Information Flow from COVID-19 Pandemic to Islamic and Conventional Equities: An ICEEMDAN-Induced Transfer Entropy Analysis

Table 1

Descriptive summary of selected equities and worldwide daily COVID-19 cases.

Market/Country	Minimum	Maximum	Mean	SD^1	Skewness	Kurtosis^2
COVID-19	0.0016	0.6449	0.0210	0.0643	6.9417	57.3324
BMI	−0.0816	0.0412	0.0010	0.0142	−1.2007	6.7322
DMI	−0.0979	0.0310	0.0011	0.0121	−3.5675	26.9884
EMI	−0.0745	0.0350	0.0012	0.0118	−1.6174	9.7779
EUMI	−0.0460	0.0361	0.0012	0.0104	−0.6554	3.1193
GMI	−0.1579	0.0648	0.0013	0.0244	−1.9008	10.5126
Bahrain	−0.0901	0.0258	−0.0002	0.0129	−4.4150	26.9924
Bangladesh	−0.1133	0.1084	0.0029	0.0190	0.1284	15.9887
Egypt	−0.1721	0.0959	−0.0009	0.0236	−2.8934	20.8358
India	−0.1350	0.0560	0.0023	0.0212	−2.0487	12.0509
Indonesia	−0.1463	0.0582	−0.0011	0.0273	−1.9717	9.2137
Iraq	−0.2099	0.0685	0.0001	0.0236	−4.4003	38.7612
Jordan	−0.0745	0.0495	0.0001	0.0102	−1.5086	19.6118
Kazakhstan	−0.0878	0.1120	0.0011	0.0173	0.0788	16.2467
Kuwait	−0.1994	0.1511	0.0000	0.0249	−2.7185	36.0605
Malaysia	−0.1380	0.1640	0.0004	0.0210	1.2912	32.8132
Morocco	−0.1732	0.0326	0.0000	0.0165	−7.2407	74.3607
Oman	−0.0695	0.0317	−0.0002	0.0103	−2.5260	15.1852
Pakistan	−0.1137	0.0511	0.0000	0.0179	−2.0049	11.1341
Palestine	−0.0714	0.0461	0.0002	0.0101	−1.3920	19.0652
Qatar	−0.0777	0.0800	0.0007	0.0139	−0.1814	13.4451
Saudi Arabia	−0.1307	0.1979	0.0018	0.0235	2.0823	36.2245
UAE	−0.1771	0.1847	0.0016	0.0241	−0.1186	38.9031
Canada	−0.1086	0.0281	0.0010	0.0131	−3.9400	30.1531
France	−0.0545	0.0740	0.0018	0.0136	0.7561	6.6918
Germany	−0.0498	0.0507	0.0016	0.0131	0.2033	3.5240
Italy	−0.0552	0.0522	0.0016	0.0138	−0.0261	2.8226
Japan	−0.0275	0.0409	0.0016	0.0110	0.0840	0.5407
UK	−0.0503	0.0483	0.0014	0.0127	−0.0066	2.9953
USA	−0.1277	0.0450	0.0011	0.0159	−3.4210	26.1524