Effect of Ap-Index of Geomagnetic Activity on S&P 500 Stock Market Return

Table 4

Augmented Dickey-Fuller (ADF) Test Results.

	Variable	Dickey-Fuller	Lag	p-value	Conclusion
Unit root test for primary level	SMI	-0.66	6	0.9731	Not Stationary
	DGD	-2.75	6	0.2618	Not Stationary
Cointegration test		-5.55	6	<0.01	Stationary
Unit root test for differenced	SMI	-7.84	6	<0.01	Stationary
	DGD	-5.57	6	<0.01	Stationary