Table 4 Bivariate correlation

Time

 Pearson correlation

1

.991**

.319

.085

.905**

.620*

− .088

 Sig. (2-tailed)

.000

.339

.805

.000

.042

.798

Population

 Pearson correlation

.991**

1

.288

.105

.888**

.598

− .105

 Sig. (2-tailed)

.000

.390

.759

.000

.052

.759

Return

 Pearson correlation

.319

.288

1

− .498

.213

.551

.275

 Sig. (2-tailed)

.339

.390

.119

.529

.079

.413

Assets

 Pearson correlation

.085

.105

− .498

1

.322

− .635^*

.191

 Sig. (2-tailed)

.805

.759

.119

.333

.036

.573

Growth

 Pearson correlation

.905**

.888**

.213

.322

1

.473

.138

 Sig. (2-tailed)

.000

.000

.529

.333

.142

.686

Equity

 Pearson correlation

.620*

.598

.551

− .635*

.473

1

− .159

 Sig. (2-tailed)

.042

.052

.079

.036

.142

.641

GDP

 Pearson correlation

− .088

− .105

.275

.191

.138

− .159

1

 Sig. (2-tailed)

.798

.759

.413

.573

.686

.641