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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%