Table of Contents:

Chapter 1

: Introduction
1.1 Background of the Study
1.2 Research Objectives
1.3 Scope and Significance of the Study
1.4 Structure of the Thesis

Chapter 2

: Literature Review
2.1 Conceptual Framework of Real Estate Investment Trusts (REITs)
2.2 Portfolio Diversification Theory
2.3 Empirical Studies on REITs and Portfolio Diversification
2.4 Theoretical Perspectives on the Relationship between REITs and Portfolio Diversification

Chapter 3

: Methodology
3.1 Research Design
3.2 Data Collection Methods
3.3 Data Analysis Techniques
3.4 Limitations of the Study

Chapter 4

: Analysis of Historical Performance
4.1 Historical Performance of REITs
4.2 Comparison with Traditional Asset Classes
4.3 Risk-Return Characteristics of REIT Investments

Chapter 5

: Correlation Analysis and Portfolio Diversification
5.1 Correlation Analysis of REITs with Other Asset Classes
5.2 Portfolio Simulation and Diversification Benefits
5.3 Sensitivity Analysis and Robustness Checks

Chapter 6: Findings and Discussion
6.1 Summary of Key Findings
6.2 Implications for Investors and Portfolio Managers
6.3 Future Research Directions

Chapter 7: Conclusion
7.1 Recap of Research Objectives and Findings
7.2 Contributions to the Literature
7.3 Practical Implications and Recommendations

References

Appendices