Read e-book online Analysis of Financial Data PDF

By Gary Koop

research of economic facts teaches the elemental equipment and strategies of knowledge research to finance scholars, via displaying them the right way to practice such recommendations within the context of real-world empirical difficulties.

Adopting a mostly non-mathematical process research of economic information is based extra on verbal instinct and graphical equipment for figuring out.

Key beneficial properties comprise:

  • Coverage of some of the significant instruments utilized by the monetary economist e.g. correlation, regression, time sequence research and strategies for interpreting monetary volatility.
  • Extensive use of actual info examples, which contains readers in hands-on desktop paintings.
  • Mathematical thoughts at a degree fitted to MBA scholars and undergraduates taking a primary path within the subject.

Supplementary fabric for readers and academics supplied on an accompanying web site.

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Extra resources for Analysis of Financial Data

Example text

39 Correlation Understanding why variables are correlated In our executive compensation/profits example, we discovered that executive compensation and profits are indeed correlated positively, indicating a positive relationship between the two. But what exact form does this relationship take? As discussed above, we often like to think in terms of causality or influence, and it may indeed be the case that correlation and causality are closely related. For instance, the finding that profits and compensation are correlated could mean that the former directly causes the latter.

One thing you could do is simply average the prices of all stock prices together in each year (and then construct a price index in the same manner as for the Megaco stock price index). However, this strategy is usually inappropriate since it implicitly weights all companies equally to one another. Let us suppose, as their names indicate, that Megaco and Monstroco are huge companies with a large amount of stock outstanding, traded on many stock exchanges. In contrast, we suppose Minico to be a tiny company with only a small amount of stock outstanding, traded only rarely on a local stock exchange.

We will use this data set extensively in future chapters, but for now let us focus on just a few variables. In particular, let us assume that Y = the sales price of the house and X = the size of its lot in square feet, lot size being the area occupied by the house itself plus its garden or yard. 54. The following statements can be made about house prices in Windsor: 1. Houses with large lots tend to be worth more than those with small lots. 2. There is a positive relationship between lot size and sales price.

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