Chang, Meng-Shiuh; Salin, Victoria; Jin, Yanhong - In: Journal of Property Research 28 (2011) 3, pp. 189-212
Value at Risk estimated with joint distribution methodologies demonstrates that risk is lower for portfolios of real estate investment trusts (REITs) and small-business equities compared with a single-asset holding. Benefits from diversification were largest in 2001--2003 and the smallest from...