Assessing connectedness of transportation cryptocurrencies and transportation stocks: Evidence from wavelet quantile correlation

We investigate the interconnections between transportation cryptocurrencies and transportation stocks using a wavelet quantile correlation approach. We find transportation cryptocurrencies have a negative relationship with transportation stocks over most conditions and time periods, indicating opportunity for diversifying transportation stocks. However, in contrast, under some conditions, transportation cryptocurrencies have weak, almost economically inconsequential positive connectedness with transportation stocks, Overall, we highlight that transportation cryptocurrencies provide important diversification opportunities for transportation stock.