PT  - JOURNAL ARTICLE
AU  - Kenneth Small
AU  - Jeff Smith
AU  - Erika Small
TI  - The Return Characteristics of Diamonds
AID  - 10.3905/joi.2013.22.1.132
DP  - 2013 Feb 28
TA  - The Journal of Investing
PG  - 132--143
VI  - 22
IP  - 1
4099  - https://pm-research.com/content/22/1/132.short
4100  - https://pm-research.com/content/22/1/132.full
AB  - We outline the ethical considerations surrounding the trading of diamonds, the metrics used to value diamonds, the history of diamond trading, and the current market structure. We provide an analysis of the underlying risk and return characteristics of several individual diamond types. We show that diamonds exhibit low CAPM and Fama-French betas, and low correlations with gold, the S&P 500, long-term U.S. bond prices, and U.S. inflation.TOPICS: Commodities, other real assets