Fig. 6: VaR plots of crude oil under different regimes.

Note: a The VaR of crude oil and the risk spillover of gold to crude oil under a tranquil regime. b The VaR of crude oil and the risk spillover of gold to crude oil under a crisis regime.
Note: a The VaR of crude oil and the risk spillover of gold to crude oil under a tranquil regime. b The VaR of crude oil and the risk spillover of gold to crude oil under a crisis regime.