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Sports tokens show spillover risk and portfolio benefits

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Research area:finance-marketsfinancial-markets

What the study found

The study found that sports tokens and sports equities are connected to risk spillovers with traditional assets. It also found that the minimum connectedness portfolio suggests possible portfolio benefits from using sports tokens.

Why the authors say this matters

The authors conclude that the findings provide information for market participants to manage asset risk. The study suggests that understanding these spillovers may help in curbing asset management risk.

What the researchers tested

The researchers examined risk spillover across sports tokens, sports equities, and other traditional assets using a quantile-VAR model, which is a model for analyzing relationships across different parts of the return distribution. They also used a minimum connectedness portfolio analysis.

What worked and what didn't

In the static analysis, token BAR was reported to cause significant shocks to the system. At the lower quantile, the USD was both the highest contributor and the highest receiver in the network, and OG was described as the dominant contributor. The portfolio analysis suggested possible benefits from using sports tokens.

What to keep in mind

The abstract does not describe detailed data, sample size, time period, or asset list beyond the examples named. It also does not provide full numerical estimates or specify which particular portfolio settings produced the reported benefits.

Key points

  • The study examined risk spillovers across sports tokens, sports equities, and traditional assets.
  • BAR was reported to cause significant shocks in the static analysis.
  • At the lower quantile, the USD was the highest contributor and the highest receiver in the network.
  • OG was described as the dominant contributor to the system.
  • The minimum connectedness portfolio suggested possible portfolio benefits from sports tokens.

Disclosure

Research title:
Sports tokens show spillover risk and portfolio benefits
Authors:
Aviral Tiwari, Mehrad Asadi, Mohammad Roshimi Abdullah, Emmanuel Joel Aikins Abakah, Rubaiyat Ahsan Bhuiyan
Institutions:
Indian Institute of Management Ahmedabad, Indian Institute of Management Bodh Gaya, Sultan Zainal Abidin University, Tarbiat Modares University, University of Ghana, University of Southampton Malaysia, University of the Witwatersrand
Publication date:
2026-02-09
DOI:
10.1186/s40854-025-00885-7
OpenAlex record:
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AI provenance: This post was generated by gpt-5.4-mini (OpenAI). The original authors did not write or review this post.

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