Table 13 Diversification benefits of... | Emerald Publishing

Table 13

Diversification benefits of Australian retail property versus other major assets: supplementary pre-pandemic: Q1 2015-Q4 2019

	[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]	0.91*	0.85*	1.00
New South Wales [4]	0.89*	0.90*	0.78*	1.00
Victoria [5]	0.82*	0.81*	0.74*	0.69*	1.00
Queensland [6]	0.92*	0.90*	0.89*	0.78*	0.63*	1.00
Prime [7]	0.93*	0.91*	0.89*	0.76*	0.76*	0.86*	1.00
Secondary [8]	0.85*	0.86*	0.69*	0.86*	0.69*	0.77*	0.59*	1.00
Office property [9]	0.23	0.27	0.03	0.27	0.39	0.04	0.00	0.50*	1.00
Industrial property [10]	0.00	0.06	−0.22	0.13	0.16	−0.16	−0.19	0.29	0.63*	1.00
Listed property [11]	−0.05	−0.06	−0.01	−0.09	−0.16	0.08	−0.04	−0.07	−0.05	−0.41	1.00
Stocks [12]	−0.02	−0.04	0.04	0.05	−0.05	0.04	−0.03	−0.01	0.00	−0.38	0.73*	1.00
Bonds [13]	0.72*	0.70*	0.68*	0.61*	0.61*	0.62*	0.76*	0.46*	0.16	0.05	−0.19	−0.25	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]	0.91*	0.85*	1.00
New South Wales [4]	0.89*	0.90*	0.78*	1.00
Victoria [5]	0.82*	0.81*	0.74*	0.69*	1.00
Queensland [6]	0.92*	0.90*	0.89*	0.78*	0.63*	1.00
Prime [7]	0.93*	0.91*	0.89*	0.76*	0.76*	0.86*	1.00
Secondary [8]	0.85*	0.86*	0.69*	0.86*	0.69*	0.77*	0.59*	1.00
Office property [9]	0.23	0.27	0.03	0.27	0.39	0.04	0.00	0.50*	1.00
Industrial property [10]	0.00	0.06	−0.22	0.13	0.16	−0.16	−0.19	0.29	0.63*	1.00
Listed property [11]	−0.05	−0.06	−0.01	−0.09	−0.16	0.08	−0.04	−0.07	−0.05	−0.41	1.00
Stocks [12]	−0.02	−0.04	0.04	0.05	−0.05	0.04	−0.03	−0.01	0.00	−0.38	0.73*	1.00
Bonds [13]	0.72*	0.70*	0.68*	0.61*	0.61*	0.62*	0.76*	0.46*	0.16	0.05	−0.19	−0.25	1.00

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

Source(s): Authors’ compilation/analysis