On the application of the dynamic conditional correlation model in estimating optimal time-varying hedge ratios

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On the effects of world stock market and oil price shocks on food prices: An empirical investigation based on TVP-VAR models with stochastic volatility (2014, methodology): “In order to check the effectiveness of the portfolio diversification, we study the realized hedging errors determined by Ku et al. (2007).”
Hedging emerging market stock prices with oil, gold, VIX, and bonds: A comparison between DCC, ADCC and GO-GARCH ☆ (2015, unknown): “Chang et al., 2011, Ku et al, 2007).”
Asymmetric spillover and network connectedness between crude oil, gold, and Chinese sector stock markets (2021, methodology): “The hedging effectiveness (HE) of the constructed portfolios can be assessed by comparing the realized hedging errors (Ku et al., 2007) defined as:”
World gold prices and stock returns in China: Insights for hedging and diversification strategies (2015, background): “In the meantime, the effectiveness of hedging across constructed portfolios can be assessed by examining the realized hedging errors (HE) which are determined as follows (Ku et al., 2007) Var refers to the variance of the hedged portfolio's returns (PF II), and”