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Average values of hedge ratio and hedging effectiveness.
| Hedge ratio | Hedging effectiveness | |
|---|---|---|
| Climate bond-stocks | −1.9310 | 12.19 % |
| Climate bond-gold | 1.6792 | 11.02 % |
| Climate bond-oil | −0.4281 | 3.05 % |
Notes: In this table, we provide the average of the hedge ratio and hedging effectiveness between climate bonds and each of the three indexes under study. The sample includes 817 daily observations.
