| Standard
Deviation (%), Annualized |
| |
|
Three Years |
|
Five Years |
|
Ten Years |
|
|
| |
|
2004-2006 |
|
2002-2006 |
|
1997-2006 |
|
|
| TIAA
Real Estate Account |
|
1.8 |
|
1.9 |
|
1.7 |
|
|
| Stocks |
|
7.5 |
|
13.1 |
|
16.7 |
|
S&P 500 Index |
| Bonds |
|
3.3 |
|
4.0 |
|
3.8 |
|
LB Aggregate Bond
Index |
| Cash |
|
0.4 |
|
0.4 |
|
0.5 |
|
U.S. 30 Day Tbill |
| REITS |
|
19.7 |
|
17.2 |
|
15.7 |
|
NAREIT-All |
Calculations based on monthly
total returns.
Index data source: Ibbotson Associates.
This may be what I had in mind; compare the 3 vaues across the 3 period for the REA with that of Cash; note the SD of the REA is closer to Cash then even to Bonds yet alone Stocks and horrids, REITS
Ray
