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This paper examined the impact of COVID\u201019 information flow on the Islamic and conventional equities within the short\u2010, mid\u2010, and long\u2010term horizons to assess possible diversification prospects in the era of the pandemic. To the studied equities markets, a novel technique based on a denoised frequency\u2010domain entropy paradigm was applied. The operability of entrenched market dynamics in the long\u2010term horizon of the COVID\u201019 pandemic period is reinforced by the results. The findings divulge diversification opportunities between Islamic and conventional equities in the short\u2010 and mid\u2010term periods of the COVID\u201019 pandemic. The risks on equities from Japan or Bahrain could be diversified by equities from Jordan in the short\u2010term, while in the intermediate\u2010term stocks from Japan could diversify with the UAE and USA equities. The results imply that it is imperative for investors and fund managers to employ portfolio management techniques that show how to use benefits together with risk prevention and management across distinct time scales.<\/jats:p>","DOI":"10.1155\/2021\/4917051","type":"journal-article","created":{"date-parts":[[2021,12,31]],"date-time":"2021-12-31T21:20:09Z","timestamp":1640985609000},"update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":58,"title":["Information Flow from COVID\u201019 Pandemic to Islamic and Conventional Equities: An ICEEMDAN\u2010Induced Transfer Entropy Analysis"],"prefix":"10.1155","volume":"2021","author":[{"ORCID":"https:\/\/orcid.org\/0000-0001-9539-0889","authenticated-orcid":false,"given":"Ahmed","family":"Bossman","sequence":"first","affiliation":[]}],"member":"311","published-online":{"date-parts":[[2021,12,31]]},"reference":[{"key":"e_1_2_9_1_2","doi-asserted-by":"publisher","DOI":"10.1111\/0022-1082.00494"},{"key":"e_1_2_9_2_2","volume-title":"Emerging Financial Markets: Spatial Risks, Elicitability of Risk Models, and Shape Shift Contagion","author":"Owusu Junior P.","year":"2020"},{"key":"e_1_2_9_3_2","doi-asserted-by":"publisher","DOI":"10.1080\/23322039.2020.1804037"},{"key":"e_1_2_9_4_2","doi-asserted-by":"publisher","DOI":"10.1080\/1331677X.2021.1910532"},{"key":"e_1_2_9_5_2","doi-asserted-by":"publisher","DOI":"10.1155\/2021\/4753753"},{"key":"e_1_2_9_6_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.ribaf.2020.101230"},{"key":"e_1_2_9_7_2","doi-asserted-by":"publisher","DOI":"10.1111\/1467-8268.12525"},{"key":"e_1_2_9_8_2","doi-asserted-by":"publisher","DOI":"10.1155\/2021\/8258778"},{"key":"e_1_2_9_9_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.pacfin.2020.101385"},{"key":"e_1_2_9_10_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.gfj.2021.100643"},{"key":"e_1_2_9_11_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.najef.2019.101040"},{"key":"e_1_2_9_12_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.intfin.2018.02.013"},{"key":"e_1_2_9_13_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.bir.2020.10.001"},{"key":"e_1_2_9_14_2","doi-asserted-by":"publisher","DOI":"10.1108\/IES-09-2020-0037"},{"key":"e_1_2_9_15_2","unstructured":"GlobalS&P Islamic finance 2020-2021: COVID-19 offers an opportunity for transformative developments 2020 https:\/\/www.spglobal.com\/ratings\/en\/research\/articles\/200615-islamic-finance-2020-2021-covid-19-offers-an-opportunity-for-transformative-developments-11533355."},{"key":"e_1_2_9_16_2","doi-asserted-by":"publisher","DOI":"10.20944\/preprints202007.0083.v1"},{"key":"e_1_2_9_17_2","article-title":"COVID-19 effects on the US stock index returns: an event study approach","author":"Chowdhury E. 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