Table 7 Diversification benefits of... | Emerald Publishing

Table 7

Diversification benefits of Asia–Pacific hotels: 2007–2024

	[1]	[2]	[3]	[4]	[5]	[6]	[7]
Hotel RE [1]	1.00
Office RE [2]	0.72*	1.00
Retail RE [3]	0.84*	0.73*	1.00
Industrial RE [4]	0.49*	0.71*	0.64*	1.00
Stocks [5]	0.28	0.10	0.29	0.34	1.00
Listed RE [6]	0.51*	0.20	0.54*	0.47*	0.86*	1.00
Bonds [7]	−0.10	−0.06	0.09	0.26	−0.01	0.12	1.00

	[1]	[2]	[3]	[4]	[5]	[6]	[7]
Hotel RE [1]	1.00
Office RE [2]	0.72*	1.00
Retail RE [3]	0.84*	0.73*	1.00
Industrial RE [4]	0.49*	0.71*	0.64*	1.00
Stocks [5]	0.28	0.10	0.29	0.34	1.00
Listed RE [6]	0.51*	0.20	0.54*	0.47*	0.86*	1.00
Bonds [7]	−0.10	−0.06	0.09	0.26	−0.01	0.12	1.00

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

Source(s): Authors' analysis and compilation