What is it about?
Amidst intensifying geopolitical instability, this study delves into the complex network of relationships between the aerospace & defense sector and a cluster of relevant markets, including core financial instruments (equity, industrials, global equity, treasury bonds, U.S. Dollar Index), key commodities (crude oil, gold, copper, aluminum), and pivotal global risk indices (VIX, Geopolitical Risk Index).
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Why is it important?
This paper advances the literature through two unique contributions. First, and to the authors’ utmost awareness, this research thoroughly elucidates the multifaceted interac-tions between the aerospace & defense sector and an extensive selection of related- investment instruments.
Perspectives
The findings reveal a marked temporal heterogeneity and pronounced surges in dynamic connectedness during major global events, demonstrating the aerospace & defense sector’s susceptibility to systemic risks.
Dr Spyros Papathanasiou
National and Kapodistrian University of Athens
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This page is a summary of: Geopolitical risk and the aerospace & defense sector: implications for risk management and portfolio optimization, Defence and Peace Economics, February 2026, Taylor & Francis,
DOI: 10.1080/10242694.2026.2630901.
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