ETF Short Shares: The Next Stage in the Evolution of REIT Ownership

This study introduces a new publicly traded real estate security known as an Exchange Traded Fund (ETF) Real Estate Investment Trust (REIT) short share. In addition to examining the return, correlation, autocorrelation, partial-order autocorrelation, stationarity, and Granger Causality characteristi...

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Veröffentlicht in:	The journal of real estate portfolio management 2009-01, Vol.15 (1), p.21-32
Hauptverfasser:	Seiler, Michael J., Seiler, Vicky L.
Format:	Artikel
Sprache:	eng
Schlagworte:	Asset allocation Autocorrelation Borrowing Causality Consumer goods Consumer goods industries Corporate bonds Correlations Estate shares Exchange traded funds Financial portfolios Fund management Government bonds Granger causality Interest rates Investment policy Investment trusts Investments Investors Mutual funds Portfolio diversification Portfolio management Real estate Real estate investment trusts Real estate market REITs Securities markets Semiconductors Short sales Stock brokers Stock exchanges Studies Time series
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Beschreibung
Zusammenfassung:	This study introduces a new publicly traded real estate security known as an Exchange Traded Fund (ETF) Real Estate Investment Trust (REIT) short share. In addition to examining the return, correlation, autocorrelation, partial-order autocorrelation, stationarity, and Granger Causality characteristics of this new investment vehicle, we demonstrate that REITs warrant inclusion in mixed asset portfolios to varying degrees regardless of which direction the investor feels the REIT market is headed.
ISSN:	1083-5547 2691-1205
DOI:	10.1080/10835547.2009.12089832