我研究了哪些非同寻常的国际事件与全球能源结构相对的一些世界上最大的公开交易供应商-石油和环境清洁能源公司-的股票市场的明显变化相吻合。首先,我采用了一种直观吸引人的非参数过滤器,以经验时间戳为与国际能源市场相关的各种全球指标的意外和显着增加和减少。然后,我用这样的特殊条件来描述石油和环境清洁能源股票的表现,和他们的关系。我的研究结果表明,全球股市的上涨,国际原油市场冲击,和美元实际有效汇率,是定义金融格局的指标,在此期间,可观的收益,损失,这两种类型的能源市场的不稳定都会成为现实。相比之下,与地缘政治风险和气候政策相关的主要不确定性上升反映了石油和环境清洁能源公司股票的相对稳定。尽管这些结果暗示,这两种能源资产都是投资者在地缘政治和气候政策不确定性加剧期间利用的潜在有利可图的对冲策略,清洁能源股票为市场参与者提供了将利润最大化和可持续性目标结合起来的选择,同时将全球能源安全风险降至最低。
I examine which extraordinary international events coincide with pronounced changes in the equity markets for some of the world\'s largest publicly traded suppliers on opposite sides of the global energy mix -
oil and environmentally clean energy companies. First, I adapt an intuitively appealing non-parametric filter to empirically timestamp unexpected and prominent increases and decreases in a wide range of global indicators relevant to the international energy market. Then, I use such extraordinary conditions to characterise the performance of
oil and environmentally clean energy equities, and their relationships. My findings suggest that jumps in the global stock market, international crude
oil market shocks, and the US dollar real effective exchange rate, are the indicators that define the financial landscape during which considerable gains, losses, and instability across both types of energy markets materialise. In contrast, major elevated uncertainties related to geo-political risk and climate policy reflect relative stability in the equities of both
oil and environmentally clean energy companies. Although these results imply that both energy assets are potentially lucrative hedging strategies for investors to exploit during heightened geo-political and climate policy uncertainties, clean energy equities offer market participants the option to combine profit maximising and sustainability objectives while minimising global energy security risks.