Table 15 Diversification benefits of... | Emerald Publishing

Table 15

Diversification benefits of Australian retail property versus other major assets: post-pandemic: Q2 2021-Q4 2024

	[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]	0.96*	0.94*	1.00
New South Wales [4]	0.97*	0.97*	0.92*	1.00
Victoria [5]	0.93*	0.93*	0.86*	0.86*	1.00
Queensland [6]	0.97*	0.96*	0.96*	0.94*	0.84*	1.00
Prime [7]	0.98*	0.98*	0.93*	0.95*	0.92*	0.93*	1.00
Secondary [8]	0.88*	0.86*	0.88*	0.85*	0.81*	0.89*	0.76*	1.00
Office property [9]	0.82*	0.82*	0.80*	0.76*	0.69*	0.80*	0.84*	0.62*	1.00
Industrial property [10]	0.34	0.33	0.36	0.42	0.15	0.35	0.29	0.38	0.51	1.00
Listed property [11]	0.00	−0.02	0.12	0.06	−0.24	0.07	0.03	−0.07	0.05	0.16	1.00
Stocks [12]	−0.07	−0.08	0.04	−0.03	−0.23	0.00	0.00	−0.21	0.00	−0.05	0.84*	1.00
Bonds [13]	−0.23	−0.20	−0.35	−0.18	−0.12	−0.24	−0.16	−0.35	−0.50	−0.61*	−0.19	−0.12	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]	0.96*	0.94*	1.00
New South Wales [4]	0.97*	0.97*	0.92*	1.00
Victoria [5]	0.93*	0.93*	0.86*	0.86*	1.00
Queensland [6]	0.97*	0.96*	0.96*	0.94*	0.84*	1.00
Prime [7]	0.98*	0.98*	0.93*	0.95*	0.92*	0.93*	1.00
Secondary [8]	0.88*	0.86*	0.88*	0.85*	0.81*	0.89*	0.76*	1.00
Office property [9]	0.82*	0.82*	0.80*	0.76*	0.69*	0.80*	0.84*	0.62*	1.00
Industrial property [10]	0.34	0.33	0.36	0.42	0.15	0.35	0.29	0.38	0.51	1.00
Listed property [11]	0.00	−0.02	0.12	0.06	−0.24	0.07	0.03	−0.07	0.05	0.16	1.00
Stocks [12]	−0.07	−0.08	0.04	−0.03	−0.23	0.00	0.00	−0.21	0.00	−0.05	0.84*	1.00
Bonds [13]	−0.23	−0.20	−0.35	−0.18	−0.12	−0.24	−0.16	−0.35	−0.50	−0.61*	−0.19	−0.12	1.00

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

Source(s): Authors’ compilation/analysis