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Table 9 Correlations between CDX and returns of government bonds

From: Interdependence between the stock market and the bond market in one country: evidence from the subprime crisis and the European debt crisis

Regions Mean Median Standard Error Negative Value Mean Median Standard Error Negative Value
Developed America 0.02 0.02 0.29 50% 0.01 0.01 0.16 50%
Developed Europe 0.06 0.27 0.42 38% 0.03 0.12 0.36 44%
Developed Asia 0.20 0.08 0.22 0% 0.18 0.13 0.23 0%
Emerging America −0.23 −0.17 0.15 100% −0.30 −0.21 0.17 100%
Emerging Europe −0.21 −0.26 0.23 75% −0.19 −0.27 0.37 75%
Emerging Asia −0.05 −0.02 0.12 67% 0.01 0.06 0.23 33%
Developed Market 0.09 0.22 0.37 30% 0.06 0.13 0.32 35%
Emerging Markets −0.13 −0.17 0.28 75% −0.14 −0.23 0.35 67%
All −0.02 0.04 0.37 49% −0.03 0.01 0.35 49%