financeФинансы: теория и практика/Finance: Theory and PracticeFinance: Theory and Practice2587-56712587-7089Financial University under The Government of Russian Federation10.26794/2587-5671-2025-29-5-178-187finance-3959Research ArticleИНВЕСТИЦИОННАЯ ПОЛИТИКАINVESTMENT POlICYИнтеграция социально ответственных инвестиций, «зеленых», «грязных» и энергетических криптовалют: перспективы диверсификации портфеляIntegration Among the Socially Responsible Investment, Green, Dirty, and Energy Cryptocurrencies: A Portfolio Diversification Perspectivehttps://orcid.org/0000-0002-4634-164XСингхХ. П.SinghH. P.

Харш Пратап Сингх — PhD, доцент, кафедра бухгалтерского учета и финансов

Ахмадабад

Harsh Pratap Singh — PhD, Assist. Prof., Department of Accounting and Finance

Ahmedabad

harsh.singh@nirmauni.ac.inhttps://orcid.org/0000-0002-1437-8157ШармаА.SharmaA.

Адитья Шарма — PhD, факультет экономики и финансов

Пилани

Aditya Sharma — PhD, Department of Economics and Finance

Pilani

aditya.bits@gmail.comhttps://orcid.org/0000-0001-5190-1915ПательМ.PatelM.

Митеш Патель — PhD, доцент, кафедра бухгалтерского учета и финансов

Гандинагар

Mitesh Patel — PhD, Assist. Prof., Department of Accounting and Finance

Gandhinagar

patel4mitesh@gmail.comИнститут менеджмента, Университет НирмаРоссияInstitute of Management, Nirma UniversityRussian FederationИнститут технологии и науки Бирлы в ПиланиРоссияBirla Institute of Technology and Science PilaniRussian FederationИнститут менеджмента S V, Кади Сарва ВишвавидьялаяРоссияS V Institute of Management, Kadi Sarva VishwavidyalayaRussian Federation202526102025295178187Copyright © Сингх Х.П., Шарма А., Патель М., 20252025Сингх Х.П., Шарма А., Патель М.Singh H.P., Sharma A., Patel M.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://financetp.fa.ru/jour/article/view/3959

В статье исследуется связь между различными «зелеными», «грязными», энергетическими криптовалютами и со­циально ответственными инвестиционными рынками.

Цель исследования — выявить преимущества диверсифика­ции портфеля на социально ответственных инвестиционных рынках с помощью «зеленых», «грязных» и энерге­тических криптовалют. Авторы используют три альтернативные методики формирования портфеля: (1) портфель с равномерным распределением активов, (2) портфель с минимальной дисперсией и (3) портфель с максимальным коэффициентом Шарпа. Это позволяет сравнить их с инвестициями в недвижимость.

Методология исследования включает корреляционный анализ для изучения краткосрочных связей и сетевой анализ для оценки долгосроч­ных взаимосвязей между социально ответственными инвестиционными рынками и различными криптовалютами. Уникальность нашего подхода заключается в исследовании взаимосвязи социально ответственных инвестиций и криптовалют, а также в оценке выгод диверсификации портфеля. Результаты показывают, что инвесторы в соци­ально ответственные активы, кроме «зеленых» облигаций, могут получить преимущества от метода наименьшей дисперсии. Портфель с максимальным коэффициентом Шарпа выгоден всем, кто использует социально ориентированные инвестиции. Эти выводы имеют значение для распределения активов и принятия инвестиционных решений инвесторами и менеджерами.

The paper investigates the association between various green, dirty, energy cryptocurrencies and socially responsible investment markets.

The purpose of the study is to identify the potential benefits of portfolio diversification for socially responsible investment markets from green, dirty and energy cryptocurrencies using three alternative methodologies for portfolio construction (1) the equally weighted portfolio, (2) the least variance portfolio, and (3) the maximum Sharpe portfolio thus contrasting it with the alternative of home investing.

The research Methodology used in the study are, correlation analysis, used to investigate short-term association, and subsequently, network analysis, to investigate the long-term connectedness between the socially conscious investment markets and the different green, filthy, and energy cryptocurrencies.

The study is unique to focus on the interlinkages of socially responsible investment and the green, dirty and energy cryptocurrencies while evaluating the possible portfolio diversification benefits.

The results of the study suggest that the investors in all other SRI assets, except green bonds, can benefit from the least variance technique. The maximum Sharpe portfolio is beneficial to all investors who make socially conscious investments.

The study has consequences for asset allocation and investment decisions for investors and portfolio managers.

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The authors declare that there are no conflicts of interest present.