Table 8

Inter-asset correlation matrix: China direct real estate: 2008–2023

[1][2][3][4]
Direct RE [1]1.00   
Stocks [2]−0.421.00  
Listed RE [3]−0.230.87*1.00 
Bonds [4]0.42−0.71*−0.58*1.00

Note(s): *: significant at p < 0.05

Source(s): Authors' analysis
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