According to Baur and Luceya hedge is an asset which is uncorrelated or negatively correlated with other assets on average, while a safe haven is an asset which shows these properties only in times of markets distress. The Amihud measure is one of the most widely used liquidity bitcoin dynamics in the finance literature due to its simplicity and robustness. For other error distributions, the conditional volatility of the time-varying scale parameters of the underlying distribution is multiplied by the unconditional volatility of the correspondingly distributed standardised residuals.
The skewed GED distribution is a special case of the skewed generalised t GT bitcoin dynamics, which could be an interesting alternative to the former distribution. bitcoin dynamics
First implemented by Theodossiouthe skewed GT distribution has two parameters that control the kurtosis, making it the most flexible distribution that takes into account the fat tail behaviour present in financial data.
However, according to Ruiz and Nietothe implementation of this distribution proves to be difficult because the maximisation of the corresponding log-likelihood function is highly time-consuming.