Table 11

Diversification benefits of Hong Kong hotels: 2010–2024

[1][2][3][4][5][6]
Hotel RE [1]1.00     
Office RE [2]0.61*1.00    
Retail RE [3]0.79*0.62*1.00   
Stocks [4]0.010.180.471.00  
Listed RE [5]0.210.100.54*0.85*1.00 
Bonds [6]−0.010.06−0.21−0.30−0.311.00

Note(s): *: significant at p < 0.05

Source(s): Authors' analysis and compilation

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