Table 7 Diversification benefits of... | Emerald Publishing

Table 7

Diversification benefits of Australian retail property versus other major assets: full period: Q1-1990-Q4 2024

	[1]	[2]	[3]	[4]	[5]	[6]	[7]	[8]	[9]	[10]	[11]	[12]	[13]
Retail property [1]	1.00
Metropolitan [2]	0.99*	1.00
Country [3]	0.94*	0.89*	1.00
New South Wales [4]	0.95*	0.95*	0.89*	1.00
Victoria [5]	0.90*	0.91*	0.80*	0.83*	1.00
Queensland [6]	0.90*	0.87*	0.90*	0.80*	0.74*	1.00
Prime [7]	0.97*	0.96*	0.92*	0.92*	0.82*	0.89*	1.00
Secondary [8]	0.82*	0.83*	0.75*	0.78*	0.86*	0.69*	0.66*	1.00
Office property [9]	0.44*	0.45*	0.35*	0.43*	0.47*	0.34*	0.33*	0.58*	1.00
Industrial property [10]	0.29*	0.29*	0.24*	0.33*	0.29*	0.22*	0.17*	0.47*	0.68*	1.00
Listed property [11]	0.20*	0.20*	0.16	0.20*	0.21*	0.13	0.12	0.31*	0.15	0.26*	1.00
Stocks [12]	0.15	0.16	0.11	0.15	0.18*	0.10	0.08	0.26*	0.11	0.14	0.71*	1.00
Bonds [13]	0.21*	0.20*	0.25*	0.15	0.09	0.25*	0.29*	−0.01	−0.32*	−0.30*	−0.01	−0.02	1.00

	[1]	[2]	[3]	[4]	[5]	[6]	[7]	[8]	[9]	[10]	[11]	[12]	[13]
Retail property [1]	1.00
Metropolitan [2]	0.99*	1.00
Country [3]	0.94*	0.89*	1.00
New South Wales [4]	0.95*	0.95*	0.89*	1.00
Victoria [5]	0.90*	0.91*	0.80*	0.83*	1.00
Queensland [6]	0.90*	0.87*	0.90*	0.80*	0.74*	1.00
Prime [7]	0.97*	0.96*	0.92*	0.92*	0.82*	0.89*	1.00
Secondary [8]	0.82*	0.83*	0.75*	0.78*	0.86*	0.69*	0.66*	1.00
Office property [9]	0.44*	0.45*	0.35*	0.43*	0.47*	0.34*	0.33*	0.58*	1.00
Industrial property [10]	0.29*	0.29*	0.24*	0.33*	0.29*	0.22*	0.17*	0.47*	0.68*	1.00
Listed property [11]	0.20*	0.20*	0.16	0.20*	0.21*	0.13	0.12	0.31*	0.15	0.26*	1.00
Stocks [12]	0.15	0.16	0.11	0.15	0.18*	0.10	0.08	0.26*	0.11	0.14	0.71*	1.00
Bonds [13]	0.21*	0.20*	0.25*	0.15	0.09	0.25*	0.29*	−0.01	−0.32*	−0.30*	−0.01	−0.02	1.00

Note(s): *: significant at p < 0.05

Source(s): Authors’ compilation/analysis