916	67	2	definitions	definition	NOUN
fbem-18916	67	3	2.1.1	2.1.1	NUM
fbem-18916	67	4	.	.	PUNCT
fbem-18916	68	1	digital	digital	ADJ
fbem-18916	68	2	assets	asset	NOUN
fbem-18916	68	3	the	the	DET
fbem-18916	68	4	term	term	NOUN
fbem-18916	68	5	"	"	PUNCT
fbem-18916	68	6	digital	digital	ADJ
fbem-18916	68	7	asset	asset	NOUN
fbem-18916	68	8	"	"	PUNCT
fbem-18916	68	9	is	be	AUX
fbem-18916	68	10	primarily	primarily	ADV
fbem-18916	68	11	used	use	VERB
fbem-18916	68	12	in	in	ADP
fbem-18916	68	13	the	the	DET
fbem-18916	68	14	modern	modern	ADJ
fbem-18916	68	15	context	context	NOUN
fbem-18916	68	16	,	,	PUNCT
fbem-18916	68	17	first	first	ADV
fbem-18916	68	18	introduced	introduce	VERB
fbem-18916	68	19	with	with	ADP
fbem-18916	68	20	the	the	DET
fbem-18916	68	21	emergence	emergence	NOUN
fbem-18916	68	22	of	of	ADP
fbem-18916	68	23	blockchain	blockchain	PROPN
fbem-18916	68	24	technology	technology	PROPN
fbem-18916	68	25	and	and	CCONJ
fbem-18916	68	26	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	68	27	.	.	PUNCT
fbem-18916	69	1	coined	coin	VERB
fbem-18916	69	2	by	by	ADP
fbem-18916	69	3	kud	kud	PROPN
fbem-18916	69	4	in	in	ADP
fbem-18916	69	5	2009	2009	NUM
fbem-18916	69	6	,	,	PUNCT
fbem-18916	69	7	the	the	DET
fbem-18916	69	8	birth	birth	NOUN
fbem-18916	69	9	of	of	ADP
fbem-18916	69	10	the	the	DET
fbem-18916	69	11	first	first	ADJ
fbem-18916	69	12	cryptocurrency	cryptocurrency	NOUN
fbem-18916	69	13	,	,	PUNCT
fbem-18916	69	14	bitcoin	bitcoin	NOUN
fbem-18916	69	15	,	,	PUNCT
fbem-18916	69	16	became	become	VERB
fbem-18916	69	17	a	a	DET
fbem-18916	69	18	new	new	ADJ
fbem-18916	69	19	phenomenon	phenomenon	NOUN
fbem-18916	69	20	in	in	ADP
fbem-18916	69	21	the	the	DET
fbem-18916	69	22	field	field	NOUN
fbem-18916	69	23	of	of	ADP
fbem-18916	69	24	economics	economic	NOUN
fbem-18916	69	25	.	.	PUNCT
fbem-18916	70	1	simultaneously	simultaneously	ADV
fbem-18916	70	2	,	,	PUNCT
fbem-18916	70	3	the	the	DET
fbem-18916	70	4	development	development	NOUN
fbem-18916	70	5	of	of	ADP
fbem-18916	70	6	blockchain	blockchain	PROPN
fbem-18916	70	7	technology	technology	PROPN
fbem-18916	70	8	,	,	PUNCT
fbem-18916	70	9	a	a	DET
fbem-18916	70	10	distributed	distribute	VERB
fbem-18916	70	11	ledger	ledger	NOUN
fbem-18916	70	12	,	,	PUNCT
fbem-18916	70	13	constructed	construct	VERB
fbem-18916	70	14	transaction	transaction	NOUN
fbem-18916	70	15	blocks	block	NOUN
fbem-18916	70	16	in	in	ADP
fbem-18916	70	17	sequential	sequential	ADJ
fbem-18916	70	18	chains	chain	NOUN
fbem-18916	70	19	according	accord	VERB
fbem-18916	70	20	to	to	ADP
fbem-18916	70	21	certain	certain	ADJ
fbem-18916	70	22	rules	rule	NOUN
fbem-18916	70	23	,	,	PUNCT
fbem-18916	70	24	with	with	ADP
fbem-18916	70	25	each	each	DET
fbem-18916	70	26	subsequent	subsequent	ADJ
fbem-18916	70	27	block	block	NOUN
fbem-18916	70	28	containing	contain	VERB
fbem-18916	70	29	information	information	NOUN
fbem-18916	70	30	from	from	ADP
fbem-18916	70	31	the	the	DET
fbem-18916	70	32	previous	previous	ADJ
fbem-18916	70	33	one	one	NUM
fbem-18916	70	34	.	.	PUNCT
fbem-18916	71	1	this	this	DET
fbem-18916	71	2	blockchain	blockchain	PROPN
fbem-18916	71	3	operation	operation	NOUN
fbem-18916	71	4	ensures	ensure	VERB
fbem-18916	71	5	the	the	DET
fbem-18916	71	6	security	security	NOUN
fbem-18916	71	7	and	and	CCONJ
fbem-18916	71	8	transparency	transparency	NOUN
fbem-18916	71	9	of	of	ADP
fbem-18916	71	10	transactions	transaction	NOUN
fbem-18916	71	11	and	and	CCONJ
fbem-18916	71	12	processes	process	NOUN
fbem-18916	71	13	,	,	PUNCT
fbem-18916	71	14	leading	lead	VERB
fbem-18916	71	15	to	to	ADP
fbem-18916	71	16	its	its	PRON
fbem-18916	71	17	widespread	widespread	ADJ
fbem-18916	71	18	application	application	NOUN
fbem-18916	71	19	in	in	ADP
fbem-18916	71	20	various	various	ADJ
fbem-18916	71	21	fields	field	NOUN
fbem-18916	71	22	.	.	PUNCT
fbem-18916	72	1	these	these	DET
fbem-18916	72	2	trends	trend	NOUN
fbem-18916	72	3	have	have	AUX
fbem-18916	72	4	fueled	fuel	VERB
fbem-18916	72	5	the	the	DET
fbem-18916	72	6	rapid	rapid	ADJ
fbem-18916	72	7	development	development	NOUN
fbem-18916	72	8	of	of	ADP
fbem-18916	72	9	the	the	DET
fbem-18916	72	10	digital	digital	ADJ
fbem-18916	72	11	economy	economy	NOUN
fbem-18916	72	12	and	and	CCONJ
fbem-18916	72	13	sparked	spark	VERB
fbem-18916	72	14	significant	significant	ADJ
fbem-18916	72	15	attention	attention	NOUN
fbem-18916	72	16	to	to	ADP
fbem-18916	72	17	the	the	DET
fbem-18916	72	18	phenomenon	phenomenon	NOUN
fbem-18916	72	19	of	of	ADP
fbem-18916	72	20	digital	digital	ADJ
fbem-18916	72	21	assets	asset	NOUN
fbem-18916	72	22	.	.	PUNCT
fbem-18916	73	1	however	however	ADV
fbem-18916	73	2	,	,	PUNCT
fbem-18916	73	3	due	due	ADP
fbem-18916	73	4	to	to	ADP
fbem-18916	73	5	vague	vague	ADJ
fbem-18916	73	6	interpretations	interpretation	NOUN
fbem-18916	73	7	of	of	ADP
fbem-18916	73	8	the	the	DET
fbem-18916	73	9	definition	definition	NOUN
fbem-18916	73	10	of	of	ADP
fbem-18916	73	11	digital	digital	ADJ
fbem-18916	73	12	assets	asset	NOUN
fbem-18916	73	13	and	and	CCONJ
fbem-18916	73	14	the	the	DET
fbem-18916	73	15	lack	lack	NOUN
fbem-18916	73	16	of	of	ADP
fbem-18916	73	17	basic	basic	ADJ
fbem-18916	73	18	standards	standard	NOUN
fbem-18916	73	19	,	,	PUNCT
fbem-18916	73	20	some	some	DET
fbem-18916	73	21	entities	entity	NOUN
fbem-18916	73	22	are	be	AUX
fbem-18916	73	23	labeled	label	VERB
fbem-18916	73	24	as	as	ADP
fbem-18916	73	25	"	"	PUNCT
fbem-18916	73	26	digital	digital	ADJ
fbem-18916	73	27	assets	asset	NOUN
fbem-18916	73	28	"	"	PUNCT
fbem-18916	73	29	when	when	SCONJ
fbem-18916	73	30	they	they	PRON
fbem-18916	73	31	are	be	AUX
fbem-18916	73	32	not	not	PART
fbem-18916	73	33	actually	actually	ADV
fbem-18916	73	34	digital	digital	ADJ
fbem-18916	73	35	assets	asset	NOUN
fbem-18916	73	36	[	[	X
fbem-18916	73	37	7	7	NUM
fbem-18916	73	38	]	]	PUNCT
fbem-18916	73	39	.	.	PUNCT
fbem-18916	74	1	2.1.2	2.1.2	X
fbem-18916	74	2	.	.	PUNCT
fbem-18916	74	3	digital	digital	ADJ
fbem-18916	74	4	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	74	5	cryptocurrency	cryptocurrency	NOUN
fbem-18916	74	6	is	be	AUX
fbem-18916	74	7	one	one	NUM
fbem-18916	74	8	of	of	ADP
fbem-18916	74	9	the	the	DET
fbem-18916	74	10	developments	development	NOUN
fbem-18916	74	11	of	of	ADP
fbem-18916	74	12	blockchain	blockchain	PROPN
fbem-18916	74	13	technology	technology	PROPN
fbem-18916	74	14	,	,	PUNCT
fbem-18916	74	15	which	which	PRON
fbem-18916	74	16	is	be	AUX
fbem-18916	74	17	often	often	ADV
fbem-18916	74	18	used	use	VERB
fbem-18916	74	19	as	as	ADP
fbem-18916	74	20	decentralized	decentralize	VERB
fbem-18916	74	21	digital	digital	ADJ
fbem-18916	74	22	currency	currency	NOUN
fbem-18916	74	23	.	.	PUNCT
fbem-18916	75	1	the	the	DET
fbem-18916	75	2	term	term	NOUN
fbem-18916	75	3	"	"	PUNCT
fbem-18916	75	4	cryptocurrency	cryptocurrency	NOUN
fbem-18916	75	5	"	"	PUNCT
fbem-18916	75	6	refers	refer	VERB
fbem-18916	75	7	to	to	ADP
fbem-18916	75	8	a	a	DET
fbem-18916	75	9	type	type	NOUN
fbem-18916	75	10	of	of	ADP
fbem-18916	75	11	virtual	virtual	ADJ
fbem-18916	75	12	currency	currency	NOUN
fbem-18916	75	13	without	without	ADP
fbem-18916	75	14	physical	physical	ADJ
fbem-18916	75	15	form	form	NOUN
fbem-18916	75	16	,	,	PUNCT
fbem-18916	75	17	and	and	CCONJ
fbem-18916	75	18	"	"	PUNCT
fbem-18916	75	19	cryptocurrency	cryptocurrency	NOUN
fbem-18916	75	20	"	"	PUNCT
fbem-18916	75	21	also	also	ADV
fbem-18916	75	22	implies	imply	VERB
fbem-18916	75	23	that	that	SCONJ
fbem-18916	75	24	the	the	DET
fbem-18916	75	25	transaction	transaction	NOUN
fbem-18916	75	26	currency	currency	NOUN
fbem-18916	75	27	is	be	AUX
fbem-18916	75	28	invisible	invisible	ADJ
fbem-18916	75	29	and	and	CCONJ
fbem-18916	75	30	secure	secure	ADJ
fbem-18916	75	31	.	.	PUNCT
fbem-18916	76	1	this	this	DET
fbem-18916	76	2	digital	digital	ADJ
fbem-18916	76	3	currency	currency	NOUN
fbem-18916	76	4	has	have	VERB
fbem-18916	76	5	many	many	ADJ
fbem-18916	76	6	types	type	NOUN
fbem-18916	76	7	,	,	PUNCT
fbem-18916	76	8	such	such	ADJ
fbem-18916	76	9	as	as	ADP
fbem-18916	76	10	bitcoin	bitcoin	NOUN
fbem-18916	76	11	,	,	PUNCT
fbem-18916	76	12	ethereum	ethereum	NOUN
fbem-18916	76	13	,	,	PUNCT
fbem-18916	76	14	litecoin	litecoin	NOUN
fbem-18916	76	15	,	,	PUNCT
fbem-18916	76	16	monero	monero	NOUN
fbem-18916	76	17	,	,	PUNCT
fbem-18916	76	18	and	and	CCONJ
fbem-18916	76	19	many	many	ADJ
fbem-18916	76	20	others	other	NOUN
fbem-18916	76	21	.	.	PUNCT
fbem-18916	77	1	although	although	SCONJ
fbem-18916	77	2	it	it	PRON
fbem-18916	77	3	has	have	VERB
fbem-18916	77	4	no	no	DET
fbem-18916	77	5	physical	physical	ADJ
fbem-18916	77	6	form	form	NOUN
fbem-18916	77	7	,	,	PUNCT
fbem-18916	77	8	its	its	PRON
fbem-18916	77	9	function	function	NOUN
fbem-18916	77	10	is	be	AUX
fbem-18916	77	11	similar	similar	ADJ
fbem-18916	77	12	to	to	ADP
fbem-18916	77	13	traditional	traditional	ADJ
fbem-18916	77	14	currencies	currency	NOUN
fbem-18916	77	15	,	,	PUNCT
fbem-18916	77	16	and	and	CCONJ
fbem-18916	77	17	it	it	PRON
fbem-18916	77	18	has	have	VERB
fbem-18916	77	19	exchange	exchange	NOUN
fbem-18916	77	20	rates	rate	NOUN
fbem-18916	77	21	.	.	PUNCT
fbem-18916	78	1	the	the	DET
fbem-18916	78	2	fluctuation	fluctuation	NOUN
fbem-18916	78	3	of	of	ADP
fbem-18916	78	4	cryptocurrency	cryptocurrency	NOUN
fbem-18916	78	5	exchange	exchange	NOUN
fbem-18916	78	6	rates	rate	NOUN
fbem-18916	78	7	often	often	ADV
fbem-18916	78	8	leads	lead	VERB
fbem-18916	78	9	to	to	ADP
fbem-18916	78	10	unexpected	unexpected	ADJ
fbem-18916	78	11	events	event	NOUN
fbem-18916	78	12	,	,	PUNCT
fbem-18916	78	13	which	which	PRON
fbem-18916	78	14	traders	trader	NOUN
fbem-18916	78	15	often	often	ADV
fbem-18916	78	16	exploit	exploit	VERB
fbem-18916	78	17	.	.	PUNCT
fbem-18916	79	1	the	the	DET
fbem-18916	79	2	form	form	NOUN
fbem-18916	79	3	of	of	ADP
fbem-18916	79	4	cryptocurrency	cryptocurrency	NOUN
fbem-18916	79	5	trading	trading	NOUN
fbem-18916	79	6	involves	involve	VERB
fbem-18916	79	7	transferring	transfer	VERB
fbem-18916	79	8	from	from	ADP
fbem-18916	79	9	one	one	NUM
fbem-18916	79	10	person	person	NOUN
fbem-18916	79	11	to	to	ADP
fbem-18916	79	12	another	another	DET
fbem-18916	79	13	online	online	NOUN
fbem-18916	79	14	,	,	PUNCT
fbem-18916	79	15	allowing	allow	VERB
fbem-18916	79	16	for	for	ADP
fbem-18916	79	17	direct	direct	ADJ
fbem-18916	79	18	transactions	transaction	NOUN
fbem-18916	79	19	without	without	ADP
fbem-18916	79	20	intermediaries	intermediary	NOUN
fbem-18916	79	21	[	[	X
fbem-18916	79	22	8	8	NUM
fbem-18916	79	23	]	]	PUNCT
fbem-18916	79	24	.	.	PUNCT
fbem-18916	80	1	each	each	DET
fbem-18916	80	2	technology	technology	NOUN
fbem-18916	80	3	has	have	VERB
fbem-18916	80	4	its	its	PRON
fbem-18916	80	5	advantages	advantage	NOUN
fbem-18916	80	6	and	and	CCONJ
fbem-18916	80	7	disadvantages	disadvantage	NOUN
fbem-18916	80	8	besides	besides	SCONJ
fbem-18916	80	9	efficiency	efficiency	NOUN
fbem-18916	80	10	and	and	CCONJ
fbem-18916	80	11	convenience	convenience	NOUN
fbem-18916	80	12	.	.	PUNCT
fbem-18916	81	1	the	the	DET
fbem-18916	81	2	drawback	drawback	NOUN
fbem-18916	81	3	of	of	ADP
fbem-18916	81	4	cryptocurrency	cryptocurrency	NOUN
fbem-18916	81	5	is	be	AUX
fbem-18916	81	6	the	the	DET
fbem-18916	81	7	lack	lack	NOUN
fbem-18916	81	8	of	of	ADP
fbem-18916	81	9	an	an	DET
fbem-18916	81	10	authoritative	authoritative	ADJ
fbem-18916	81	11	institution	institution	NOUN
fbem-18916	81	12	responsible	responsible	ADJ
fbem-18916	81	13	for	for	ADP
fbem-18916	81	14	handling	handle	VERB
fbem-18916	81	15	all	all	DET
fbem-18916	81	16	issues	issue	NOUN
fbem-18916	81	17	that	that	PRON
fbem-18916	81	18	arise	arise	VERB
fbem-18916	81	19	in	in	ADP
fbem-18916	81	20	transactions	transaction	NOUN
fbem-18916	81	21	,	,	PUNCT
fbem-18916	81	22	and	and	CCONJ
fbem-18916	81	23	money	money	NOUN
fbem-18916	81	24	laundering	laundering	NOUN
fbem-18916	81	25	crimes	crime	NOUN
fbem-18916	81	26	frequently	frequently	ADV
fbem-18916	81	27	occur	occur	VERB
fbem-18916	81	28	,	,	PUNCT
fbem-18916	81	29	presenting	present	VERB
fbem-18916	81	30	a	a	DET
fbem-18916	81	31	challenge	challenge	NOUN
fbem-18916	81	32	in	in	ADP
fbem-18916	81	33	utilizing	utilize	VERB
fbem-18916	81	34	cryptocurrency	cryptocurrency	NOUN
fbem-18916	81	35	and	and	CCONJ
fbem-18916	81	36	blockchain	blockchain	PROPN
fbem-18916	81	37	technology	technology	PROPN
fbem-18916	81	38	in	in	ADP
fbem-18916	81	39	the	the	DET
fbem-18916	81	40	current	current	ADJ
fbem-18916	81	41	era	era	NOUN
fbem-18916	81	42	of	of	ADP
fbem-18916	81	43	globalization	globalization	NOUN
fbem-18916	81	44	.	.	PUNCT
fbem-18916	82	1	from	from	ADP
fbem-18916	82	2	a	a	DET
fbem-18916	82	3	conceptual	conceptual	ADJ
fbem-18916	82	4	perspective	perspective	NOUN
fbem-18916	82	5	,	,	PUNCT
fbem-18916	82	6	we	we	PRON
fbem-18916	82	7	can	can	AUX
fbem-18916	82	8	generally	generally	ADV
fbem-18916	82	9	classify	classify	VERB
fbem-18916	82	10	digital	digital	ADJ
fbem-18916	82	11	currencies	currency	NOUN
fbem-18916	82	12	into	into	ADP
fbem-18916	82	13	two	two	NUM
fbem-18916	82	14	categories	category	NOUN
fbem-18916	82	15	:	:	PUNCT
fbem-18916	82	16	non	non	ADJ
fbem-18916	82	17	-	-	ADJ
fbem-18916	82	18	legal	legal	ADJ
fbem-18916	82	19	digital	digital	ADJ
fbem-18916	82	20	currencies	currency	NOUN
fbem-18916	82	21	and	and	CCONJ
fbem-18916	82	22	central	central	ADJ
fbem-18916	82	23	bank	bank	NOUN
fbem-18916	82	24	digital	digital	ADJ
fbem-18916	82	25	currencies	currency	NOUN
fbem-18916	82	26	.	.	PUNCT
fbem-18916	83	1	non	non	ADJ
fbem-18916	83	2	-	-	ADJ
fbem-18916	83	3	legal	legal	ADJ
fbem-18916	83	4	digital	digital	ADJ
fbem-18916	83	5	currencies	currency	NOUN
fbem-18916	83	6	mainly	mainly	ADV
fbem-18916	83	7	include	include	VERB
fbem-18916	83	8	encrypted	encrypt	VERB
fbem-18916	83	9	digital	digital	ADJ
fbem-18916	83	10	currencies	currency	NOUN
fbem-18916	83	11	,	,	PUNCT
fbem-18916	83	12	namely	namely	ADV
fbem-18916	83	13	tokens	token	NOUN
fbem-18916	83	14	and	and	CCONJ
fbem-18916	83	15	coins	coin	NOUN
fbem-18916	83	16	.	.	PUNCT
fbem-18916	84	1	digital	digital	ADJ
fbem-18916	84	2	currencies	currency	NOUN
fbem-18916	84	3	can	can	AUX
fbem-18916	84	4	be	be	AUX
fbem-18916	84	5	roughly	roughly	ADV
fbem-18916	84	6	divided	divide	VERB
fbem-18916	84	7	into	into	ADP
fbem-18916	84	8	two	two	NUM
fbem-18916	84	9	stages	stage	NOUN
fbem-18916	84	10	based	base	VERB
fbem-18916	84	11	on	on	ADP
fbem-18916	84	12	their	their	PRON
fbem-18916	84	13	time	time	NOUN
fbem-18916	84	14	of	of	ADP
fbem-18916	84	15	emergence	emergence	NOUN
fbem-18916	84	16	:	:	PUNCT
fbem-18916	84	17	the	the	DET
fbem-18916	84	18	first	first	ADJ
fbem-18916	84	19	stage	stage	NOUN
fbem-18916	84	20	is	be	AUX
fbem-18916	84	21	the	the	DET
fbem-18916	84	22	emergence	emergence	NOUN
fbem-18916	84	23	of	of	ADP
fbem-18916	84	24	non	non	ADJ
fbem-18916	84	25	-	-	ADJ
fbem-18916	84	26	legal	legal	ADJ
fbem-18916	84	27	digital	digital	ADJ
fbem-18916	84	28	currencies	currency	NOUN
fbem-18916	84	29	,	,	PUNCT
fbem-18916	84	30	mostly	mostly	ADV
fbem-18916	84	31	consisting	consist	VERB
fbem-18916	84	32	of	of	ADP
fbem-18916	84	33	encrypted	encrypt	VERB
fbem-18916	84	34	digital	digital	ADJ
fbem-18916	84	35	currencies	currency	NOUN
fbem-18916	84	36	.	.	PUNCT
fbem-18916	85	1	the	the	DET
fbem-18916	85	2	earliest	early	ADJ
fbem-18916	85	3	ones	one	NOUN
fbem-18916	85	4	include	include	VERB
fbem-18916	85	5	bitcoin	bitcoin	NOUN
fbem-18916	85	6	,	,	PUNCT
fbem-18916	85	7	ethereum	ethereum	NOUN
fbem-18916	85	8	,	,	PUNCT
fbem-18916	85	9	and	and	CCONJ
fbem-18916	85	10	litecoin	litecoin	VERB
fbem-18916	85	11	.	.	PUNCT
fbem-18916	86	1	due	due	ADP
fbem-18916	86	2	to	to	ADP
fbem-18916	86	3	the	the	DET
fbem-18916	86	4	instability	instability	NOUN
fbem-18916	86	5	of	of	ADP
fbem-18916	86	6	their	their	PRON
fbem-18916	86	7	value	value	NOUN
fbem-18916	86	8	,	,	PUNCT
fbem-18916	86	9	stablecoin	stablecoin	PROPN
fbem-18916	86	10	emerged	emerge	VERB
fbem-18916	86	11	.	.	PUNCT
fbem-18916	87	1	the	the	DET
fbem-18916	87	2	second	second	ADJ
fbem-18916	87	3	stage	stage	NOUN
fbem-18916	87	4	is	be	AUX
fbem-18916	87	5	the	the	DET
fbem-18916	87	6	birth	birth	NOUN
fbem-18916	87	7	of	of	ADP
fbem-18916	87	8	legal	legal	ADJ
fbem-18916	87	9	digital	digital	ADJ
fbem-18916	87	10	currencies	currency	NOUN
fbem-18916	87	11	.	.	PUNCT
fbem-18916	88	1	due	due	ADP
fbem-18916	88	2	to	to	ADP
fbem-18916	88	3	the	the	DET
fbem-18916	88	4	significant	significant	ADJ
fbem-18916	88	5	problems	problem	NOUN
fbem-18916	88	6	arising	arise	VERB
fbem-18916	88	7	from	from	ADP
fbem-18916	88	8	non	non	ADJ
fbem-18916	88	9	-	-	ADJ
fbem-18916	88	10	legal	legal	ADJ
fbem-18916	88	11	digital	digital	ADJ
fbem-18916	88	12	currencies	currency	NOUN
fbem-18916	88	13	and	and	CCONJ
fbem-18916	88	14	the	the	DET
fbem-18916	88	15	threat	threat	NOUN
fbem-18916	88	16	they	they	PRON
fbem-18916	88	17	pose	pose	VERB
fbem-18916	88	18	to	to	ADP
fbem-18916	88	19	the	the	DET
fbem-18916	88	20	status	status	NOUN
fbem-18916	88	21	of	of	ADP
fbem-18916	88	22	sovereign	sovereign	ADJ
fbem-18916	88	23	currencies	currency	NOUN
fbem-18916	88	24	,	,	PUNCT
fbem-18916	88	25	central	central	ADJ
fbem-18916	88	26	bank	bank	NOUN
fbem-18916	88	27	digital	digital	ADJ
fbem-18916	88	28	currencies	currency	NOUN
fbem-18916	88	29	emerged	emerge	VERB
fbem-18916	88	30	[	[	PUNCT
fbem-18916	88	31	9	9	NUM
fbem-18916	88	32	]	]	PUNCT
fbem-18916	88	33	.	.	PUNCT
fbem-18916	89	1	cryptocurrency	cryptocurrency	NOUN
fbem-18916	89	2	,	,	PUNCT
fbem-18916	89	3	or	or	CCONJ
fbem-18916	89	4	crypto	crypto	NOUN
fbem-18916	89	5	-	-	NOUN
fbem-18916	89	6	currency	currency	NOUN
fbem-18916	89	7	,	,	PUNCT
fbem-18916	89	8	has	have	AUX
fbem-18916	89	9	only	only	ADV
fbem-18916	89	10	gained	gain	VERB
fbem-18916	89	11	attention	attention	NOUN
fbem-18916	89	12	in	in	ADP
fbem-18916	89	13	the	the	DET
fbem-18916	89	14	last	last	ADJ
fbem-18916	89	15	decade	decade	NOUN
fbem-18916	89	16	,	,	PUNCT
fbem-18916	89	17	primarily	primarily	ADV
fbem-18916	89	18	accompanying	accompany	VERB
fbem-18916	89	19	the	the	DET
fbem-18916	89	20	rapid	rapid	ADJ
fbem-18916	89	21	appreciation	appreciation	NOUN
fbem-18916	89	22	of	of	ADP
fbem-18916	89	23	mainstream	mainstream	NOUN
fbem-18916	89	24	encrypted	encrypt	VERB
fbem-18916	89	25	assets	asset	NOUN
fbem-18916	89	26	such	such	ADJ
fbem-18916	89	27	as	as	ADP
fbem-18916	89	28	bitcoin	bitcoin	NOUN
fbem-18916	89	29	,	,	PUNCT
fbem-18916	89	30	and	and	CCONJ
fbem-18916	89	31	is	be	AUX
fbem-18916	89	32	a	a	DET
fbem-18916	89	33	digital	digital	ADJ
fbem-18916	89	34	currency	currency	NOUN
fbem-18916	89	35	or	or	CCONJ
fbem-18916	89	36	virtual	virtual	ADJ
fbem-18916	89	37	currency	currency	NOUN
fbem-18916	89	38	built	build	VERB
fbem-18916	89	39	on	on	ADP
fbem-18916	89	40	encryption	encryption	NOUN
fbem-18916	89	41	algorithms	algorithm	NOUN
fbem-18916	89	42	and	and	CCONJ
fbem-18916	89	43	encryption	encryption	NOUN
fbem-18916	89	44	technology	technology	NOUN
fbem-18916	89	45	.	.	PUNCT
fbem-18916	90	1	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	90	2	are	be	AUX
fbem-18916	90	3	not	not	PART
fbem-18916	90	4	entirely	entirely	ADV
fbem-18916	90	5	300	300	NUM
fbem-18916	90	6	based	base	VERB
fbem-18916	90	7	on	on	ADP
fbem-18916	90	8	blockchain	blockchain	PROPN
fbem-18916	90	9	technology	technology	PROPN
fbem-18916	90	10	.	.	PUNCT
fbem-18916	91	1	for	for	ADP
fbem-18916	91	2	example	example	NOUN
fbem-18916	91	3	,	,	PUNCT
fbem-18916	91	4	digicash	digicash	NOUN
fbem-18916	91	5	,	,	PUNCT
fbem-18916	91	6	released	release	VERB
fbem-18916	91	7	in	in	ADP
fbem-18916	91	8	the	the	DET
fbem-18916	91	9	early	early	ADJ
fbem-18916	91	10	1990s	1990s	NUM
fbem-18916	91	11	,	,	PUNCT
fbem-18916	91	12	is	be	AUX
fbem-18916	91	13	one	one	NUM
fbem-18916	91	14	form	form	NOUN
fbem-18916	91	15	of	of	ADP
fbem-18916	91	16	encrypted	encrypt	VERB
fbem-18916	91	17	electronic	electronic	ADJ
fbem-18916	91	18	payment	payment	NOUN
fbem-18916	91	19	,	,	PUNCT
fbem-18916	91	20	but	but	CCONJ
fbem-18916	91	21	it	it	PRON
fbem-18916	91	22	is	be	AUX
fbem-18916	91	23	not	not	PART
fbem-18916	91	24	based	base	VERB
fbem-18916	91	25	on	on	ADP
fbem-18916	91	26	blockchain	blockchain	PROPN
fbem-18916	91	27	technology	technology	PROPN
fbem-18916	91	28	.	.	PUNCT
fbem-18916	92	1	2.2	2.2	NUM
fbem-18916	92	2	.	.	PUNCT
fbem-18916	92	3	theoretical	theoretical	ADJ
fbem-18916	92	4	framework	framework	NOUN
fbem-18916	92	5	the	the	DET
fbem-18916	92	6	theoretical	theoretical	ADJ
fbem-18916	92	7	foundation	foundation	NOUN
fbem-18916	92	8	of	of	ADP
fbem-18916	92	9	this	this	DET
fbem-18916	92	10	thesis	thesis	NOUN
fbem-18916	92	11	primarily	primarily	ADV
fbem-18916	92	12	lies	lie	VERB
fbem-18916	92	13	in	in	ADP
fbem-18916	92	14	the	the	DET
fbem-18916	92	15	theory	theory	NOUN
fbem-18916	92	16	of	of	ADP
fbem-18916	92	17	risk	risk	NOUN
fbem-18916	92	18	management	management	NOUN
fbem-18916	92	19	,	,	PUNCT
fbem-18916	92	20	encompassing	encompass	VERB
fbem-18916	92	21	two	two	NUM
fbem-18916	92	22	branches	branch	NOUN
fbem-18916	92	23	:	:	PUNCT
fbem-18916	92	24	portfolio	portfolio	NOUN
fbem-18916	92	25	theory	theory	NOUN
fbem-18916	92	26	and	and	CCONJ
fbem-18916	92	27	risk	risk	NOUN
fbem-18916	92	28	measurement	measurement	NOUN
fbem-18916	92	29	theory	theory	NOUN
fbem-18916	92	30	.	.	PUNCT
fbem-18916	93	1	2.2.1	2.2.1	NUM
fbem-18916	93	2	.	.	PUNCT
fbem-18916	93	3	portfolio	portfolio	NOUN
fbem-18916	93	4	theory	theory	NOUN
fbem-18916	93	5	portfolio	portfolio	NOUN
fbem-18916	93	6	theory	theory	NOUN
fbem-18916	93	7	can	can	AUX
fbem-18916	93	8	be	be	AUX
fbem-18916	93	9	broadly	broadly	ADV
fbem-18916	93	10	categorized	categorize	VERB
fbem-18916	93	11	into	into	ADP
fbem-18916	93	12	two	two	NUM
fbem-18916	93	13	types	type	NOUN
fbem-18916	93	14	:	:	PUNCT
fbem-18916	93	15	narrow	narrow	ADJ
fbem-18916	93	16	and	and	CCONJ
fbem-18916	93	17	broad	broad	ADJ
fbem-18916	93	18	.	.	PUNCT
fbem-18916	94	1	the	the	DET
fbem-18916	94	2	narrow	narrow	ADJ
fbem-18916	94	3	portfolio	portfolio	NOUN
fbem-18916	94	4	theory	theory	NOUN
fbem-18916	94	5	typically	typically	ADV
fbem-18916	94	6	refers	refer	VERB
fbem-18916	94	7	to	to	ADP
fbem-18916	94	8	the	the	DET
fbem-18916	94	9	widely	widely	ADV
fbem-18916	94	10	recognized	recognize	VERB
fbem-18916	94	11	markowitz	markowitz	PROPN
fbem-18916	94	12	portfolio	portfolio	PROPN
fbem-18916	94	13	theory	theory	PROPN
fbem-18916	94	14	(	(	PUNCT
fbem-18916	94	15	1952	1952	NUM
fbem-18916	94	16	)	)	PUNCT
fbem-18916	94	17	,	,	PUNCT
fbem-18916	94	18	which	which	PRON
fbem-18916	94	19	is	be	AUX
fbem-18916	94	20	a	a	DET
fbem-18916	94	21	comprehensive	comprehensive	ADJ
fbem-18916	94	22	theory	theory	NOUN
fbem-18916	94	23	of	of	ADP
fbem-18916	94	24	portfolio	portfolio	NOUN
fbem-18916	94	25	construction	construction	NOUN
fbem-18916	94	26	.	.	PUNCT
fbem-18916	95	1	in	in	ADP
fbem-18916	95	2	a	a	DET
fbem-18916	95	3	broader	broad	ADJ
fbem-18916	95	4	sense	sense	NOUN
fbem-18916	95	5	,	,	PUNCT
fbem-18916	95	6	portfolio	portfolio	NOUN
fbem-18916	95	7	theory	theory	NOUN
fbem-18916	95	8	also	also	ADV
fbem-18916	95	9	includes	include	VERB
fbem-18916	95	10	capital	capital	NOUN
fbem-18916	95	11	market	market	NOUN
fbem-18916	95	12	theory	theory	NOUN
fbem-18916	95	13	,	,	PUNCT
fbem-18916	95	14	which	which	PRON
fbem-18916	95	15	is	be	AUX
fbem-18916	95	16	based	base	VERB
fbem-18916	95	17	on	on	ADP
fbem-18916	95	18	asset	asset	NOUN
fbem-18916	95	19	allocation	allocation	NOUN
fbem-18916	95	20	.	.	PUNCT
fbem-18916	96	1	2.2.2	2.2.2	X
fbem-18916	96	2	.	.	PUNCT
fbem-18916	96	3	risk	risk	NOUN
fbem-18916	96	4	measurement	measurement	NOUN
fbem-18916	96	5	theory	theory	NOUN
fbem-18916	96	6	the	the	DET
fbem-18916	96	7	development	development	NOUN
fbem-18916	96	8	of	of	ADP
fbem-18916	96	9	risk	risk	NOUN
fbem-18916	96	10	measurement	measurement	NOUN
fbem-18916	96	11	theory	theory	NOUN
fbem-18916	96	12	can	can	AUX
fbem-18916	96	13	be	be	AUX
fbem-18916	96	14	divided	divide	VERB
fbem-18916	96	15	into	into	ADP
fbem-18916	96	16	three	three	NUM
fbem-18916	96	17	periods	period	NOUN
fbem-18916	96	18	:	:	PUNCT
fbem-18916	96	19	the	the	DET
fbem-18916	96	20	first	first	ADJ
fbem-18916	96	21	period	period	NOUN
fbem-18916	96	22	is	be	AUX
fbem-18916	96	23	the	the	DET
fbem-18916	96	24	traditional	traditional	ADJ
fbem-18916	96	25	risk	risk	NOUN
fbem-18916	96	26	measurement	measurement	NOUN
fbem-18916	96	27	stage	stage	NOUN
fbem-18916	96	28	,	,	PUNCT
fbem-18916	96	29	which	which	PRON
fbem-18916	96	30	uses	use	VERB
fbem-18916	96	31	measures	measure	NOUN
fbem-18916	96	32	like	like	ADP
fbem-18916	96	33	variance	variance	NOUN
fbem-18916	96	34	and	and	CCONJ
fbem-18916	96	35	risk	risk	NOUN
fbem-18916	96	36	factors	factor	NOUN
fbem-18916	96	37	as	as	ADP
fbem-18916	96	38	standards	standard	NOUN
fbem-18916	96	39	;	;	PUNCT
fbem-18916	96	40	the	the	DET
fbem-18916	96	41	second	second	ADJ
fbem-18916	96	42	period	period	NOUN
fbem-18916	96	43	is	be	AUX
fbem-18916	96	44	the	the	DET
fbem-18916	96	45	modern	modern	ADJ
fbem-18916	96	46	risk	risk	NOUN
fbem-18916	96	47	measurement	measurement	NOUN
fbem-18916	96	48	stage	stage	NOUN
fbem-18916	96	49	,	,	PUNCT
fbem-18916	96	50	where	where	SCONJ
fbem-18916	96	51	value	value	NOUN
fbem-18916	96	52	at	at	ADP
fbem-18916	96	53	risk	risk	NOUN
fbem-18916	96	54	(	(	PUNCT
fbem-18916	96	55	var	var	NOUN
fbem-18916	96	56	)	)	PUNCT
fbem-18916	96	57	is	be	AUX
fbem-18916	96	58	the	the	DET
fbem-18916	96	59	internationally	internationally	ADV
fbem-18916	96	60	accepted	accept	VERB
fbem-18916	96	61	risk	risk	NOUN
fbem-18916	96	62	measurement	measurement	NOUN
fbem-18916	96	63	tool	tool	NOUN
fbem-18916	96	64	;	;	PUNCT
fbem-18916	96	65	and	and	CCONJ
fbem-18916	96	66	the	the	DET
fbem-18916	96	67	last	last	ADJ
fbem-18916	96	68	period	period	NOUN
fbem-18916	96	69	is	be	AUX
fbem-18916	96	70	the	the	DET
fbem-18916	96	71	consistent	consistent	ADJ
fbem-18916	96	72	risk	risk	NOUN
fbem-18916	96	73	measurement	measurement	NOUN
fbem-18916	96	74	stage	stage	NOUN
fbem-18916	96	75	,	,	PUNCT
fbem-18916	96	76	represented	represent	VERB
fbem-18916	96	77	by	by	ADP
fbem-18916	96	78	expected	expect	VERB
fbem-18916	96	79	shortfall	shortfall	NOUN
fbem-18916	96	80	(	(	PUNCT
fbem-18916	96	81	es	es	NOUN
fbem-18916	96	82	)	)	PUNCT
fbem-18916	97	1	[	[	X
fbem-18916	97	2	10	10	NUM
fbem-18916	97	3	]	]	PUNCT
fbem-18916	97	4	.	.	PUNCT
fbem-18916	98	1	var	var	PROPN
fbem-18916	98	2	is	be	AUX
fbem-18916	98	3	currently	currently	ADV
fbem-18916	98	4	the	the	DET
fbem-18916	98	5	international	international	ADJ
fbem-18916	98	6	standard	standard	NOUN
fbem-18916	98	7	for	for	ADP
fbem-18916	98	8	risk	risk	NOUN
fbem-18916	98	9	management	management	NOUN
fbem-18916	98	10	tools	tool	NOUN
fbem-18916	98	11	,	,	PUNCT
fbem-18916	98	12	initially	initially	ADV
fbem-18916	98	13	developed	develop	VERB
fbem-18916	98	14	by	by	ADP
fbem-18916	98	15	jp	jp	PROPN
fbem-18916	98	16	morgan	morgan	PROPN
fbem-18916	98	17	to	to	PART
fbem-18916	98	18	address	address	VERB
fbem-18916	98	19	the	the	DET
fbem-18916	98	20	risk	risk	NOUN
fbem-18916	98	21	needs	need	NOUN
fbem-18916	98	22	of	of	ADP
fbem-18916	98	23	its	its	PRON
fbem-18916	98	24	banking	banking	NOUN
fbem-18916	98	25	operations	operation	NOUN
fbem-18916	98	26	and	and	CCONJ
fbem-18916	98	27	quickly	quickly	ADV
fbem-18916	98	28	adopted	adopt	VERB
fbem-18916	98	29	as	as	ADP
fbem-18916	98	30	an	an	DET
fbem-18916	98	31	industry	industry	NOUN
fbem-18916	98	32	standard	standard	NOUN
fbem-18916	98	33	.	.	PUNCT
fbem-18916	99	1	var	var	PROPN
fbem-18916	99	2	quantifies	quantifie	NOUN
fbem-18916	99	3	and	and	CCONJ
fbem-18916	99	4	measures	measure	VERB
fbem-18916	99	5	financial	financial	ADJ
fbem-18916	99	6	risk	risk	NOUN
fbem-18916	99	7	using	use	VERB
fbem-18916	99	8	probability	probability	NOUN
fbem-18916	99	9	theory	theory	NOUN
fbem-18916	99	10	and	and	CCONJ
fbem-18916	99	11	mathematical	mathematical	ADJ
fbem-18916	99	12	statistics	statistic	NOUN
fbem-18916	99	13	.	.	PUNCT
fbem-18916	100	1	its	its	PRON
fbem-18916	100	2	major	major	ADJ
fbem-18916	100	3	advantage	advantage	NOUN
fbem-18916	100	4	is	be	AUX
fbem-18916	100	5	providing	provide	VERB
fbem-18916	100	6	a	a	DET
fbem-18916	100	7	one	one	NUM
fbem-18916	100	8	-	-	PUNCT
fbem-18916	100	9	dimensional	dimensional	ADJ
fbem-18916	100	10	approximation	approximation	NOUN
fbem-18916	100	11	of	of	ADP
fbem-18916	100	12	multidimensional	multidimensional	ADJ
fbem-18916	100	13	risks	risk	NOUN
fbem-18916	100	14	,	,	PUNCT
fbem-18916	100	15	which	which	PRON
fbem-18916	100	16	can	can	AUX
fbem-18916	100	17	be	be	AUX
fbem-18916	100	18	used	use	VERB
fbem-18916	100	19	to	to	PART
fbem-18916	100	20	measure	measure	VERB
fbem-18916	100	21	different	different	ADJ
fbem-18916	100	22	risks	risk	NOUN
fbem-18916	100	23	in	in	ADP
fbem-18916	100	24	different	different	ADJ
fbem-18916	100	25	markets	market	NOUN
fbem-18916	100	26	and	and	CCONJ
fbem-18916	100	27	represented	represent	VERB
fbem-18916	100	28	numerically	numerically	ADV
fbem-18916	100	29	,	,	PUNCT
fbem-18916	100	30	thus	thus	ADV
fbem-18916	100	31	having	have	VERB
fbem-18916	100	32	broad	broad	ADJ
fbem-18916	100	33	applicability	applicability	NOUN
fbem-18916	100	34	.	.	PUNCT
fbem-18916	101	1	2.3	2.3	NUM
fbem-18916	101	2	.	.	PUNCT
fbem-18916	102	1	literature	literature	PROPN
fbem-18916	102	2	review	review	PROPN
fbem-18916	102	3	2.3.1	2.3.1	NUM
fbem-18916	102	4	.	.	PUNCT
fbem-18916	103	1	foreign	foreign	ADJ
fbem-18916	103	2	studies	study	NOUN
fbem-18916	103	3	foreign	foreign	ADJ
fbem-18916	103	4	scholars	scholar	NOUN
fbem-18916	103	5	have	have	AUX
fbem-18916	103	6	shown	show	VERB
fbem-18916	103	7	a	a	DET
fbem-18916	103	8	significant	significant	ADJ
fbem-18916	103	9	interest	interest	NOUN
fbem-18916	103	10	in	in	ADP
fbem-18916	103	11	research	research	NOUN
fbem-18916	103	12	concerning	concern	VERB
fbem-18916	103	13	asset	asset	NOUN
fbem-18916	103	14	allocation	allocation	NOUN
fbem-18916	103	15	and	and	CCONJ
fbem-18916	103	16	systemic	systemic	ADJ
fbem-18916	103	17	risk	risk	NOUN
fbem-18916	103	18	.	.	PUNCT
fbem-18916	104	1	early	early	ADJ
fbem-18916	104	2	works	work	NOUN
fbem-18916	104	3	,	,	PUNCT
fbem-18916	104	4	such	such	ADJ
fbem-18916	104	5	as	as	ADP
fbem-18916	104	6	cremers	cremer	NOUN
fbem-18916	104	7	&	&	CCONJ
fbem-18916	104	8	kritzman	kritzman	PROPN
fbem-18916	104	9	(	(	PUNCT
fbem-18916	104	10	2003	2003	NUM
fbem-18916	104	11	)	)	PUNCT
fbem-18916	104	12	,	,	PUNCT
fbem-18916	104	13	primarily	primarily	ADV
fbem-18916	104	14	utilized	utilize	VERB
fbem-18916	104	15	matrix	matrix	NOUN
fbem-18916	104	16	values	value	NOUN
fbem-18916	104	17	to	to	PART
fbem-18916	104	18	predict	predict	VERB
fbem-18916	104	19	and	and	CCONJ
fbem-18916	104	20	utilize	utilize	VERB
fbem-18916	104	21	investment	investment	NOUN
fbem-18916	104	22	portfolios	portfolio	NOUN
fbem-18916	104	23	[	[	X
fbem-18916	104	24	11	11	NUM
fbem-18916	104	25	]	]	PUNCT
fbem-18916	104	26	.	.	PUNCT
fbem-18916	105	1	based	base	VERB
fbem-18916	105	2	on	on	ADP
fbem-18916	105	3	a	a	DET
fbem-18916	105	4	quasi	quasi	ADJ
fbem-18916	105	5	-	-	ADJ
fbem-18916	105	6	utility	utility	ADJ
fbem-18916	105	7	function	function	NOUN
fbem-18916	105	8	,	,	PUNCT
fbem-18916	105	9	they	they	PRON
fbem-18916	105	10	relied	rely	VERB
fbem-18916	105	11	on	on	ADP
fbem-18916	105	12	theory	theory	NOUN
fbem-18916	105	13	rather	rather	ADV
fbem-18916	105	14	than	than	ADP
fbem-18916	105	15	empirical	empirical	ADJ
fbem-18916	105	16	return	return	NOUN
fbem-18916	105	17	distributions	distribution	NOUN
fbem-18916	105	18	.	.	PUNCT
fbem-18916	106	1	capie	capie	NOUN
fbem-18916	106	2	&	&	CCONJ
fbem-18916	106	3	wood	wood	PROPN
fbem-18916	106	4	(	(	PUNCT
fbem-18916	106	5	2005	2005	NUM
fbem-18916	106	6	)	)	PUNCT
fbem-18916	106	7	conducted	conduct	VERB
fbem-18916	106	8	research	research	NOUN
fbem-18916	106	9	on	on	ADP
fbem-18916	106	10	hedging	hedge	VERB
fbem-18916	106	11	gold	gold	NOUN
fbem-18916	106	12	prices	price	NOUN
fbem-18916	106	13	,	,	PUNCT
fbem-18916	106	14	analyzing	analyze	VERB
fbem-18916	106	15	the	the	DET
fbem-18916	106	16	gold	gold	NOUN
fbem-18916	106	17	price	price	NOUN
fbem-18916	106	18	over	over	ADP
fbem-18916	106	19	the	the	DET
fbem-18916	106	20	past	past	ADJ
fbem-18916	106	21	30	30	NUM
fbem-18916	106	22	years	year	NOUN
fbem-18916	106	23	using	use	VERB
fbem-18916	106	24	gold	gold	ADJ
fbem-18916	106	25	prices	price	NOUN
fbem-18916	106	26	,	,	PUNCT
fbem-18916	106	27	pound	pound	NOUN
fbem-18916	106	28	sterling	sterling	NOUN
fbem-18916	106	29	to	to	ADP
fbem-18916	106	30	us	us	PROPN
fbem-18916	106	31	dollar	dollar	NOUN
fbem-18916	106	32	,	,	PUNCT
fbem-18916	106	33	and	and	CCONJ
fbem-18916	106	34	japanese	japanese	ADJ
fbem-18916	106	35	yen	yen	NOUN
fbem-18916	106	36	to	to	ADP
fbem-18916	106	37	us	us	PROPN
fbem-18916	106	38	dollar	dollar	NOUN
fbem-18916	106	39	as	as	ADP
fbem-18916	106	40	benchmarks	benchmark	NOUN
fbem-18916	106	41	.	.	PUNCT
fbem-18916	107	1	the	the	DET
fbem-18916	107	2	study	study	NOUN
fbem-18916	107	3	revealed	reveal	VERB
fbem-18916	107	4	a	a	DET
fbem-18916	107	5	negative	negative	ADJ
fbem-18916	107	6	,	,	PUNCT
fbem-18916	107	7	typical	typical	ADJ
fbem-18916	107	8	nonelastic	nonelastic	ADJ
fbem-18916	107	9	relationship	relationship	NOUN
fbem-18916	107	10	between	between	ADP
fbem-18916	107	11	gold	gold	NOUN
fbem-18916	107	12	prices	price	NOUN
fbem-18916	107	13	and	and	CCONJ
fbem-18916	107	14	exchange	exchange	NOUN
fbem-18916	107	15	rates	rate	NOUN
fbem-18916	107	16	,	,	PUNCT
fbem-18916	107	17	but	but	CCONJ
fbem-18916	107	18	the	the	DET
fbem-18916	107	19	strength	strength	NOUN
fbem-18916	107	20	of	of	ADP
fbem-18916	107	21	this	this	DET
fbem-18916	107	22	relationship	relationship	NOUN
fbem-18916	107	23	varied	varied	ADJ
fbem-18916	107	24	over	over	ADP
fbem-18916	107	25	time	time	NOUN
fbem-18916	107	26	.	.	PUNCT
fbem-18916	108	1	baur	baur	PROPN
fbem-18916	108	2	&	&	CCONJ
fbem-18916	108	3	lucey	lucey	PROPN
fbem-18916	108	4	(	(	PUNCT
fbem-18916	108	5	2009	2009	NUM
fbem-18916	108	6	)	)	PUNCT
fbem-18916	108	7	initiated	initiate	VERB
fbem-18916	108	8	research	research	NOUN
fbem-18916	108	9	on	on	ADP
fbem-18916	108	10	capital	capital	ADJ
fbem-18916	108	11	flight	flight	NOUN
fbem-18916	108	12	,	,	PUNCT
fbem-18916	108	13	studying	study	VERB
fbem-18916	108	14	securities	security	NOUN
fbem-18916	108	15	to	to	ADP
fbem-18916	108	16	bonds	bond	NOUN
fbem-18916	108	17	,	,	PUNCT
fbem-18916	108	18	then	then	ADV
fbem-18916	108	19	from	from	ADP
fbem-18916	108	20	stocks	stock	NOUN
fbem-18916	108	21	to	to	ADP
fbem-18916	108	22	bonds	bond	NOUN
fbem-18916	108	23	.	.	PUNCT
fbem-18916	109	1	they	they	PRON
fbem-18916	109	2	proposed	propose	VERB
fbem-18916	109	3	defining	define	VERB
fbem-18916	109	4	the	the	DET
fbem-18916	109	5	financial	financial	ADJ
fbem-18916	109	6	system	system	NOUN
fbem-18916	109	7	and	and	CCONJ
fbem-18916	109	8	examining	examine	VERB
fbem-18916	109	9	its	its	PRON
fbem-18916	109	10	impact	impact	NOUN
fbem-18916	109	11	.	.	PUNCT
fbem-18916	110	1	through	through	ADP
fbem-18916	110	2	empirical	empirical	ADJ
fbem-18916	110	3	research	research	NOUN
fbem-18916	110	4	on	on	ADP
fbem-18916	110	5	eight	eight	NUM
fbem-18916	110	6	developed	develop	VERB
fbem-18916	110	7	countries	country	NOUN
fbem-18916	110	8	including	include	VERB
fbem-18916	110	9	the	the	DET
fbem-18916	110	10	united	united	PROPN
fbem-18916	110	11	states	states	PROPN
fbem-18916	110	12	,	,	PUNCT
fbem-18916	110	13	the	the	DET
fbem-18916	110	14	united	united	PROPN
fbem-18916	110	15	kingdom	kingdom	PROPN
fbem-18916	110	16	,	,	PUNCT
fbem-18916	110	17	germany	germany	PROPN
fbem-18916	110	18	,	,	PUNCT
fbem-18916	110	19	and	and	CCONJ
fbem-18916	110	20	japan	japan	PROPN
fbem-18916	110	21	,	,	PUNCT
fbem-18916	110	22	they	they	PRON
fbem-18916	110	23	found	find	VERB
fbem-18916	110	24	that	that	SCONJ
fbem-18916	110	25	capital	capital	NOUN
fbem-18916	110	26	flight	flight	NOUN
fbem-18916	110	27	does	do	AUX
fbem-18916	110	28	exist	exist	VERB
fbem-18916	110	29	,	,	PUNCT
fbem-18916	110	30	and	and	CCONJ
fbem-18916	110	31	it	it	PRON
fbem-18916	110	32	is	be	AUX
fbem-18916	110	33	not	not	PART
fbem-18916	110	34	unique	unique	ADJ
fbem-18916	110	35	to	to	ADP
fbem-18916	110	36	a	a	DET
fbem-18916	110	37	single	single	ADJ
fbem-18916	110	38	country	country	NOUN
fbem-18916	110	39	but	but	CCONJ
fbem-18916	110	40	occurs	occur	VERB
fbem-18916	110	41	simultaneously	simultaneously	ADV
fbem-18916	110	42	in	in	ADP
fbem-18916	110	43	multiple	multiple	ADJ
fbem-18916	110	44	countries	country	NOUN
fbem-18916	110	45	.	.	PUNCT
fbem-18916	111	1	baur	baur	PROPN
fbem-18916	111	2	&	&	CCONJ
fbem-18916	111	3	lucey	lucey	PROPN
fbem-18916	111	4	(	(	PUNCT
fbem-18916	111	5	2010	2010	NUM
fbem-18916	111	6	)	)	PUNCT
fbem-18916	111	7	subsequently	subsequently	ADV
fbem-18916	111	8	studied	study	VERB
fbem-18916	111	9	the	the	DET
fbem-18916	111	10	hedging	hedging	NOUN
fbem-18916	111	11	effect	effect	NOUN
fbem-18916	111	12	of	of	ADP
fbem-18916	111	13	gold	gold	NOUN
fbem-18916	111	14	,	,	PUNCT
fbem-18916	111	15	observing	observe	VERB
fbem-18916	111	16	whether	whether	SCONJ
fbem-18916	111	17	gold	gold	NOUN
fbem-18916	111	18	has	have	VERB
fbem-18916	111	19	a	a	DET
fbem-18916	111	20	hedging	hedge	VERB
fbem-18916	111	21	effect	effect	NOUN
fbem-18916	111	22	on	on	ADP
fbem-18916	111	23	stocks	stock	NOUN
fbem-18916	111	24	and	and	CCONJ
fbem-18916	111	25	bonds	bond	NOUN
fbem-18916	111	26	.	.	PUNCT
fbem-18916	112	1	this	this	PRON
fbem-18916	112	2	is	be	AUX
fbem-18916	112	3	of	of	ADP
fbem-18916	112	4	significant	significant	ADJ
fbem-18916	112	5	importance	importance	NOUN
fbem-18916	112	6	regarding	regard	VERB
fbem-18916	112	7	whether	whether	SCONJ
fbem-18916	112	8	gold	gold	NOUN
fbem-18916	112	9	can	can	AUX
fbem-18916	112	10	serve	serve	VERB
fbem-18916	112	11	as	as	ADP
fbem-18916	112	12	a	a	DET
fbem-18916	112	13	hedge	hedge	NOUN
fbem-18916	112	14	asset	asset	NOUN
fbem-18916	112	15	for	for	ADP
fbem-18916	112	16	bitcoin	bitcoin	NOUN
fbem-18916	112	17	.	.	PUNCT
fbem-18916	113	1	ratner	ratner	PROPN
fbem-18916	113	2	&	&	CCONJ
fbem-18916	113	3	chiu	chiu	PROPN
fbem-18916	113	4	explored	explore	VERB
fbem-18916	113	5	the	the	DET
fbem-18916	113	6	potential	potential	ADJ
fbem-18916	113	7	risk	risk	NOUN
fbem-18916	113	8	reduction	reduction	NOUN
fbem-18916	113	9	benefits	benefit	NOUN
fbem-18916	113	10	of	of	ADP
fbem-18916	113	11	credit	credit	NOUN
fbem-18916	113	12	default	default	NOUN
fbem-18916	113	13	swaps	swap	NOUN
fbem-18916	113	14	(	(	PUNCT
fbem-18916	113	15	cds	cds	PROPN
fbem-18916	113	16	)	)	PUNCT
fbem-18916	113	17	.	.	PUNCT
fbem-18916	114	1	this	this	DET
fbem-18916	114	2	study	study	NOUN
fbem-18916	114	3	utilized	utilize	VERB
fbem-18916	114	4	garch	garch	NOUN
fbem-18916	114	5	dynamic	dynamic	ADJ
fbem-18916	114	6	conditional	conditional	ADJ
fbem-18916	114	7	correlation	correlation	NOUN
fbem-18916	114	8	coefficients	coefficient	VERB
fbem-18916	114	9	from	from	ADP
fbem-18916	114	10	the	the	DET
fbem-18916	114	11	us	us	PROPN
fbem-18916	114	12	stock	stock	NOUN
fbem-18916	114	13	market	market	NOUN
fbem-18916	114	14	sector	sector	NOUN
fbem-18916	114	15	from	from	ADP
fbem-18916	114	16	2004	2004	NUM
fbem-18916	114	17	to	to	ADP
fbem-18916	114	18	2011	2011	NUM
fbem-18916	114	19	to	to	PART
fbem-18916	114	20	verify	verify	VERB
fbem-18916	114	21	the	the	DET
fbem-18916	114	22	effectiveness	effectiveness	NOUN
fbem-18916	114	23	of	of	ADP
fbem-18916	114	24	cds	cd	NOUN
fbem-18916	114	25	in	in	ADP
fbem-18916	114	26	various	various	ADJ
fbem-18916	114	27	stock	stock	NOUN
fbem-18916	114	28	markets	market	NOUN
fbem-18916	114	29	.	.	PUNCT
fbem-18916	115	1	the	the	DET
fbem-18916	115	2	research	research	NOUN
fbem-18916	115	3	found	find	VERB
fbem-18916	115	4	that	that	SCONJ
fbem-18916	115	5	cds	cd	NOUN
fbem-18916	115	6	is	be	AUX
fbem-18916	115	7	a	a	DET
fbem-18916	115	8	relatively	relatively	ADV
fbem-18916	115	9	safe	safe	ADJ
fbem-18916	115	10	asset	asset	NOUN
fbem-18916	115	11	in	in	ADP
fbem-18916	115	12	both	both	PRON
fbem-18916	115	13	stock	stock	NOUN
fbem-18916	115	14	market	market	NOUN
fbem-18916	115	15	volatility	volatility	NOUN
fbem-18916	115	16	and	and	CCONJ
fbem-18916	115	17	financial	financial	ADJ
fbem-18916	115	18	crises	crisis	NOUN
fbem-18916	115	19	.	.	PUNCT
fbem-18916	116	1	girardi	girardi	PROPN
fbem-18916	116	2	&	&	CCONJ
fbem-18916	116	3	ergün	ergün	PROPN
fbem-18916	116	4	(	(	PUNCT
fbem-18916	116	5	2013	2013	NUM
fbem-18916	116	6	)	)	PUNCT
fbem-18916	116	7	investigated	investigate	VERB
fbem-18916	116	8	not	not	PART
fbem-18916	116	9	only	only	ADV
fbem-18916	116	10	the	the	DET
fbem-18916	116	11	relationship	relationship	NOUN
fbem-18916	116	12	between	between	ADP
fbem-18916	116	13	institutional	institutional	ADJ
fbem-18916	116	14	contributions	contribution	NOUN
fbem-18916	116	15	to	to	ADP
fbem-18916	116	16	systemic	systemic	ADJ
fbem-18916	116	17	risk	risk	NOUN
fbem-18916	116	18	but	but	CCONJ
fbem-18916	116	19	also	also	ADV
fbem-18916	116	20	their	their	PRON
fbem-18916	116	21	characteristics	characteristic	NOUN
fbem-18916	116	22	.	.	PUNCT
fbem-18916	117	1	mainik	mainik	PROPN
fbem-18916	117	2	&	&	CCONJ
fbem-18916	117	3	schaanning	schaanning	PROPN
fbem-18916	117	4	(	(	PUNCT
fbem-18916	117	5	2014	2014	NUM
fbem-18916	117	6	)	)	PUNCT
fbem-18916	117	7	conducted	conduct	VERB
fbem-18916	117	8	a	a	DET
fbem-18916	117	9	thorough	thorough	ADJ
fbem-18916	117	10	analysis	analysis	NOUN
fbem-18916	117	11	of	of	ADP
fbem-18916	117	12	covar	covar	NOUN
fbem-18916	117	13	and	and	CCONJ
fbem-18916	117	14	other	other	ADJ
fbem-18916	117	15	systemic	systemic	ADJ
fbem-18916	117	16	risk	risk	NOUN
fbem-18916	117	17	measures	measure	NOUN
fbem-18916	117	18	'	'	PART
fbem-18916	117	19	dependence	dependence	NOUN
fbem-18916	117	20	consistency	consistency	NOUN
fbem-18916	117	21	.	.	PUNCT
fbem-18916	118	1	in	in	ADP
fbem-18916	118	2	recent	recent	ADJ
fbem-18916	118	3	years	year	NOUN
fbem-18916	118	4	,	,	PUNCT
fbem-18916	118	5	foreign	foreign	ADJ
fbem-18916	118	6	scholars	scholar	NOUN
fbem-18916	118	7	have	have	AUX
fbem-18916	118	8	conducted	conduct	VERB
fbem-18916	118	9	more	more	ADJ
fbem-18916	118	10	in	in	ADP
fbem-18916	118	11	-	-	PUNCT
fbem-18916	118	12	depth	depth	NOUN
fbem-18916	118	13	analyses	analysis	NOUN
fbem-18916	118	14	of	of	ADP
fbem-18916	118	15	tail	tail	NOUN
fbem-18916	118	16	risks	risk	NOUN
fbem-18916	118	17	and	and	CCONJ
fbem-18916	118	18	portfolio	portfolio	NOUN
fbem-18916	118	19	analysis	analysis	NOUN
fbem-18916	118	20	issues	issue	NOUN
fbem-18916	118	21	related	relate	VERB
fbem-18916	118	22	to	to	ADP
fbem-18916	118	23	digital	digital	ADJ
fbem-18916	118	24	assets	asset	NOUN
fbem-18916	118	25	,	,	PUNCT
fbem-18916	118	26	especially	especially	ADV
fbem-18916	118	27	the	the	DET
fbem-18916	118	28	increasing	increase	VERB
fbem-18916	118	29	research	research	NOUN
fbem-18916	118	30	on	on	ADP
fbem-18916	118	31	bitcoin	bitcoin	PROPN
fbem-18916	118	32	.	.	PUNCT
fbem-18916	119	1	bouoiyour	bouoiyour	PROPN
fbem-18916	119	2	,	,	PUNCT
fbem-18916	119	3	etc	etc	X
fbem-18916	120	1	[	[	X
fbem-18916	120	2	12	12	NUM
fbem-18916	120	3	]	]	PUNCT
fbem-18916	120	4	.	.	PUNCT
fbem-18916	121	1	(	(	PUNCT
fbem-18916	121	2	2014	2014	NUM
fbem-18916	121	3	)	)	PUNCT
fbem-18916	121	4	studied	study	VERB
fbem-18916	121	5	the	the	DET
fbem-18916	121	6	pricing	pricing	NOUN
fbem-18916	121	7	of	of	ADP
fbem-18916	121	8	bitcoin	bitcoin	NOUN
fbem-18916	121	9	,	,	PUNCT
fbem-18916	121	10	exploring	explore	VERB
fbem-18916	121	11	granger	granger	PROPN
fbem-18916	121	12	causality	causality	NOUN
fbem-18916	121	13	,	,	PUNCT
fbem-18916	121	14	namely	namely	ADV
fbem-18916	121	15	the	the	DET
fbem-18916	121	16	value	value	NOUN
fbem-18916	121	17	and	and	CCONJ
fbem-18916	121	18	trading	trading	NOUN
fbem-18916	121	19	of	of	ADP
fbem-18916	121	20	bitcoin	bitcoin	NOUN
fbem-18916	121	21	,	,	PUNCT
fbem-18916	121	22	affirming	affirm	VERB
fbem-18916	121	23	bitcoin	bitcoin	NOUN
fbem-18916	121	24	's	's	PART
fbem-18916	121	25	extreme	extreme	ADJ
fbem-18916	121	26	speculative	speculative	ADJ
fbem-18916	121	27	nature	nature	NOUN
fbem-18916	121	28	while	while	SCONJ
fbem-18916	121	29	also	also	ADV
fbem-18916	121	30	acknowledging	acknowledge	VERB
fbem-18916	121	31	its	its	PRON
fbem-18916	121	32	economic	economic	ADJ
fbem-18916	121	33	role	role	NOUN
fbem-18916	121	34	.	.	PUNCT
fbem-18916	122	1	brière	brière	NOUN
fbem-18916	122	2	,	,	PUNCT
fbem-18916	122	3	etc	etc	X
fbem-18916	122	4	.	.	X
fbem-18916	122	5	(	(	PUNCT
fbem-18916	122	6	2015	2015	NUM
fbem-18916	122	7	)	)	PUNCT
fbem-18916	122	8	studied	study	VERB
fbem-18916	122	9	diversified	diversified	ADJ
fbem-18916	122	10	bitcoin	bitcoin	NOUN
fbem-18916	122	11	investment	investment	NOUN
fbem-18916	122	12	portfolios	portfolio	NOUN
fbem-18916	122	13	,	,	PUNCT
fbem-18916	122	14	including	include	VERB
fbem-18916	122	15	traditional	traditional	ADJ
fbem-18916	122	16	assets	asset	NOUN
fbem-18916	122	17	(	(	PUNCT
fbem-18916	122	18	global	global	ADJ
fbem-18916	122	19	stocks	stock	NOUN
fbem-18916	122	20	,	,	PUNCT
fbem-18916	122	21	bonds	bond	NOUN
fbem-18916	122	22	,	,	PUNCT
fbem-18916	122	23	hard	hard	ADJ
fbem-18916	122	24	currencies	currency	NOUN
fbem-18916	122	25	)	)	PUNCT
fbem-18916	122	26	and	and	CCONJ
fbem-18916	122	27	alternative	alternative	ADJ
fbem-18916	122	28	investments	investment	NOUN
fbem-18916	122	29	(	(	PUNCT
fbem-18916	122	30	commodities	commodity	NOUN
fbem-18916	122	31	,	,	PUNCT
fbem-18916	122	32	hedge	hedge	NOUN
fbem-18916	122	33	funds	fund	NOUN
fbem-18916	122	34	,	,	PUNCT
fbem-18916	122	35	real	real	ADJ
fbem-18916	122	36	estate	estate	NOUN
fbem-18916	122	37	)	)	PUNCT
fbem-18916	122	38	.	.	PUNCT
fbem-18916	123	1	dyhrberg	dyhrberg	PROPN
fbem-18916	123	2	(	(	PUNCT
fbem-18916	123	3	2015	2015	NUM
fbem-18916	123	4	)	)	PUNCT
fbem-18916	123	5	conducted	conduct	VERB
fbem-18916	123	6	risk	risk	NOUN
fbem-18916	123	7	analysis	analysis	NOUN
fbem-18916	123	8	on	on	ADP
fbem-18916	123	9	bitcoin	bitcoin	NOUN
fbem-18916	123	10	by	by	ADP
fbem-18916	123	11	selecting	select	VERB
fbem-18916	123	12	macro	macro	ADJ
fbem-18916	123	13	variables	variable	NOUN
fbem-18916	123	14	such	such	ADJ
fbem-18916	123	15	as	as	ADP
fbem-18916	123	16	gold	gold	NOUN
fbem-18916	123	17	,	,	PUNCT
fbem-18916	123	18	usd	usd	NOUN
fbem-18916	123	19	to	to	PART
fbem-18916	123	20	gbp	gbp	VERB
fbem-18916	123	21	,	,	PUNCT
fbem-18916	123	22	usd	usd	NOUN
fbem-18916	123	23	to	to	ADP
fbem-18916	123	24	eur	eur	NOUN
fbem-18916	123	25	,	,	PUNCT
fbem-18916	123	26	and	and	CCONJ
fbem-18916	123	27	the	the	DET
fbem-18916	123	28	uk	uk	PROPN
fbem-18916	123	29	ftse	ftse	PROPN
fbem-18916	123	30	index	index	PROPN
fbem-18916	123	31	.	.	PUNCT
fbem-18916	124	1	this	this	PRON
fbem-18916	124	2	indicates	indicate	VERB
fbem-18916	124	3	that	that	SCONJ
fbem-18916	124	4	bitcoin	bitcoin	NOUN
fbem-18916	124	5	has	have	VERB
fbem-18916	124	6	similarities	similarity	NOUN
fbem-18916	124	7	with	with	ADP
fbem-18916	124	8	gold	gold	NOUN
fbem-18916	124	9	and	and	CCONJ
fbem-18916	124	10	the	the	DET
fbem-18916	124	11	usd	usd	NOUN
fbem-18916	124	12	,	,	PUNCT
fbem-18916	124	13	making	make	VERB
fbem-18916	124	14	it	it	PRON
fbem-18916	124	15	an	an	DET
fbem-18916	124	16	effective	effective	ADJ
fbem-18916	124	17	investment	investment	NOUN
fbem-18916	124	18	tool	tool	NOUN
fbem-18916	124	19	.	.	PUNCT
fbem-18916	125	1	dyhrberg	dyhrberg	PROPN
fbem-18916	125	2	(	(	PUNCT
fbem-18916	125	3	2016	2016	NUM
fbem-18916	125	4	)	)	PUNCT
fbem-18916	125	5	subsequently	subsequently	ADV
fbem-18916	125	6	analyzed	analyze	VERB
fbem-18916	125	7	the	the	DET
fbem-18916	125	8	financial	financial	ADJ
fbem-18916	125	9	asset	asset	NOUN
fbem-18916	125	10	capabilities	capability	NOUN
fbem-18916	125	11	of	of	ADP
fbem-18916	125	12	bitcoin	bitcoin	NOUN
fbem-18916	125	13	using	use	VERB
fbem-18916	125	14	the	the	DET
fbem-18916	125	15	garch	garch	NOUN
fbem-18916	125	16	model	model	NOUN
fbem-18916	125	17	.	.	PUNCT
fbem-18916	126	1	the	the	DET
fbem-18916	126	2	preliminary	preliminary	ADJ
fbem-18916	126	3	model	model	NOUN
fbem-18916	126	4	showed	show	VERB
fbem-18916	126	5	some	some	DET
fbem-18916	126	6	similarities	similarity	NOUN
fbem-18916	126	7	with	with	ADP
fbem-18916	126	8	gold	gold	NOUN
fbem-18916	126	9	and	and	CCONJ
fbem-18916	126	10	the	the	DET
fbem-18916	126	11	usd	usd	NOUN
fbem-18916	126	12	,	,	PUNCT
fbem-18916	126	13	demonstrating	demonstrate	VERB
fbem-18916	126	14	advantages	advantage	NOUN
fbem-18916	126	15	in	in	ADP
fbem-18916	126	16	hedging	hedging	NOUN
fbem-18916	126	17	and	and	CCONJ
fbem-18916	126	18	trading	trading	NOUN
fbem-18916	126	19	.	.	PUNCT
fbem-18916	127	1	asymmetric	asymmetric	ADJ
fbem-18916	127	2	garch	garch	NOUN
fbem-18916	127	3	also	also	ADV
fbem-18916	127	4	showed	show	VERB
fbem-18916	127	5	that	that	SCONJ
fbem-18916	127	6	bitcoin	bitcoin	NOUN
fbem-18916	127	7	can	can	AUX
fbem-18916	127	8	be	be	AUX
fbem-18916	127	9	used	use	VERB
fbem-18916	127	10	for	for	ADP
fbem-18916	127	11	risk	risk	NOUN
fbem-18916	127	12	management	management	NOUN
fbem-18916	127	13	and	and	CCONJ
fbem-18916	127	14	is	be	AUX
fbem-18916	127	15	suitable	suitable	ADJ
fbem-18916	127	16	for	for	ADP
fbem-18916	127	17	risk	risk	NOUN
fbem-18916	127	18	-	-	PUNCT
fbem-18916	127	19	averse	averse	ADJ
fbem-18916	127	20	investors	investor	NOUN
fbem-18916	127	21	expecting	expect	VERB
fbem-18916	127	22	negative	negative	ADJ
fbem-18916	127	23	market	market	NOUN
fbem-18916	127	24	impacts	impact	NOUN
fbem-18916	127	25	.	.	PUNCT
fbem-18916	128	1	furthermore	furthermore	ADV
fbem-18916	128	2	,	,	PUNCT
fbem-18916	128	3	it	it	PRON
fbem-18916	128	4	is	be	AUX
fbem-18916	128	5	believed	believe	VERB
fbem-18916	128	6	that	that	SCONJ
fbem-18916	128	7	due	due	ADP
fbem-18916	128	8	to	to	ADP
fbem-18916	128	9	bitcoin	bitcoin	PROPN
fbem-18916	128	10	's	's	PART
fbem-18916	128	11	categorization	categorization	NOUN
fbem-18916	128	12	as	as	ADP
fbem-18916	128	13	a	a	DET
fbem-18916	128	14	commodity	commodity	NOUN
fbem-18916	128	15	that	that	PRON
fbem-18916	128	16	falls	fall	VERB
fbem-18916	128	17	between	between	ADP
fbem-18916	128	18	gold	gold	NOUN
fbem-18916	128	19	and	and	CCONJ
fbem-18916	128	20	the	the	DET
fbem-18916	128	21	us	us	PROPN
fbem-18916	128	22	dollar	dollar	NOUN
fbem-18916	128	23	,	,	PUNCT
fbem-18916	128	24	it	it	PRON
fbem-18916	128	25	holds	hold	VERB
fbem-18916	128	26	a	a	DET
fbem-18916	128	27	certain	certain	ADJ
fbem-18916	128	28	position	position	NOUN
fbem-18916	128	29	in	in	ADP
fbem-18916	128	30	both	both	PRON
fbem-18916	128	31	financial	financial	ADJ
fbem-18916	128	32	markets	market	NOUN
fbem-18916	128	33	and	and	CCONJ
fbem-18916	128	34	portfolio	portfolio	NOUN
fbem-18916	128	35	management	management	NOUN
fbem-18916	128	36	fields	field	NOUN
fbem-18916	128	37	[	[	X
fbem-18916	128	38	13	13	NUM
fbem-18916	128	39	]	]	PUNCT
fbem-18916	128	40	.	.	PUNCT
fbem-18916	129	1	ciaian	ciaian	PROPN
fbem-18916	129	2	,	,	PUNCT
fbem-18916	129	3	etc	etc	X
fbem-18916	129	4	.	.	X
fbem-18916	129	5	(	(	PUNCT
fbem-18916	129	6	201x	201x	NUM
fbem-18916	129	7	)	)	PUNCT
fbem-18916	129	8	studied	study	VERB
fbem-18916	129	9	bitcoin	bitcoin	ADJ
fbem-18916	129	10	prices	price	NOUN
fbem-18916	129	11	,	,	PUNCT
fbem-18916	129	12	considering	consider	VERB
fbem-18916	129	13	not	not	PART
fbem-18916	129	14	only	only	ADV
fbem-18916	129	15	traditional	traditional	ADJ
fbem-18916	129	16	currency	currency	NOUN
fbem-18916	129	17	price	price	NOUN
fbem-18916	129	18	determinants	determinant	NOUN
fbem-18916	129	19	such	such	ADJ
fbem-18916	129	20	as	as	ADP
fbem-18916	129	21	market	market	NOUN
fbem-18916	129	22	forces	force	NOUN
fbem-18916	129	23	of	of	ADP
fbem-18916	129	24	supply	supply	NOUN
fbem-18916	129	25	and	and	CCONJ
fbem-18916	129	26	demand	demand	NOUN
fbem-18916	129	27	but	but	CCONJ
fbem-18916	129	28	also	also	ADV
fbem-18916	129	29	bitcoin	bitcoin	PROPN
fbem-18916	129	30	's	's	PART
fbem-18916	129	31	attractiveness	attractiveness	NOUN
fbem-18916	129	32	to	to	ADP
fbem-18916	129	33	investors	investor	NOUN
fbem-18916	129	34	and	and	CCONJ
fbem-18916	129	35	users	user	NOUN
fbem-18916	129	36	.	.	PUNCT
fbem-18916	130	1	they	they	PRON
fbem-18916	130	2	used	use	VERB
fbem-18916	130	3	daily	daily	ADJ
fbem-18916	130	4	data	datum	NOUN
fbem-18916	130	5	from	from	ADP
fbem-18916	130	6	a	a	DET
fbem-18916	130	7	five	five	NUM
fbem-18916	130	8	-	-	PUNCT
fbem-18916	130	9	year	year	NOUN
fbem-18916	130	10	period	period	NOUN
fbem-18916	130	11	(	(	PUNCT
fbem-18916	130	12	2009	2009	NUM
fbem-18916	130	13	-	-	SYM
fbem-18916	130	14	2015	2015	NUM
fbem-18916	130	15	)	)	PUNCT
fbem-18916	130	16	and	and	CCONJ
fbem-18916	130	17	employed	employ	VERB
fbem-18916	130	18	timeseries	timeserie	NOUN
fbem-18916	130	19	analysis	analysis	NOUN
fbem-18916	130	20	methods	method	NOUN
fbem-18916	130	21	.	.	PUNCT
fbem-18916	131	1	the	the	DET
fbem-18916	131	2	results	result	NOUN
fbem-18916	131	3	showed	show	VERB
fbem-18916	131	4	that	that	SCONJ
fbem-18916	131	5	market	market	NOUN
fbem-18916	131	6	forces	force	NOUN
fbem-18916	131	7	and	and	CCONJ
fbem-18916	131	8	bitcoin	bitcoin	NOUN
fbem-18916	131	9	's	's	PART
fbem-18916	131	10	attractiveness	attractiveness	NOUN
fbem-18916	131	11	to	to	ADP
fbem-18916	131	12	investors	investor	NOUN
fbem-18916	131	13	and	and	CCONJ
fbem-18916	131	14	users	user	NOUN
fbem-18916	131	15	significantly	significantly	ADV
fbem-18916	131	16	influence	influence	VERB
fbem-18916	131	17	bitcoin	bitcoin	NOUN
fbem-18916	131	18	prices	price	NOUN
fbem-18916	131	19	,	,	PUNCT
fbem-18916	131	20	but	but	CCONJ
fbem-18916	131	21	these	these	DET
fbem-18916	131	22	influences	influence	NOUN
fbem-18916	131	23	change	change	VERB
fbem-18916	131	24	over	over	ADP
fbem-18916	131	25	time	time	NOUN
fbem-18916	131	26	.	.	PUNCT
fbem-18916	132	1	the	the	DET
fbem-18916	132	2	conclusion	conclusion	NOUN
fbem-18916	132	3	drawn	draw	VERB
fbem-18916	132	4	was	be	AUX
fbem-18916	132	5	that	that	SCONJ
fbem-18916	132	6	the	the	DET
fbem-18916	132	7	development	development	NOUN
fbem-18916	132	8	of	of	ADP
fbem-18916	132	9	macro	macro	ADJ
fbem-18916	132	10	finance	finance	NOUN
fbem-18916	132	11	plays	play	VERB
fbem-18916	132	12	a	a	DET
fbem-18916	132	13	significant	significant	ADJ
fbem-18916	132	14	role	role	NOUN
fbem-18916	132	15	in	in	ADP
fbem-18916	132	16	promoting	promote	VERB
fbem-18916	132	17	bitcoin	bitcoin	NOUN
fbem-18916	132	18	prices	price	NOUN
fbem-18916	132	19	.	.	PUNCT
fbem-18916	133	1	peter	peter	PROPN
fbem-18916	133	2	,	,	PUNCT
fbem-18916	133	3	etc	etc	X
fbem-18916	133	4	.	.	X
fbem-18916	133	5	(	(	PUNCT
fbem-18916	133	6	2017	2017	NUM
fbem-18916	133	7	)	)	PUNCT
fbem-18916	133	8	used	use	VERB
fbem-18916	133	9	dynamic	dynamic	ADJ
fbem-18916	133	10	conditional	conditional	ADJ
fbem-18916	133	11	correlation	correlation	NOUN
fbem-18916	133	12	models	model	NOUN
fbem-18916	133	13	to	to	PART
fbem-18916	133	14	test	test	VERB
fbem-18916	133	15	whether	whether	SCONJ
fbem-18916	133	16	bitcoin	bitcoin	NOUN
fbem-18916	133	17	has	have	VERB
fbem-18916	133	18	the	the	DET
fbem-18916	133	19	potential	potential	NOUN
fbem-18916	133	20	to	to	PART
fbem-18916	133	21	act	act	VERB
fbem-18916	133	22	as	as	ADP
fbem-18916	133	23	a	a	DET
fbem-18916	133	24	hedge	hedge	NOUN
fbem-18916	133	25	or	or	CCONJ
fbem-18916	133	26	safe	safe	ADJ
fbem-18916	133	27	haven	haven	NOUN
fbem-18916	133	28	for	for	ADP
fbem-18916	133	29	world	world	NOUN
fbem-18916	133	30	major	major	ADJ
fbem-18916	133	31	stock	stock	NOUN
fbem-18916	133	32	indices	index	NOUN
fbem-18916	133	33	,	,	PUNCT
fbem-18916	133	34	bonds	bond	NOUN
fbem-18916	133	35	,	,	PUNCT
fbem-18916	133	36	oil	oil	NOUN
fbem-18916	133	37	,	,	PUNCT
fbem-18916	133	38	gold	gold	NOUN
fbem-18916	133	39	,	,	PUNCT
fbem-18916	133	40	and	and	CCONJ
fbem-18916	133	41	common	common	ADJ
fbem-18916	133	42	stocks	stock	NOUN
fbem-18916	133	43	.	.	PUNCT
fbem-18916	134	1	stavroyiannis	stavroyiannis	NOUN
fbem-18916	134	2	&	&	CCONJ
fbem-18916	134	3	babalos	babalos	PROPN
fbem-18916	134	4	(	(	PUNCT
fbem-18916	134	5	2017	2017	NUM
fbem-18916	134	6	)	)	PUNCT
fbem-18916	134	7	studied	study	VERB
fbem-18916	134	8	the	the	DET
fbem-18916	134	9	dynamic	dynamic	ADJ
fbem-18916	134	10	characteristics	characteristic	NOUN
fbem-18916	134	11	of	of	ADP
fbem-18916	134	12	bitcoin	bitcoin	NOUN
fbem-18916	134	13	and	and	CCONJ
fbem-18916	134	14	the	the	DET
fbem-18916	134	15	s&p	s&p	PROPN
fbem-18916	134	16	500	500	NUM
fbem-18916	134	17	index	index	NOUN
fbem-18916	134	18	,	,	PUNCT
fbem-18916	134	19	employing	employ	VERB
fbem-18916	134	20	various	various	ADJ
fbem-18916	134	21	econometric	econometric	ADJ
fbem-18916	134	22	methods	method	NOUN
fbem-18916	134	23	including	include	VERB
fbem-18916	134	24	univariate	univariate	ADJ
fbem-18916	134	25	and	and	CCONJ
fbem-18916	134	26	multivariate	multivariate	NOUN
fbem-18916	134	27	garch	garch	NOUN
fbem-18916	134	28	models	model	NOUN
fbem-18916	134	29	and	and	CCONJ
fbem-18916	134	30	vector	vector	NOUN
fbem-18916	134	31	autoregressive	autoregressive	ADJ
fbem-18916	134	32	specifications	specification	NOUN
fbem-18916	134	33	.	.	PUNCT
fbem-18916	135	1	additionally	additionally	ADV
fbem-18916	135	2	,	,	PUNCT
fbem-18916	135	3	they	they	PRON
fbem-18916	135	4	explored	explore	VERB
fbem-18916	135	5	whether	whether	SCONJ
fbem-18916	135	6	bitcoin	bitcoin	NOUN
fbem-18916	135	7	could	could	AUX
fbem-18916	135	8	be	be	AUX
fbem-18916	135	9	classified	classify	VERB
fbem-18916	135	10	as	as	ADP
fbem-18916	135	11	a	a	DET
fbem-18916	135	12	possible	possible	ADJ
fbem-18916	135	13	hedging	hedging	NOUN
fbem-18916	135	14	,	,	PUNCT
fbem-18916	135	15	diversifying	diversifying	NOUN
fbem-18916	135	16	,	,	PUNCT
fbem-18916	135	17	or	or	CCONJ
fbem-18916	135	18	safe	safe	ADJ
fbem-18916	135	19	-	-	PUNCT
fbem-18916	135	20	haven	haven	NOUN
fbem-18916	135	21	asset	asset	NOUN
fbem-18916	135	22	in	in	ADP
fbem-18916	135	23	the	the	DET
fbem-18916	135	24	us	us	PROPN
fbem-18916	135	25	market	market	NOUN
fbem-18916	135	26	,	,	PUNCT
fbem-18916	135	27	and	and	CCONJ
fbem-18916	135	28	whether	whether	SCONJ
fbem-18916	135	29	it	it	PRON
fbem-18916	135	30	possesses	possess	VERB
fbem-18916	135	31	any	any	DET
fbem-18916	135	32	attributes	attribute	NOUN
fbem-18916	135	33	similar	similar	ADJ
fbem-18916	135	34	to	to	ADP
fbem-18916	135	35	gold	gold	NOUN
fbem-18916	135	36	.	.	PUNCT
fbem-18916	136	1	catania	catania	PROPN
fbem-18916	136	2	,	,	PUNCT
fbem-18916	136	3	etc	etc	X
fbem-18916	137	1	[	[	X
fbem-18916	137	2	14	14	NUM
fbem-18916	137	3	]	]	PUNCT
fbem-18916	137	4	.	.	PUNCT
fbem-18916	138	1	(	(	PUNCT
fbem-18916	138	2	2018	2018	NUM
fbem-18916	138	3	)	)	PUNCT
fbem-18916	138	4	utilized	utilize	VERB
fbem-18916	138	5	four	four	NUM
fbem-18916	138	6	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	138	7	with	with	ADP
fbem-18916	138	8	the	the	DET
fbem-18916	138	9	highest	high	ADJ
fbem-18916	138	10	trading	trading	NOUN
fbem-18916	138	11	volume	volume	NOUN
fbem-18916	138	12	—	—	PUNCT
fbem-18916	138	13	bitcoin	bitcoin	ADJ
fbem-18916	138	14	,	,	PUNCT
fbem-18916	138	15	ethereum	ethereum	NOUN
fbem-18916	138	16	,	,	PUNCT
fbem-18916	138	17	litecoin	litecoin	NOUN
fbem-18916	138	18	,	,	PUNCT
fbem-18916	138	19	and	and	CCONJ
fbem-18916	138	20	ripple	ripple	ADJ
fbem-18916	138	21	—	—	PUNCT
fbem-18916	138	22	to	to	PART
fbem-18916	138	23	conduct	conduct	VERB
fbem-18916	138	24	time	time	NOUN
fbem-18916	138	25	-	-	PUNCT
fbem-18916	138	26	series	series	NOUN
fbem-18916	138	27	forecasting	forecasting	NOUN
fbem-18916	138	28	of	of	ADP
fbem-18916	138	29	cryptocurrency	cryptocurrency	NOUN
fbem-18916	138	30	volatility	volatility	NOUN
fbem-18916	138	31	.	.	PUNCT
fbem-18916	139	1	ardia	ardia	PROPN
fbem-18916	139	2	,	,	PUNCT
fbem-18916	139	3	etc	etc	X
fbem-18916	139	4	.	.	X
fbem-18916	139	5	(	(	PUNCT
fbem-18916	139	6	2019	2019	NUM
fbem-18916	139	7	)	)	PUNCT
fbem-18916	139	8	described	describe	VERB
fbem-18916	139	9	the	the	DET
fbem-18916	139	10	risk	risk	NOUN
fbem-18916	139	11	through	through	ADP
fbem-18916	139	12	bitcoin	bitcoin	ADJ
fbem-18916	139	13	garch	garch	NOUN
fbem-18916	139	14	volatility	volatility	NOUN
fbem-18916	139	15	dynamics	dynamic	NOUN
fbem-18916	139	16	'	'	PART
fbem-18916	139	17	mechanism	mechanism	NOUN
fbem-18916	139	18	changes	change	NOUN
fbem-18916	139	19	.	.	PUNCT
fbem-18916	140	1	bouri	bouri	PROPN
fbem-18916	140	2	&	&	CCONJ
fbem-18916	140	3	gupta	gupta	PROPN
fbem-18916	140	4	(	(	PUNCT
fbem-18916	140	5	2019	2019	NUM
fbem-18916	140	6	)	)	PUNCT
fbem-18916	140	7	aimed	aim	VERB
fbem-18916	140	8	to	to	PART
fbem-18916	140	9	examine	examine	VERB
fbem-18916	140	10	bitcoin	bitcoin	PROPN
fbem-18916	140	11	's	's	PART
fbem-18916	140	12	price	price	NOUN
fbem-18916	140	13	levels	level	NOUN
fbem-18916	140	14	and	and	CCONJ
fbem-18916	140	15	volatility	volatility	NOUN
fbem-18916	140	16	and	and	CCONJ
fbem-18916	140	17	their	their	PRON
fbem-18916	140	18	impact	impact	NOUN
fbem-18916	140	19	on	on	ADP
fbem-18916	140	20	structural	structural	ADJ
fbem-18916	140	21	breakdowns	breakdown	NOUN
fbem-18916	140	22	.	.	PUNCT
fbem-18916	141	1	they	they	PRON
fbem-18916	141	2	used	use	VERB
fbem-18916	141	3	parametric	parametric	ADJ
fbem-18916	141	4	and	and	CCONJ
fbem-18916	141	5	semi	semi	ADJ
fbem-18916	141	6	-	-	ADJ
fbem-18916	141	7	parametric	parametric	ADJ
fbem-18916	141	8	techniques	technique	NOUN
fbem-18916	141	9	and	and	CCONJ
fbem-18916	141	10	found	find	VERB
fbem-18916	141	11	strong	strong	ADJ
fbem-18916	141	12	evidence	evidence	NOUN
fbem-18916	141	13	in	in	ADP
fbem-18916	141	14	the	the	DET
fbem-18916	141	15	level	level	NOUN
fbem-18916	141	16	series	series	NOUN
fbem-18916	141	17	that	that	PRON
fbem-18916	141	18	bitcoin	bitcoin	NOUN
fbem-18916	141	19	lacks	lack	NOUN
fbem-18916	141	20	mean	mean	VERB
fbem-18916	141	21	reversion	reversion	NOUN
fbem-18916	141	22	.	.	PUNCT
fbem-18916	142	1	301	301	NUM
fbem-18916	142	2	2.3.2	2.3.2	NUM
fbem-18916	142	3	.	.	PUNCT
fbem-18916	143	1	domestic	domestic	ADJ
fbem-18916	143	2	studies	study	NOUN
fbem-18916	143	3	compared	compare	VERB
fbem-18916	143	4	to	to	ADP
fbem-18916	143	5	foreign	foreign	ADJ
fbem-18916	143	6	academia	academia	NOUN
fbem-18916	143	7	,	,	PUNCT
fbem-18916	143	8	domestic	domestic	ADJ
fbem-18916	143	9	academia	academia	NOUN
fbem-18916	143	10	has	have	AUX
fbem-18916	143	11	conducted	conduct	VERB
fbem-18916	143	12	relatively	relatively	ADV
fbem-18916	143	13	fewer	few	ADJ
fbem-18916	143	14	analyses	analysis	NOUN
fbem-18916	143	15	and	and	CCONJ
fbem-18916	143	16	studies	study	NOUN
fbem-18916	143	17	on	on	ADP
fbem-18916	143	18	issues	issue	NOUN
fbem-18916	143	19	such	such	ADJ
fbem-18916	143	20	as	as	ADP
fbem-18916	143	21	digital	digital	ADJ
fbem-18916	143	22	asset	asset	NOUN
fbem-18916	143	23	allocation	allocation	NOUN
fbem-18916	143	24	and	and	CCONJ
fbem-18916	143	25	portfolio	portfolio	NOUN
fbem-18916	143	26	management	management	NOUN
fbem-18916	143	27	.	.	PUNCT
fbem-18916	144	1	tu	tu	PROPN
fbem-18916	144	2	xinshu	xinshu	PROPN
fbem-18916	144	3	and	and	CCONJ
fbem-18916	144	4	wang	wang	PROPN
fbem-18916	144	5	chunfeng	chunfeng	PROPN
fbem-18916	144	6	(	(	PUNCT
fbem-18916	144	7	2002	2002	NUM
fbem-18916	144	8	)	)	PUNCT
fbem-18916	144	9	proposed	propose	VERB
fbem-18916	144	10	var	var	NOUN
fbem-18916	144	11	estimation	estimation	NOUN
fbem-18916	144	12	and	and	CCONJ
fbem-18916	144	13	introduced	introduce	VERB
fbem-18916	144	14	new	new	ADJ
fbem-18916	144	15	issues	issue	NOUN
fbem-18916	144	16	.	.	PUNCT
fbem-18916	145	1	by	by	ADP
fbem-18916	145	2	assuming	assume	VERB
fbem-18916	145	3	a	a	DET
fbem-18916	145	4	given	give	VERB
fbem-18916	145	5	acceptable	acceptable	ADJ
fbem-18916	145	6	var	var	NOUN
fbem-18916	145	7	,	,	PUNCT
fbem-18916	145	8	they	they	PRON
fbem-18916	145	9	determined	determine	VERB
fbem-18916	145	10	the	the	DET
fbem-18916	145	11	maximum	maximum	ADJ
fbem-18916	145	12	return	return	NOUN
fbem-18916	145	13	on	on	ADP
fbem-18916	145	14	a	a	DET
fbem-18916	145	15	portfolio	portfolio	NOUN
fbem-18916	145	16	investment	investment	NOUN
fbem-18916	145	17	given	give	VERB
fbem-18916	145	18	a	a	DET
fbem-18916	145	19	set	set	NOUN
fbem-18916	145	20	of	of	ADP
fbem-18916	145	21	securities	security	NOUN
fbem-18916	145	22	while	while	SCONJ
fbem-18916	145	23	simultaneously	simultaneously	ADV
fbem-18916	145	24	satisfying	satisfy	VERB
fbem-18916	145	25	var	var	NOUN
fbem-18916	145	26	constraints	constraint	NOUN
fbem-18916	145	27	.	.	PUNCT
fbem-18916	146	1	li	li	PROPN
fbem-18916	146	2	xiang	xiang	PROPN
fbem-18916	146	3	and	and	CCONJ
fbem-18916	146	4	liu	liu	PROPN
fbem-18916	146	5	shaobo	shaobo	NOUN
fbem-18916	146	6	(	(	PUNCT
fbem-18916	146	7	2015	2015	NUM
fbem-18916	146	8	)	)	PUNCT
fbem-18916	146	9	conducted	conduct	VERB
fbem-18916	146	10	optimal	optimal	ADJ
fbem-18916	146	11	decision	decision	NOUN
fbem-18916	146	12	analysis	analysis	NOUN
fbem-18916	146	13	of	of	ADP
fbem-18916	146	14	asset	asset	NOUN
fbem-18916	146	15	allocation	allocation	NOUN
fbem-18916	146	16	using	use	VERB
fbem-18916	146	17	monte	monte	PROPN
fbem-18916	146	18	carlo	carlo	PROPN
fbem-18916	146	19	simulation	simulation	NOUN
fbem-18916	146	20	methods	method	NOUN
fbem-18916	146	21	to	to	PART
fbem-18916	146	22	determine	determine	VERB
fbem-18916	146	23	the	the	DET
fbem-18916	146	24	value	value	NOUN
fbem-18916	146	25	of	of	ADP
fbem-18916	146	26	cryptocurrency	cryptocurrency	NOUN
fbem-18916	146	27	asset	asset	NOUN
fbem-18916	146	28	allocation	allocation	NOUN
fbem-18916	146	29	and	and	CCONJ
fbem-18916	146	30	their	their	PRON
fbem-18916	146	31	respective	respective	ADJ
fbem-18916	146	32	proportions	proportion	NOUN
fbem-18916	146	33	in	in	ADP
fbem-18916	146	34	a	a	DET
fbem-18916	146	35	large	large	ADJ
fbem-18916	146	36	asset	asset	NOUN
fbem-18916	146	37	class	class	NOUN
fbem-18916	146	38	portfolio	portfolio	NOUN
fbem-18916	147	1	[	[	X
fbem-18916	147	2	15	15	NUM
fbem-18916	147	3	]	]	PUNCT
fbem-18916	147	4	.	.	PUNCT
fbem-18916	148	1	li	li	PROPN
fbem-18916	148	2	jihong	jihong	PROPN
fbem-18916	148	3	,	,	PUNCT
fbem-18916	148	4	etc	etc	X
fbem-18916	148	5	.	.	X
fbem-18916	148	6	(	(	PUNCT
fbem-18916	148	7	2016	2016	NUM
fbem-18916	148	8	)	)	PUNCT
fbem-18916	148	9	,	,	PUNCT
fbem-18916	148	10	using	use	VERB
fbem-18916	148	11	bitcoin	bitcoin	NOUN
fbem-18916	148	12	as	as	ADP
fbem-18916	148	13	an	an	DET
fbem-18916	148	14	example	example	NOUN
fbem-18916	148	15	,	,	PUNCT
fbem-18916	148	16	compared	compare	VERB
fbem-18916	148	17	bitcoin	bitcoin	NOUN
fbem-18916	148	18	with	with	ADP
fbem-18916	148	19	traditional	traditional	ADJ
fbem-18916	148	20	currencies	currency	NOUN
fbem-18916	148	21	and	and	CCONJ
fbem-18916	148	22	digital	digital	ADJ
fbem-18916	148	23	currencies	currency	NOUN
fbem-18916	148	24	planned	plan	VERB
fbem-18916	148	25	to	to	PART
fbem-18916	148	26	be	be	AUX
fbem-18916	148	27	issued	issue	VERB
fbem-18916	148	28	by	by	ADP
fbem-18916	148	29	central	central	ADJ
fbem-18916	148	30	banks	bank	NOUN
fbem-18916	148	31	worldwide	worldwide	ADV
fbem-18916	148	32	,	,	PUNCT
fbem-18916	148	33	revealing	reveal	VERB
fbem-18916	148	34	their	their	PRON
fbem-18916	148	35	basic	basic	ADJ
fbem-18916	148	36	characteristics	characteristic	NOUN
fbem-18916	148	37	and	and	CCONJ
fbem-18916	148	38	focusing	focus	VERB
fbem-18916	148	39	on	on	ADP
fbem-18916	148	40	their	their	PRON
fbem-18916	148	41	"	"	PUNCT
fbem-18916	148	42	decentralization	decentralization	NOUN
fbem-18916	148	43	"	"	PUNCT
fbem-18916	148	44	features	feature	NOUN
fbem-18916	148	45	.	.	PUNCT
fbem-18916	149	1	niu	niu	PROPN
fbem-18916	149	2	yuemin	yuemin	PROPN
fbem-18916	149	3	(	(	PUNCT
fbem-18916	149	4	2017	2017	NUM
fbem-18916	149	5	)	)	PUNCT
fbem-18916	149	6	studied	study	VERB
fbem-18916	149	7	the	the	DET
fbem-18916	149	8	long	long	ADJ
fbem-18916	149	9	-	-	PUNCT
fbem-18916	149	10	term	term	NOUN
fbem-18916	149	11	stability	stability	NOUN
fbem-18916	149	12	and	and	CCONJ
fbem-18916	149	13	short	short	ADJ
fbem-18916	149	14	-	-	PUNCT
fbem-18916	149	15	term	term	NOUN
fbem-18916	149	16	lead	lead	NOUN
fbem-18916	149	17	-	-	PUNCT
fbem-18916	149	18	lag	lag	NOUN
fbem-18916	149	19	relationships	relationship	NOUN
fbem-18916	149	20	between	between	ADP
fbem-18916	149	21	bitcoin	bitcoin	NOUN
fbem-18916	149	22	prices	price	NOUN
fbem-18916	149	23	and	and	CCONJ
fbem-18916	149	24	five	five	NUM
fbem-18916	149	25	major	major	ADJ
fbem-18916	149	26	macroeconomic	macroeconomic	ADJ
fbem-18916	149	27	indicators	indicator	NOUN
fbem-18916	149	28	(	(	PUNCT
fbem-18916	149	29	dow	dow	PROPN
fbem-18916	149	30	jones	jones	PROPN
fbem-18916	149	31	index	index	PROPN
fbem-18916	149	32	,	,	PUNCT
fbem-18916	149	33	us	us	PROPN
fbem-18916	149	34	dollar	dollar	NOUN
fbem-18916	149	35	,	,	PUNCT
fbem-18916	149	36	crude	crude	ADJ
fbem-18916	149	37	oil	oil	NOUN
fbem-18916	149	38	,	,	PUNCT
fbem-18916	149	39	federal	federal	ADJ
fbem-18916	149	40	funds	fund	NOUN
fbem-18916	149	41	rate	rate	NOUN
fbem-18916	149	42	,	,	PUNCT
fbem-18916	149	43	and	and	CCONJ
fbem-18916	149	44	gold	gold	NOUN
fbem-18916	149	45	prices	price	NOUN
fbem-18916	149	46	)	)	PUNCT
fbem-18916	149	47	,	,	PUNCT
fbem-18916	149	48	exploring	explore	VERB
fbem-18916	149	49	whether	whether	SCONJ
fbem-18916	149	50	bitcoin	bitcoin	NOUN
fbem-18916	149	51	has	have	AUX
fbem-18916	149	52	become	become	VERB
fbem-18916	149	53	a	a	DET
fbem-18916	149	54	mature	mature	ADJ
fbem-18916	149	55	alternative	alternative	ADJ
fbem-18916	149	56	investment	investment	NOUN
fbem-18916	149	57	tool	tool	NOUN
fbem-18916	149	58	and	and	CCONJ
fbem-18916	149	59	whether	whether	SCONJ
fbem-18916	149	60	there	there	PRON
fbem-18916	149	61	is	be	VERB
fbem-18916	149	62	interaction	interaction	NOUN
fbem-18916	149	63	between	between	ADP
fbem-18916	149	64	bitcoin	bitcoin	ADJ
fbem-18916	149	65	price	price	NOUN
fbem-18916	149	66	volatility	volatility	NOUN
fbem-18916	149	67	and	and	CCONJ
fbem-18916	149	68	other	other	ADJ
fbem-18916	149	69	investment	investment	NOUN
fbem-18916	149	70	instruments	instrument	NOUN
fbem-18916	149	71	.	.	PUNCT
fbem-18916	150	1	yan	yan	PROPN
fbem-18916	150	2	fangling	fangling	PROPN
fbem-18916	150	3	,	,	PUNCT
fbem-18916	150	4	etc	etc	X
fbem-18916	150	5	.	.	X
fbem-18916	150	6	(	(	PUNCT
fbem-18916	150	7	2018	2018	NUM
fbem-18916	150	8	)	)	PUNCT
fbem-18916	150	9	,	,	PUNCT
fbem-18916	150	10	discussed	discuss	VERB
fbem-18916	150	11	the	the	DET
fbem-18916	150	12	reasons	reason	NOUN
fbem-18916	150	13	for	for	ADP
fbem-18916	150	14	changes	change	NOUN
fbem-18916	150	15	in	in	ADP
fbem-18916	150	16	bitcoin	bitcoin	ADJ
fbem-18916	150	17	prices	price	NOUN
fbem-18916	150	18	and	and	CCONJ
fbem-18916	150	19	theoretically	theoretically	ADV
fbem-18916	150	20	analyzed	analyze	VERB
fbem-18916	150	21	the	the	DET
fbem-18916	150	22	impact	impact	NOUN
fbem-18916	150	23	of	of	ADP
fbem-18916	150	24	china	china	PROPN
fbem-18916	150	25	's	's	PART
fbem-18916	150	26	monetary	monetary	ADJ
fbem-18916	150	27	policy	policy	NOUN
fbem-18916	150	28	and	and	CCONJ
fbem-18916	150	29	domestic	domestic	ADJ
fbem-18916	150	30	market	market	NOUN
fbem-18916	150	31	demand	demand	NOUN
fbem-18916	150	32	on	on	ADP
fbem-18916	150	33	bitcoin	bitcoin	ADJ
fbem-18916	150	34	price	price	NOUN
fbem-18916	150	35	changes	change	NOUN
fbem-18916	150	36	.	.	PUNCT
fbem-18916	151	1	the	the	DET
fbem-18916	151	2	article	article	NOUN
fbem-18916	151	3	also	also	ADV
fbem-18916	151	4	empirically	empirically	ADV
fbem-18916	151	5	studied	study	VERB
fbem-18916	151	6	factors	factor	NOUN
fbem-18916	151	7	such	such	ADJ
fbem-18916	151	8	as	as	ADP
fbem-18916	151	9	exchange	exchange	NOUN
fbem-18916	151	10	rates	rate	NOUN
fbem-18916	151	11	,	,	PUNCT
fbem-18916	151	12	gold	gold	NOUN
fbem-18916	151	13	,	,	PUNCT
fbem-18916	151	14	stocks	stock	NOUN
fbem-18916	151	15	,	,	PUNCT
fbem-18916	151	16	and	and	CCONJ
fbem-18916	151	17	the	the	DET
fbem-18916	151	18	prices	price	NOUN
fbem-18916	151	19	of	of	ADP
fbem-18916	151	20	investment	investment	NOUN
fbem-18916	151	21	tools	tool	NOUN
fbem-18916	151	22	such	such	ADJ
fbem-18916	151	23	as	as	ADP
fbem-18916	151	24	bitcoin	bitcoin	NOUN
fbem-18916	151	25	,	,	PUNCT
fbem-18916	151	26	gold	gold	NOUN
fbem-18916	151	27	,	,	PUNCT
fbem-18916	151	28	stock	stock	NOUN
fbem-18916	151	29	indices	index	NOUN
fbem-18916	151	30	,	,	PUNCT
fbem-18916	151	31	and	and	CCONJ
fbem-18916	151	32	exchange	exchange	NOUN
fbem-18916	151	33	rates	rate	NOUN
fbem-18916	151	34	.	.	PUNCT
fbem-18916	152	1	fu	fu	PROPN
fbem-18916	152	2	zhongliang	zhongliang	PROPN
fbem-18916	152	3	(	(	PUNCT
fbem-18916	152	4	2019	2019	NUM
fbem-18916	152	5	)	)	PUNCT
fbem-18916	152	6	conducted	conduct	VERB
fbem-18916	152	7	a	a	DET
fbem-18916	152	8	comprehensive	comprehensive	ADJ
fbem-18916	152	9	analysis	analysis	NOUN
fbem-18916	152	10	using	use	VERB
fbem-18916	152	11	eight	eight	NUM
fbem-18916	152	12	assets	asset	NOUN
fbem-18916	152	13	including	include	VERB
fbem-18916	152	14	cryptocurrency	cryptocurrency	NOUN
fbem-18916	152	15	index	index	NOUN
fbem-18916	152	16	,	,	PUNCT
fbem-18916	152	17	shanghai	shanghai	PROPN
fbem-18916	152	18	stock	stock	PROPN
fbem-18916	152	19	exchange	exchange	PROPN
fbem-18916	152	20	index	index	NOUN
fbem-18916	152	21	,	,	PUNCT
fbem-18916	152	22	s&p	s&p	PROPN
fbem-18916	152	23	500	500	NUM
fbem-18916	152	24	index	index	NOUN
fbem-18916	152	25	,	,	PUNCT
fbem-18916	152	26	us	us	PROPN
fbem-18916	152	27	treasury	treasury	PROPN
fbem-18916	152	28	index	index	PROPN
fbem-18916	152	29	,	,	PUNCT
fbem-18916	152	30	us	us	PROPN
fbem-18916	152	31	corporate	corporate	ADJ
fbem-18916	152	32	bond	bond	NOUN
fbem-18916	152	33	index	index	NOUN
fbem-18916	152	34	,	,	PUNCT
fbem-18916	152	35	commodity	commodity	NOUN
fbem-18916	152	36	index	index	NOUN
fbem-18916	152	37	,	,	PUNCT
fbem-18916	152	38	gold	gold	NOUN
fbem-18916	152	39	index	index	NOUN
fbem-18916	152	40	,	,	PUNCT
fbem-18916	152	41	and	and	CCONJ
fbem-18916	152	42	us	us	PROPN
fbem-18916	152	43	dollar	dollar	NOUN
fbem-18916	152	44	index	index	NOUN
fbem-18916	152	45	,	,	PUNCT
fbem-18916	152	46	and	and	CCONJ
fbem-18916	152	47	used	use	VERB
fbem-18916	152	48	the	the	DET
fbem-18916	152	49	dcc	dcc	PROPN
fbem-18916	152	50	-	-	PUNCT
fbem-18916	152	51	garch	garch	NOUN
fbem-18916	152	52	model	model	NOUN
fbem-18916	152	53	to	to	PART
fbem-18916	152	54	hedge	hedge	VERB
fbem-18916	152	55	other	other	ADJ
fbem-18916	152	56	assets	asset	NOUN
fbem-18916	153	1	[	[	X
fbem-18916	153	2	16	16	NUM
fbem-18916	153	3	]	]	PUNCT
fbem-18916	153	4	.	.	PUNCT
fbem-18916	154	1	2.3.3	2.3.3	NUM
fbem-18916	154	2	.	.	PUNCT
fbem-18916	154	3	conclusive	conclusive	ADJ
fbem-18916	154	4	review	review	NOUN
fbem-18916	154	5	from	from	ADP
fbem-18916	154	6	the	the	DET
fbem-18916	154	7	literature	literature	NOUN
fbem-18916	154	8	review	review	NOUN
fbem-18916	154	9	both	both	CCONJ
fbem-18916	154	10	domestically	domestically	ADV
fbem-18916	154	11	and	and	CCONJ
fbem-18916	154	12	internationally	internationally	ADV
fbem-18916	154	13	,	,	PUNCT
fbem-18916	154	14	it	it	PRON
fbem-18916	154	15	is	be	AUX
fbem-18916	154	16	evident	evident	ADJ
fbem-18916	154	17	that	that	SCONJ
fbem-18916	154	18	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	154	19	and	and	CCONJ
fbem-18916	154	20	other	other	ADJ
fbem-18916	154	21	digital	digital	ADJ
fbem-18916	154	22	assets	asset	NOUN
fbem-18916	154	23	have	have	AUX
fbem-18916	154	24	garnered	garner	VERB
fbem-18916	154	25	widespread	widespread	ADJ
fbem-18916	154	26	attention	attention	NOUN
fbem-18916	154	27	in	in	ADP
fbem-18916	154	28	academia	academia	NOUN
fbem-18916	154	29	,	,	PUNCT
fbem-18916	154	30	with	with	ADP
fbem-18916	154	31	research	research	NOUN
fbem-18916	154	32	on	on	ADP
fbem-18916	154	33	tail	tail	NOUN
fbem-18916	154	34	risk	risk	NOUN
fbem-18916	154	35	in	in	ADP
fbem-18916	154	36	the	the	DET
fbem-18916	154	37	digital	digital	ADJ
fbem-18916	154	38	asset	asset	NOUN
fbem-18916	154	39	market	market	NOUN
fbem-18916	154	40	and	and	CCONJ
fbem-18916	154	41	portfolio	portfolio	NOUN
fbem-18916	154	42	analysis	analysis	NOUN
fbem-18916	154	43	issues	issue	NOUN
fbem-18916	154	44	being	be	AUX
fbem-18916	154	45	increasingly	increasingly	ADV
fbem-18916	154	46	prominent	prominent	ADJ
fbem-18916	154	47	.	.	PUNCT
fbem-18916	155	1	existing	exist	VERB
fbem-18916	155	2	domestic	domestic	ADJ
fbem-18916	155	3	research	research	NOUN
fbem-18916	155	4	mainly	mainly	ADV
fbem-18916	155	5	focuses	focus	VERB
fbem-18916	155	6	on	on	ADP
fbem-18916	155	7	exploring	explore	VERB
fbem-18916	155	8	the	the	DET
fbem-18916	155	9	value	value	NOUN
fbem-18916	155	10	and	and	CCONJ
fbem-18916	155	11	mechanisms	mechanism	NOUN
fbem-18916	155	12	of	of	ADP
fbem-18916	155	13	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	155	14	,	,	PUNCT
fbem-18916	155	15	with	with	ADP
fbem-18916	155	16	limited	limited	ADJ
fbem-18916	155	17	studies	study	NOUN
fbem-18916	155	18	on	on	ADP
fbem-18916	155	19	systematically	systematically	ADV
fbem-18916	155	20	analyzing	analyze	VERB
fbem-18916	155	21	tail	tail	NOUN
fbem-18916	155	22	risk	risk	NOUN
fbem-18916	155	23	of	of	ADP
fbem-18916	155	24	digital	digital	ADJ
fbem-18916	155	25	assets	asset	NOUN
fbem-18916	155	26	and	and	CCONJ
fbem-18916	155	27	portfolio	portfolio	NOUN
fbem-18916	155	28	analysis	analysis	NOUN
fbem-18916	155	29	issues	issue	NOUN
fbem-18916	155	30	.	.	PUNCT
fbem-18916	156	1	this	this	PRON
fbem-18916	156	2	calls	call	VERB
fbem-18916	156	3	for	for	ADP
fbem-18916	156	4	innovative	innovative	ADJ
fbem-18916	156	5	research	research	NOUN
fbem-18916	156	6	approaches	approach	NOUN
fbem-18916	156	7	to	to	PART
fbem-18916	156	8	delve	delve	VERB
fbem-18916	156	9	deeper	deeply	ADV
fbem-18916	156	10	into	into	ADP
fbem-18916	156	11	systematically	systematically	ADV
fbem-18916	156	12	studying	study	VERB
fbem-18916	156	13	tail	tail	NOUN
fbem-18916	156	14	risk	risk	NOUN
fbem-18916	156	15	in	in	ADP
fbem-18916	156	16	the	the	DET
fbem-18916	156	17	digital	digital	ADJ
fbem-18916	156	18	asset	asset	NOUN
fbem-18916	156	19	market	market	NOUN
fbem-18916	156	20	and	and	CCONJ
fbem-18916	156	21	establishing	establish	VERB
fbem-18916	156	22	portfolio	portfolio	NOUN
fbem-18916	156	23	analysis	analysis	NOUN
fbem-18916	156	24	frameworks	framework	NOUN
fbem-18916	156	25	by	by	ADP
fbem-18916	156	26	measuring	measure	VERB
fbem-18916	156	27	risks	risk	NOUN
fbem-18916	156	28	and	and	CCONJ
fbem-18916	156	29	implementing	implement	VERB
fbem-18916	156	30	hedging	hedging	NOUN
fbem-18916	156	31	and	and	CCONJ
fbem-18916	156	32	diversification	diversification	NOUN
fbem-18916	156	33	strategies	strategy	NOUN
fbem-18916	156	34	[	[	X
fbem-18916	156	35	17	17	NUM
fbem-18916	156	36	]	]	PUNCT
fbem-18916	156	37	.	.	PUNCT
fbem-18916	157	1	3	3	X
fbem-18916	157	2	.	.	PUNCT
fbem-18916	157	3	model	model	NOUN
fbem-18916	157	4	selection	selection	PROPN
fbem-18916	157	5	3.1	3.1	NUM
fbem-18916	157	6	.	.	PUNCT
fbem-18916	157	7	var	var	NOUN
fbem-18916	157	8	-	-	PUNCT
fbem-18916	157	9	garch	garch	NOUN
fbem-18916	157	10	model	model	NOUN
fbem-18916	157	11	3.1.1	3.1.1	NUM
fbem-18916	157	12	the	the	DET
fbem-18916	157	13	value	value	NOUN
fbem-18916	157	14	at	at	ADP
fbem-18916	157	15	risk	risk	NOUN
fbem-18916	157	16	(	(	PUNCT
fbem-18916	157	17	var	var	NOUN
fbem-18916	157	18	)	)	PUNCT
fbem-18916	157	19	model	model	NOUN
fbem-18916	157	20	quantifies	quantifie	NOUN
fbem-18916	157	21	the	the	DET
fbem-18916	157	22	maximum	maximum	ADJ
fbem-18916	157	23	expected	expect	VERB
fbem-18916	157	24	loss	loss	NOUN
fbem-18916	157	25	of	of	ADP
fbem-18916	157	26	a	a	DET
fbem-18916	157	27	financial	financial	ADJ
fbem-18916	157	28	asset	asset	NOUN
fbem-18916	157	29	or	or	CCONJ
fbem-18916	157	30	portfolio	portfolio	NOUN
fbem-18916	157	31	within	within	ADP
fbem-18916	157	32	a	a	DET
fbem-18916	157	33	specified	specify	VERB
fbem-18916	157	34	time	time	NOUN
fbem-18916	157	35	horizon	horizon	NOUN
fbem-18916	157	36	at	at	ADP
fbem-18916	157	37	a	a	DET
fbem-18916	157	38	certain	certain	ADJ
fbem-18916	157	39	confidence	confidence	NOUN
fbem-18916	157	40	level	level	NOUN
fbem-18916	157	41	during	during	ADP
fbem-18916	157	42	normal	normal	ADJ
fbem-18916	157	43	market	market	NOUN
fbem-18916	157	44	fluctuations	fluctuation	NOUN
fbem-18916	157	45	.	.	PUNCT
fbem-18916	158	1	var	var	PROPN
fbem-18916	158	2	can	can	AUX
fbem-18916	158	3	be	be	AUX
fbem-18916	158	4	expressed	express	VERB
fbem-18916	158	5	as	as	ADP
fbem-18916	158	6	:	:	PUNCT
fbem-18916	158	7	(	(	PUNCT
fbem-18916	158	8	1	1	X
fbem-18916	158	9	)	)	PUNCT
fbem-18916	158	10	where	where	SCONJ
fbem-18916	158	11	:	:	PUNCT
fbem-18916	158	12	δv	δv	ADV
fbem-18916	158	13	is	be	AUX
fbem-18916	158	14	the	the	DET
fbem-18916	158	15	total	total	ADJ
fbem-18916	158	16	change	change	NOUN
fbem-18916	158	17	in	in	ADP
fbem-18916	158	18	value	value	NOUN
fbem-18916	158	19	of	of	ADP
fbem-18916	158	20	a	a	DET
fbem-18916	158	21	financial	financial	ADJ
fbem-18916	158	22	asset	asset	NOUN
fbem-18916	158	23	or	or	CCONJ
fbem-18916	158	24	portfolio	portfolio	NOUN
fbem-18916	158	25	over	over	ADP
fbem-18916	158	26	a	a	DET
fbem-18916	158	27	specific	specific	ADJ
fbem-18916	158	28	time	time	NOUN
fbem-18916	158	29	period	period	NOUN
fbem-18916	158	30	;	;	PUNCT
fbem-18916	158	31	δt	δt	X
fbem-18916	158	32	is	be	AUX
fbem-18916	158	33	the	the	DET
fbem-18916	158	34	holding	hold	VERB
fbem-18916	158	35	period	period	NOUN
fbem-18916	158	36	;	;	PUNCT
fbem-18916	158	37	δx	δx	NOUN
fbem-18916	158	38	is	be	AUX
fbem-18916	158	39	the	the	DET
fbem-18916	158	40	risk	risk	NOUN
fbem-18916	158	41	factor	factor	NOUN
fbem-18916	158	42	;	;	PUNCT
fbem-18916	158	43	var	var	NOUN
fbem-18916	158	44	is	be	AUX
fbem-18916	158	45	the	the	DET
fbem-18916	158	46	maximum	maximum	ADJ
fbem-18916	158	47	loss	loss	NOUN
fbem-18916	158	48	limit	limit	NOUN
fbem-18916	158	49	;	;	PUNCT
fbem-18916	158	50	prob	prob	NOUN
fbem-18916	158	51	represents	represent	VERB
fbem-18916	158	52	the	the	DET
fbem-18916	158	53	probability	probability	NOUN
fbem-18916	158	54	that	that	SCONJ
fbem-18916	158	55	the	the	DET
fbem-18916	158	56	actual	actual	ADJ
fbem-18916	158	57	loss	loss	NOUN
fbem-18916	158	58	of	of	ADP
fbem-18916	158	59	asset	asset	NOUN
fbem-18916	158	60	value	value	NOUN
fbem-18916	158	61	is	be	AUX
fbem-18916	158	62	less	less	ADJ
fbem-18916	158	63	than	than	ADP
fbem-18916	158	64	the	the	DET
fbem-18916	158	65	maximum	maximum	ADJ
fbem-18916	158	66	expected	expect	VERB
fbem-18916	158	67	loss	loss	NOUN
fbem-18916	158	68	;	;	PUNCT
fbem-18916	158	69	α	α	PRON
fbem-18916	158	70	is	be	AUX
fbem-18916	158	71	the	the	DET
fbem-18916	158	72	confidence	confidence	NOUN
fbem-18916	158	73	level	level	NOUN
fbem-18916	158	74	.	.	PUNCT
fbem-18916	159	1	the	the	DET
fbem-18916	159	2	expected	expect	VERB
fbem-18916	159	3	return	return	NOUN
fbem-18916	159	4	distribution	distribution	NOUN
fbem-18916	159	5	function	function	NOUN
fbem-18916	159	6	of	of	ADP
fbem-18916	159	7	var	var	NOUN
fbem-18916	159	8	needs	need	VERB
fbem-18916	159	9	to	to	PART
fbem-18916	159	10	be	be	AUX
fbem-18916	159	11	fitted	fit	VERB
fbem-18916	159	12	appropriately	appropriately	ADV
fbem-18916	159	13	by	by	ADP
fbem-18916	159	14	statistical	statistical	ADJ
fbem-18916	159	15	tools	tool	NOUN
fbem-18916	159	16	to	to	PART
fbem-18916	159	17	accurately	accurately	ADV
fbem-18916	159	18	describe	describe	VERB
fbem-18916	159	19	the	the	DET
fbem-18916	159	20	characteristics	characteristic	NOUN
fbem-18916	159	21	of	of	ADP
fbem-18916	159	22	the	the	DET
fbem-18916	159	23	"	"	PUNCT
fbem-18916	159	24	fat	fat	NOUN
fbem-18916	159	25	-	-	PUNCT
fbem-18916	159	26	tailed	tailed	ADJ
fbem-18916	159	27	"	"	PUNCT
fbem-18916	159	28	return	return	NOUN
fbem-18916	159	29	distribution	distribution	NOUN
fbem-18916	159	30	of	of	ADP
fbem-18916	159	31	financial	financial	ADJ
fbem-18916	159	32	assets	asset	NOUN
fbem-18916	159	33	.	.	PUNCT
fbem-18916	160	1	in	in	ADP
fbem-18916	160	2	this	this	DET
fbem-18916	160	3	study	study	NOUN
fbem-18916	160	4	,	,	PUNCT
fbem-18916	160	5	the	the	DET
fbem-18916	160	6	variancecovariance	variancecovariance	NOUN
fbem-18916	160	7	method	method	NOUN
fbem-18916	160	8	is	be	AUX
fbem-18916	160	9	used	use	VERB
fbem-18916	160	10	to	to	PART
fbem-18916	160	11	measure	measure	VERB
fbem-18916	160	12	asset	asset	NOUN
fbem-18916	160	13	var	var	NOUN
fbem-18916	160	14	values	value	NOUN
fbem-18916	160	15	.	.	PUNCT
fbem-18916	161	1	assuming	assume	VERB
fbem-18916	161	2	the	the	DET
fbem-18916	161	3	return	return	NOUN
fbem-18916	161	4	rate	rate	NOUN
fbem-18916	161	5	r	r	NOUN
fbem-18916	161	6	follows	follow	VERB
fbem-18916	161	7	a	a	DET
fbem-18916	161	8	normal	normal	ADJ
fbem-18916	161	9	distribution	distribution	NOUN
fbem-18916	161	10	n（μ，σ2	n（μ，σ2	NOUN
fbem-18916	161	11	）	）	PROPN
fbem-18916	161	12	,	,	PUNCT
fbem-18916	161	13	the	the	DET
fbem-18916	161	14	var	var	NOUN
fbem-18916	161	15	value	value	NOUN
fbem-18916	161	16	of	of	ADP
fbem-18916	161	17	the	the	DET
fbem-18916	161	18	return	return	NOUN
fbem-18916	161	19	rate	rate	NOUN
fbem-18916	161	20	over	over	ADP
fbem-18916	161	21	t	t	NOUN
fbem-18916	161	22	days	day	NOUN
fbem-18916	161	23	at	at	ADP
fbem-18916	161	24	a	a	DET
fbem-18916	161	25	given	give	VERB
fbem-18916	161	26	confidence	confidence	NOUN
fbem-18916	161	27	level	level	NOUN
fbem-18916	161	28	α	α	NOUN
fbem-18916	161	29	is	be	AUX
fbem-18916	161	30	calculated	calculate	VERB
fbem-18916	161	31	as	as	ADP
fbem-18916	161	32	:	:	PUNCT
fbem-18916	161	33	(	(	PUNCT
fbem-18916	161	34	2	2	X
fbem-18916	161	35	)	)	PUNCT
fbem-18916	161	36	the	the	DET
fbem-18916	161	37	daily	daily	ADJ
fbem-18916	161	38	var	var	NOUN
fbem-18916	161	39	value	value	NOUN
fbem-18916	161	40	of	of	ADP
fbem-18916	161	41	financial	financial	ADJ
fbem-18916	161	42	asset	asset	NOUN
fbem-18916	161	43	prices	price	NOUN
fbem-18916	161	44	is	be	AUX
fbem-18916	161	45	calculated	calculate	VERB
fbem-18916	161	46	as	as	ADP
fbem-18916	161	47	:	:	PUNCT
fbem-18916	161	48	(	(	PUNCT
fbem-18916	161	49	3	3	X
fbem-18916	161	50	)	)	PUNCT
fbem-18916	161	51	the	the	DET
fbem-18916	161	52	variance	variance	NOUN
fbem-18916	161	53	-	-	PUNCT
fbem-18916	161	54	covariance	covariance	NOUN
fbem-18916	161	55	method	method	NOUN
fbem-18916	161	56	leads	lead	VERB
fbem-18916	161	57	to	to	ADP
fbem-18916	161	58	the	the	DET
fbem-18916	161	59	derivation	derivation	NOUN
fbem-18916	161	60	of	of	ADP
fbem-18916	161	61	the	the	DET
fbem-18916	161	62	dynamic	dynamic	ADJ
fbem-18916	161	63	variance	variance	NOUN
fbem-18916	161	64	-	-	PUNCT
fbem-18916	161	65	covariance	covariance	NOUN
fbem-18916	161	66	method	method	NOUN
fbem-18916	161	67	,	,	PUNCT
fbem-18916	161	68	which	which	PRON
fbem-18916	161	69	assumes	assume	VERB
fbem-18916	161	70	that	that	SCONJ
fbem-18916	161	71	the	the	DET
fbem-18916	161	72	volatility	volatility	NOUN
fbem-18916	161	73	of	of	ADP
fbem-18916	161	74	the	the	DET
fbem-18916	161	75	return	return	NOUN
fbem-18916	161	76	distribution	distribution	NOUN
fbem-18916	161	77	changes	change	NOUN
fbem-18916	161	78	over	over	ADP
fbem-18916	161	79	time	time	NOUN
fbem-18916	161	80	,	,	PUNCT
fbem-18916	161	81	further	far	ADV
fbem-18916	161	82	improving	improve	VERB
fbem-18916	161	83	the	the	DET
fbem-18916	161	84	fitting	fitting	ADJ
fbem-18916	161	85	accuracy	accuracy	NOUN
fbem-18916	161	86	of	of	ADP
fbem-18916	161	87	financial	financial	ADJ
fbem-18916	161	88	data	datum	NOUN
fbem-18916	161	89	volatility	volatility	NOUN
fbem-18916	161	90	characteristics	characteristic	NOUN
fbem-18916	161	91	[	[	X
fbem-18916	161	92	18	18	NUM
fbem-18916	161	93	]	]	PUNCT
fbem-18916	161	94	.	.	PUNCT
fbem-18916	162	1	3.1.2	3.1.2	NUM
fbem-18916	162	2	garch	garch	NOUN
fbem-18916	162	3	model	model	NOUN
fbem-18916	162	4	generalized	generalize	VERB
fbem-18916	162	5	autoregressive	autoregressive	ADJ
fbem-18916	162	6	conditional	conditional	ADJ
fbem-18916	162	7	heteroskedasticity	heteroskedasticity	NOUN
fbem-18916	162	8	(	(	PUNCT
fbem-18916	162	9	garch	garch	NOUN
fbem-18916	162	10	)	)	PUNCT
fbem-18916	162	11	model	model	NOUN
fbem-18916	162	12	is	be	AUX
fbem-18916	162	13	an	an	DET
fbem-18916	162	14	important	important	ADJ
fbem-18916	162	15	extension	extension	NOUN
fbem-18916	162	16	of	of	ADP
fbem-18916	162	17	the	the	DET
fbem-18916	162	18	arch	arch	ADJ
fbem-18916	162	19	model	model	NOUN
fbem-18916	162	20	.	.	PUNCT
fbem-18916	163	1	assuming	assume	VERB
fbem-18916	163	2	that	that	SCONJ
fbem-18916	163	3	the	the	DET
fbem-18916	163	4	return	return	NOUN
fbem-18916	163	5	rate	rate	NOUN
fbem-18916	163	6	rt	rt	PROPN
fbem-18916	163	7	follows	follow	VERB
fbem-18916	163	8	a	a	DET
fbem-18916	163	9	normal	normal	ADJ
fbem-18916	163	10	distribution	distribution	NOUN
fbem-18916	163	11	n（μ1，σ1	n（μ1，σ1	PROPN
fbem-18916	163	12	）	）	PROPN
fbem-18916	163	13	,	,	PUNCT
fbem-18916	163	14	the	the	DET
fbem-18916	163	15	general	general	ADJ
fbem-18916	163	16	form	form	NOUN
fbem-18916	163	17	of	of	ADP
fbem-18916	163	18	the	the	DET
fbem-18916	163	19	garch	garch	NOUN
fbem-18916	163	20	(	(	PUNCT
fbem-18916	163	21	p	p	X
fbem-18916	163	22	,	,	PUNCT
fbem-18916	163	23	q	q	NOUN
fbem-18916	163	24	)	)	PUNCT
fbem-18916	163	25	model	model	NOUN
fbem-18916	163	26	is	be	AUX
fbem-18916	163	27	expressed	express	VERB
fbem-18916	163	28	as	as	ADP
fbem-18916	163	29	:	:	PUNCT
fbem-18916	163	30	(	(	PUNCT
fbem-18916	163	31	4	4	NUM
fbem-18916	163	32	)	)	PUNCT
fbem-18916	163	33	(	(	PUNCT
fbem-18916	163	34	5	5	NUM
fbem-18916	163	35	)	)	PUNCT
fbem-18916	163	36	where	where	SCONJ
fbem-18916	163	37	the	the	DET
fbem-18916	163	38	terms	term	NOUN
fbem-18916	163	39	in	in	ADP
fbem-18916	163	40	the	the	DET
fbem-18916	163	41	equation	equation	NOUN
fbem-18916	163	42	are	be	AUX
fbem-18916	163	43	explained	explain	VERB
fbem-18916	163	44	as	as	SCONJ
fbem-18916	163	45	follows	follow	VERB
fbem-18916	163	46	:	:	PUNCT
fbem-18916	163	47	μ1	μ1	NOUN
fbem-18916	163	48	represents	represent	VERB
fbem-18916	163	49	the	the	DET
fbem-18916	163	50	independent	independent	ADJ
fbem-18916	163	51	and	and	CCONJ
fbem-18916	163	52	identically	identically	ADV
fbem-18916	163	53	distributed	distribute	VERB
fbem-18916	163	54	white	white	ADJ
fbem-18916	163	55	noise	noise	NOUN
fbem-18916	163	56	sequence	sequence	NOUN
fbem-18916	163	57	;	;	PUNCT
fbem-18916	163	58	p	p	NOUN
fbem-18916	163	59	represents	represent	VERB
fbem-18916	163	60	the	the	DET
fbem-18916	163	61	p	p	NOUN
fbem-18916	163	62	-	-	PUNCT
fbem-18916	163	63	th	th	VERB
fbem-18916	163	64	order	order	NOUN
fbem-18916	163	65	lag	lag	NOUN
fbem-18916	163	66	of	of	ADP
fbem-18916	163	67	historical	historical	ADJ
fbem-18916	163	68	return	return	NOUN
fbem-18916	163	69	rates	rate	NOUN
fbem-18916	163	70	;	;	PUNCT
fbem-18916	163	71	q	q	PUNCT
fbem-18916	163	72	represents	represent	VERB
fbem-18916	163	73	the	the	DET
fbem-18916	163	74	q	q	NOUN
fbem-18916	163	75	-	-	PUNCT
fbem-18916	163	76	th	th	VERB
fbem-18916	163	77	order	order	NOUN
fbem-18916	163	78	lag	lag	NOUN
fbem-18916	163	79	of	of	ADP
fbem-18916	163	80	previous	previous	ADJ
fbem-18916	163	81	variances	variance	NOUN
fbem-18916	163	82	[	[	X
fbem-18916	163	83	19	19	NUM
fbem-18916	163	84	]	]	PUNCT
fbem-18916	163	85	.	.	PUNCT
fbem-18916	164	1	the	the	DET
fbem-18916	164	2	garch	garch	NOUN
fbem-18916	164	3	model	model	NOUN
fbem-18916	164	4	describes	describe	VERB
fbem-18916	164	5	the	the	DET
fbem-18916	164	6	variation	variation	NOUN
fbem-18916	164	7	of	of	ADP
fbem-18916	164	8	conditional	conditional	ADJ
fbem-18916	164	9	variance	variance	NOUN
fbem-18916	164	10	over	over	ADP
fbem-18916	164	11	time	time	NOUN
fbem-18916	164	12	,	,	PUNCT
fbem-18916	164	13	effectively	effectively	ADV
fbem-18916	164	14	demonstrating	demonstrate	VERB
fbem-18916	164	15	volatility	volatility	NOUN
fbem-18916	164	16	and	and	CCONJ
fbem-18916	164	17	explaining	explain	VERB
fbem-18916	164	18	the	the	DET
fbem-18916	164	19	phenomenon	phenomenon	NOUN
fbem-18916	164	20	of	of	ADP
fbem-18916	164	21	volatility	volatility	NOUN
fbem-18916	164	22	clustering	clustering	NOUN
fbem-18916	164	23	.	.	PUNCT
fbem-18916	165	1	calculation	calculation	NOUN
fbem-18916	165	2	methods	method	NOUN
fbem-18916	165	3	for	for	ADP
fbem-18916	165	4	garch	garch	NOUN
fbem-18916	165	5	models	model	NOUN
fbem-18916	165	6	exist	exist	VERB
fbem-18916	165	7	for	for	ADP
fbem-18916	165	8	distributions	distribution	NOUN
fbem-18916	165	9	following	follow	VERB
fbem-18916	165	10	the	the	DET
fbem-18916	165	11	t	t	NOUN
fbem-18916	165	12	-	-	PUNCT
fbem-18916	165	13	distribution	distribution	NOUN
fbem-18916	165	14	and	and	CCONJ
fbem-18916	165	15	the	the	DET
fbem-18916	165	16	ged	ged	ADJ
fbem-18916	165	17	distribution	distribution	NOUN
fbem-18916	165	18	.	.	PUNCT
fbem-18916	166	1	4	4	X
fbem-18916	166	2	.	.	X
fbem-18916	166	3	variable	variable	ADJ
fbem-18916	166	4	selection	selection	NOUN
fbem-18916	166	5	and	and	CCONJ
fbem-18916	166	6	data	datum	NOUN
fbem-18916	166	7	description	description	NOUN
fbem-18916	166	8	4.1	4.1	NUM
fbem-18916	166	9	.	.	PUNCT
fbem-18916	167	1	variable	variable	ADJ
fbem-18916	167	2	selection	selection	NOUN
fbem-18916	167	3	this	this	DET
fbem-18916	167	4	paper	paper	NOUN
fbem-18916	167	5	conducts	conduct	VERB
fbem-18916	167	6	an	an	DET
fbem-18916	167	7	empirical	empirical	ADJ
fbem-18916	167	8	study	study	NOUN
fbem-18916	167	9	on	on	ADP
fbem-18916	167	10	the	the	DET
fbem-18916	167	11	historical	historical	ADJ
fbem-18916	167	12	weekly	weekly	ADJ
fbem-18916	167	13	returns	return	NOUN
fbem-18916	167	14	of	of	ADP
fbem-18916	167	15	five	five	NUM
fbem-18916	167	16	major	major	ADJ
fbem-18916	167	17	stock	stock	NOUN
fbem-18916	167	18	indices	index	NOUN
fbem-18916	167	19	from	from	ADP
fbem-18916	167	20	july	july	PROPN
fbem-18916	167	21	2	2	NUM
fbem-18916	167	22	,	,	PUNCT
fbem-18916	167	23	2017	2017	NUM
fbem-18916	167	24	,	,	PUNCT
fbem-18916	167	25	to	to	ADP
fbem-18916	167	26	december	december	PROPN
fbem-18916	167	27	26	26	NUM
fbem-18916	167	28	,	,	PUNCT
fbem-18916	167	29	2021	2021	NUM
fbem-18916	167	30	.	.	PUNCT
fbem-18916	168	1	the	the	DET
fbem-18916	168	2	selection	selection	NOUN
fbem-18916	168	3	of	of	ADP
fbem-18916	168	4	this	this	DET
fbem-18916	168	5	period	period	NOUN
fbem-18916	168	6	's	's	PART
fbem-18916	168	7	data	datum	NOUN
fbem-18916	168	8	is	be	AUX
fbem-18916	168	9	based	base	VERB
fbem-18916	168	10	on	on	ADP
fbem-18916	168	11	several	several	ADJ
fbem-18916	168	12	considerations	consideration	NOUN
fbem-18916	168	13	:	:	PUNCT
fbem-18916	168	14	firstly	firstly	ADV
fbem-18916	168	15	,	,	PUNCT
fbem-18916	168	16	it	it	PRON
fbem-18916	168	17	spans	span	VERB
fbem-18916	168	18	five	five	NUM
fbem-18916	168	19	years	year	NOUN
fbem-18916	168	20	,	,	PUNCT
fbem-18916	168	21	providing	provide	VERB
fbem-18916	168	22	timely	timely	ADJ
fbem-18916	168	23	market	market	NOUN
fbem-18916	168	24	information	information	NOUN
fbem-18916	168	25	.	.	PUNCT
fbem-18916	169	1	secondly	secondly	ADV
fbem-18916	169	2	,	,	PUNCT
fbem-18916	169	3	this	this	DET
fbem-18916	169	4	period	period	NOUN
fbem-18916	169	5	witnessed	witness	VERB
fbem-18916	169	6	significant	significant	ADJ
fbem-18916	169	7	fluctuations	fluctuation	NOUN
fbem-18916	169	8	in	in	ADP
fbem-18916	169	9	the	the	DET
fbem-18916	169	10	digital	digital	ADJ
fbem-18916	169	11	asset	asset	NOUN
fbem-18916	169	12	market	market	NOUN
fbem-18916	169	13	,	,	PUNCT
fbem-18916	169	14	302	302	NUM
fbem-18916	169	15	making	make	VERB
fbem-18916	169	16	it	it	PRON
fbem-18916	169	17	suitable	suitable	ADJ
fbem-18916	169	18	for	for	ADP
fbem-18916	169	19	studying	study	VERB
fbem-18916	169	20	digital	digital	ADJ
fbem-18916	169	21	asset	asset	NOUN
fbem-18916	169	22	allocation	allocation	NOUN
fbem-18916	169	23	under	under	ADP
fbem-18916	169	24	various	various	ADJ
fbem-18916	169	25	market	market	NOUN
fbem-18916	169	26	conditions	condition	NOUN
fbem-18916	169	27	.	.	PUNCT
fbem-18916	170	1	additionally	additionally	ADV
fbem-18916	170	2	,	,	PUNCT
fbem-18916	170	3	due	due	ADP
fbem-18916	170	4	to	to	ADP
fbem-18916	170	5	different	different	ADJ
fbem-18916	170	6	trading	trading	NOUN
fbem-18916	170	7	hours	hour	NOUN
fbem-18916	170	8	in	in	ADP
fbem-18916	170	9	various	various	ADJ
fbem-18916	170	10	markets	market	NOUN
fbem-18916	170	11	,	,	PUNCT
fbem-18916	170	12	weekly	weekly	ADJ
fbem-18916	170	13	data	datum	NOUN
fbem-18916	170	14	from	from	ADP
fbem-18916	170	15	the	the	DET
fbem-18916	170	16	same	same	ADJ
fbem-18916	170	17	period	period	NOUN
fbem-18916	170	18	is	be	AUX
fbem-18916	170	19	uniformly	uniformly	ADV
fbem-18916	170	20	adopted	adopt	VERB
fbem-18916	170	21	for	for	ADP
fbem-18916	170	22	ease	ease	NOUN
fbem-18916	170	23	of	of	ADP
fbem-18916	170	24	statistical	statistical	ADJ
fbem-18916	170	25	analysis	analysis	NOUN
fbem-18916	170	26	[	[	X
fbem-18916	170	27	20	20	NUM
fbem-18916	170	28	]	]	PUNCT
fbem-18916	170	29	.	.	PUNCT
fbem-18916	171	1	finally	finally	ADV
fbem-18916	171	2	,	,	PUNCT
fbem-18916	171	3	five	five	NUM
fbem-18916	171	4	variables	variable	NOUN
fbem-18916	171	5	are	be	AUX
fbem-18916	171	6	derived	derive	VERB
fbem-18916	171	7	,	,	PUNCT
fbem-18916	171	8	representing	represent	VERB
fbem-18916	171	9	235	235	NUM
fbem-18916	171	10	weeks	week	NOUN
fbem-18916	171	11	of	of	ADP
fbem-18916	171	12	returns	return	NOUN
fbem-18916	171	13	.	.	PUNCT
fbem-18916	172	1	these	these	DET
fbem-18916	172	2	five	five	NUM
fbem-18916	172	3	indices	index	NOUN
fbem-18916	172	4	include	include	VERB
fbem-18916	172	5	bitcoin	bitcoin	PROPN
fbem-18916	172	6	,	,	PUNCT
fbem-18916	172	7	shanghai	shanghai	PROPN
fbem-18916	172	8	stock	stock	PROPN
fbem-18916	172	9	exchange	exchange	PROPN
fbem-18916	172	10	index	index	PROPN
fbem-18916	172	11	,	,	PUNCT
fbem-18916	172	12	sse	sse	PROPN
fbem-18916	172	13	corporate	corporate	ADJ
fbem-18916	172	14	bond	bond	NOUN
fbem-18916	172	15	index	index	NOUN
fbem-18916	172	16	,	,	PUNCT
fbem-18916	172	17	shenzhen	shenzhen	PROPN
fbem-18916	172	18	bulk	bulk	PROPN
fbem-18916	172	19	commodity	commodity	NOUN
fbem-18916	172	20	index	index	NOUN
fbem-18916	172	21	,	,	PUNCT
fbem-18916	172	22	and	and	CCONJ
fbem-18916	172	23	gold	gold	NOUN
fbem-18916	172	24	futures	future	NOUN
fbem-18916	172	25	.	.	PUNCT
fbem-18916	173	1	bitcoin	bitcoin	PROPN
fbem-18916	173	2	is	be	AUX
fbem-18916	173	3	currently	currently	ADV
fbem-18916	173	4	the	the	DET
fbem-18916	173	5	most	most	ADV
fbem-18916	173	6	popular	popular	ADJ
fbem-18916	173	7	digital	digital	ADJ
fbem-18916	173	8	cryptocurrency	cryptocurrency	NOUN
fbem-18916	173	9	and	and	CCONJ
fbem-18916	173	10	digital	digital	ADJ
fbem-18916	173	11	asset	asset	NOUN
fbem-18916	173	12	.	.	PUNCT
fbem-18916	174	1	the	the	DET
fbem-18916	174	2	shanghai	shanghai	PROPN
fbem-18916	174	3	stock	stock	PROPN
fbem-18916	174	4	exchange	exchange	PROPN
fbem-18916	174	5	index	index	PROPN
fbem-18916	174	6	,	,	PUNCT
fbem-18916	174	7	sse	sse	PROPN
fbem-18916	174	8	corporate	corporate	ADJ
fbem-18916	174	9	bond	bond	NOUN
fbem-18916	174	10	index	index	NOUN
fbem-18916	174	11	,	,	PUNCT
fbem-18916	174	12	gold	gold	NOUN
fbem-18916	174	13	index	index	NOUN
fbem-18916	174	14	,	,	PUNCT
fbem-18916	174	15	and	and	CCONJ
fbem-18916	174	16	shenzhen	shenzhen	PROPN
fbem-18916	174	17	bulk	bulk	PROPN
fbem-18916	174	18	commodity	commodity	NOUN
fbem-18916	174	19	index	index	NOUN
fbem-18916	174	20	represent	represent	VERB
fbem-18916	174	21	the	the	DET
fbem-18916	174	22	stock	stock	NOUN
fbem-18916	174	23	market	market	NOUN
fbem-18916	174	24	,	,	PUNCT
fbem-18916	174	25	bond	bond	NOUN
fbem-18916	174	26	market	market	NOUN
fbem-18916	174	27	,	,	PUNCT
fbem-18916	174	28	commodity	commodity	NOUN
fbem-18916	174	29	market	market	NOUN
fbem-18916	174	30	,	,	PUNCT
fbem-18916	174	31	respectively	respectively	ADV
fbem-18916	174	32	.	.	PUNCT
fbem-18916	175	1	when	when	SCONJ
fbem-18916	175	2	the	the	DET
fbem-18916	175	3	risk	risk	NOUN
fbem-18916	175	4	-	-	PUNCT
fbem-18916	175	5	return	return	NOUN
fbem-18916	175	6	ratio	ratio	NOUN
fbem-18916	175	7	of	of	ADP
fbem-18916	175	8	a	a	DET
fbem-18916	175	9	portfolio	portfolio	NOUN
fbem-18916	175	10	increases	increase	NOUN
fbem-18916	175	11	,	,	PUNCT
fbem-18916	175	12	it	it	PRON
fbem-18916	175	13	serves	serve	VERB
fbem-18916	175	14	as	as	ADP
fbem-18916	175	15	a	a	DET
fbem-18916	175	16	risk	risk	NOUN
fbem-18916	175	17	distribution	distribution	NOUN
fbem-18916	175	18	tool	tool	NOUN
fbem-18916	175	19	;	;	PUNCT
fbem-18916	175	20	otherwise	otherwise	ADV
fbem-18916	175	21	,	,	PUNCT
fbem-18916	175	22	it	it	PRON
fbem-18916	175	23	does	do	AUX
fbem-18916	175	24	not	not	PART
fbem-18916	175	25	have	have	VERB
fbem-18916	175	26	a	a	DET
fbem-18916	175	27	risk	risk	NOUN
fbem-18916	175	28	distribution	distribution	NOUN
fbem-18916	175	29	function	function	NOUN
fbem-18916	175	30	.	.	PUNCT
fbem-18916	176	1	the	the	DET
fbem-18916	176	2	table	table	NOUN
fbem-18916	176	3	below	below	ADV
fbem-18916	176	4	shows	show	VERB
fbem-18916	176	5	the	the	DET
fbem-18916	176	6	names	name	NOUN
fbem-18916	176	7	and	and	CCONJ
fbem-18916	176	8	symbols	symbol	NOUN
fbem-18916	176	9	of	of	ADP
fbem-18916	176	10	the	the	DET
fbem-18916	176	11	variables	variable	NOUN
fbem-18916	176	12	.	.	PUNCT
fbem-18916	177	1	variable	variable	ADJ
fbem-18916	177	2	name	name	NOUN
fbem-18916	177	3	and	and	CCONJ
fbem-18916	177	4	symbol	symbol	NOUN
fbem-18916	177	5	variable	variable	ADJ
fbem-18916	177	6	name	name	NOUN
fbem-18916	177	7	variable	variable	ADJ
fbem-18916	177	8	symbol	symbol	NOUN
fbem-18916	177	9	bitcoin	bitcoin	PROPN
fbem-18916	177	10	btc	btc	PROPN
fbem-18916	177	11	shanghai	shanghai	PROPN
fbem-18916	177	12	stock	stock	PROPN
fbem-18916	177	13	exchange	exchange	PROPN
fbem-18916	177	14	index	index	NOUN
fbem-18916	177	15	ssec	ssec	ADJ
fbem-18916	177	16	sse	sse	NOUN
fbem-18916	177	17	corporate	corporate	ADJ
fbem-18916	177	18	bond	bond	NOUN
fbem-18916	177	19	index	index	NOUN
fbem-18916	177	20	sseebi	sseebi	NOUN
fbem-18916	178	1	shenzhen	shenzhen	PROPN
fbem-18916	178	2	bulk	bulk	PROPN
fbem-18916	178	3	commodity	commodity	PROPN
fbem-18916	178	4	index	index	NOUN
fbem-18916	178	5	szcpi	szcpi	NOUN
fbem-18916	178	6	gold	gold	NOUN
fbem-18916	178	7	futures	future	NOUN
fbem-18916	178	8	zgm2	zgm2	PROPN
fbem-18916	178	9	4.2	4.2	NUM
fbem-18916	178	10	.	.	PUNCT
fbem-18916	179	1	data	datum	NOUN
fbem-18916	179	2	description	description	NOUN
fbem-18916	179	3	4.2.1	4.2.1	NUM
fbem-18916	179	4	.	.	PUNCT
fbem-18916	180	1	data	datum	NOUN
fbem-18916	180	2	source	source	VERB
fbem-18916	180	3	the	the	DET
fbem-18916	180	4	historical	historical	ADJ
fbem-18916	180	5	weekly	weekly	ADJ
fbem-18916	180	6	returns	return	NOUN
fbem-18916	180	7	data	datum	NOUN
fbem-18916	180	8	for	for	ADP
fbem-18916	180	9	bitcoin	bitcoin	NOUN
fbem-18916	180	10	,	,	PUNCT
fbem-18916	180	11	shanghai	shanghai	PROPN
fbem-18916	180	12	stock	stock	PROPN
fbem-18916	180	13	exchange	exchange	PROPN
fbem-18916	180	14	index	index	PROPN
fbem-18916	180	15	,	,	PUNCT
fbem-18916	180	16	sse	sse	PROPN
fbem-18916	180	17	corporate	corporate	ADJ
fbem-18916	180	18	bond	bond	NOUN
fbem-18916	180	19	index	index	NOUN
fbem-18916	180	20	,	,	PUNCT
fbem-18916	180	21	shenzhen	shenzhen	PROPN
fbem-18916	180	22	bulk	bulk	PROPN
fbem-18916	180	23	commodity	commodity	NOUN
fbem-18916	180	24	index	index	NOUN
fbem-18916	180	25	,	,	PUNCT
fbem-18916	180	26	and	and	CCONJ
fbem-18916	180	27	gold	gold	NOUN
fbem-18916	180	28	futures	future	NOUN
fbem-18916	180	29	from	from	ADP
fbem-18916	180	30	july	july	PROPN
fbem-18916	180	31	2	2	NUM
fbem-18916	180	32	,	,	PUNCT
fbem-18916	180	33	2017	2017	NUM
fbem-18916	180	34	,	,	PUNCT
fbem-18916	180	35	to	to	ADP
fbem-18916	180	36	december	december	PROPN
fbem-18916	180	37	26	26	NUM
fbem-18916	180	38	,	,	PUNCT
fbem-18916	180	39	2021	2021	NUM
fbem-18916	180	40	,	,	PUNCT
fbem-18916	180	41	is	be	AUX
fbem-18916	180	42	sourced	source	VERB
fbem-18916	180	43	from	from	ADP
fbem-18916	180	44	cn.investing.com	cn.investing.com	PROPN
fbem-18916	180	45	.	.	PUNCT
fbem-18916	181	1	the	the	DET
fbem-18916	181	2	dataset	dataset	NOUN
fbem-18916	181	3	includes	include	VERB
fbem-18916	181	4	235	235	NUM
fbem-18916	181	5	weeks	week	NOUN
fbem-18916	181	6	of	of	ADP
fbem-18916	181	7	returns	return	NOUN
fbem-18916	181	8	,	,	PUNCT
fbem-18916	181	9	excluding	exclude	VERB
fbem-18916	181	10	weekend	weekend	NOUN
fbem-18916	181	11	data	datum	NOUN
fbem-18916	181	12	for	for	ADP
fbem-18916	181	13	all	all	DET
fbem-18916	181	14	indices	index	NOUN
fbem-18916	181	15	except	except	SCONJ
fbem-18916	181	16	bitcoin	bitcoin	NOUN
fbem-18916	181	17	[	[	X
fbem-18916	181	18	21	21	NUM
fbem-18916	181	19	]	]	PUNCT
fbem-18916	181	20	.	.	PUNCT
fbem-18916	182	1	4.2.2	4.2.2	X
fbem-18916	182	2	.	.	PUNCT
fbem-18916	182	3	descriptive	descriptive	ADJ
fbem-18916	182	4	analysis	analysis	NOUN
fbem-18916	182	5	variable	variable	ADJ
fbem-18916	182	6	mean	mean	PROPN
fbem-18916	182	7	max	max	PROPN
fbem-18916	182	8	min	min	PROPN
fbem-18916	182	9	std	std	PROPN
fbem-18916	182	10	.	.	PROPN
fbem-18916	183	1	skewness	skewness	PROPN
fbem-18916	183	2	kurtosis	kurtosis	VERB
fbem-18916	183	3	j	j	PROPN
fbem-18916	183	4	-	-	PUNCT
fbem-18916	183	5	b	b	PROPN
fbem-18916	183	6	statistic	statistic	ADJ
fbem-18916	183	7	p	p	NOUN
fbem-18916	183	8	-	-	PUNCT
fbem-18916	183	9	value	value	NOUN
fbem-18916	183	10	btc	btc	NOUN
fbem-18916	183	11	2.0022	2.0022	NUM
fbem-18916	183	12	%	%	NOUN
fbem-18916	183	13	43.6200	43.6200	NUM
fbem-18916	183	14	%	%	NOUN
fbem-18916	183	15	-41.6900	-41.6900	NOUN
fbem-18916	183	16	%	%	NOUN
fbem-18916	183	17	0.121549	0.121549	NUM
fbem-18916	183	18	0.248988	0.248988	NUM
fbem-18916	183	19	4.089466	4.089466	NUM
fbem-18916	183	20	14.05022	14.05022	NUM
fbem-18916	183	21	0.000889	0.000889	NUM
fbem-18916	183	22	ssec	ssec	ADJ
fbem-18916	183	23	0.0843	0.0843	NUM
fbem-18916	183	24	%	%	NOUN
fbem-18916	183	25	7.3100	7.3100	NUM
fbem-18916	183	26	%	%	NOUN
fbem-18916	183	27	-9.6000	-9.6000	ADJ
fbem-18916	183	28	%	%	NOUN
fbem-18916	183	29	0.023586	0.023586	NUM
fbem-18916	183	30	-0.412568	-0.412568	NOUN
fbem-18916	183	31	4.471364	4.471364	NUM
fbem-18916	183	32	27.50903	27.50903	NUM
fbem-18916	183	33	0.000001	0.000001	NUM
fbem-18916	183	34	sseebi	sseebi	NOUN
fbem-18916	183	35	0.0862	0.0862	NUM
fbem-18916	183	36	%	%	NOUN
fbem-18916	183	37	2.6000	2.6000	NUM
fbem-18916	183	38	%	%	NOUN
fbem-18916	183	39	-0.1500	-0.1500	NOUN
fbem-18916	183	40	%	%	NOUN
fbem-18916	183	41	0.000540	0.000540	NUM
fbem-18916	183	42	-0.046932	-0.046932	NUM
fbem-18916	183	43	5.036241	5.036241	NUM
fbem-18916	183	44	40.16585	40.16585	NUM
fbem-18916	183	45	0.000000	0.000000	NUM
fbem-18916	183	46	szcpi	szcpi	NOUN
fbem-18916	183	47	0.1254	0.1254	NUM
fbem-18916	183	48	%	%	NOUN
fbem-18916	183	49	20.5500	20.5500	NUM
fbem-18916	183	50	%	%	NOUN
fbem-18916	183	51	-11.2200	-11.2200	NUM
fbem-18916	183	52	%	%	NOUN
fbem-18916	184	1	0.033306	0.033306	NUM
fbem-18916	184	2	0.016172	0.016172	NUM
fbem-18916	184	3	3.534951	3.534951	NUM
fbem-18916	184	4	2.764477	2.764477	NUM
fbem-18916	184	5	0.251016	0.251016	NUM
fbem-18916	184	6	zgm2	zgm2	NOUN
fbem-18916	184	7	0.1605	0.1605	NUM
fbem-18916	184	8	%	%	NOUN
fbem-18916	185	1	10.6300	10.6300	NUM
fbem-18916	185	2	%	%	NOUN
fbem-18916	185	3	-9.4200	-9.4200	NOUN
fbem-18916	185	4	%	%	NOUN
fbem-18916	185	5	0.019892	0.019892	NUM
fbem-18916	185	6	0.085375	0.085375	NUM
fbem-18916	185	7	8.452739	8.452739	NUM
fbem-18916	185	8	291.4148	291.4148	NUM
fbem-18916	185	9	0.000000	0.000000	NUM
fbem-18916	185	10	note	note	NOUN
fbem-18916	185	11	:	:	PUNCT
fbem-18916	185	12	mean	mean	ADJ
fbem-18916	185	13	,	,	PUNCT
fbem-18916	185	14	maximum	maximum	ADJ
fbem-18916	185	15	value	value	NOUN
fbem-18916	185	16	,	,	PUNCT
fbem-18916	185	17	minimum	minimum	ADJ
fbem-18916	185	18	value	value	NOUN
fbem-18916	185	19	are	be	AUX
fbem-18916	185	20	presented	present	VERB
fbem-18916	185	21	in	in	ADP
fbem-18916	185	22	percentage	percentage	NOUN
fbem-18916	185	23	format	format	NOUN
fbem-18916	185	24	with	with	ADP
fbem-18916	185	25	four	four	NUM
fbem-18916	185	26	decimal	decimal	ADJ
fbem-18916	185	27	places	place	NOUN
fbem-18916	185	28	,	,	PUNCT
fbem-18916	185	29	while	while	SCONJ
fbem-18916	185	30	standard	standard	ADJ
fbem-18916	185	31	deviation	deviation	NOUN
fbem-18916	185	32	,	,	PUNCT
fbem-18916	185	33	kurtosis	kurtosis	NOUN
fbem-18916	185	34	,	,	PUNCT
fbem-18916	185	35	skewness	skewness	NOUN
fbem-18916	185	36	,	,	PUNCT
fbem-18916	185	37	j	j	PROPN
fbem-18916	185	38	-	-	PUNCT
fbem-18916	185	39	b	b	PROPN
fbem-18916	185	40	statistic	statistic	NOUN
fbem-18916	185	41	,	,	PUNCT
fbem-18916	185	42	and	and	CCONJ
fbem-18916	185	43	p	p	X
fbem-18916	185	44	-	-	PUNCT
fbem-18916	185	45	value	value	NOUN
fbem-18916	185	46	are	be	AUX
fbem-18916	185	47	presented	present	VERB
fbem-18916	185	48	with	with	ADP
fbem-18916	185	49	six	six	NUM
fbem-18916	185	50	decimal	decimal	ADJ
fbem-18916	185	51	places	place	NOUN
fbem-18916	185	52	.	.	PUNCT
fbem-18916	186	1	btc	btc	VERB
fbem-18916	186	2	ssec	ssec	ADJ
fbem-18916	186	3	sseebi	sseebi	PROPN
fbem-18916	186	4	szcpi	szcpi	NOUN
fbem-18916	186	5	zgm2	zgm2	PROPN
fbem-18916	186	6	303	303	NUM
fbem-18916	186	7	from	from	ADP
fbem-18916	186	8	the	the	DET
fbem-18916	186	9	table	table	NOUN
fbem-18916	186	10	,	,	PUNCT
fbem-18916	186	11	it	it	PRON
fbem-18916	186	12	can	can	AUX
fbem-18916	186	13	be	be	AUX
fbem-18916	186	14	observed	observe	VERB
fbem-18916	186	15	that	that	SCONJ
fbem-18916	186	16	during	during	ADP
fbem-18916	186	17	the	the	DET
fbem-18916	186	18	period	period	NOUN
fbem-18916	186	19	from	from	ADP
fbem-18916	186	20	july	july	PROPN
fbem-18916	186	21	2	2	NUM
fbem-18916	186	22	,	,	PUNCT
fbem-18916	186	23	2017	2017	NUM
fbem-18916	186	24	,	,	PUNCT
fbem-18916	186	25	to	to	ADP
fbem-18916	186	26	december	december	PROPN
fbem-18916	186	27	26	26	NUM
fbem-18916	186	28	,	,	PUNCT
fbem-18916	186	29	2021	2021	NUM
fbem-18916	186	30	,	,	PUNCT
fbem-18916	186	31	the	the	DET
fbem-18916	186	32	highest	high	ADJ
fbem-18916	186	33	weekly	weekly	ADJ
fbem-18916	186	34	return	return	NOUN
fbem-18916	186	35	rate	rate	NOUN
fbem-18916	186	36	among	among	ADP
fbem-18916	186	37	these	these	DET
fbem-18916	186	38	two	two	NUM
fbem-18916	186	39	variables	variable	NOUN
fbem-18916	186	40	is	be	AUX
fbem-18916	186	41	for	for	ADP
fbem-18916	186	42	bitcoin	bitcoin	NOUN
fbem-18916	186	43	,	,	PUNCT
fbem-18916	186	44	at	at	ADP
fbem-18916	186	45	2.0022	2.0022	NUM
fbem-18916	186	46	%	%	NOUN
fbem-18916	186	47	,	,	PUNCT
fbem-18916	186	48	while	while	SCONJ
fbem-18916	186	49	for	for	ADP
fbem-18916	186	50	the	the	DET
fbem-18916	186	51	shanghai	shanghai	PROPN
fbem-18916	186	52	stock	stock	PROPN
fbem-18916	186	53	exchange	exchange	PROPN
fbem-18916	186	54	index	index	NOUN
fbem-18916	186	55	,	,	PUNCT
fbem-18916	186	56	it	it	PRON
fbem-18916	186	57	is	be	AUX
fbem-18916	186	58	0.0843	0.0843	NUM
fbem-18916	186	59	%	%	NOUN
fbem-18916	186	60	.	.	PUNCT
fbem-18916	187	1	all	all	DET
fbem-18916	187	2	assets	asset	NOUN
fbem-18916	187	3	have	have	VERB
fbem-18916	187	4	positive	positive	ADJ
fbem-18916	187	5	average	average	ADJ
fbem-18916	187	6	return	return	NOUN
fbem-18916	187	7	rates	rate	NOUN
fbem-18916	187	8	.	.	PUNCT
fbem-18916	188	1	looking	look	VERB
fbem-18916	188	2	at	at	ADP
fbem-18916	188	3	historical	historical	ADJ
fbem-18916	188	4	data	datum	NOUN
fbem-18916	188	5	,	,	PUNCT
fbem-18916	188	6	the	the	DET
fbem-18916	188	7	price	price	NOUN
fbem-18916	188	8	of	of	ADP
fbem-18916	188	9	cryptocurrency	cryptocurrency	NOUN
fbem-18916	188	10	has	have	AUX
fbem-18916	188	11	experienced	experience	VERB
fbem-18916	188	12	several	several	ADJ
fbem-18916	188	13	significant	significant	ADJ
fbem-18916	188	14	fluctuations	fluctuation	NOUN
fbem-18916	188	15	[	[	X
fbem-18916	188	16	22	22	NUM
fbem-18916	188	17	]	]	PUNCT
fbem-18916	188	18	.	.	PUNCT
fbem-18916	189	1	for	for	ADP
fbem-18916	189	2	instance	instance	NOUN
fbem-18916	189	3	,	,	PUNCT
fbem-18916	189	4	on	on	ADP
fbem-18916	189	5	july	july	PROPN
fbem-18916	189	6	16	16	NUM
fbem-18916	189	7	,	,	PUNCT
fbem-18916	189	8	2017	2017	NUM
fbem-18916	189	9	,	,	PUNCT
fbem-18916	189	10	its	its	PRON
fbem-18916	189	11	price	price	NOUN
fbem-18916	189	12	surged	surge	VERB
fbem-18916	189	13	by	by	ADP
fbem-18916	189	14	43.62	43.62	NUM
fbem-18916	189	15	%	%	NOUN
fbem-18916	189	16	,	,	PUNCT
fbem-18916	189	17	while	while	SCONJ
fbem-18916	189	18	by	by	ADP
fbem-18916	189	19	2020	2020	NUM
fbem-18916	189	20	,	,	PUNCT
fbem-18916	189	21	it	it	PRON
fbem-18916	189	22	had	have	AUX
fbem-18916	189	23	dropped	drop	VERB
fbem-18916	189	24	by	by	ADP
fbem-18916	189	25	41.69	41.69	NUM
fbem-18916	189	26	%	%	NOUN
fbem-18916	189	27	.	.	PUNCT
fbem-18916	190	1	in	in	ADP
fbem-18916	190	2	terms	term	NOUN
fbem-18916	190	3	of	of	ADP
fbem-18916	190	4	volatility	volatility	NOUN
fbem-18916	190	5	,	,	PUNCT
fbem-18916	190	6	bitcoin	bitcoin	NOUN
fbem-18916	190	7	exhibits	exhibit	VERB
fbem-18916	190	8	the	the	DET
fbem-18916	190	9	highest	high	ADJ
fbem-18916	190	10	volatility	volatility	NOUN
fbem-18916	190	11	,	,	PUNCT
fbem-18916	190	12	indicating	indicate	VERB
fbem-18916	190	13	significant	significant	ADJ
fbem-18916	190	14	fluctuations	fluctuation	NOUN
fbem-18916	190	15	in	in	ADP
fbem-18916	190	16	its	its	PRON
fbem-18916	190	17	returns	return	NOUN
fbem-18916	190	18	,	,	PUNCT
fbem-18916	190	19	which	which	PRON
fbem-18916	190	20	is	be	AUX
fbem-18916	190	21	consistent	consistent	ADJ
fbem-18916	190	22	with	with	ADP
fbem-18916	190	23	reality	reality	NOUN
fbem-18916	190	24	.	.	PUNCT
fbem-18916	191	1	many	many	ADJ
fbem-18916	191	2	people	people	NOUN
fbem-18916	191	3	have	have	VERB
fbem-18916	191	4	limited	limit	VERB
fbem-18916	191	5	knowledge	knowledge	NOUN
fbem-18916	191	6	of	of	ADP
fbem-18916	191	7	digital	digital	ADJ
fbem-18916	191	8	assets	asset	NOUN
fbem-18916	191	9	,	,	PUNCT
fbem-18916	191	10	making	make	VERB
fbem-18916	191	11	it	it	PRON
fbem-18916	191	12	difficult	difficult	ADJ
fbem-18916	191	13	to	to	PART
fbem-18916	191	14	decide	decide	VERB
fbem-18916	191	15	on	on	ADP
fbem-18916	191	16	the	the	DET
fbem-18916	191	17	quantity	quantity	NOUN
fbem-18916	191	18	to	to	PART
fbem-18916	191	19	purchase	purchase	VERB
fbem-18916	191	20	and	and	CCONJ
fbem-18916	191	21	how	how	SCONJ
fbem-18916	191	22	to	to	PART
fbem-18916	191	23	select	select	VERB
fbem-18916	191	24	high	high	ADJ
fbem-18916	191	25	-	-	PUNCT
fbem-18916	191	26	quality	quality	NOUN
fbem-18916	191	27	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	191	28	.	.	PUNCT
fbem-18916	192	1	for	for	ADP
fbem-18916	192	2	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	192	3	like	like	ADP
fbem-18916	192	4	bitcoin	bitcoin	NOUN
fbem-18916	192	5	,	,	PUNCT
fbem-18916	192	6	short	short	ADJ
fbem-18916	192	7	-	-	PUNCT
fbem-18916	192	8	term	term	NOUN
fbem-18916	192	9	fluctuations	fluctuation	NOUN
fbem-18916	192	10	,	,	PUNCT
fbem-18916	192	11	both	both	CCONJ
fbem-18916	192	12	upward	upward	ADJ
fbem-18916	192	13	and	and	CCONJ
fbem-18916	192	14	downward	downward	ADJ
fbem-18916	192	15	,	,	PUNCT
fbem-18916	192	16	are	be	AUX
fbem-18916	192	17	substantial	substantial	ADJ
fbem-18916	192	18	.	.	PUNCT
fbem-18916	193	1	moreover	moreover	ADV
fbem-18916	193	2	,	,	PUNCT
fbem-18916	193	3	trading	trading	NOUN
fbem-18916	193	4	can	can	AUX
fbem-18916	193	5	be	be	AUX
fbem-18916	193	6	conducted	conduct	VERB
fbem-18916	193	7	at	at	ADP
fbem-18916	193	8	any	any	DET
fbem-18916	193	9	time	time	NOUN
fbem-18916	193	10	,	,	PUNCT
fbem-18916	193	11	and	and	CCONJ
fbem-18916	193	12	the	the	DET
fbem-18916	193	13	threshold	threshold	NOUN
fbem-18916	193	14	for	for	ADP
fbem-18916	193	15	investors	investor	NOUN
fbem-18916	193	16	is	be	AUX
fbem-18916	193	17	low	low	ADJ
fbem-18916	193	18	.	.	PUNCT
fbem-18916	194	1	many	many	ADJ
fbem-18916	194	2	view	view	VERB
fbem-18916	194	3	this	this	PRON
fbem-18916	194	4	as	as	ADP
fbem-18916	194	5	a	a	DET
fbem-18916	194	6	short	short	ADJ
fbem-18916	194	7	-	-	PUNCT
fbem-18916	194	8	term	term	NOUN
fbem-18916	194	9	,	,	PUNCT
fbem-18916	194	10	speculative	speculative	ADJ
fbem-18916	194	11	asset	asset	NOUN
fbem-18916	194	12	.	.	PUNCT
fbem-18916	195	1	from	from	ADP
fbem-18916	195	2	the	the	DET
fbem-18916	195	3	figures	figure	NOUN
fbem-18916	195	4	,	,	PUNCT
fbem-18916	195	5	it	it	PRON
fbem-18916	195	6	can	can	AUX
fbem-18916	195	7	be	be	AUX
fbem-18916	195	8	seen	see	VERB
fbem-18916	195	9	that	that	SCONJ
fbem-18916	195	10	the	the	DET
fbem-18916	195	11	logarithmic	logarithmic	ADJ
fbem-18916	195	12	return	return	NOUN
fbem-18916	195	13	distribution	distribution	NOUN
fbem-18916	195	14	of	of	ADP
fbem-18916	195	15	the	the	DET
fbem-18916	195	16	shanghai	shanghai	PROPN
fbem-18916	195	17	stock	stock	PROPN
fbem-18916	195	18	exchange	exchange	PROPN
fbem-18916	195	19	index	index	NOUN
fbem-18916	195	20	and	and	CCONJ
fbem-18916	195	21	the	the	DET
fbem-18916	195	22	sse	sse	PROPN
fbem-18916	195	23	corporate	corporate	ADJ
fbem-18916	195	24	bond	bond	NOUN
fbem-18916	195	25	index	index	NOUN
fbem-18916	195	26	is	be	AUX
fbem-18916	195	27	left	leave	VERB
fbem-18916	195	28	-	-	PUNCT
fbem-18916	195	29	skewed	skewed	ADJ
fbem-18916	195	30	,	,	PUNCT
fbem-18916	195	31	while	while	SCONJ
fbem-18916	195	32	the	the	DET
fbem-18916	195	33	skewness	skewness	NOUN
fbem-18916	195	34	of	of	ADP
fbem-18916	195	35	the	the	DET
fbem-18916	195	36	other	other	ADJ
fbem-18916	195	37	three	three	NUM
fbem-18916	195	38	indicators	indicator	NOUN
fbem-18916	195	39	is	be	AUX
fbem-18916	195	40	above	above	ADP
fbem-18916	195	41	0	0	NUM
fbem-18916	195	42	,	,	PUNCT
fbem-18916	195	43	indicating	indicate	VERB
fbem-18916	195	44	right	right	ADJ
fbem-18916	195	45	-	-	PUNCT
fbem-18916	195	46	skewed	skewed	ADJ
fbem-18916	195	47	return	return	NOUN
fbem-18916	195	48	distributions	distribution	NOUN
fbem-18916	195	49	[	[	X
fbem-18916	195	50	23	23	NUM
fbem-18916	195	51	]	]	PUNCT
fbem-18916	195	52	.	.	PUNCT
fbem-18916	196	1	in	in	ADP
fbem-18916	196	2	terms	term	NOUN
fbem-18916	196	3	of	of	ADP
fbem-18916	196	4	kurtosis	kurtosis	NOUN
fbem-18916	196	5	,	,	PUNCT
fbem-18916	196	6	except	except	SCONJ
fbem-18916	196	7	for	for	ADP
fbem-18916	196	8	the	the	DET
fbem-18916	196	9	shenzhen	shenzhen	PROPN
fbem-18916	196	10	bulk	bulk	PROPN
fbem-18916	196	11	commodity	commodity	PROPN
fbem-18916	196	12	index	index	NOUN
fbem-18916	196	13	,	,	PUNCT
fbem-18916	196	14	all	all	DET
fbem-18916	196	15	other	other	ADJ
fbem-18916	196	16	variables	variable	NOUN
fbem-18916	196	17	have	have	AUX
fbem-18916	196	18	kurtosis	kurtosis	VERB
fbem-18916	196	19	values	value	NOUN
fbem-18916	196	20	exceeding	exceed	VERB
fbem-18916	196	21	3	3	NUM
fbem-18916	196	22	,	,	PUNCT
fbem-18916	196	23	indicating	indicate	VERB
fbem-18916	196	24	leptokurtic	leptokurtic	ADJ
fbem-18916	196	25	tails	tail	NOUN
fbem-18916	196	26	.	.	PUNCT
fbem-18916	197	1	looking	look	VERB
fbem-18916	197	2	at	at	ADP
fbem-18916	197	3	the	the	DET
fbem-18916	197	4	jarque	jarque	NOUN
fbem-18916	197	5	-	-	PUNCT
fbem-18916	197	6	bera	bera	NOUN
fbem-18916	197	7	statistic	statistic	NOUN
fbem-18916	197	8	and	and	CCONJ
fbem-18916	197	9	pvalues	pvalue	NOUN
fbem-18916	197	10	,	,	PUNCT
fbem-18916	197	11	except	except	SCONJ
fbem-18916	197	12	for	for	ADP
fbem-18916	197	13	the	the	DET
fbem-18916	197	14	shenzhen	shenzhen	PROPN
fbem-18916	197	15	bulk	bulk	PROPN
fbem-18916	197	16	commodity	commodity	PROPN
fbem-18916	197	17	index	index	NOUN
fbem-18916	197	18	,	,	PUNCT
fbem-18916	197	19	all	all	DET
fbem-18916	197	20	variables	variable	NOUN
fbem-18916	197	21	are	be	AUX
fbem-18916	197	22	significant	significant	ADJ
fbem-18916	197	23	,	,	PUNCT
fbem-18916	197	24	rejecting	reject	VERB
fbem-18916	197	25	the	the	DET
fbem-18916	197	26	null	null	ADJ
fbem-18916	197	27	hypothesis	hypothesis	NOUN
fbem-18916	197	28	of	of	ADP
fbem-18916	197	29	conformity	conformity	NOUN
fbem-18916	197	30	to	to	ADP
fbem-18916	197	31	a	a	DET
fbem-18916	197	32	standard	standard	ADJ
fbem-18916	197	33	normal	normal	ADJ
fbem-18916	197	34	distribution	distribution	NOUN
fbem-18916	197	35	,	,	PUNCT
fbem-18916	197	36	thus	thus	ADV
fbem-18916	197	37	not	not	PART
fbem-18916	197	38	following	follow	VERB
fbem-18916	197	39	a	a	DET
fbem-18916	197	40	standard	standard	ADJ
fbem-18916	197	41	normal	normal	ADJ
fbem-18916	197	42	distribution	distribution	NOUN
fbem-18916	197	43	.	.	PUNCT
fbem-18916	198	1	5	5	X
fbem-18916	198	2	.	.	X
fbem-18916	198	3	empirical	empirical	ADJ
fbem-18916	198	4	results	result	NOUN
fbem-18916	198	5	analysis	analysis	NOUN
fbem-18916	198	6	5.1	5.1	NUM
fbem-18916	198	7	.	.	PUNCT
fbem-18916	199	1	risk	risk	NOUN
fbem-18916	199	2	measurement	measurement	NOUN
fbem-18916	199	3	analysis	analysis	NOUN
fbem-18916	199	4	5.1.1	5.1.1	NUM
fbem-18916	199	5	.	.	PUNCT
fbem-18916	200	1	stationarity	stationarity	NOUN
fbem-18916	200	2	analysis	analysis	NOUN
fbem-18916	200	3	the	the	DET
fbem-18916	200	4	augmented	augment	VERB
fbem-18916	200	5	dickey	dickey	NOUN
fbem-18916	200	6	-	-	PUNCT
fbem-18916	200	7	fuller	full	ADJ
fbem-18916	200	8	(	(	PUNCT
fbem-18916	200	9	adf	adf	NOUN
fbem-18916	200	10	)	)	PUNCT
fbem-18916	200	11	unit	unit	NOUN
fbem-18916	200	12	root	root	NOUN
fbem-18916	200	13	test	test	NOUN
fbem-18916	200	14	method	method	NOUN
fbem-18916	200	15	was	be	AUX
fbem-18916	200	16	employed	employ	VERB
fbem-18916	200	17	to	to	PART
fbem-18916	200	18	test	test	VERB
fbem-18916	200	19	the	the	DET
fbem-18916	200	20	stationarity	stationarity	NOUN
fbem-18916	200	21	of	of	ADP
fbem-18916	200	22	the	the	DET
fbem-18916	200	23	time	time	NOUN
fbem-18916	200	24	series	series	PROPN
fbem-18916	200	25	data	data	PROPN
fbem-18916	200	26	.	.	PUNCT
fbem-18916	201	1	the	the	DET
fbem-18916	201	2	test	test	NOUN
fbem-18916	201	3	results	result	NOUN
fbem-18916	201	4	are	be	AUX
fbem-18916	201	5	shown	show	VERB
fbem-18916	201	6	in	in	ADP
fbem-18916	201	7	table	table	NOUN
fbem-18916	201	8	5.1	5.1	NUM
fbem-18916	201	9	.	.	PUNCT
fbem-18916	202	1	adf	adf	PROPN
fbem-18916	202	2	unit	unit	NOUN
fbem-18916	202	3	root	root	PROPN
fbem-18916	202	4	test	test	NOUN
fbem-18916	202	5	results	result	NOUN
fbem-18916	202	6	for	for	ADP
fbem-18916	202	7	each	each	DET
fbem-18916	202	8	variable	variable	ADJ
fbem-18916	202	9	variable	variable	NOUN
fbem-18916	202	10	t	t	PROPN
fbem-18916	202	11	-	-	PUNCT
fbem-18916	202	12	statistic	statistic	NOUN
fbem-18916	202	13	p	p	NOUN
fbem-18916	202	14	-	-	PUNCT
fbem-18916	202	15	value	value	NOUN
fbem-18916	202	16	btc	btc	NOUN
fbem-18916	202	17	-15.29805	-15.29805	NUM
fbem-18916	202	18	0.0000	0.0000	NUM
fbem-18916	202	19	ssec	ssec	ADJ
fbem-18916	202	20	-16.49246	-16.49246	NUM
fbem-18916	202	21	0.0000	0.0000	NUM
fbem-18916	202	22	sseebi	sseebi	NOUN
fbem-18916	202	23	-6.184721	-6.184721	PROPN
fbem-18916	202	24	0.0000	0.0000	NUM
fbem-18916	202	25	szcpi	szcpi	NOUN
fbem-18916	202	26	-17.02380	-17.02380	NUM
fbem-18916	202	27	0.0000	0.0000	NUM
fbem-18916	202	28	zgm2	zgm2	NOUN
fbem-18916	202	29	-18.12789	-18.12789	PUNCT
fbem-18916	202	30	0.0000	0.0000	NUM
fbem-18916	202	31	note	note	NOUN
fbem-18916	202	32	:	:	PUNCT
fbem-18916	202	33	when	when	SCONJ
fbem-18916	202	34	the	the	DET
fbem-18916	202	35	confidence	confidence	NOUN
fbem-18916	202	36	level	level	NOUN
fbem-18916	202	37	is	be	AUX
fbem-18916	202	38	1	1	NUM
fbem-18916	202	39	%	%	NOUN
fbem-18916	202	40	,	,	PUNCT
fbem-18916	202	41	the	the	DET
fbem-18916	202	42	critical	critical	ADJ
fbem-18916	202	43	value	value	NOUN
fbem-18916	202	44	of	of	ADP
fbem-18916	202	45	the	the	DET
fbem-18916	202	46	t	t	PROPN
fbem-18916	202	47	-	-	PUNCT
fbem-18916	202	48	statistic	statistic	NOUN
fbem-18916	202	49	is	be	AUX
fbem-18916	202	50	-3.46	-3.46	NUM
fbem-18916	202	51	;	;	PUNCT
fbem-18916	202	52	when	when	SCONJ
fbem-18916	202	53	the	the	DET
fbem-18916	202	54	confidence	confidence	NOUN
fbem-18916	202	55	level	level	NOUN
fbem-18916	202	56	is	be	AUX
fbem-18916	202	57	5	5	NUM
fbem-18916	202	58	%	%	NOUN
fbem-18916	202	59	,	,	PUNCT
fbem-18916	202	60	the	the	DET
fbem-18916	202	61	critical	critical	ADJ
fbem-18916	202	62	value	value	NOUN
fbem-18916	202	63	of	of	ADP
fbem-18916	202	64	the	the	DET
fbem-18916	202	65	t	t	PROPN
fbem-18916	202	66	-	-	PUNCT
fbem-18916	202	67	statistic	statistic	NOUN
fbem-18916	202	68	is	be	AUX
fbem-18916	202	69	-2.87	-2.87	VERB
fbem-18916	202	70	;	;	PUNCT
fbem-18916	202	71	when	when	SCONJ
fbem-18916	202	72	the	the	DET
fbem-18916	202	73	confidence	confidence	NOUN
fbem-18916	202	74	level	level	NOUN
fbem-18916	202	75	is	be	AUX
fbem-18916	202	76	10	10	NUM
fbem-18916	202	77	%	%	NOUN
fbem-18916	202	78	,	,	PUNCT
fbem-18916	202	79	the	the	DET
fbem-18916	202	80	critical	critical	ADJ
fbem-18916	202	81	value	value	NOUN
fbem-18916	202	82	of	of	ADP
fbem-18916	202	83	the	the	DET
fbem-18916	202	84	t	t	NOUN
fbem-18916	202	85	-	-	PUNCT
fbem-18916	202	86	statistic	statistic	NOUN
fbem-18916	202	87	is	be	AUX
fbem-18916	202	88	-2.57	-2.57	NUM
fbem-18916	203	1	[	[	X
fbem-18916	203	2	24	24	NUM
fbem-18916	203	3	]	]	PUNCT
fbem-18916	203	4	.	.	PUNCT
fbem-18916	204	1	from	from	ADP
fbem-18916	204	2	the	the	DET
fbem-18916	204	3	table	table	NOUN
fbem-18916	204	4	,	,	PUNCT
fbem-18916	204	5	it	it	PRON
fbem-18916	204	6	can	can	AUX
fbem-18916	204	7	be	be	AUX
fbem-18916	204	8	seen	see	VERB
fbem-18916	204	9	that	that	SCONJ
fbem-18916	204	10	the	the	DET
fbem-18916	204	11	t	t	PROPN
fbem-18916	204	12	-	-	PUNCT
fbem-18916	204	13	statistic	statistic	NOUN
fbem-18916	204	14	values	value	NOUN
fbem-18916	204	15	of	of	ADP
fbem-18916	204	16	each	each	DET
fbem-18916	204	17	variable	variable	NOUN
fbem-18916	204	18	are	be	AUX
fbem-18916	204	19	much	much	ADV
fbem-18916	204	20	smaller	small	ADJ
fbem-18916	204	21	than	than	ADP
fbem-18916	204	22	-3.14	-3.14	PRON
fbem-18916	204	23	.	.	PUNCT
fbem-18916	205	1	the	the	DET
fbem-18916	205	2	critical	critical	ADJ
fbem-18916	205	3	tstatistic	tstatistic	ADJ
fbem-18916	205	4	values	value	NOUN
fbem-18916	205	5	at	at	ADP
fbem-18916	205	6	the	the	DET
fbem-18916	205	7	1	1	NUM
fbem-18916	205	8	%	%	NOUN
fbem-18916	205	9	,	,	PUNCT
fbem-18916	205	10	5	5	NUM
fbem-18916	205	11	%	%	NOUN
fbem-18916	205	12	,	,	PUNCT
fbem-18916	205	13	and	and	CCONJ
fbem-18916	205	14	10	10	NUM
fbem-18916	205	15	%	%	NOUN
fbem-18916	205	16	confidence	confidence	NOUN
fbem-18916	205	17	levels	level	NOUN
fbem-18916	205	18	are	be	AUX
fbem-18916	205	19	-3.46	-3.46	NUM
fbem-18916	205	20	,	,	PUNCT
fbem-18916	205	21	-2.87	-2.87	NUM
fbem-18916	205	22	,	,	PUNCT
fbem-18916	205	23	and	and	CCONJ
fbem-18916	205	24	-2.57	-2.57	NUM
fbem-18916	205	25	,	,	PUNCT
fbem-18916	205	26	respectively	respectively	ADV
fbem-18916	205	27	,	,	PUNCT
fbem-18916	205	28	indicating	indicate	VERB
fbem-18916	205	29	that	that	SCONJ
fbem-18916	205	30	at	at	ADP
fbem-18916	205	31	a	a	DET
fbem-18916	205	32	1	1	NUM
fbem-18916	205	33	%	%	NOUN
fbem-18916	205	34	confidence	confidence	NOUN
fbem-18916	205	35	level	level	NOUN
fbem-18916	205	36	,	,	PUNCT
fbem-18916	205	37	all	all	DET
fbem-18916	205	38	variables	variable	NOUN
fbem-18916	205	39	are	be	AUX
fbem-18916	205	40	significant	significant	ADJ
fbem-18916	205	41	.	.	PUNCT
fbem-18916	206	1	the	the	DET
fbem-18916	206	2	results	result	NOUN
fbem-18916	206	3	indicate	indicate	VERB
fbem-18916	206	4	that	that	SCONJ
fbem-18916	206	5	all	all	DET
fbem-18916	206	6	variables	variable	NOUN
fbem-18916	206	7	pass	pass	VERB
fbem-18916	206	8	the	the	DET
fbem-18916	206	9	adf	adf	NOUN
fbem-18916	206	10	test	test	NOUN
fbem-18916	206	11	and	and	CCONJ
fbem-18916	206	12	are	be	AUX
fbem-18916	206	13	stable	stable	ADJ
fbem-18916	206	14	time	time	NOUN
fbem-18916	206	15	series	series	NOUN
fbem-18916	206	16	,	,	PUNCT
fbem-18916	206	17	laying	lay	VERB
fbem-18916	206	18	a	a	DET
fbem-18916	206	19	solid	solid	ADJ
fbem-18916	206	20	foundation	foundation	NOUN
fbem-18916	206	21	for	for	ADP
fbem-18916	206	22	further	further	ADJ
fbem-18916	206	23	research	research	NOUN
fbem-18916	206	24	on	on	ADP
fbem-18916	206	25	arch	arch	ADJ
fbem-18916	206	26	effects	effect	NOUN
fbem-18916	206	27	.	.	PUNCT
fbem-18916	207	1	5.1.2	5.1.2	X
fbem-18916	207	2	.	.	NUM
fbem-18916	207	3	arch	arch	ADJ
fbem-18916	207	4	effect	effect	NOUN
fbem-18916	207	5	test	test	NOUN
fbem-18916	207	6	before	before	ADP
fbem-18916	207	7	using	use	VERB
fbem-18916	207	8	the	the	DET
fbem-18916	207	9	garch	garch	NOUN
fbem-18916	207	10	model	model	NOUN
fbem-18916	207	11	,	,	PUNCT
fbem-18916	207	12	it	it	PRON
fbem-18916	207	13	is	be	AUX
fbem-18916	207	14	necessary	necessary	ADJ
fbem-18916	207	15	to	to	PART
fbem-18916	207	16	test	test	VERB
fbem-18916	207	17	the	the	DET
fbem-18916	207	18	arch	arch	ADJ
fbem-18916	207	19	effect	effect	NOUN
fbem-18916	207	20	of	of	ADP
fbem-18916	207	21	each	each	DET
fbem-18916	207	22	sequence	sequence	NOUN
fbem-18916	207	23	and	and	CCONJ
fbem-18916	207	24	then	then	ADV
fbem-18916	207	25	test	test	VERB
fbem-18916	207	26	the	the	DET
fbem-18916	207	27	heteroskedasticity	heteroskedasticity	NOUN
fbem-18916	207	28	of	of	ADP
fbem-18916	207	29	the	the	DET
fbem-18916	207	30	residuals	residual	NOUN
fbem-18916	207	31	of	of	ADP
fbem-18916	207	32	each	each	DET
fbem-18916	207	33	sequence	sequence	NOUN
fbem-18916	207	34	's	's	PART
fbem-18916	207	35	mean	mean	ADJ
fbem-18916	207	36	equation	equation	NOUN
fbem-18916	207	37	.	.	PUNCT
fbem-18916	208	1	first	first	ADV
fbem-18916	208	2	,	,	PUNCT
fbem-18916	208	3	an	an	DET
fbem-18916	208	4	autoregressive	autoregressive	ADJ
fbem-18916	208	5	model	model	NOUN
fbem-18916	208	6	from	from	ADP
fbem-18916	208	7	lag	lag	NOUN
fbem-18916	208	8	1	1	NUM
fbem-18916	208	9	to	to	PART
fbem-18916	208	10	lag	lag	VERB
fbem-18916	208	11	36	36	NUM
fbem-18916	208	12	was	be	AUX
fbem-18916	208	13	established	establish	VERB
fbem-18916	208	14	using	use	VERB
fbem-18916	208	15	eviews	eviews	PROPN
fbem-18916	208	16	software	software	NOUN
fbem-18916	208	17	to	to	PART
fbem-18916	208	18	obtain	obtain	VERB
fbem-18916	208	19	autocorrelation	autocorrelation	NOUN
fbem-18916	208	20	and	and	CCONJ
fbem-18916	208	21	partial	partial	ADJ
fbem-18916	208	22	autocorrelation	autocorrelation	NOUN
fbem-18916	208	23	.	.	PUNCT
fbem-18916	209	1	tables	table	NOUN
fbem-18916	209	2	5.2	5.2	NUM
fbem-18916	209	3	-	-	SYM
fbem-18916	209	4	9	9	NUM
fbem-18916	209	5	show	show	VERB
fbem-18916	209	6	the	the	DET
fbem-18916	209	7	autocorrelation	autocorrelation	NOUN
fbem-18916	209	8	and	and	CCONJ
fbem-18916	209	9	partial	partial	ADJ
fbem-18916	209	10	autocorrelation	autocorrelation	NOUN
fbem-18916	209	11	of	of	ADP
fbem-18916	209	12	each	each	DET
fbem-18916	209	13	variable	variable	NOUN
fbem-18916	209	14	in	in	ADP
fbem-18916	209	15	stages	stage	NOUN
fbem-18916	209	16	1	1	NUM
fbem-18916	209	17	-	-	SYM
fbem-18916	209	18	5	5	NUM
fbem-18916	209	19	.	.	NOUN
fbem-18916	209	20	autocorrelation	autocorrelation	NOUN
fbem-18916	209	21	and	and	CCONJ
fbem-18916	209	22	partial	partial	ADJ
fbem-18916	209	23	autocorrelation	autocorrelation	NOUN
fbem-18916	209	24	coefficients	coefficient	NOUN
fbem-18916	209	25	of	of	ADP
fbem-18916	209	26	bitcoin	bitcoin	NOUN
fbem-18916	209	27	lag	lag	NOUN
fbem-18916	209	28	period	period	NOUN
fbem-18916	210	1	ac	ac	PROPN
fbem-18916	210	2	pac	pac	PROPN
fbem-18916	210	3	q	q	ADJ
fbem-18916	210	4	-	-	PUNCT
fbem-18916	210	5	stat	stat	NOUN
fbem-18916	210	6	prob	prob	NOUN
fbem-18916	210	7	1	1	NUM
fbem-18916	210	8	-0.005	-0.005	PRON
fbem-18916	210	9	-0.005	-0.005	PUNCT
fbem-18916	210	10	0.0058	0.0058	NUM
fbem-18916	210	11	0.940	0.940	NUM
fbem-18916	210	12	2	2	NUM
fbem-18916	210	13	0.045	0.045	NUM
fbem-18916	210	14	0.045	0.045	NUM
fbem-18916	210	15	0.5005	0.5005	NUM
fbem-18916	210	16	0.779	0.779	NUM
fbem-18916	210	17	3	3	NUM
fbem-18916	210	18	0.088	0.088	NUM
fbem-18916	210	19	0.089	0.089	NUM
fbem-18916	210	20	2.3732	2.3732	NUM
fbem-18916	210	21	0.499	0.499	NUM
fbem-18916	210	22	4	4	NUM
fbem-18916	210	23	-0.033	-0.033	PUNCT
fbem-18916	210	24	-0.034	-0.034	NUM
fbem-18916	210	25	2.6295	2.6295	NUM
fbem-18916	211	1	0.622	0.622	NUM
fbem-18916	211	2	5	5	NUM
fbem-18916	211	3	0.033	0.033	NUM
fbem-18916	211	4	0.025	0.025	NUM
fbem-18916	211	5	2.9007	2.9007	NUM
fbem-18916	211	6	0.715	0.715	NUM
fbem-18916	211	7	autocorrelation	autocorrelation	NOUN
fbem-18916	211	8	and	and	CCONJ
fbem-18916	211	9	partial	partial	ADJ
fbem-18916	211	10	autocorrelation	autocorrelation	NOUN
fbem-18916	211	11	coefficients	coefficient	NOUN
fbem-18916	211	12	of	of	ADP
fbem-18916	211	13	the	the	DET
fbem-18916	211	14	shanghai	shanghai	PROPN
fbem-18916	211	15	stock	stock	PROPN
fbem-18916	211	16	exchange	exchange	PROPN
fbem-18916	211	17	index	index	NOUN
fbem-18916	211	18	lag	lag	NOUN
fbem-18916	211	19	period	period	NOUN
fbem-18916	212	1	ac	ac	PROPN
fbem-18916	212	2	pac	pac	PROPN
fbem-18916	212	3	q	q	ADJ
fbem-18916	212	4	-	-	PUNCT
fbem-18916	212	5	stat	stat	NOUN
fbem-18916	212	6	prob	prob	NOUN
fbem-18916	212	7	1	1	NUM
fbem-18916	212	8	-0.066	-0.066	NOUN
fbem-18916	212	9	-0.066	-0.066	PROPN
fbem-18916	212	10	1.0317	1.0317	NUM
fbem-18916	212	11	0.310	0.310	NUM
fbem-18916	212	12	2	2	NUM
fbem-18916	212	13	-0.009	-0.009	NUM
fbem-18916	212	14	-0.013	-0.013	PUNCT
fbem-18916	212	15	1.0501	1.0501	NUM
fbem-18916	212	16	0.592	0.592	NUM
fbem-18916	212	17	3	3	NUM
fbem-18916	212	18	-0.057	-0.057	PUNCT
fbem-18916	212	19	-0.058	-0.058	NUM
fbem-18916	212	20	1.8088	1.8088	NUM
fbem-18916	212	21	0.613	0.613	NUM
fbem-18916	212	22	4	4	NUM
fbem-18916	212	23	0.023	0.023	NUM
fbem-18916	212	24	0.015	0.015	NUM
fbem-18916	212	25	1.9330	1.9330	NUM
fbem-18916	212	26	0.748	0.748	NUM
fbem-18916	212	27	5	5	NUM
fbem-18916	212	28	-0.070	-0.070	NUM
fbem-18916	212	29	-0.070	-0.070	NUM
fbem-18916	212	30	3.1079	3.1079	NUM
fbem-18916	212	31	0.683	0.683	NUM
fbem-18916	212	32	autocorrelation	autocorrelation	NOUN
fbem-18916	212	33	and	and	CCONJ
fbem-18916	212	34	partial	partial	ADJ
fbem-18916	212	35	autocorrelation	autocorrelation	NOUN
fbem-18916	212	36	coefficients	coefficient	NOUN
fbem-18916	212	37	of	of	ADP
fbem-18916	212	38	the	the	DET
fbem-18916	212	39	sse	sse	PROPN
fbem-18916	212	40	corporate	corporate	ADJ
fbem-18916	212	41	bond	bond	NOUN
fbem-18916	212	42	index	index	NOUN
fbem-18916	212	43	lag	lag	NOUN
fbem-18916	212	44	period	period	NOUN
fbem-18916	213	1	ac	ac	PROPN
fbem-18916	213	2	pac	pac	PROPN
fbem-18916	213	3	q	q	ADJ
fbem-18916	213	4	-	-	PUNCT
fbem-18916	213	5	stat	stat	NOUN
fbem-18916	213	6	prob	prob	NOUN
fbem-18916	213	7	1	1	NUM
fbem-18916	214	1	0.434	0.434	NUM
fbem-18916	214	2	0.434	0.434	NUM
fbem-18916	214	3	44.170	44.170	NUM
fbem-18916	214	4	0.000	0.000	NUM
fbem-18916	214	5	2	2	NUM
fbem-18916	214	6	0.408	0.408	NUM
fbem-18916	214	7	0.271	0.271	NUM
fbem-18916	214	8	83.512	83.512	NUM
fbem-18916	214	9	0.000	0.000	NUM
fbem-18916	214	10	3	3	NUM
fbem-18916	214	11	0.339	0.339	NUM
fbem-18916	214	12	0.123	0.123	NUM
fbem-18916	214	13	110.81	110.81	NUM
fbem-18916	214	14	0.000	0.000	NUM
fbem-18916	214	15	4	4	NUM
fbem-18916	214	16	0.285	0.285	NUM
fbem-18916	214	17	0.055	0.055	NUM
fbem-18916	214	18	130.12	130.12	NUM
fbem-18916	214	19	0.000	0.000	NUM
fbem-18916	214	20	5	5	NUM
fbem-18916	214	21	0.235	0.235	NUM
fbem-18916	214	22	0.020	0.020	NUM
fbem-18916	214	23	143.38	143.38	NUM
fbem-18916	214	24	0.000	0.000	NUM
fbem-18916	214	25	autocorrelation	autocorrelation	NOUN
fbem-18916	214	26	and	and	CCONJ
fbem-18916	214	27	partial	partial	ADJ
fbem-18916	214	28	autocorrelation	autocorrelation	NOUN
fbem-18916	214	29	coefficients	coefficient	NOUN
fbem-18916	214	30	of	of	ADP
fbem-18916	214	31	the	the	DET
fbem-18916	214	32	shenzhen	shenzhen	PROPN
fbem-18916	214	33	bulk	bulk	PROPN
fbem-18916	214	34	commodity	commodity	NOUN
fbem-18916	214	35	index	index	NOUN
fbem-18916	214	36	lag	lag	NOUN
fbem-18916	214	37	period	period	NOUN
fbem-18916	215	1	ac	ac	PROPN
fbem-18916	215	2	pac	pac	PROPN
fbem-18916	215	3	q	q	ADJ
fbem-18916	215	4	-	-	PUNCT
fbem-18916	215	5	stat	stat	NOUN
fbem-18916	215	6	prob	prob	NOUN
fbem-18916	215	7	1	1	NUM
fbem-18916	215	8	-0.112	-0.112	NUM
fbem-18916	215	9	-0.112	-0.112	PUNCT
fbem-18916	215	10	2.9194	2.9194	NUM
fbem-18916	215	11	0.088	0.088	NUM
fbem-18916	215	12	2	2	NUM
fbem-18916	215	13	0.088	0.088	NUM
fbem-18916	215	14	0.076	0.076	NUM
fbem-18916	215	15	4.7366	4.7366	NUM
fbem-18916	215	16	0.094	0.094	NUM
fbem-18916	215	17	3	3	NUM
fbem-18916	215	18	-0.066	-0.066	NOUN
fbem-18916	215	19	-0.050	-0.050	PROPN
fbem-18916	216	1	5.7794	5.7794	NUM
fbem-18916	216	2	0.123	0.123	NUM
fbem-18916	216	3	4	4	NUM
fbem-18916	216	4	-0.019	-0.019	NOUN
fbem-18916	216	5	-0.038	-0.038	PUNCT
fbem-18916	216	6	5.8619	5.8619	NUM
fbem-18916	216	7	0.210	0.210	NUM
fbem-18916	216	8	5	5	NUM
fbem-18916	216	9	-0.021	-0.021	NOUN
fbem-18916	216	10	-0.018	-0.018	PUNCT
fbem-18916	216	11	5.9689	5.9689	NUM
fbem-18916	216	12	0.309	0.309	NUM
fbem-18916	216	13	autocorrelation	autocorrelation	NOUN
fbem-18916	216	14	and	and	CCONJ
fbem-18916	216	15	partial	partial	ADJ
fbem-18916	216	16	autocorrelation	autocorrelation	NOUN
fbem-18916	216	17	coefficients	coefficient	NOUN
fbem-18916	216	18	of	of	ADP
fbem-18916	216	19	gold	gold	NOUN
fbem-18916	216	20	futures	future	NOUN
fbem-18916	216	21	lag	lag	NOUN
fbem-18916	216	22	period	period	NOUN
fbem-18916	217	1	ac	ac	PROPN
fbem-18916	217	2	pac	pac	PROPN
fbem-18916	217	3	q	q	ADJ
fbem-18916	217	4	-	-	PUNCT
fbem-18916	217	5	stat	stat	NOUN
fbem-18916	217	6	prob	prob	NOUN
fbem-18916	217	7	1	1	NUM
fbem-18916	217	8	-0.169	-0.169	NOUN
fbem-18916	217	9	-0.169	-0.169	PUNCT
fbem-18916	217	10	6.7979	6.7979	NUM
fbem-18916	217	11	0.009	0.009	NUM
fbem-18916	217	12	2	2	NUM
fbem-18916	217	13	0.071	0.071	NUM
fbem-18916	217	14	0.044	0.044	NUM
fbem-18916	217	15	8.0028	8.0028	NUM
fbem-18916	217	16	0.018	0.018	NUM
fbem-18916	217	17	3	3	NUM
fbem-18916	217	18	-0.057	-0.057	NUM
fbem-18916	217	19	-0.039	-0.039	NOUN
fbem-18916	217	20	8.7799	8.7799	NUM
fbem-18916	217	21	0.032	0.032	NUM
fbem-18916	217	22	4	4	NUM
fbem-18916	217	23	-0.098	-0.098	SYM
fbem-18916	217	24	-0.120	-0.120	X
fbem-18916	217	25	11.098	11.098	NUM
fbem-18916	217	26	0.025	0.025	NUM
fbem-18916	217	27	5	5	NUM
fbem-18916	217	28	0.120	0.120	NUM
fbem-18916	217	29	0.095	0.095	NUM
fbem-18916	217	30	14.604	14.604	NUM
fbem-18916	217	31	0.012	0.012	NUM
fbem-18916	217	32	from	from	ADP
fbem-18916	217	33	the	the	DET
fbem-18916	217	34	autocorrelation	autocorrelation	NOUN
fbem-18916	217	35	and	and	CCONJ
fbem-18916	217	36	partial	partial	ADJ
fbem-18916	217	37	correlation	correlation	NOUN
fbem-18916	217	38	coefficients	coefficient	NOUN
fbem-18916	217	39	of	of	ADP
fbem-18916	217	40	each	each	DET
fbem-18916	217	41	lag	lag	NOUN
fbem-18916	217	42	variable	variable	NOUN
fbem-18916	217	43	,	,	PUNCT
fbem-18916	217	44	it	it	PRON
fbem-18916	217	45	can	can	AUX
fbem-18916	217	46	be	be	AUX
fbem-18916	217	47	seen	see	VERB
fbem-18916	217	48	that	that	SCONJ
fbem-18916	217	49	the	the	DET
fbem-18916	217	50	qstatistic	qstatistic	ADJ
fbem-18916	217	51	values	value	NOUN
fbem-18916	217	52	for	for	ADP
fbem-18916	217	53	bitcoin	bitcoin	NOUN
fbem-18916	217	54	,	,	PUNCT
fbem-18916	217	55	the	the	DET
fbem-18916	217	56	shanghai	shanghai	PROPN
fbem-18916	217	57	stock	stock	PROPN
fbem-18916	217	58	exchange	exchange	PROPN
fbem-18916	217	59	index	index	NOUN
fbem-18916	217	60	,	,	PUNCT
fbem-18916	217	61	and	and	CCONJ
fbem-18916	217	62	the	the	DET
fbem-18916	217	63	shenzhen	shenzhen	PROPN
fbem-18916	217	64	bulk	bulk	PROPN
fbem-18916	217	65	commodity	commodity	NOUN
fbem-18916	217	66	index	index	NOUN
fbem-18916	217	67	all	all	PRON
fbem-18916	217	68	have	have	VERB
fbem-18916	217	69	pvalues	pvalue	NOUN
fbem-18916	217	70	exceeding	exceed	VERB
fbem-18916	217	71	10	10	NUM
fbem-18916	217	72	%	%	NOUN
fbem-18916	217	73	confidence	confidence	NOUN
fbem-18916	217	74	level	level	NOUN
fbem-18916	217	75	,	,	PUNCT
fbem-18916	217	76	indicating	indicate	VERB
fbem-18916	217	77	no	no	DET
fbem-18916	217	78	rejection	rejection	NOUN
fbem-18916	217	79	of	of	ADP
fbem-18916	217	80	the	the	DET
fbem-18916	217	81	null	null	ADJ
fbem-18916	217	82	hypothesis	hypothesis	NOUN
fbem-18916	217	83	,	,	PUNCT
fbem-18916	217	84	meaning	mean	VERB
fbem-18916	217	85	that	that	SCONJ
fbem-18916	217	86	there	there	PRON
fbem-18916	217	87	is	be	VERB
fbem-18916	217	88	no	no	DET
fbem-18916	217	89	304	304	NUM
fbem-18916	217	90	significant	significant	ADJ
fbem-18916	217	91	time	time	NOUN
fbem-18916	217	92	series	series	NOUN
fbem-18916	217	93	correlation	correlation	NOUN
fbem-18916	217	94	in	in	ADP
fbem-18916	217	95	each	each	DET
fbem-18916	217	96	sequence	sequence	NOUN
fbem-18916	217	97	's	's	PART
fbem-18916	217	98	variable	variable	NOUN
fbem-18916	217	99	[	[	X
fbem-18916	217	100	25	25	NUM
fbem-18916	217	101	]	]	PUNCT
fbem-18916	217	102	.	.	PUNCT
fbem-18916	218	1	however	however	ADV
fbem-18916	218	2	,	,	PUNCT
fbem-18916	218	3	for	for	ADP
fbem-18916	218	4	the	the	DET
fbem-18916	218	5	sse	sse	PROPN
fbem-18916	218	6	corporate	corporate	ADJ
fbem-18916	218	7	bond	bond	NOUN
fbem-18916	218	8	index	index	NOUN
fbem-18916	218	9	and	and	CCONJ
fbem-18916	218	10	gold	gold	NOUN
fbem-18916	218	11	futures	future	NOUN
fbem-18916	218	12	,	,	PUNCT
fbem-18916	218	13	the	the	DET
fbem-18916	218	14	p	p	NOUN
fbem-18916	218	15	-	-	PUNCT
fbem-18916	218	16	values	value	NOUN
fbem-18916	218	17	are	be	AUX
fbem-18916	218	18	less	less	ADJ
fbem-18916	218	19	than	than	ADP
fbem-18916	218	20	the	the	DET
fbem-18916	218	21	10	10	NUM
fbem-18916	218	22	%	%	NOUN
fbem-18916	218	23	confidence	confidence	NOUN
fbem-18916	218	24	level	level	NOUN
fbem-18916	218	25	,	,	PUNCT
fbem-18916	218	26	so	so	CCONJ
fbem-18916	218	27	the	the	DET
fbem-18916	218	28	null	null	ADJ
fbem-18916	218	29	hypothesis	hypothesis	NOUN
fbem-18916	218	30	can	can	AUX
fbem-18916	218	31	not	not	PART
fbem-18916	218	32	be	be	AUX
fbem-18916	218	33	rejected	reject	VERB
fbem-18916	218	34	,	,	PUNCT
fbem-18916	218	35	indicating	indicate	VERB
fbem-18916	218	36	sequence	sequence	NOUN
fbem-18916	218	37	correlation	correlation	NOUN
fbem-18916	218	38	.	.	PUNCT
fbem-18916	219	1	therefore	therefore	ADV
fbem-18916	219	2	,	,	PUNCT
fbem-18916	219	3	for	for	ADP
fbem-18916	219	4	bitcoin	bitcoin	NOUN
fbem-18916	219	5	,	,	PUNCT
fbem-18916	219	6	the	the	DET
fbem-18916	219	7	mean	mean	ADJ
fbem-18916	219	8	model	model	NOUN
fbem-18916	219	9	is	be	AUX
fbem-18916	219	10	set	set	VERB
fbem-18916	219	11	to	to	ADP
fbem-18916	219	12	white	white	ADJ
fbem-18916	219	13	noise	noise	NOUN
fbem-18916	219	14	.	.	PUNCT
fbem-18916	220	1	model	model	NOUN
fbem-18916	220	2	establishment	establishment	NOUN
fbem-18916	220	3	:	:	PUNCT
fbem-18916	221	1	rt	rt	PROPN
fbem-18916	221	2	=	=	SYM
fbem-18916	221	3	πt+εt	πt+εt	NOUN
fbem-18916	221	4	,	,	PUNCT
fbem-18916	221	5	each	each	DET
fbem-18916	221	6	variable	variable	NOUN
fbem-18916	221	7	is	be	AUX
fbem-18916	221	8	de	de	ADV
fbem-18916	221	9	-	-	VERB
fbem-18916	221	10	meaned	meaned	ADJ
fbem-18916	221	11	to	to	PART
fbem-18916	221	12	obtain	obtain	VERB
fbem-18916	221	13	a	a	DET
fbem-18916	221	14	new	new	ADJ
fbem-18916	221	15	variable	variable	ADJ
fbem-18916	221	16	btc1	btc1	NOUN
fbem-18916	221	17	.	.	PUNCT
fbem-18916	222	1	the	the	DET
fbem-18916	222	2	lm	lm	PROPN
fbem-18916	222	3	test	test	NOUN
fbem-18916	222	4	(	(	PUNCT
fbem-18916	222	5	lagrange	lagrange	X
fbem-18916	222	6	multiplier	multipli	ADJ
fbem-18916	222	7	test	test	NOUN
fbem-18916	222	8	)	)	PUNCT
fbem-18916	222	9	was	be	AUX
fbem-18916	222	10	then	then	ADV
fbem-18916	222	11	used	use	VERB
fbem-18916	222	12	to	to	PART
fbem-18916	222	13	test	test	VERB
fbem-18916	222	14	the	the	DET
fbem-18916	222	15	arch	arch	ADJ
fbem-18916	222	16	effect	effect	NOUN
fbem-18916	222	17	.	.	PUNCT
fbem-18916	223	1	lag	lag	NOUN
fbem-18916	223	2	period	period	NOUN
fbem-18916	223	3	ac	ac	PROPN
fbem-18916	223	4	pac	pac	PROPN
fbem-18916	223	5	q	q	ADJ
fbem-18916	223	6	-	-	PUNCT
fbem-18916	223	7	stat	stat	NOUN
fbem-18916	223	8	prob	prob	NOUN
fbem-18916	223	9	1	1	NUM
fbem-18916	224	1	0.183	0.183	NUM
fbem-18916	224	2	0.183	0.183	NUM
fbem-18916	224	3	7.9642	7.9642	NUM
fbem-18916	224	4	0.005	0.005	NUM
fbem-18916	224	5	2	2	NUM
fbem-18916	224	6	0.174	0.174	NUM
fbem-18916	224	7	0.146	0.146	NUM
fbem-18916	224	8	15.238	15.238	NUM
fbem-18916	224	9	0.000	0.000	NUM
fbem-18916	224	10	3	3	NUM
fbem-18916	224	11	0.168	0.168	NUM
fbem-18916	224	12	0.120	0.120	NUM
fbem-18916	224	13	21.996	21.996	NUM
fbem-18916	224	14	0.000	0.000	NUM
fbem-18916	224	15	4	4	NUM
fbem-18916	224	16	0.140	0.140	NUM
fbem-18916	224	17	0.078	0.078	NUM
fbem-18916	224	18	26.705	26.705	NUM
fbem-18916	224	19	0.000	0.000	NUM
fbem-18916	224	20	5	5	NUM
fbem-18916	224	21	0.104	0.104	NUM
fbem-18916	224	22	0.036	0.036	NUM
fbem-18916	224	23	29.321	29.321	NUM
fbem-18916	224	24	0.000	0.000	NUM
fbem-18916	224	25	through	through	ADP
fbem-18916	224	26	the	the	DET
fbem-18916	224	27	graph	graph	NOUN
fbem-18916	224	28	,	,	PUNCT
fbem-18916	224	29	it	it	PRON
fbem-18916	224	30	can	can	AUX
fbem-18916	224	31	be	be	AUX
fbem-18916	224	32	seen	see	VERB
fbem-18916	224	33	that	that	SCONJ
fbem-18916	224	34	there	there	PRON
fbem-18916	224	35	is	be	VERB
fbem-18916	224	36	autocorrelation	autocorrelation	NOUN
fbem-18916	224	37	in	in	ADP
fbem-18916	224	38	the	the	DET
fbem-18916	224	39	sequence	sequence	NOUN
fbem-18916	224	40	,	,	PUNCT
fbem-18916	224	41	indicating	indicate	VERB
fbem-18916	224	42	the	the	DET
fbem-18916	224	43	presence	presence	NOUN
fbem-18916	224	44	of	of	ADP
fbem-18916	224	45	an	an	DET
fbem-18916	224	46	arch	arch	ADJ
fbem-18916	224	47	effect	effect	NOUN
fbem-18916	224	48	.	.	PUNCT
fbem-18916	225	1	commonly	commonly	ADV
fbem-18916	225	2	used	use	VERB
fbem-18916	225	3	garch	garch	NOUN
fbem-18916	225	4	models	model	NOUN
fbem-18916	225	5	include	include	VERB
fbem-18916	225	6	garch(1,1	garch(1,1	NOUN
fbem-18916	225	7	)	)	PUNCT
fbem-18916	225	8	,	,	PUNCT
fbem-18916	225	9	garch(1,2	garch(1,2	NOUN
fbem-18916	225	10	)	)	PUNCT
fbem-18916	225	11	,	,	PUNCT
fbem-18916	225	12	and	and	CCONJ
fbem-18916	225	13	garch(2,1	garch(2,1	NOUN
fbem-18916	225	14	)	)	PUNCT
fbem-18916	225	15	.	.	PUNCT
fbem-18916	226	1	we	we	PRON
fbem-18916	226	2	model	model	VERB
fbem-18916	226	3	with	with	ADP
fbem-18916	226	4	multiple	multiple	ADJ
fbem-18916	226	5	models	model	NOUN
fbem-18916	226	6	separately	separately	ADV
fbem-18916	227	1	[	[	X
fbem-18916	227	2	26	26	NUM
fbem-18916	227	3	]	]	PUNCT
fbem-18916	227	4	.	.	PUNCT
fbem-18916	227	5	garch(1,1	garch(1,1	NOUN
fbem-18916	227	6	)	)	PUNCT
fbem-18916	227	7	akaike	akaike	ADP
fbem-18916	227	8	info	info	NOUN
fbem-18916	227	9	criterion	criterion	NOUN
fbem-18916	227	10	-1.455204	-1.455204	NOUN
fbem-18916	227	11	schwarz	schwarz	PROPN
fbem-18916	227	12	criterion	criterion	NOUN
fbem-18916	227	13	-1.411039	-1.411039	PROPN
fbem-18916	227	14	garch(2,1	garch(2,1	VERB
fbem-18916	227	15	)	)	PUNCT
fbem-18916	228	1	akaike	akaike	ADP
fbem-18916	228	2	info	info	NOUN
fbem-18916	228	3	criterion	criterion	NOUN
fbem-18916	228	4	-1.448624	-1.448624	X
fbem-18916	228	5	schwarz	schwarz	NOUN
fbem-18916	228	6	criterion	criterion	NOUN
fbem-18916	228	7	-1.389737	-1.389737	NOUN
fbem-18916	228	8	garch(1,2	garch(1,2	NOUN
fbem-18916	228	9	)	)	PUNCT
fbem-18916	228	10	akaike	akaike	ADJ
fbem-18916	228	11	info	info	NOUN
fbem-18916	228	12	criterion	criterion	NOUN
fbem-18916	228	13	-1.458363	-1.458363	PUNCT
fbem-18916	229	1	schwarz	schwarz	PROPN
fbem-18916	229	2	criterion	criterion	NOUN
fbem-18916	229	3	-1.399477	-1.399477	NOUN
fbem-18916	229	4	based	base	VERB
fbem-18916	229	5	on	on	ADP
fbem-18916	229	6	the	the	DET
fbem-18916	229	7	comparison	comparison	NOUN
fbem-18916	229	8	of	of	ADP
fbem-18916	229	9	sc	sc	PROPN
fbem-18916	229	10	and	and	CCONJ
fbem-18916	229	11	aic	aic	PROPN
fbem-18916	229	12	,	,	PUNCT
fbem-18916	229	13	garch(1,1	garch(1,1	NOUN
fbem-18916	229	14	)	)	PUNCT
fbem-18916	229	15	has	have	VERB
fbem-18916	229	16	the	the	DET
fbem-18916	229	17	best	good	ADJ
fbem-18916	229	18	performance	performance	NOUN
fbem-18916	229	19	as	as	SCONJ
fbem-18916	229	20	all	all	DET
fbem-18916	229	21	coefficients	coefficient	NOUN
fbem-18916	229	22	pass	pass	VERB
fbem-18916	229	23	the	the	DET
fbem-18916	229	24	t	t	NOUN
fbem-18916	229	25	-	-	PUNCT
fbem-18916	229	26	test	test	NOUN
fbem-18916	229	27	.	.	PUNCT
fbem-18916	230	1	then	then	ADV
fbem-18916	230	2	,	,	PUNCT
fbem-18916	230	3	through	through	ADP
fbem-18916	230	4	the	the	DET
fbem-18916	230	5	model	model	NOUN
fbem-18916	230	6	,	,	PUNCT
fbem-18916	230	7	a	a	DET
fbem-18916	230	8	t	t	NOUN
fbem-18916	230	9	-	-	PUNCT
fbem-18916	230	10	value	value	NOUN
fbem-18916	230	11	of	of	ADP
fbem-18916	230	12	6.578689	6.578689	NUM
fbem-18916	230	13	is	be	AUX
fbem-18916	230	14	obtained	obtain	VERB
fbem-18916	230	15	,	,	PUNCT
fbem-18916	230	16	and	and	CCONJ
fbem-18916	230	17	the	the	DET
fbem-18916	230	18	var	var	NOUN
fbem-18916	230	19	value	value	NOUN
fbem-18916	230	20	of	of	ADP
fbem-18916	230	21	btc	btc	PROPN
fbem-18916	230	22	is	be	AUX
fbem-18916	230	23	calculated	calculate	VERB
fbem-18916	230	24	.	.	PUNCT
fbem-18916	231	1	below	below	ADV
fbem-18916	231	2	is	be	AUX
fbem-18916	231	3	the	the	DET
fbem-18916	231	4	var	var	NOUN
fbem-18916	231	5	value	value	NOUN
fbem-18916	231	6	for	for	ADP
fbem-18916	231	7	bitcoin	bitcoin	NOUN
fbem-18916	231	8	.	.	PUNCT
fbem-18916	232	1	mean	mean	VERB
fbem-18916	232	2	0.226738	0.226738	NUM
fbem-18916	232	3	std	std	NOUN
fbem-18916	232	4	0.055116	0.055116	NUM
fbem-18916	232	5	5.2	5.2	NUM
fbem-18916	232	6	.	.	PUNCT
fbem-18916	233	1	risk	risk	NOUN
fbem-18916	233	2	diversification	diversification	NOUN
fbem-18916	233	3	analysis	analysis	NOUN
fbem-18916	233	4	below	below	ADV
fbem-18916	233	5	,	,	PUNCT
fbem-18916	233	6	we	we	PRON
fbem-18916	233	7	conduct	conduct	VERB
fbem-18916	233	8	a	a	DET
fbem-18916	233	9	tail	tail	NOUN
fbem-18916	233	10	analysis	analysis	NOUN
fbem-18916	233	11	and	and	CCONJ
fbem-18916	233	12	hedge	hedge	NOUN
fbem-18916	233	13	for	for	ADP
fbem-18916	233	14	bitcoin	bitcoin	NOUN
fbem-18916	233	15	using	use	VERB
fbem-18916	233	16	the	the	DET
fbem-18916	233	17	markowitz	markowitz	PROPN
fbem-18916	233	18	model	model	NOUN
fbem-18916	233	19	in	in	ADP
fbem-18916	233	20	excel	excel	NOUN
fbem-18916	233	21	.	.	PUNCT
fbem-18916	234	1	first	first	ADV
fbem-18916	234	2	,	,	PUNCT
fbem-18916	234	3	we	we	PRON
fbem-18916	234	4	calculate	calculate	VERB
fbem-18916	234	5	the	the	DET
fbem-18916	234	6	covariance	covariance	NOUN
fbem-18916	234	7	and	and	CCONJ
fbem-18916	234	8	correlation	correlation	NOUN
fbem-18916	234	9	coefficients	coefficient	NOUN
fbem-18916	234	10	using	use	VERB
fbem-18916	234	11	excel	excel	NOUN
fbem-18916	234	12	's	's	PART
fbem-18916	234	13	formula	formula	NOUN
fbem-18916	234	14	feature	feature	NOUN
fbem-18916	234	15	.	.	PUNCT
fbem-18916	235	1	correlation	correlation	NOUN
fbem-18916	235	2	coefficients	coefficient	NOUN
fbem-18916	235	3	btc	btc	ADP
fbem-18916	235	4	ssec	ssec	ADJ
fbem-18916	235	5	sseebi	sseebi	NOUN
fbem-18916	235	6	szcpi	szcpi	NOUN
fbem-18916	235	7	zgm2	zgm2	PROPN
fbem-18916	236	1	btc	btc	VERB
fbem-18916	236	2	1	1	NUM
fbem-18916	236	3	0.079048	0.079048	NUM
fbem-18916	236	4	-0.09295722	-0.09295722	NOUN
fbem-18916	236	5	0.148319857	0.148319857	NUM
fbem-18916	236	6	0.14195121	0.14195121	NUM
fbem-18916	236	7	ssec	ssec	ADJ
fbem-18916	236	8	1	1	NUM
fbem-18916	236	9	-0.00475576	-0.00475576	NOUN
fbem-18916	236	10	0.792627147	0.792627147	NUM
fbem-18916	236	11	0.204856395	0.204856395	NUM
fbem-18916	237	1	sseebi	sseebi	NOUN
fbem-18916	237	2	1	1	NUM
fbem-18916	237	3	0.013582587	0.013582587	NUM
fbem-18916	237	4	0.103614018	0.103614018	NUM
fbem-18916	237	5	szcpi	szcpi	NOUN
fbem-18916	237	6	1	1	NUM
fbem-18916	237	7	0.177346886	0.177346886	NUM
fbem-18916	237	8	zgm2	zgm2	NOUN
fbem-18916	237	9	1	1	NUM
fbem-18916	237	10	covariance	covariance	NOUN
fbem-18916	237	11	btc	btc	VERB
fbem-18916	237	12	ssec	ssec	ADJ
fbem-18916	237	13	sseebi	sseebi	NOUN
fbem-18916	237	14	szcpi	szcpi	NOUN
fbem-18916	237	15	zgm2	zgm2	PROPN
fbem-18916	237	16	btc	btc	VERB
fbem-18916	237	17	0.014711353	0.014711353	NUM
fbem-18916	237	18	0.000227	0.000227	NUM
fbem-18916	237	19	-6.1101e-06	-6.1101e-06	PUNCT
fbem-18916	237	20	0.000601966	0.000601966	NUM
fbem-18916	237	21	0.000341752	0.000341752	NUM
fbem-18916	237	22	ssec	ssec	ADJ
fbem-18916	237	23	0.000554	0.000554	NUM
fbem-18916	237	24	-6.0278e-08	-6.0278e-08	NOUN
fbem-18916	237	25	0.000621305	0.000621305	NUM
fbem-18916	237	26	9.62526e-05	9.62526e-05	NUM
fbem-18916	237	27	sseebi	sseebi	NOUN
fbem-18916	237	28	2.90027e-07	2.90027e-07	NUM
fbem-18916	237	29	2.42269e-07	2.42269e-07	NUM
fbem-18916	237	30	1.11399e-06	1.11399e-06	NUM
fbem-18916	237	31	szcpi	szcpi	NOUN
fbem-18916	237	32	0.001104485	0.001104485	NUM
fbem-18916	237	33	0.000117904	0.000117904	NUM
fbem-18916	237	34	zgm2	zgm2	NOUN
fbem-18916	237	35	0.000393995	0.000393995	NUM
fbem-18916	237	36	then	then	ADV
fbem-18916	237	37	,	,	PUNCT
fbem-18916	237	38	we	we	PRON
fbem-18916	237	39	use	use	VERB
fbem-18916	237	40	excel	excel	PROPN
fbem-18916	237	41	's	's	PART
fbem-18916	237	42	solver	solver	NOUN
fbem-18916	237	43	to	to	PART
fbem-18916	237	44	calculate	calculate	VERB
fbem-18916	237	45	the	the	DET
fbem-18916	237	46	minimum	minimum	ADJ
fbem-18916	237	47	variance	variance	NOUN
fbem-18916	237	48	portfolio	portfolio	NOUN
fbem-18916	237	49	and	and	CCONJ
fbem-18916	237	50	the	the	DET
fbem-18916	237	51	optimal	optimal	ADJ
fbem-18916	237	52	portfolio	portfolio	NOUN
fbem-18916	237	53	.	.	PUNCT
fbem-18916	238	1	1	1	NUM
fbem-18916	238	2	2	2	NUM
fbem-18916	238	3	3	3	NUM
fbem-18916	238	4	4	4	NUM
fbem-18916	238	5	5	5	NUM
fbem-18916	238	6	mean	mean	NOUN
fbem-18916	238	7	excess	excess	ADJ
fbem-18916	238	8	0.000798817	0.000798817	NUM
fbem-18916	238	9	0.000801312	0.000801312	NUM
fbem-18916	238	10	0.000803806	0.000803806	NUM
fbem-18916	238	11	0.000806301	0.000806301	NUM
fbem-18916	238	12	0.000808796	0.000808796	NUM
fbem-18916	238	13	mean	mean	NOUN
fbem-18916	238	14	0.000868817	0.000868817	NUM
fbem-18916	238	15	0.000871312	0.000871312	NUM
fbem-18916	238	16	0.000873807	0.000873807	NUM
fbem-18916	238	17	0.000876301	0.000876301	NUM
fbem-18916	238	18	0.000878797	0.000878797	NUM
fbem-18916	238	19	sd	sd	ADP
fbem-18916	238	20	0.000540929	0.000540929	NUM
fbem-18916	238	21	0.00054121	0.00054121	NUM
fbem-18916	238	22	0.000541776	0.000541776	NUM
fbem-18916	238	23	0.000543454	0.000543454	NUM
fbem-18916	238	24	0.000558663	0.000558663	NUM
fbem-18916	238	25	slope	slope	NOUN
fbem-18916	238	26	1.47674911	1.47674911	NUM
fbem-18916	238	27	1.480592862	1.480592862	NUM
fbem-18916	238	28	1.454652625	1.454652625	NUM
fbem-18916	238	29	1.48365938	1.48365938	NUM
fbem-18916	238	30	1.447735443	1.447735443	NUM
fbem-18916	238	31	btc	btc	NOUN
fbem-18916	238	32	0.000352225	0.000352225	NUM
fbem-18916	238	33	0.000482445	0.000482445	NUM
fbem-18916	238	34	0.000478949	0.000478949	NUM
fbem-18916	238	35	0.000742836	0.000742836	NUM
fbem-18916	238	36	0.000710275	0.000710275	NUM
fbem-18916	238	37	ssec	ssec	ADJ
fbem-18916	238	38	3.36687e-05	3.36687e-05	NUM
fbem-18916	238	39	3.329e-05	3.329e-05	NUM
fbem-18916	238	40	3.32896e-05	3.32896e-05	NUM
fbem-18916	238	41	3.36637e-05	3.36637e-05	NUM
fbem-18916	238	42	3.36654e-05	3.36654e-05	NUM
fbem-18916	238	43	sseebi	sseebi	NOUN
fbem-18916	238	44	0.999614106	0.999614106	NUM
fbem-18916	238	45	0.999484265	0.999484265	NUM
fbem-18916	238	46	0.995373361	0.995373361	NUM
fbem-18916	238	47	0.9992235	0.9992235	NUM
fbem-18916	238	48	0.994344811	0.994344811	NUM
fbem-18916	238	49	szcpi	szcpi	NOUN
fbem-18916	238	50	0	0	NUM
fbem-18916	238	51	0	0	NUM
fbem-18916	238	52	0.001388222	0.001388222	NUM
fbem-18916	238	53	0	0	NUM
fbem-18916	238	54	0.001484334	0.001484334	NUM
fbem-18916	238	55	zgm2	zgm2	NOUN
fbem-18916	238	56	0	0	NUM
fbem-18916	238	57	0	0	NUM
fbem-18916	239	1	0.002726179	0.002726179	NUM
fbem-18916	239	2	0	0	NUM
fbem-18916	239	3	0.003426915	0.003426915	NUM
fbem-18916	239	4	var	var	NOUN
fbem-18916	239	5	0.000330	0.000330	NUM
fbem-18916	239	6	0.000289	0.000289	NUM
fbem-18916	239	7	0.000267	0.000267	NUM
fbem-18916	239	8	0.000209	0.000209	NUM
fbem-18916	239	9	0.000222	0.000222	NUM
fbem-18916	239	10	from	from	ADP
fbem-18916	239	11	the	the	DET
fbem-18916	239	12	analysis	analysis	NOUN
fbem-18916	239	13	in	in	ADP
fbem-18916	239	14	the	the	DET
fbem-18916	239	15	table	table	NOUN
fbem-18916	239	16	,	,	PUNCT
fbem-18916	239	17	it	it	PRON
fbem-18916	239	18	can	can	AUX
fbem-18916	239	19	be	be	AUX
fbem-18916	239	20	inferred	infer	VERB
fbem-18916	239	21	that	that	SCONJ
fbem-18916	239	22	to	to	PART
fbem-18916	239	23	hedge	hedge	VERB
fbem-18916	239	24	against	against	ADP
fbem-18916	239	25	the	the	DET
fbem-18916	239	26	significant	significant	ADJ
fbem-18916	239	27	risk	risk	NOUN
fbem-18916	239	28	of	of	ADP
fbem-18916	239	29	bitcoin	bitcoin	NOUN
fbem-18916	239	30	,	,	PUNCT
fbem-18916	239	31	the	the	DET
fbem-18916	239	32	asset	asset	NOUN
fbem-18916	239	33	allocation	allocation	NOUN
fbem-18916	239	34	of	of	ADP
fbem-18916	239	35	the	the	DET
fbem-18916	239	36	portfolio	portfolio	NOUN
fbem-18916	239	37	will	will	AUX
fbem-18916	239	38	allocate	allocate	VERB
fbem-18916	239	39	the	the	DET
fbem-18916	239	40	majority	majority	NOUN
fbem-18916	239	41	of	of	ADP
fbem-18916	239	42	funds	fund	NOUN
fbem-18916	239	43	to	to	ADP
fbem-18916	239	44	the	the	DET
fbem-18916	239	45	shanghai	shanghai	PROPN
fbem-18916	239	46	corporate	corporate	ADJ
fbem-18916	239	47	bond	bond	NOUN
fbem-18916	239	48	index	index	NOUN
fbem-18916	239	49	,	,	PUNCT
fbem-18916	239	50	with	with	ADP
fbem-18916	239	51	a	a	DET
fbem-18916	239	52	weight	weight	NOUN
fbem-18916	239	53	exceeding	exceed	VERB
fbem-18916	239	54	99	99	NUM
fbem-18916	239	55	%	%	NOUN
fbem-18916	239	56	.	.	PUNCT
fbem-18916	240	1	the	the	DET
fbem-18916	240	2	following	follow	VERB
fbem-18916	240	3	graph	graph	NOUN
fbem-18916	240	4	illustrates	illustrate	VERB
fbem-18916	240	5	the	the	DET
fbem-18916	240	6	efficient	efficient	ADJ
fbem-18916	240	7	frontier	frontier	NOUN
fbem-18916	240	8	based	base	VERB
fbem-18916	240	9	on	on	ADP
fbem-18916	240	10	portfolio	portfolio	NOUN
fbem-18916	240	11	investment	investment	NOUN
fbem-18916	240	12	under	under	ADP
fbem-18916	240	13	the	the	DET
fbem-18916	240	14	markowitz	markowitz	PROPN
fbem-18916	240	15	theory	theory	NOUN
fbem-18916	240	16	.	.	PUNCT
fbem-18916	241	1	0	0	NUM
fbem-18916	241	2	4	4	NUM
fbem-18916	241	3	8	8	NUM
fbem-18916	241	4	12	12	NUM
fbem-18916	241	5	16	16	NUM
fbem-18916	241	6	20	20	NUM
fbem-18916	241	7	24	24	NUM
fbem-18916	241	8	28	28	NUM
fbem-18916	241	9	32	32	NUM
fbem-18916	241	10	-0.4	-0.4	NUM
fbem-18916	241	11	-0.3	-0.3	PROPN
fbem-18916	241	12	-0.2	-0.2	PROPN
fbem-18916	241	13	-0.1	-0.1	PROPN
fbem-18916	241	14	0.0	0.0	NUM
fbem-18916	241	15	0.1	0.1	NUM
fbem-18916	241	16	0.2	0.2	NUM
fbem-18916	241	17	0.3	0.3	NUM
fbem-18916	241	18	0.4	0.4	NUM
fbem-18916	241	19	series	series	NOUN
fbem-18916	241	20	:	:	PUNCT
fbem-18916	241	21	btc1	btc1	PROPN
fbem-18916	241	22	sample	sample	NOUN
fbem-18916	241	23	7/02/2017	7/02/2017	NUM
fbem-18916	241	24	12/26/2021	12/26/2021	NUM
fbem-18916	241	25	observations	observation	NOUN
fbem-18916	241	26	235	235	NUM
fbem-18916	241	27	mean	mean	ADJ
fbem-18916	241	28	1.28e-07	1.28e-07	NUM
fbem-18916	241	29	median	median	NOUN
fbem-18916	241	30	-0.011422	-0.011422	NOUN
fbem-18916	242	1	maximum	maximum	NOUN
fbem-18916	242	2	0.416178	0.416178	NUM
fbem-18916	242	3	minimum	minimum	ADJ
fbem-18916	242	4	-0.436922	-0.436922	NOUN
fbem-18916	242	5	std	std	PROPN
fbem-18916	242	6	.	.	PROPN
fbem-18916	242	7	dev	dev	PROPN
fbem-18916	242	8	.	.	PUNCT
fbem-18916	243	1	0.121549	0.121549	NUM
fbem-18916	243	2	skewness	skewness	NOUN
fbem-18916	243	3	0.248988	0.248988	NUM
fbem-18916	243	4	kurtosis	kurtosis	VERB
fbem-18916	243	5	4.089466	4.089466	NUM
fbem-18916	243	6	jarque	jarque	NOUN
fbem-18916	243	7	-	-	PUNCT
fbem-18916	243	8	bera	bera	NOUN
fbem-18916	243	9	14.05022	14.05022	NUM
fbem-18916	243	10	probability	probability	NOUN
fbem-18916	243	11	0.000889	0.000889	NUM
fbem-18916	243	12	305	305	NUM
fbem-18916	243	13	6	6	NUM
fbem-18916	243	14	.	.	PUNCT
fbem-18916	243	15	research	research	NOUN
fbem-18916	243	16	conclusion	conclusion	NOUN
fbem-18916	243	17	and	and	CCONJ
fbem-18916	243	18	implications	implication	NOUN
fbem-18916	243	19	6.1	6.1	NUM
fbem-18916	243	20	.	.	PUNCT
fbem-18916	244	1	research	research	NOUN
fbem-18916	244	2	conclusion	conclusion	NOUN
fbem-18916	244	3	based	base	VERB
fbem-18916	244	4	on	on	ADP
fbem-18916	244	5	the	the	DET
fbem-18916	244	6	garch	garch	NOUN
fbem-18916	244	7	and	and	CCONJ
fbem-18916	244	8	var	var	NOUN
fbem-18916	244	9	models	model	NOUN
fbem-18916	244	10	,	,	PUNCT
fbem-18916	244	11	this	this	DET
fbem-18916	244	12	study	study	NOUN
fbem-18916	244	13	utilized	utilize	VERB
fbem-18916	244	14	weekly	weekly	ADJ
fbem-18916	244	15	return	return	NOUN
fbem-18916	244	16	rate	rate	NOUN
fbem-18916	244	17	data	datum	NOUN
fbem-18916	244	18	of	of	ADP
fbem-18916	244	19	digital	digital	ADJ
fbem-18916	244	20	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	244	21	such	such	ADJ
fbem-18916	244	22	as	as	ADP
fbem-18916	244	23	bitcoin	bitcoin	ADJ
fbem-18916	244	24	and	and	CCONJ
fbem-18916	244	25	traditional	traditional	ADJ
fbem-18916	244	26	non	non	ADJ
fbem-18916	244	27	-	-	ADJ
fbem-18916	244	28	digital	digital	ADJ
fbem-18916	244	29	assets	asset	NOUN
fbem-18916	244	30	market	market	NOUN
fbem-18916	244	31	indices	index	NOUN
fbem-18916	244	32	including	include	VERB
fbem-18916	244	33	stocks	stock	NOUN
fbem-18916	244	34	,	,	PUNCT
fbem-18916	244	35	bonds	bond	NOUN
fbem-18916	244	36	,	,	PUNCT
fbem-18916	244	37	gold	gold	NOUN
fbem-18916	244	38	,	,	PUNCT
fbem-18916	244	39	and	and	CCONJ
fbem-18916	244	40	commodities	commodity	NOUN
fbem-18916	244	41	from	from	ADP
fbem-18916	244	42	july	july	PROPN
fbem-18916	244	43	2017	2017	NUM
fbem-18916	244	44	to	to	ADP
fbem-18916	244	45	december	december	PROPN
fbem-18916	244	46	2021	2021	NUM
fbem-18916	244	47	.	.	PUNCT
fbem-18916	245	1	by	by	ADP
fbem-18916	245	2	using	use	VERB
fbem-18916	245	3	eviews	eviews	PROPN
fbem-18916	245	4	and	and	CCONJ
fbem-18916	245	5	excel	excel	PROPN
fbem-18916	245	6	software	software	NOUN
fbem-18916	245	7	,	,	PUNCT
fbem-18916	245	8	the	the	DET
fbem-18916	245	9	study	study	NOUN
fbem-18916	245	10	investigated	investigate	VERB
fbem-18916	245	11	the	the	DET
fbem-18916	245	12	issues	issue	NOUN
fbem-18916	245	13	of	of	ADP
fbem-18916	245	14	tail	tail	NOUN
fbem-18916	245	15	risk	risk	NOUN
fbem-18916	245	16	in	in	ADP
fbem-18916	245	17	digital	digital	ADJ
fbem-18916	245	18	assets	asset	NOUN
fbem-18916	245	19	and	and	CCONJ
fbem-18916	245	20	portfolio	portfolio	NOUN
fbem-18916	245	21	analysis	analysis	NOUN
fbem-18916	245	22	from	from	ADP
fbem-18916	245	23	the	the	DET
fbem-18916	245	24	perspectives	perspective	NOUN
fbem-18916	245	25	of	of	ADP
fbem-18916	245	26	tail	tail	NOUN
fbem-18916	245	27	risk	risk	NOUN
fbem-18916	245	28	measurement	measurement	NOUN
fbem-18916	245	29	and	and	CCONJ
fbem-18916	245	30	hedging	hedging	NOUN
fbem-18916	245	31	diversification	diversification	NOUN
fbem-18916	245	32	effects	effect	NOUN
fbem-18916	245	33	.	.	PUNCT
fbem-18916	246	1	the	the	DET
fbem-18916	246	2	main	main	ADJ
fbem-18916	246	3	research	research	NOUN
fbem-18916	246	4	conclusions	conclusion	NOUN
fbem-18916	246	5	are	be	AUX
fbem-18916	246	6	as	as	SCONJ
fbem-18916	246	7	follows	follow	VERB
fbem-18916	246	8	:	:	PUNCT
fbem-18916	246	9	(	(	PUNCT
fbem-18916	246	10	1	1	X
fbem-18916	246	11	)	)	PUNCT
fbem-18916	246	12	during	during	ADP
fbem-18916	246	13	the	the	DET
fbem-18916	246	14	sample	sample	NOUN
fbem-18916	246	15	period	period	NOUN
fbem-18916	246	16	,	,	PUNCT
fbem-18916	246	17	the	the	DET
fbem-18916	246	18	volatility	volatility	NOUN
fbem-18916	246	19	of	of	ADP
fbem-18916	246	20	cryptocurrency	cryptocurrency	NOUN
fbem-18916	246	21	returns	return	NOUN
fbem-18916	246	22	was	be	AUX
fbem-18916	246	23	significant	significant	ADJ
fbem-18916	246	24	,	,	PUNCT
fbem-18916	246	25	and	and	CCONJ
fbem-18916	246	26	there	there	PRON
fbem-18916	246	27	existed	exist	VERB
fbem-18916	246	28	weak	weak	ADJ
fbem-18916	246	29	correlations	correlation	NOUN
fbem-18916	246	30	with	with	ADP
fbem-18916	246	31	returns	return	NOUN
fbem-18916	246	32	of	of	ADP
fbem-18916	246	33	non	non	ADJ
fbem-18916	246	34	-	-	ADJ
fbem-18916	246	35	digital	digital	ADJ
fbem-18916	246	36	traditional	traditional	ADJ
fbem-18916	246	37	assets	asset	NOUN
fbem-18916	246	38	.	.	PUNCT
fbem-18916	247	1	further	further	ADJ
fbem-18916	247	2	analysis	analysis	NOUN
fbem-18916	247	3	indicated	indicate	VERB
fbem-18916	247	4	that	that	SCONJ
fbem-18916	247	5	stock	stock	NOUN
fbem-18916	247	6	and	and	CCONJ
fbem-18916	247	7	bond	bond	NOUN
fbem-18916	247	8	markets	market	NOUN
fbem-18916	247	9	have	have	VERB
fbem-18916	247	10	hedging	hedging	NOUN
fbem-18916	247	11	effects	effect	NOUN
fbem-18916	247	12	on	on	ADP
fbem-18916	247	13	digital	digital	ADJ
fbem-18916	247	14	assets	asset	NOUN
fbem-18916	247	15	,	,	PUNCT
fbem-18916	247	16	while	while	SCONJ
fbem-18916	247	17	gold	gold	NOUN
fbem-18916	247	18	and	and	CCONJ
fbem-18916	247	19	commodity	commodity	NOUN
fbem-18916	247	20	markets	market	NOUN
fbem-18916	247	21	have	have	VERB
fbem-18916	247	22	weaker	weak	ADJ
fbem-18916	247	23	hedging	hedging	NOUN
fbem-18916	247	24	effects	effect	NOUN
fbem-18916	247	25	.	.	PUNCT
fbem-18916	248	1	(	(	PUNCT
fbem-18916	248	2	2	2	X
fbem-18916	248	3	)	)	PUNCT
fbem-18916	248	4	adding	add	VERB
fbem-18916	248	5	traditional	traditional	ADJ
fbem-18916	248	6	investment	investment	NOUN
fbem-18916	248	7	portfolios	portfolio	NOUN
fbem-18916	248	8	to	to	ADP
fbem-18916	248	9	digital	digital	ADJ
fbem-18916	248	10	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	248	11	can	can	AUX
fbem-18916	248	12	enhance	enhance	VERB
fbem-18916	248	13	portfolio	portfolio	NOUN
fbem-18916	248	14	returns	return	NOUN
fbem-18916	248	15	and	and	CCONJ
fbem-18916	248	16	risk	risk	NOUN
fbem-18916	248	17	-	-	PUNCT
fbem-18916	248	18	return	return	NOUN
fbem-18916	248	19	ratios	ratio	NOUN
fbem-18916	248	20	,	,	PUNCT
fbem-18916	248	21	indicating	indicate	VERB
fbem-18916	248	22	that	that	SCONJ
fbem-18916	248	23	certain	certain	ADJ
fbem-18916	248	24	traditional	traditional	ADJ
fbem-18916	248	25	assets	asset	NOUN
fbem-18916	248	26	can	can	AUX
fbem-18916	248	27	hedge	hedge	VERB
fbem-18916	248	28	against	against	ADP
fbem-18916	248	29	the	the	DET
fbem-18916	248	30	tail	tail	NOUN
fbem-18916	248	31	risk	risk	NOUN
fbem-18916	248	32	of	of	ADP
fbem-18916	248	33	digital	digital	ADJ
fbem-18916	248	34	assets	asset	NOUN
fbem-18916	248	35	to	to	ADP
fbem-18916	248	36	some	some	DET
fbem-18916	248	37	extent	extent	NOUN
fbem-18916	248	38	.	.	PUNCT
fbem-18916	249	1	6.2	6.2	NUM
fbem-18916	249	2	.	.	PUNCT
fbem-18916	249	3	implications	implication	NOUN
fbem-18916	249	4	in	in	ADP
fbem-18916	249	5	recent	recent	ADJ
fbem-18916	249	6	years	year	NOUN
fbem-18916	249	7	,	,	PUNCT
fbem-18916	249	8	digital	digital	ADJ
fbem-18916	249	9	technology	technology	NOUN
fbem-18916	249	10	has	have	AUX
fbem-18916	249	11	continuously	continuously	ADV
fbem-18916	249	12	progressed	progress	VERB
fbem-18916	249	13	and	and	CCONJ
fbem-18916	249	14	been	be	AUX
fbem-18916	249	15	applied	apply	VERB
fbem-18916	249	16	in	in	ADP
fbem-18916	249	17	various	various	ADJ
fbem-18916	249	18	fields	field	NOUN
fbem-18916	249	19	,	,	PUNCT
fbem-18916	249	20	leading	lead	VERB
fbem-18916	249	21	to	to	ADP
fbem-18916	249	22	the	the	DET
fbem-18916	249	23	booming	booming	ADJ
fbem-18916	249	24	development	development	NOUN
fbem-18916	249	25	of	of	ADP
fbem-18916	249	26	digital	digital	ADJ
fbem-18916	249	27	assets	asset	NOUN
fbem-18916	249	28	such	such	ADJ
fbem-18916	249	29	as	as	ADP
fbem-18916	249	30	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	249	31	and	and	CCONJ
fbem-18916	249	32	digital	digital	ADJ
fbem-18916	249	33	currency	currency	NOUN
fbem-18916	249	34	investments	investment	NOUN
fbem-18916	249	35	worldwide	worldwide	ADV
fbem-18916	249	36	.	.	PUNCT
fbem-18916	250	1	combining	combine	VERB
fbem-18916	250	2	the	the	DET
fbem-18916	250	3	research	research	NOUN
fbem-18916	250	4	results	result	NOUN
fbem-18916	250	5	mentioned	mention	VERB
fbem-18916	250	6	above	above	ADV
fbem-18916	250	7	,	,	PUNCT
fbem-18916	250	8	the	the	DET
fbem-18916	250	9	following	follow	VERB
fbem-18916	250	10	implications	implication	NOUN
fbem-18916	250	11	are	be	AUX
fbem-18916	250	12	proposed	propose	VERB
fbem-18916	250	13	:	:	PUNCT
fbem-18916	250	14	(	(	PUNCT
fbem-18916	250	15	1	1	X
fbem-18916	250	16	)	)	PUNCT
fbem-18916	250	17	it	it	PRON
fbem-18916	250	18	is	be	AUX
fbem-18916	250	19	essential	essential	ADJ
fbem-18916	250	20	to	to	PART
fbem-18916	250	21	approach	approach	VERB
fbem-18916	250	22	and	and	CCONJ
fbem-18916	250	23	invest	invest	VERB
fbem-18916	250	24	in	in	ADP
fbem-18916	250	25	digital	digital	ADJ
fbem-18916	250	26	assets	asset	NOUN
fbem-18916	250	27	rationally	rationally	ADV
fbem-18916	250	28	.	.	PUNCT
fbem-18916	251	1	as	as	ADP
fbem-18916	251	2	a	a	DET
fbem-18916	251	3	new	new	ADJ
fbem-18916	251	4	type	type	NOUN
fbem-18916	251	5	of	of	ADP
fbem-18916	251	6	asset	asset	NOUN
fbem-18916	251	7	,	,	PUNCT
fbem-18916	251	8	the	the	DET
fbem-18916	251	9	returns	return	NOUN
fbem-18916	251	10	of	of	ADP
fbem-18916	251	11	digital	digital	ADJ
fbem-18916	251	12	assets	asset	NOUN
fbem-18916	251	13	indeed	indeed	ADV
fbem-18916	251	14	surpass	surpass	VERB
fbem-18916	251	15	many	many	ADJ
fbem-18916	251	16	traditional	traditional	ADJ
fbem-18916	251	17	investment	investment	NOUN
fbem-18916	251	18	targets	target	NOUN
fbem-18916	251	19	.	.	PUNCT
fbem-18916	252	1	however	however	ADV
fbem-18916	252	2	,	,	PUNCT
fbem-18916	252	3	they	they	PRON
fbem-18916	252	4	also	also	ADV
fbem-18916	252	5	come	come	VERB
fbem-18916	252	6	with	with	ADP
fbem-18916	252	7	significant	significant	ADJ
fbem-18916	252	8	risks	risk	NOUN
fbem-18916	252	9	,	,	PUNCT
fbem-18916	252	10	often	often	ADV
fbem-18916	252	11	leading	lead	VERB
fbem-18916	252	12	to	to	ADP
fbem-18916	252	13	losses	loss	NOUN
fbem-18916	252	14	exceeding	exceed	VERB
fbem-18916	252	15	risk	risk	NOUN
fbem-18916	252	16	tolerance	tolerance	NOUN
fbem-18916	252	17	for	for	ADP
fbem-18916	252	18	those	those	PRON
fbem-18916	252	19	with	with	ADP
fbem-18916	252	20	limited	limited	ADJ
fbem-18916	252	21	understanding	understanding	NOUN
fbem-18916	252	22	.	.	PUNCT
fbem-18916	253	1	therefore	therefore	ADV
fbem-18916	253	2	,	,	PUNCT
fbem-18916	253	3	it	it	PRON
fbem-18916	253	4	is	be	AUX
fbem-18916	253	5	crucial	crucial	ADJ
fbem-18916	253	6	to	to	PART
fbem-18916	253	7	invest	invest	VERB
fbem-18916	253	8	appropriately	appropriately	ADV
fbem-18916	253	9	in	in	ADP
fbem-18916	253	10	digital	digital	ADJ
fbem-18916	253	11	cryptocurrencies	cryptocurrencie	NOUN
fbem-18916	253	12	under	under	ADP
fbem-18916	253	13	full	full	ADJ
fbem-18916	253	14	understanding	understanding	NOUN
fbem-18916	253	15	and	and	CCONJ
fbem-18916	253	16	capacity	capacity	NOUN
fbem-18916	253	17	to	to	PART
fbem-18916	253	18	bear	bear	VERB
fbem-18916	253	19	risks	risk	NOUN
fbem-18916	253	20	.	.	PUNCT
fbem-18916	254	1	(	(	PUNCT
fbem-18916	254	2	2	2	X
fbem-18916	254	3	)	)	PUNCT
fbem-18916	254	4	selectively	selectively	ADV
fbem-18916	254	5	invest	invest	VERB
fbem-18916	254	6	in	in	ADP
fbem-18916	254	7	high	high	ADJ
fbem-18916	254	8	-	-	PUNCT
fbem-18916	254	9	quality	quality	NOUN
fbem-18916	254	10	digital	digital	ADJ
fbem-18916	254	11	assets	asset	NOUN
fbem-18916	254	12	to	to	PART
fbem-18916	254	13	reduce	reduce	VERB
fbem-18916	254	14	or	or	CCONJ
fbem-18916	254	15	even	even	ADV
fbem-18916	254	16	avoid	avoid	VERB
fbem-18916	254	17	investment	investment	NOUN
fbem-18916	254	18	risks	risk	NOUN
fbem-18916	254	19	associated	associate	VERB
fbem-18916	254	20	with	with	ADP
fbem-18916	254	21	investing	invest	VERB
fbem-18916	254	22	in	in	ADP
fbem-18916	254	23	other	other	ADJ
fbem-18916	254	24	asset	asset	NOUN
fbem-18916	254	25	classes	class	NOUN
fbem-18916	254	26	.	.	PUNCT
fbem-18916	255	1	despite	despite	SCONJ
fbem-18916	255	2	the	the	DET
fbem-18916	255	3	significant	significant	ADJ
fbem-18916	255	4	tail	tail	NOUN
fbem-18916	255	5	risk	risk	NOUN
fbem-18916	255	6	of	of	ADP
fbem-18916	255	7	digital	digital	ADJ
fbem-18916	255	8	assets	asset	NOUN
fbem-18916	255	9	mentioned	mention	VERB
fbem-18916	255	10	in	in	ADP
fbem-18916	255	11	the	the	DET
fbem-18916	255	12	research	research	NOUN
fbem-18916	255	13	,	,	PUNCT
fbem-18916	255	14	it	it	PRON
fbem-18916	255	15	is	be	AUX
fbem-18916	255	16	indeed	indeed	ADV
fbem-18916	255	17	possible	possible	ADJ
fbem-18916	255	18	to	to	PART
fbem-18916	255	19	substantially	substantially	ADV
fbem-18916	255	20	reduce	reduce	VERB
fbem-18916	255	21	the	the	DET
fbem-18916	255	22	risk	risk	NOUN
fbem-18916	255	23	of	of	ADP
fbem-18916	255	24	digital	digital	ADJ
fbem-18916	255	25	assets	asset	NOUN
fbem-18916	255	26	through	through	ADP
fbem-18916	255	27	portfolio	portfolio	NOUN
fbem-18916	255	28	investment	investment	NOUN
fbem-18916	255	29	,	,	PUNCT
fbem-18916	255	30	thereby	thereby	ADV
fbem-18916	255	31	bringing	bring	VERB
fbem-18916	255	32	substantial	substantial	ADJ
fbem-18916	255	33	returns	return	NOUN
fbem-18916	255	34	.	.	PUNCT
fbem-18916	256	1	references	reference	NOUN
fbem-18916	256	2	[	[	X
fbem-18916	256	3	1	1	NUM
fbem-18916	256	4	]	]	PUNCT
fbem-18916	256	5	kud	kud	VERB
fbem-18916	256	6	a	a	DET
fbem-18916	256	7	a.	a.	NOUN
fbem-18916	256	8	substantiation	substantiation	NOUN
fbem-18916	256	9	of	of	ADP
fbem-18916	256	10	the	the	DET
fbem-18916	256	11	term	term	NOUN
fbem-18916	256	12	“	"	PUNCT
fbem-18916	256	13	digital	digital	ADJ
fbem-18916	256	14	asset	asset	NOUN
fbem-18916	256	15	”	"	PUNCT
fbem-18916	256	16	:	:	PUNCT
fbem-18916	256	17	economic	economic	ADJ
fbem-18916	256	18	and	and	CCONJ
fbem-18916	256	19	legal	legal	ADJ
fbem-18916	256	20	aspects[j	aspects[j	PROPN
fbem-18916	256	21	]	]	PUNCT
fbem-18916	256	22	.	.	PUNCT
fbem-18916	256	23	2019	2019	NUM
fbem-18916	256	24	.	.	PUNCT
fbem-18916	257	1	[	[	X
fbem-18916	257	2	2	2	NUM
fbem-18916	257	3	]	]	X
fbem-18916	257	4	liu	liu	PROPN
fbem-18916	257	5	,	,	PUNCT
fbem-18916	257	6	z.	z.	PROPN
fbem-18916	257	7	z.	z.	PROPN
fbem-18916	257	8	,	,	PUNCT
fbem-18916	257	9	&	&	CCONJ
fbem-18916	257	10	ben	ben	PROPN
fbem-18916	257	11	,	,	PUNCT
fbem-18916	257	12	s.	s.	PROPN
fbem-18916	257	13	l.	l.	PROPN
fbem-18916	257	14	research	research	PROPN
fbem-18916	257	15	on	on	ADP
fbem-18916	257	16	theory	theory	NOUN
fbem-18916	257	17	and	and	CCONJ
fbem-18916	257	18	practice	practice	NOUN
fbem-18916	257	19	of	of	ADP
fbem-18916	257	20	digital	digital	ADJ
fbem-18916	257	21	currency[j	currency[j	NOUN
fbem-18916	257	22	/	/	SYM
fbem-18916	257	23	ol	ol	ADJ
fbem-18916	257	24	]	]	PUNCT
fbem-18916	257	25	.	.	PUNCT
fbem-18916	258	1	southwest	southwest	PROPN
fbem-18916	258	2	finance	finance	NOUN
fbem-18916	258	3	:	:	PUNCT
fbem-18916	258	4	1	1	NUM
fbem-18916	258	5	-	-	SYM
fbem-18916	258	6	13[2022	13[2022	NUM
fbem-18916	258	7	-	-	PUNCT
fbem-18916	258	8	04	04	NUM
fbem-18916	258	9	-	-	SYM
fbem-18916	258	10	12	12	NUM
fbem-18916	258	11	]	]	PUNCT
fbem-18916	258	12	.	.	PUNCT
fbem-18916	259	1	[	[	X
fbem-18916	259	2	3	3	X
fbem-18916	259	3	]	]	X
fbem-18916	259	4	borri	borri	NOUN
fbem-18916	259	5	n.	n.	PROPN
fbem-18916	259	6	conditional	conditional	ADJ
fbem-18916	259	7	tail	tail	NOUN
fbem-18916	259	8	-	-	PUNCT
fbem-18916	259	9	risk	risk	NOUN
fbem-18916	259	10	in	in	ADP
fbem-18916	259	11	cryptocurrency	cryptocurrency	NOUN
fbem-18916	259	12	markets[j	markets[j	NOUN
fbem-18916	259	13	]	]	PUNCT
fbem-18916	259	14	.	.	PUNCT
fbem-18916	260	1	journal	journal	PROPN
fbem-18916	260	2	of	of	ADP
fbem-18916	260	3	empirical	empirical	ADJ
fbem-18916	260	4	finance	finance	NOUN
fbem-18916	260	5	,	,	PUNCT
fbem-18916	260	6	2019	2019	NUM
fbem-18916	260	7	,	,	PUNCT
fbem-18916	260	8	50	50	NUM
fbem-18916	260	9	:	:	SYM
fbem-18916	260	10	1	1	NUM
fbem-18916	260	11	-	-	SYM
fbem-18916	260	12	19	19	NUM
fbem-18916	260	13	.	.	PUNCT
fbem-18916	261	1	[	[	X
fbem-18916	261	2	4	4	X
fbem-18916	261	3	]	]	X
fbem-18916	261	4	ardia	ardia	NOUN
fbem-18916	261	5	d	d	PROPN
fbem-18916	261	6	,	,	PUNCT
fbem-18916	261	7	bluteau	bluteau	PROPN
fbem-18916	261	8	k	k	PROPN
fbem-18916	261	9	,	,	PUNCT
fbem-18916	261	10	rüede	rüede	NOUN
fbem-18916	261	11	m.	m.	NOUN
fbem-18916	261	12	regime	regime	NOUN
fbem-18916	261	13	changes	change	NOUN
fbem-18916	261	14	in	in	ADP
fbem-18916	261	15	bitcoin	bitcoin	ADJ
fbem-18916	261	16	garch	garch	NOUN
fbem-18916	261	17	volatility	volatility	NOUN
fbem-18916	261	18	dynamics[j	dynamics[j	PROPN
fbem-18916	261	19	]	]	PUNCT
fbem-18916	261	20	.	.	PUNCT
fbem-18916	262	1	finance	finance	NOUN
fbem-18916	262	2	research	research	NOUN
fbem-18916	262	3	letters	letter	NOUN
fbem-18916	262	4	,	,	PUNCT
fbem-18916	262	5	2019	2019	NUM
fbem-18916	262	6	,	,	PUNCT
fbem-18916	262	7	29	29	NUM
fbem-18916	262	8	:	:	SYM
fbem-18916	262	9	266	266	NUM
fbem-18916	262	10	-	-	SYM
fbem-18916	262	11	271	271	NUM
fbem-18916	262	12	.	.	PUNCT
fbem-18916	263	1	[	[	X
fbem-18916	263	2	5	5	X
fbem-18916	263	3	]	]	PUNCT
fbem-18916	263	4	catania	catania	PROPN
fbem-18916	263	5	l	l	PROPN
fbem-18916	263	6	,	,	PUNCT
fbem-18916	263	7	grassi	grassi	PROPN
fbem-18916	263	8	s	s	PROPN
fbem-18916	263	9	,	,	PUNCT
fbem-18916	263	10	ravazzolo	ravazzolo	PROPN
fbem-18916	263	11	f.	f.	PROPN
fbem-18916	263	12	predicting	predict	VERB
fbem-18916	263	13	the	the	DET
fbem-18916	263	14	volatility	volatility	NOUN
fbem-18916	263	15	of	of	ADP
fbem-18916	263	16	cryptocurrency	cryptocurrency	NOUN
fbem-18916	263	17	time	time	NOUN
fbem-18916	263	18	-	-	PUNCT
fbem-18916	263	19	series[m]//mathematical	series[m]//mathematical	ADJ
fbem-18916	263	20	and	and	CCONJ
fbem-18916	263	21	statistical	statistical	ADJ
fbem-18916	263	22	methods	method	NOUN
fbem-18916	263	23	for	for	ADP
fbem-18916	263	24	actuarial	actuarial	ADJ
fbem-18916	263	25	sciences	science	NOUN
fbem-18916	263	26	and	and	CCONJ
fbem-18916	263	27	finance	finance	NOUN
fbem-18916	263	28	.	.	PUNCT
fbem-18916	264	1	springer	springer	PROPN
fbem-18916	264	2	,	,	PUNCT
fbem-18916	264	3	cham	cham	PROPN
fbem-18916	264	4	,	,	PUNCT
fbem-18916	264	5	2018	2018	NUM
fbem-18916	264	6	:	:	PUNCT
fbem-18916	264	7	203	203	NUM
fbem-18916	264	8	-	-	SYM
fbem-18916	264	9	207	207	NUM
fbem-18916	264	10	.	.	PUNCT
fbem-18916	265	1	[	[	X
fbem-18916	265	2	6	6	NUM
fbem-18916	265	3	]	]	PUNCT
fbem-18916	265	4	cremers	cremer	NOUN
fbem-18916	265	5	j	j	PROPN
fbem-18916	265	6	h	h	PROPN
fbem-18916	265	7	,	,	PUNCT
fbem-18916	265	8	kritzman	kritzman	PROPN
fbem-18916	265	9	m	m	PROPN
fbem-18916	265	10	,	,	PUNCT
fbem-18916	265	11	page	page	NOUN
fbem-18916	265	12	s.	s.	PROPN
fbem-18916	265	13	portfolio	portfolio	PROPN
fbem-18916	265	14	formation	formation	NOUN
fbem-18916	265	15	with	with	ADP
fbem-18916	265	16	higher	high	ADJ
fbem-18916	265	17	moments	moment	NOUN
fbem-18916	265	18	and	and	CCONJ
fbem-18916	265	19	plausible	plausible	ADJ
fbem-18916	265	20	utility[j	utility[j	NOUN
fbem-18916	265	21	]	]	PUNCT
fbem-18916	265	22	.	.	PUNCT
fbem-18916	266	1	revere	revere	VERB
fbem-18916	266	2	street	street	NOUN
fbem-18916	266	3	working	working	PROPN
fbem-18916	266	4	paper	paper	NOUN
fbem-18916	266	5	series	series	NOUN
fbem-18916	266	6	in	in	ADP
fbem-18916	266	7	financial	financial	ADJ
fbem-18916	266	8	economics	economic	NOUN
fbem-18916	266	9	272	272	NUM
fbem-18916	266	10	-	-	SYM
fbem-18916	266	11	12	12	NUM
fbem-18916	266	12	,	,	PUNCT
fbem-18916	266	13	2003	2003	NUM
fbem-18916	266	14	.	.	PUNCT
fbem-18916	267	1	[	[	X
fbem-18916	267	2	7	7	X
fbem-18916	267	3	]	]	X
fbem-18916	267	4	girardi	girardi	PROPN
fbem-18916	267	5	g	g	PROPN
fbem-18916	267	6	,	,	PUNCT
fbem-18916	267	7	ergün	ergün	VERB
fbem-18916	267	8	a	a	DET
fbem-18916	267	9	t.	t.	ADJ
fbem-18916	267	10	systemic	systemic	ADJ
fbem-18916	267	11	risk	risk	NOUN
fbem-18916	267	12	measurement	measurement	NOUN
fbem-18916	267	13	:	:	PUNCT
fbem-18916	267	14	multivariate	multivariate	NOUN
fbem-18916	267	15	garch	garch	NOUN
fbem-18916	267	16	estimation	estimation	NOUN
fbem-18916	267	17	of	of	ADP
fbem-18916	267	18	covar[j	covar[j	PROPN
fbem-18916	267	19	]	]	PUNCT
fbem-18916	267	20	.	.	PUNCT
fbem-18916	268	1	journal	journal	PROPN
fbem-18916	268	2	of	of	ADP
fbem-18916	268	3	banking	banking	NOUN
fbem-18916	268	4	&	&	CCONJ
fbem-18916	268	5	finance	finance	PROPN
fbem-18916	268	6	,	,	PUNCT
fbem-18916	268	7	2013	2013	NUM
fbem-18916	268	8	,	,	PUNCT
fbem-18916	268	9	37(8	37(8	NUM
fbem-18916	268	10	):	):	PUNCT
fbem-18916	268	11	3169	3169	NUM
fbem-18916	268	12	-	-	SYM
fbem-18916	268	13	3180	3180	NUM
fbem-18916	268	14	.	.	PUNCT
fbem-18916	269	1	[	[	X
fbem-18916	269	2	8	8	NUM
fbem-18916	269	3	]	]	PUNCT
fbem-18916	269	4	mainik	mainik	X
fbem-18916	269	5	g	g	PROPN
fbem-18916	269	6	,	,	PUNCT
fbem-18916	269	7	schaanning	schaanne	VERB
fbem-18916	269	8	e.	e.	PROPN
fbem-18916	269	9	on	on	ADP
fbem-18916	269	10	dependence	dependence	NOUN
fbem-18916	269	11	consistency	consistency	NOUN
fbem-18916	269	12	of	of	ADP
fbem-18916	269	13	covarand	covarand	NOUN
fbem-18916	269	14	some	some	DET
fbem-18916	269	15	other	other	ADJ
fbem-18916	269	16	systemic	systemic	ADJ
fbem-18916	269	17	risk	risk	NOUN
fbem-18916	269	18	measures[j	measures[j	PROPN
fbem-18916	269	19	]	]	PUNCT
fbem-18916	269	20	.	.	PUNCT
fbem-18916	270	1	statistics	statistic	NOUN
fbem-18916	270	2	&	&	CCONJ
fbem-18916	270	3	risk	risk	PROPN
fbem-18916	270	4	modeling	modeling	NOUN
fbem-18916	270	5	,	,	PUNCT
fbem-18916	270	6	2014	2014	NUM
fbem-18916	270	7	,	,	PUNCT
fbem-18916	270	8	31(1	31(1	NUM
fbem-18916	270	9	):	):	PUNCT
fbem-18916	270	10	49	49	NUM
fbem-18916	270	11	-	-	SYM
fbem-18916	270	12	77	77	NUM
fbem-18916	270	13	.	.	PUNCT
fbem-18916	271	1	[	[	X
fbem-18916	271	2	9	9	NUM
fbem-18916	271	3	]	]	X
fbem-18916	271	4	dyhrberg	dyhrberg	PROPN
fbem-18916	271	5	a	a	DET
fbem-18916	271	6	h.	h.	PROPN
fbem-18916	271	7	hedging	hedge	VERB
fbem-18916	271	8	capabilities	capability	NOUN
fbem-18916	271	9	of	of	ADP
fbem-18916	271	10	bitcoin	bitcoin	NOUN
fbem-18916	271	11	:	:	PUNCT
fbem-18916	271	12	is	be	AUX
fbem-18916	271	13	it	it	PRON
fbem-18916	271	14	the	the	DET
fbem-18916	271	15	virtual	virtual	ADJ
fbem-18916	271	16	gold[j	gold[j	PROPN
fbem-18916	271	17	]	]	PUNCT
fbem-18916	271	18	.	.	PUNCT
fbem-18916	272	1	working	work	VERB
fbem-18916	272	2	papers	paper	NOUN
fbem-18916	272	3	,	,	PUNCT
fbem-18916	272	4	2015	2015	NUM
fbem-18916	272	5	,	,	PUNCT
fbem-18916	272	6	16:139	16:139	NUM
fbem-18916	272	7	-	-	SYM
fbem-18916	272	8	144	144	NUM
fbem-18916	272	9	.	.	PUNCT
fbem-18916	273	1	[	[	X
fbem-18916	273	2	10	10	NUM
fbem-18916	273	3	]	]	X
fbem-18916	273	4	baur	baur	PROPN
fbem-18916	273	5	d	d	PROPN
fbem-18916	273	6	g	g	PROPN
fbem-18916	273	7	,	,	PUNCT
fbem-18916	273	8	lucey	lucey	PROPN
fbem-18916	273	9	b	b	PROPN
fbem-18916	273	10	m.	m.	NOUN
fbem-18916	273	11	is	be	AUX
fbem-18916	273	12	gold	gold	NOUN
fbem-18916	273	13	a	a	DET
fbem-18916	273	14	hedge	hedge	NOUN
fbem-18916	273	15	or	or	CCONJ
fbem-18916	273	16	a	a	DET
fbem-18916	273	17	safe	safe	ADJ
fbem-18916	273	18	haven	haven	NOUN
fbem-18916	273	19	?	?	PUNCT
fbem-18916	274	1	an	an	DET
fbem-18916	274	2	analysis	analysis	NOUN
fbem-18916	274	3	of	of	ADP
fbem-18916	274	4	stocks	stock	NOUN
fbem-18916	274	5	,	,	PUNCT
fbem-18916	274	6	bonds	bond	NOUN
fbem-18916	274	7	and	and	CCONJ
fbem-18916	274	8	gold[j	gold[j	NOUN
fbem-18916	274	9	]	]	PUNCT
fbem-18916	274	10	.	.	PUNCT
fbem-18916	275	1	financial	financial	PROPN
fbem-18916	275	2	review	review	PROPN
fbem-18916	275	3	,	,	PUNCT
fbem-18916	275	4	2010	2010	NUM
fbem-18916	275	5	,	,	PUNCT
fbem-18916	275	6	45(2	45(2	NOUN
fbem-18916	275	7	):	):	PUNCT
fbem-18916	275	8	217	217	NUM
fbem-18916	275	9	-	-	SYM
fbem-18916	275	10	229	229	NUM
fbem-18916	275	11	.	.	PUNCT
fbem-18916	276	1	[	[	X
fbem-18916	276	2	11	11	NUM
fbem-18916	276	3	]	]	X
fbem-18916	276	4	briere	briere	PROPN
fbem-18916	276	5	m	m	PROPN
fbem-18916	276	6	,	,	PUNCT
fbem-18916	276	7	oosterlinck	oosterlinck	NOUN
fbem-18916	276	8	k	k	NOUN
fbem-18916	276	9	,	,	PUNCT
fbem-18916	276	10	szafarz	szafarz	PROPN
fbem-18916	276	11	a.	a.	PROPN
fbem-18916	276	12	virtual	virtual	ADJ
fbem-18916	276	13	currency	currency	NOUN
fbem-18916	276	14	,	,	PUNCT
fbem-18916	276	15	tangible	tangible	ADJ
fbem-18916	276	16	return	return	NOUN
fbem-18916	276	17	:	:	PUNCT
fbem-18916	276	18	portfolio	portfolio	NOUN
fbem-18916	276	19	diversification	diversification	NOUN
fbem-18916	276	20	with	with	ADP
fbem-18916	276	21	bitcoin[j	bitcoin[j	PROPN
fbem-18916	276	22	]	]	PUNCT
fbem-18916	276	23	.	.	PUNCT
fbem-18916	277	1	journal	journal	PROPN
fbem-18916	277	2	of	of	ADP
fbem-18916	277	3	asset	asset	NOUN
fbem-18916	277	4	management	management	NOUN
fbem-18916	277	5	,	,	PUNCT
fbem-18916	277	6	2015	2015	NUM
fbem-18916	277	7	,	,	PUNCT
fbem-18916	277	8	16(6	16(6	NUM
fbem-18916	277	9	):	):	PUNCT
fbem-18916	277	10	365	365	NUM
fbem-18916	277	11	-	-	SYM
fbem-18916	277	12	373	373	NUM
fbem-18916	277	13	.	.	PUNCT
fbem-18916	278	1	[	[	X
fbem-18916	278	2	12	12	NUM
fbem-18916	278	3	]	]	PUNCT
fbem-18916	278	4	stavroyiannis	stavroyiannis	NOUN
fbem-18916	278	5	s	s	PART
fbem-18916	278	6	,	,	PUNCT
fbem-18916	278	7	babalos	babalo	NOUN
fbem-18916	278	8	v.	v.	ADP
fbem-18916	278	9	dynamic	dynamic	ADJ
fbem-18916	278	10	properties	property	NOUN
fbem-18916	278	11	of	of	ADP
fbem-18916	278	12	the	the	DET
fbem-18916	278	13	bitcoin	bitcoin	NOUN
fbem-18916	278	14	and	and	CCONJ
fbem-18916	278	15	the	the	DET
fbem-18916	278	16	us	us	PROPN
fbem-18916	278	17	market[j	market[j	NOUN
fbem-18916	278	18	]	]	PUNCT
fbem-18916	278	19	.	.	PUNCT
fbem-18916	279	1	available	available	ADJ
fbem-18916	279	2	at	at	ADP
fbem-18916	279	3	ssrn	ssrn	PROPN
fbem-18916	279	4	2966998	2966998	NUM
fbem-18916	279	5	,	,	PUNCT
fbem-18916	279	6	2017	2017	NUM
fbem-18916	279	7	.	.	PUNCT
fbem-18916	280	1	[	[	X
fbem-18916	280	2	13	13	NUM
fbem-18916	280	3	]	]	PUNCT
fbem-18916	280	4	bouri	bouri	PROPN
fbem-18916	280	5	e	e	PROPN
fbem-18916	280	6	,	,	PUNCT
fbem-18916	280	7	molnár	molnár	PROPN
fbem-18916	280	8	p	p	NOUN
fbem-18916	280	9	,	,	PUNCT
fbem-18916	280	10	azzi	azzi	NOUN
fbem-18916	280	11	g	g	NOUN
fbem-18916	280	12	,	,	PUNCT
fbem-18916	280	13	et	et	PROPN
fbem-18916	280	14	al	al	PROPN
fbem-18916	280	15	.	.	PROPN
fbem-18916	281	1	on	on	ADP
fbem-18916	281	2	the	the	DET
fbem-18916	281	3	hedge	hedge	NOUN
fbem-18916	281	4	and	and	CCONJ
fbem-18916	281	5	safe	safe	ADJ
fbem-18916	281	6	haven	haven	NOUN
fbem-18916	281	7	properties	property	NOUN
fbem-18916	281	8	of	of	ADP
fbem-18916	281	9	bitcoin	bitcoin	NOUN
fbem-18916	281	10	:	:	PUNCT
fbem-18916	281	11	is	be	AUX
fbem-18916	281	12	it	it	PRON
fbem-18916	281	13	really	really	ADV
fbem-18916	281	14	more	more	ADJ
fbem-18916	281	15	than	than	ADP
fbem-18916	281	16	a	a	DET
fbem-18916	281	17	diversifier?[j	diversifier?[j	NOUN
fbem-18916	281	18	]	]	PUNCT
fbem-18916	281	19	.	.	PUNCT
fbem-18916	282	1	finance	finance	NOUN
fbem-18916	282	2	research	research	NOUN
fbem-18916	282	3	letters	letter	NOUN
fbem-18916	282	4	,	,	PUNCT
fbem-18916	282	5	2017	2017	NUM
fbem-18916	282	6	,	,	PUNCT
fbem-18916	282	7	20	20	NUM
fbem-18916	282	8	:	:	SYM
fbem-18916	282	9	192	192	NUM
fbem-18916	282	10	-	-	SYM
fbem-18916	282	11	198	198	NUM
fbem-18916	282	12	.	.	PUNCT
fbem-18916	283	1	[	[	X
fbem-18916	283	2	14	14	NUM
fbem-18916	283	3	]	]	SYM
fbem-18916	283	4	li	li	PROPN
fbem-18916	283	5	,	,	PUNCT
fbem-18916	283	6	x.	x.	PROPN
fbem-18916	283	7	,	,	PUNCT
fbem-18916	283	8	&	&	CCONJ
fbem-18916	283	9	liu	liu	PROPN
fbem-18916	283	10	,	,	PUNCT
fbem-18916	283	11	s.	s.	PROPN
fbem-18916	283	12	b.	b.	PROPN
fbem-18916	283	13	asset	asset	PROPN
fbem-18916	283	14	portfolio	portfolio	PROPN
fbem-18916	283	15	selection	selection	NOUN
fbem-18916	283	16	model	model	NOUN
fbem-18916	283	17	based	base	VERB
fbem-18916	283	18	on	on	ADP
fbem-18916	283	19	monte	monte	PROPN
fbem-18916	283	20	carlo	carlo	PROPN
fbem-18916	283	21	simulation[j	simulation[j	PROPN
fbem-18916	283	22	]	]	PUNCT
fbem-18916	283	23	.	.	PUNCT
fbem-18916	284	1	statistics	statistic	NOUN
fbem-18916	284	2	&	&	CCONJ
fbem-18916	284	3	decision	decision	NOUN
fbem-18916	284	4	,	,	PUNCT
fbem-18916	284	5	2015	2015	NUM
fbem-18916	284	6	,	,	PUNCT
fbem-18916	284	7	11	11	NUM
fbem-18916	284	8	:	:	SYM
fbem-18916	284	9	163	163	NUM
fbem-18916	284	10	-	-	SYM
fbem-18916	284	11	166	166	NUM
fbem-18916	284	12	.	.	PUNCT
fbem-18916	285	1	[	[	X
fbem-18916	285	2	15	15	NUM
fbem-18916	285	3	]	]	X
fbem-18916	285	4	yan	yan	PROPN
fbem-18916	285	5	,	,	PUNCT
fbem-18916	285	6	f.	f.	PROPN
fbem-18916	285	7	,	,	PUNCT
fbem-18916	285	8	xie	xie	PROPN
fbem-18916	285	9	,	,	PUNCT
fbem-18916	285	10	m.	m.	NOUN
fbem-18916	285	11	,	,	PUNCT
fbem-18916	285	12	ren	ren	PROPN
fbem-18916	285	13	,	,	PUNCT
fbem-18916	285	14	x.	x.	PROPN
fbem-18916	285	15	y.	y.	PROPN
fbem-18916	285	16	,	,	PUNCT
fbem-18916	285	17	et	et	PROPN
fbem-18916	285	18	al	al	PROPN
fbem-18916	285	19	.	.	PUNCT
fbem-18916	285	20	exploratory	exploratory	ADJ
fbem-18916	285	21	analysis	analysis	NOUN
fbem-18916	285	22	of	of	ADP
fbem-18916	285	23	factors	factor	NOUN
fbem-18916	285	24	influencing	influence	VERB
fbem-18916	285	25	bitcoin	bitcoin	ADJ
fbem-18916	285	26	prices[j	prices[j	PROPN
fbem-18916	285	27	]	]	PUNCT
fbem-18916	285	28	.	.	PUNCT
fbem-18916	286	1	think	think	VERB
fbem-18916	286	2	tank	tank	NOUN
fbem-18916	286	3	era	era	NOUN
fbem-18916	286	4	,	,	PUNCT
fbem-18916	286	5	2018	2018	NUM
fbem-18916	286	6	,	,	PUNCT
fbem-18916	286	7	30	30	NUM
fbem-18916	286	8	:	:	SYM
fbem-18916	286	9	149	149	NUM
fbem-18916	286	10	.	.	PUNCT
fbem-18916	287	1	[	[	X
fbem-18916	287	2	16	16	NUM
fbem-18916	287	3	]	]	X
fbem-18916	287	4	niu	niu	PROPN
fbem-18916	287	5	,	,	PUNCT
fbem-18916	287	6	y.	y.	PROPN
fbem-18916	287	7	m.	m.	NOUN
fbem-18916	287	8	factors	factor	NOUN
fbem-18916	287	9	influencing	influence	VERB
fbem-18916	287	10	the	the	DET
fbem-18916	287	11	price	price	NOUN
fbem-18916	287	12	formation	formation	NOUN
fbem-18916	287	13	mechanism	mechanism	NOUN
fbem-18916	287	14	of	of	ADP
fbem-18916	287	15	bitcoin[j	bitcoin[j	PROPN
fbem-18916	287	16	]	]	PUNCT
fbem-18916	287	17	.	.	PUNCT
fbem-18916	288	1	era	era	NOUN
fbem-18916	288	2	finance	finance	NOUN
fbem-18916	288	3	,	,	PUNCT
fbem-18916	288	4	2017(27):220	2017(27):220	NOUN
fbem-18916	288	5	-	-	SYM
fbem-18916	288	6	221	221	NUM
fbem-18916	288	7	.	.	PUNCT
fbem-18916	289	1	[	[	X
fbem-18916	289	2	17	17	NUM
fbem-18916	289	3	]	]	SYM
fbem-18916	289	4	li	li	PROPN
fbem-18916	289	5	,	,	PUNCT
fbem-18916	289	6	j.	j.	PROPN
fbem-18916	289	7	h.	h.	PROPN
fbem-18916	289	8	,	,	PUNCT
fbem-18916	289	9	wu	wu	PROPN
fbem-18916	289	10	,	,	PUNCT
fbem-18916	289	11	x.	x.	PROPN
fbem-18916	289	12	x.	x.	PROPN
fbem-18916	289	13	,	,	PUNCT
fbem-18916	289	14	&	&	CCONJ
fbem-18916	289	15	yan	yan	PROPN
fbem-18916	289	16	,	,	PUNCT
fbem-18916	289	17	h.	h.	PROPN
fbem-18916	289	18	y.	y.	PROPN
fbem-18916	289	19	research	research	PROPN
fbem-18916	289	20	on	on	ADP
fbem-18916	289	21	the	the	DET
fbem-18916	289	22	relationship	relationship	NOUN
fbem-18916	289	23	between	between	ADP
fbem-18916	289	24	demand	demand	NOUN
fbem-18916	289	25	and	and	CCONJ
fbem-18916	289	26	price	price	NOUN
fbem-18916	289	27	of	of	ADP
fbem-18916	289	28	bitcoin	bitcoin	NOUN
fbem-18916	289	29	based	base	VERB
fbem-18916	289	30	on	on	ADP
fbem-18916	289	31	vec	vec	PROPN
fbem-18916	289	32	model[z	model[z	PROPN
fbem-18916	289	33	]	]	PUNCT
fbem-18916	289	34	.	.	PUNCT
fbem-18916	290	1	journal	journal	PROPN
fbem-18916	290	2	of	of	ADP
fbem-18916	290	3	southwest	southwest	PROPN
fbem-18916	290	4	minzu	minzu	PROPN
fbem-18916	290	5	university	university	PROPN
fbem-18916	290	6	,	,	PUNCT
fbem-18916	290	7	2016	2016	NUM
fbem-18916	290	8	(	(	PUNCT
fbem-18916	290	9	11	11	NUM
fbem-18916	290	10	):	):	PUNCT
fbem-18916	290	11	46	46	NUM
fbem-18916	290	12	-	-	SYM
fbem-18916	290	13	61	61	NUM
fbem-18916	290	14	.	.	PUNCT
fbem-18916	291	1	[	[	X
fbem-18916	291	2	18	18	NUM
fbem-18916	291	3	]	]	X
fbem-18916	291	4	fu	fu	NOUN
fbem-18916	291	5	,	,	PUNCT
fbem-18916	291	6	z.	z.	PROPN
fbem-18916	291	7	l.	l.	PROPN
fbem-18916	291	8	empirical	empirical	ADJ
fbem-18916	291	9	research	research	NOUN
fbem-18916	291	10	on	on	ADP
fbem-18916	291	11	the	the	DET
fbem-18916	291	12	asset	asset	NOUN
fbem-18916	291	13	allocation	allocation	NOUN
fbem-18916	291	14	function	function	NOUN
fbem-18916	291	15	of	of	ADP
fbem-18916	291	16	digital	digital	ADJ
fbem-18916	291	17	cryptocurrency[d	cryptocurrency[d	PROPN
fbem-18916	291	18	]	]	PUNCT
fbem-18916	291	19	.	.	PUNCT
fbem-18916	292	1	harbin	harbin	PROPN
fbem-18916	292	2	institute	institute	PROPN
fbem-18916	292	3	of	of	ADP
fbem-18916	292	4	technology	technology	PROPN
fbem-18916	292	5	,	,	PUNCT
fbem-18916	292	6	2019	2019	NUM
fbem-18916	292	7	.	.	PUNCT
fbem-18916	293	1	[	[	X
fbem-18916	293	2	19	19	NUM
fbem-18916	293	3	]	]	SYM
fbem-18916	293	4	tu	tu	PROPN
fbem-18916	293	5	,	,	PUNCT
fbem-18916	293	6	x.	x.	NOUN
fbem-18916	293	7	s	s	PROPN
fbem-18916	293	8	,	,	PUNCT
fbem-18916	293	9	&	&	CCONJ
fbem-18916	293	10	wang	wang	PROPN
fbem-18916	293	11	,	,	PUNCT
fbem-18916	293	12	c.	c.	PROPN
fbem-18916	293	13	f.	f.	PROPN
fbem-18916	293	14	research	research	PROPN
fbem-18916	293	15	on	on	ADP
fbem-18916	293	16	the	the	DET
fbem-18916	293	17	optimal	optimal	ADJ
fbem-18916	293	18	mean	mean	ADJ
fbem-18916	293	19	-	-	PUNCT
fbem-18916	293	20	var	var	NOUN
fbem-18916	293	21	investment	investment	NOUN
fbem-18916	293	22	portfolio[j	portfolio[j	NOUN
fbem-18916	293	23	]	]	PUNCT
fbem-18916	293	24	.	.	PUNCT
fbem-18916	294	1	journal	journal	PROPN
fbem-18916	294	2	of	of	ADP
fbem-18916	294	3	xiangtan	xiangtan	PROPN
fbem-18916	294	4	university	university	PROPN
fbem-18916	294	5	:	:	PUNCT
fbem-18916	294	6	natural	natural	ADJ
fbem-18916	294	7	science	science	NOUN
fbem-18916	294	8	,	,	PUNCT
fbem-18916	294	9	2002	2002	NUM
fbem-18916	294	10	,	,	PUNCT
fbem-18916	294	11	24(2	24(2	NUM
fbem-18916	294	12	):	):	PUNCT
fbem-18916	294	13	13	13	NUM
fbem-18916	294	14	-	-	SYM
fbem-18916	294	15	17	17	NUM
fbem-18916	294	16	.	.	PUNCT
fbem-18916	295	1	[	[	X
fbem-18916	295	2	20	20	NUM
fbem-18916	295	3	]	]	X
fbem-18916	295	4	baur	baur	PROPN
fbem-18916	295	5	d	d	PROPN
fbem-18916	295	6	g	g	PROPN
fbem-18916	295	7	,	,	PUNCT
fbem-18916	295	8	lucey	lucey	PROPN
fbem-18916	295	9	b	b	PROPN
fbem-18916	295	10	m.	m.	NOUN
fbem-18916	295	11	flights	flight	NOUN
fbem-18916	295	12	and	and	CCONJ
fbem-18916	295	13	contagion	contagion	NOUN
fbem-18916	295	14	—	—	PUNCT
fbem-18916	295	15	an	an	DET
fbem-18916	295	16	empirical	empirical	ADJ
fbem-18916	295	17	analysis	analysis	NOUN
fbem-18916	295	18	of	of	ADP
fbem-18916	295	19	stock	stock	NOUN
fbem-18916	295	20	–	–	PUNCT
fbem-18916	295	21	bond	bond	NOUN
fbem-18916	295	22	correlations[j	correlations[j	NOUN
fbem-18916	295	23	]	]	X
fbem-18916	295	24	.	.	PUNCT
fbem-18916	296	1	journal	journal	PROPN
fbem-18916	296	2	of	of	ADP
fbem-18916	296	3	financial	financial	ADJ
fbem-18916	296	4	stability	stability	NOUN
fbem-18916	296	5	,	,	PUNCT
fbem-18916	296	6	2009	2009	NUM
fbem-18916	296	7	,	,	PUNCT
fbem-18916	296	8	5(4	5(4	NUM
fbem-18916	296	9	):	):	PUNCT
fbem-18916	296	10	339	339	NUM
fbem-18916	296	11	-	-	SYM
fbem-18916	296	12	352	352	NUM
fbem-18916	296	13	.	.	PUNCT
fbem-18916	297	1	[	[	X
fbem-18916	297	2	21	21	NUM
fbem-18916	297	3	]	]	PUNCT
fbem-18916	297	4	capie	capie	NOUN
fbem-18916	297	5	f	f	PROPN
fbem-18916	297	6	,	,	PUNCT
fbem-18916	297	7	mills	mill	NOUN
fbem-18916	297	8	t	t	PROPN
fbem-18916	297	9	c	c	NOUN
fbem-18916	297	10	,	,	PUNCT
fbem-18916	297	11	wood	wood	NOUN
fbem-18916	297	12	g.	g.	NOUN
fbem-18916	297	13	gold	gold	NOUN
fbem-18916	297	14	as	as	ADP
fbem-18916	297	15	a	a	DET
fbem-18916	297	16	hedge	hedge	NOUN
fbem-18916	297	17	against	against	ADP
fbem-18916	297	18	the	the	DET
fbem-18916	297	19	dollar[j	dollar[j	NOUN
fbem-18916	297	20	]	]	PUNCT
fbem-18916	297	21	.	.	PUNCT
fbem-18916	298	1	journal	journal	PROPN
fbem-18916	298	2	of	of	ADP
fbem-18916	298	3	international	international	ADJ
fbem-18916	298	4	financial	financial	ADJ
fbem-18916	298	5	markets	market	NOUN
fbem-18916	298	6	,	,	PUNCT
fbem-18916	298	7	institutions	institution	NOUN
fbem-18916	298	8	and	and	CCONJ
fbem-18916	298	9	money	money	NOUN
fbem-18916	298	10	,	,	PUNCT
fbem-18916	298	11	2005	2005	NUM
fbem-18916	298	12	,	,	PUNCT
fbem-18916	298	13	15(4	15(4	NUM
fbem-18916	298	14	):	):	PUNCT
fbem-18916	298	15	343	343	NUM
fbem-18916	298	16	-	-	SYM
fbem-18916	298	17	352	352	NUM
fbem-18916	298	18	.	.	PUNCT
fbem-18916	299	1	[	[	X
fbem-18916	299	2	22	22	NUM
fbem-18916	299	3	]	]	PUNCT
fbem-18916	299	4	bouri	bouri	PROPN
fbem-18916	299	5	e	e	PROPN
fbem-18916	299	6	,	,	PUNCT
fbem-18916	299	7	gil‐alana	gil‐alana	PROPN
fbem-18916	299	8	l	l	PROPN
fbem-18916	299	9	a	a	PROPN
fbem-18916	299	10	,	,	PUNCT
fbem-18916	299	11	gupta	gupta	PROPN
fbem-18916	299	12	r	r	NOUN
fbem-18916	299	13	,	,	PUNCT
fbem-18916	299	14	et	et	PROPN
fbem-18916	299	15	al	al	PROPN
fbem-18916	299	16	.	.	PROPN
fbem-18916	299	17	modelling	model	VERB
fbem-18916	299	18	long	long	ADJ
fbem-18916	299	19	memory	memory	NOUN
fbem-18916	299	20	volatility	volatility	NOUN
fbem-18916	299	21	in	in	ADP
fbem-18916	299	22	the	the	DET
fbem-18916	299	23	bitcoin	bitcoin	ADJ
fbem-18916	299	24	market	market	NOUN
fbem-18916	299	25	:	:	PUNCT
fbem-18916	299	26	evidence	evidence	NOUN
fbem-18916	299	27	of	of	ADP
fbem-18916	299	28	persistence	persistence	NOUN
fbem-18916	299	29	and	and	CCONJ
fbem-18916	299	30	structural	structural	ADJ
fbem-18916	299	31	breaks[j	breaks[j	PROPN
fbem-18916	299	32	]	]	PUNCT
fbem-18916	299	33	.	.	PUNCT
fbem-18916	300	1	international	international	ADJ
fbem-18916	300	2	journal	journal	PROPN
fbem-18916	300	3	of	of	ADP
fbem-18916	300	4	finance	finance	PROPN
fbem-18916	300	5	&	&	CCONJ
fbem-18916	300	6	economics	economic	NOUN
fbem-18916	300	7	,	,	PUNCT
fbem-18916	300	8	2019	2019	NUM
fbem-18916	300	9	,	,	PUNCT
fbem-18916	300	10	24(1	24(1	NUM
fbem-18916	300	11	):	):	PUNCT
fbem-18916	300	12	412	412	NUM
fbem-18916	300	13	-	-	SYM
fbem-18916	300	14	426	426	NUM
fbem-18916	300	15	.	.	NOUN
fbem-18916	300	16	306	306	NUM
fbem-18916	301	1	[	[	X
fbem-18916	301	2	23	23	NUM
fbem-18916	301	3	]	]	X
fbem-18916	301	4	dyhrberg	dyhrberg	PROPN
fbem-18916	301	5	a	a	DET
fbem-18916	301	6	h.	h.	PROPN
fbem-18916	301	7	bitcoin	bitcoin	PROPN
fbem-18916	301	8	,	,	PUNCT
fbem-18916	301	9	gold	gold	NOUN
fbem-18916	301	10	and	and	CCONJ
fbem-18916	301	11	the	the	DET
fbem-18916	301	12	dollar	dollar	NOUN
fbem-18916	301	13	–	–	PUNCT
fbem-18916	301	14	a	a	DET
fbem-18916	301	15	garch	garch	NOUN
fbem-18916	301	16	volatility	volatility	NOUN
fbem-18916	301	17	analysis[j	analysis[j	PROPN
fbem-18916	301	18	]	]	PUNCT
fbem-18916	301	19	.	.	PUNCT
fbem-18916	302	1	finance	finance	NOUN
fbem-18916	302	2	research	research	NOUN
fbem-18916	302	3	letters	letter	NOUN
fbem-18916	302	4	,	,	PUNCT
fbem-18916	302	5	2016	2016	NUM
fbem-18916	302	6	,	,	PUNCT
fbem-18916	302	7	16	16	NUM
fbem-18916	302	8	:	:	SYM
fbem-18916	302	9	8592	8592	NUM
fbem-18916	302	10	.	.	PUNCT
fbem-18916	303	1	[	[	X
fbem-18916	303	2	24	24	NUM
fbem-18916	303	3	]	]	X
fbem-18916	303	4	ratner	ratner	PROPN
fbem-18916	303	5	m	m	PROPN
fbem-18916	303	6	,	,	PUNCT
fbem-18916	303	7	chiu	chiu	PROPN
fbem-18916	303	8	c	c	PROPN
fbem-18916	303	9	c	c	PROPN
fbem-18916	303	10	j.	j.	PROPN
fbem-18916	303	11	hedging	hedging	PROPN
fbem-18916	303	12	stock	stock	NOUN
fbem-18916	303	13	sector	sector	NOUN
fbem-18916	303	14	risk	risk	NOUN
fbem-18916	303	15	with	with	ADP
fbem-18916	303	16	credit	credit	NOUN
fbem-18916	303	17	default	default	NOUN
fbem-18916	303	18	swaps[j	swaps[j	PROPN
fbem-18916	303	19	]	]	PUNCT
fbem-18916	303	20	.	.	PUNCT
fbem-18916	304	1	international	international	ADJ
fbem-18916	304	2	review	review	NOUN
fbem-18916	304	3	of	of	ADP
fbem-18916	304	4	financial	financial	ADJ
fbem-18916	304	5	analysis	analysis	NOUN
fbem-18916	304	6	,	,	PUNCT
fbem-18916	304	7	2013	2013	NUM
fbem-18916	304	8	,	,	PUNCT
fbem-18916	304	9	30	30	NUM
fbem-18916	304	10	:	:	SYM
fbem-18916	304	11	18	18	NUM
fbem-18916	304	12	-	-	SYM
fbem-18916	304	13	25	25	NUM
fbem-18916	304	14	.	.	PUNCT
fbem-18916	305	1	[	[	X
fbem-18916	305	2	25	25	NUM
fbem-18916	305	3	]	]	PUNCT
fbem-18916	305	4	bouoiyour	bouoiyour	PROPN
fbem-18916	305	5	j	j	PROPN
fbem-18916	305	6	,	,	PUNCT
fbem-18916	305	7	selmi	selmi	PROPN
fbem-18916	305	8	r	r	PROPN
fbem-18916	305	9	,	,	PUNCT
fbem-18916	305	10	tiwari	tiwari	ADJ
fbem-18916	305	11	a.	a.	NOUN
fbem-18916	305	12	is	be	AUX
fbem-18916	305	13	bitcoin	bitcoin	ADJ
fbem-18916	305	14	business	business	NOUN
fbem-18916	305	15	income	income	NOUN
fbem-18916	305	16	or	or	CCONJ
fbem-18916	305	17	speculative	speculative	ADJ
fbem-18916	305	18	bubble	bubble	NOUN
fbem-18916	305	19	?	?	PUNCT
fbem-18916	306	1	unconditional	unconditional	ADJ
fbem-18916	306	2	vs.	vs.	ADP
fbem-18916	306	3	conditional	conditional	ADJ
fbem-18916	306	4	frequency	frequency	NOUN
fbem-18916	306	5	domain	domain	NOUN
fbem-18916	306	6	analysis[j	analysis[j	PROPN
fbem-18916	306	7	]	]	PUNCT
fbem-18916	306	8	.	.	PUNCT
fbem-18916	307	1	2014	2014	NUM
fbem-18916	307	2	.	.	PUNCT
fbem-18916	308	1	[	[	X
fbem-18916	308	2	26	26	NUM
fbem-18916	308	3	]	]	X
fbem-18916	308	4	ciaian	ciaian	NOUN
fbem-18916	308	5	p	p	PROPN
fbem-18916	308	6	,	,	PUNCT
fbem-18916	308	7	rajcaniova	rajcaniova	PROPN
fbem-18916	308	8	m	m	PROPN
fbem-18916	308	9	,	,	PUNCT
fbem-18916	308	10	kancs	kancs	PROPN
fbem-18916	308	11	a.	a.	PROPN
fbem-18916	308	12	the	the	DET
fbem-18916	308	13	economics	economic	NOUN
fbem-18916	308	14	of	of	ADP
fbem-18916	308	15	bitcoin	bitcoin	ADJ
fbem-18916	308	16	price	price	NOUN
fbem-18916	308	17	formation[j	formation[j	PROPN
fbem-18916	308	18	]	]	PUNCT
fbem-18916	308	19	.	.	PUNCT
fbem-18916	309	1	applied	apply	VERB
fbem-18916	309	2	economics	economic	NOUN
fbem-18916	309	3	,	,	PUNCT
fbem-18916	309	4	2016	2016	NUM
fbem-18916	309	5	,	,	PUNCT
fbem-18916	309	6	48(19	48(19	PROPN
fbem-18916	309	7	):	):	PUNCT
fbem-18916	309	8	17991815	17991815	NUM
fbem-18916	309	9	.	.	PUNCT