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As a result, the ensuing perverse risk among markets is presumed to rise during severe uncertainties occasioned by the COVID\u201019 pandemic. The impetus of this study is to examine the degree of asymmetry and nonlinear directional causality between global equities and cryptocurrencies in the frequency domain. Hence, we employ both the variational mode decomposition (VMD) and the R\u00e9nyi effective transfer entropy techniques. Analyses of the study are presented for three sample periods; these are the full sample period, the pre\u2010COVID\u201019 period, and the COVID\u201019 pandemic period. We gauge a mixture of asymmetric and nonlinear bidirectional and unidirectional causality between global equities and cryptocurrencies for the sample periods. However, the COVID\u201019 pandemic period appears to be driving the estimates for the full sample period, which indicates a negative flow. Thus, the direction and significance of the information flow between the markets for the full sample correspond to the one observed during the COVID\u201019 pandemic period. We, consequently, establish a significant directional, dynamical, and scale\u2010dependent information flow between global equities and cryptocurrencies. Notwithstanding, throughout the study samples, we mainly find a negative significant information flow from global equities to cryptocurrencies. We detect that most cryptocurrencies exhibit similar behaviour of information flow to global equities for each of the sample periods. The outcome provides pertinent signals to investors with diverse investment horizons who would want to diversify, hedge, or employ cryptocurrencies as a safe haven for global equities during uncertainties, specifically the COVID\u201019 pandemic.<\/jats:p>","DOI":"10.1155\/2021\/4753753","type":"journal-article","created":{"date-parts":[[2021,10,22]],"date-time":"2021-10-22T00:07:24Z","timestamp":1634861244000},"update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":47,"title":["Information Flow between Global Equities and Cryptocurrencies: A VMD\u2010Based Entropy Evaluating Shocks from COVID\u201019 Pandemic"],"prefix":"10.1155","volume":"2021","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-4449-6285","authenticated-orcid":false,"given":"Emmanuel","family":"Asafo-Adjei","sequence":"first","affiliation":[]},{"ORCID":"https:\/\/orcid.org\/0000-0001-6253-5770","authenticated-orcid":false,"given":"Peterson","family":"Owusu Junior","sequence":"additional","affiliation":[]},{"ORCID":"https:\/\/orcid.org\/0000-0003-3830-1186","authenticated-orcid":false,"given":"Anokye M.","family":"Adam","sequence":"additional","affiliation":[]}],"member":"311","published-online":{"date-parts":[[2021,10,21]]},"reference":[{"key":"e_1_2_8_1_2","doi-asserted-by":"publisher","DOI":"10.1017\/s1041610220003312"},{"key":"e_1_2_8_2_2","doi-asserted-by":"publisher","DOI":"10.1111\/1467-8268.12525"},{"key":"e_1_2_8_3_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.scitotenv.2020.138916"},{"key":"e_1_2_8_4_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.frl.2020.101625"},{"key":"e_1_2_8_5_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.chaos.2020.109936"},{"key":"e_1_2_8_6_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.chaos.2020.109896"},{"key":"e_1_2_8_7_2","doi-asserted-by":"publisher","DOI":"10.3390\/e22080833"},{"key":"e_1_2_8_8_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.chaos.2020.110084"},{"key":"e_1_2_8_9_2","doi-asserted-by":"publisher","DOI":"10.1007\/978-1-4757-0602-4_18"},{"key":"e_1_2_8_10_2","doi-asserted-by":"publisher","DOI":"10.1080\/23322039.2020.1804037"},{"key":"e_1_2_8_11_2","unstructured":"NakamotoS.andBitcoinA. 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