Examinando por Materia "XLE"

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    El sector energético como activo refugio : un análisis del XLE tras la invasión de Rusia a Ucrania
    (Universidad EAFIT, 2025) Vera Cortés, Alfonsina del Mar; Puerta Álvarez, Henry Daniel
    This study analyzes whether the U.S. energy sector, represented by the XLE ETF, can be considered a safe haven asset in the context of disruptive geopolitical and economic events, such as the Russia-Ukraine war and the COVID-19 pandemic. Using daily data from 2019 to 2025, the behavior of XLE, the S&P 500, gold (XAU/USD), oil prices (WTI and Brent), and inflation expectations (sourced from the FRED database) are examined. Through statistical and graphical tools, the analysis shows that XLE experienced a significant recovery after the onset of the conflict, remaining relatively stable compared to the volatility of other assets such as oil and gold. In contrast, gold—traditionally viewed as a safe haven—lost stability after the war began, with a delayed recovery. The differing behavior of WTI and Brent highlights the influence of regional geopolitical factors. Inflation expectations also played a key role in shaping asset dynamics. The results suggest that, although gold remains relevant as a safe haven, the U.S. energy sector—particularly the XLE—has gained prominence as a potential defensive alternative for investors during periods of high uncertainty.