ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Relationship with Underlying Indices

Indian Exchange Traded Funds

This paper seeks to model the long-run relationship between Indian exchange traded funds or ETFs and their underlying indices. The findings indicate that the relationship fails to fully explain the price dynamics of Indian ETFs. In other words, Indian ETFs serve as an imperfect hedge for investors who have exposure to respective underlying indices.

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