Table 1.

Summary statistics.

All data	Bitcoin	Ethereum	Tether	MSCI World	S&P 500	FTSE 100	FTSE MIB	IBEX	CSI 300
Mean	113.26	102.60	0.16	5.89	9.85	−0.76	−3.08	−5.15	3.21
Standard deviation	97.94	123.30	26.03	14.72	17.13	18.80	27.62	24.76	23.97
Skewness	−0.54	0.46	1.46	−1.21	−0.91	−1.08	−1.06	−0.89	−0.75
Kurtosis	13.96	6.56	31.71	19.81	19.74	15.70	10.91	10.41	5.16
Max one day loss	−66.49	−56.56	−14.75	−10.44	−12.77	−13.47	−19.29	−15.90	−9.42
Cumulative return	1141.14	495.51	0.90	59.28	95.72	−7.41	−30.15	−50.87	30.18

2019–2020	Bitcoin	Ethereum	Tether	MSCI World	S&P 500	FTSE 100	FTSE MIB	IBEX	CSI 300
Mean	35.70	2.73	−0.39	−8.33	−3.48	−28.57	−23.76	−31.62	−10.99
Standard deviation	86.61	100.98	4.98	26.16	31.82	27.98	31.71	27.86	23.94
Skewness	−0.54	0.46	1.46	−1.21	−0.91	−1.08	−1.06	−0.89	−0.75
Kurtosis	21.74	24.17	16.60	15.37	12.64	19.72	37.33	28.31	6.89
Max one day loss	−47.06	−56.56	−2.42	−10.44	−12.77	−13.47	−19.29	−15.90	−9.42
Cumulative return	35.70	2.73	−0.39	−8.33	−3.48	−28.57	−23.76	−31.62	−10.99

This table details summary statistics for Bitcoin and a range of international equity markets. Summary statistics are given in percentage terms and mean and standard deviation are annualized. All Data incorporates periods from April 2010–April 2020 (Bitcoin and equity indices), August 2015–April 2020 (Ethereum) and October 2014–April 2020 (Tether). A one year period from April 2019–April 2020 is also examined for all assets.