Table 1 Descriptive statistics for (log) return, nine asset classes

0.000932

0.048649

− 0.885240

10.188540

− 9.1411***

0.000423

0.013915

− 0.995605

15.577220

− 9.2363***

0.000112

0.011538

− 1.292708

17.170820

− 8.8277***

− 0.000093

0.012117

− 0.469962

5.304945

− 9.5523***

0.000110

0.003822

0.190840

1.947285

− 10.3840***

0.000367

0.009787

− 0.258182

4.865910

− 10.5840***

0.000528

0.016347

1.348802

10.597990

− 9.7886***

0.000210

0.000537

0.521173

0.629370

− 10.9210***

− 0.000065

0.002693

− 0.692585

5.216177

− 9.9907***

− 0.001558

0.047334

− 0.317903

3.314795

− 6.5311***

0.000386

0.009665

− 0.621286

3.487669

− 7.1710***

0.000094

0.007677

− 0.706400

1.973553

− 6.8404***

− 0.000198

0.012164

− 0.354504

3.060114

− 6.2799***

0.000103

0.003464

0.277556

1.307824

− 7.7866***

0.000301

0.007086

0.331822

2.148386

− 7.2293***

− 0.000031

0.011923

− 0.103379

4.938443

− 7.2721***

0.000730

0.090801

1.834414

11.351360

− 8.1663***

0.000064

0.002006

− 0.073448

1.401370

− 6.5526***

0.003083

0.049700

− 1.322494

15.239945

− 6.5505***

0.000455

0.016750

− 0.964824

12.880542

− 6.4260***

0.000128

0.014053

− 1.236761

13.711700

− 6.2660***

− 0.000002

0.012088

− 0.570128

7.270436

− 7.5310***

0.000115

0.004110

0.141370

2.020966

− 7.3924***

0.000424

0.011633

− 0.360716

3.742168

− 7.8111***

0.001011

0.019372

− 1.536551

9.015542

− 7.0030***

0.001624

0.090390

1.242735

4.326018

− 7.1915***

0.000176

0.003167

0.714678

4.287886

− 8.0265***