Table 12 Diversification benefits of... | Emerald Publishing

Table 12

Diversification benefits of Australian retail property versus other major assets: pandemic: Q1 2020-Q1 2021

	[1]	[2]	[3]	[4]	[5]	[6]	[7]	[8]	[9]	[10]	[11]	[12]	[13]
Retail property [1]	1.00
Metropolitan [2]	1.00*	1.00
Country [3]	0.98*	0.97*	1.00
New South Wales [4]	0.99*	0.98*	1.00*	1.00
Victoria [5]	0.95*	0.97*	0.88*	0.91*	1.00
Queensland [6]	0.99*	0.98*	1.00*	1.00*	0.90*	1.00
Prime [7]	0.99*	0.98*	1.00*	1.00*	0.89*	1.00*	1.00
Secondary [8]	0.79	0.82	0.66	0.71	0.94*	0.69	0.68	1.00
Office property [9]	0.98*	0.98*	0.95*	0.96*	0.96*	0.96*	0.95*	0.83	1.00
Industrial property [10]	0.30	0.30	0.28	0.27	0.31	0.28	0.26	0.36	0.48	1.00
Listed property [11]	0.09	0.12	−0.06	−0.02	0.31	−0.04	−0.06	0.59	0.21	0.54	1.00
Stocks [12]	0.03	0.07	−0.13	−0.08	0.26	−0.10	−0.12	0.55	0.19	0.63	0.96*	1.00
Bonds [13]	0.27	0.30	0.16	0.21	0.45	0.18	0.18	0.53	0.30	−0.05	0.09	0.26	1.00

	[1]	[2]	[3]	[4]	[5]	[6]	[7]	[8]	[9]	[10]	[11]	[12]	[13]
Retail property [1]	1.00
Metropolitan [2]	1.00*	1.00
Country [3]	0.98*	0.97*	1.00
New South Wales [4]	0.99*	0.98*	1.00*	1.00
Victoria [5]	0.95*	0.97*	0.88*	0.91*	1.00
Queensland [6]	0.99*	0.98*	1.00*	1.00*	0.90*	1.00
Prime [7]	0.99*	0.98*	1.00*	1.00*	0.89*	1.00*	1.00
Secondary [8]	0.79	0.82	0.66	0.71	0.94*	0.69	0.68	1.00
Office property [9]	0.98*	0.98*	0.95*	0.96*	0.96*	0.96*	0.95*	0.83	1.00
Industrial property [10]	0.30	0.30	0.28	0.27	0.31	0.28	0.26	0.36	0.48	1.00
Listed property [11]	0.09	0.12	−0.06	−0.02	0.31	−0.04	−0.06	0.59	0.21	0.54	1.00
Stocks [12]	0.03	0.07	−0.13	−0.08	0.26	−0.10	−0.12	0.55	0.19	0.63	0.96*	1.00
Bonds [13]	0.27	0.30	0.16	0.21	0.45	0.18	0.18	0.53	0.30	−0.05	0.09	0.26	1.00

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

Source(s): Authors’ compilation/analysis