The financial crisis and the rescue measures taken by governments and central banks increased investors' interest in liquidity and in real assets supposed to offer a hedge against inflation. Against this background, we investigate empirically four real assets (real estate, commodities,...

There has been a great deal of interest in whether value-added and opportunistic real estate investing has resulted in appropriate risk-adjusted returns. In this paper, data from the National Council of Real Estate Investment Fiduciaries (NCREIF) property database are examined to bring new...

We find the correlation movements among eight developed securitized real estate markets and among their stock markets are quite synchronized over the periods from 1995 through 2012. There is a high degree of correlation dependence with many of the realized correlation series subject to regime...