TABLE 2.
Descriptive statistics of returns for pre and during COVID‐19
| Panel A: Descriptive statistics of returns (Pre COVID‐19) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| United Kingdom | United States | Italy | Germany | China | Brazil | Russia | India | Spain | |
| Mean | 0.0059 | 0.0468 | 0.0192 | 0.0268 | 0.0314 | 0.0141 | 0.0315 | −0.0108 | 0.0057 |
| Median | 0.0355 | 0.0348 | 0.0347 | 0.0338 | 0.0000 | 0.0000 | 0.0069 | 0.0056 | 0.0284 |
| Maximum | 5.9245 | 4.9594 | 6.4805 | 5.0559 | 6.8463 | 14.2929 | 5.9577 | 12.3657 | 5.4454 |
| Minimum | −10.8713 | −4.0979 | −14.2922 | −8.7517 | −8.9720 | −12.3383 | −7.0767 | −6.6138 | −14.1669 |
| SD | 0.9691 | 0.7929 | 1.3780 | 1.0796 | 1.4745 | 1.6564 | 1.0859 | 1.0076 | 1.1884 |
| Skewness | −0.7968 | −0.4670 | −0.7167 | −0.4296 | −0.6992 | −0.1340 | −0.1838 | 0.7654 | −0.9843 |
| Kurtosis | 14.8623 | 6.7980 | 10.5345 | 6.8779 | 8.7818 | 13.0588 | 6.9780 | 18.8094 | 14.9519 |
| Panel B: Descriptive statistics of returns (During COVID‐19) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| United Kingdom | United States | Italy | Germany | China | Brazil | Russia | India | Spain | |
| Mean | −0.0277 | 0.0787 | 0.0381 | 0.0704 | 0.1197 | −0.0385 | −0.0121 | 0.0663 | −0.0079 |
| Median | 0.0715 | 0.1791 | 0.1527 | 0.0999 | 0.0599 | 0.0482 | 0.0877 | 0.1758 | 0.0000 |
| Maximum | 11.8153 | 9.3828 | 9.3046 | 11.3622 | 6.1692 | 16.1127 | 9.0132 | 9.7535 | 8.1936 |
| Minimum | −13.2503 | −11.9841 | −18.3670 | −13.7633 | −9.1178 | −17.8490 | −11.2529 | −14.7715 | −15.5523 |
| SD | 2.0921 | 2.1352 | 2.2645 | 2.1562 | 1.5162 | 3.4942 | 2.3786 | 2.1748 | 2.1801 |
| Skewness | −0.5975 | −0.5526 | −2.2623 | −0.7685 | −0.9316 | −0.8835 | −0.7567 | −1.4416 | −1.2572 |
| Kurtosis | 12.7612 | 11.1900 | 21.3181 | 12.2151 | 9.2821 | 10.2674 | 7.6175 | 14.2676 | 13.7444 |
Note: This table reports descriptive statistics for daily stock returns. Panel A reports the results during the period per‐the COVID‐19 period (January 1, 2013 to December 31, 2019). Panel B reports the results during the COVID‐19 period (January 1, 2020 to December 31, 2020).