Research Article
Drivers of Stock Prices in Ghana: An Empirical Mode Decomposition Approach
Table 1
Measures of IMFs and residue of GSEFSII.
| | Mean period | Pearson correlation | Kendall correlation | Variance | Variance as % of observed | Variance as % of IMFs + residue |
| Observed series | 2.3124 | | | 0.1404 | | | IMF1 | 1.63 | 0.0288 | 0.0116 | 0.0003 | 0.20 | 0.20 | IMF2 | 3.67 | 0.0211 | 0.0252 | 0.0001 | 0.07 | 0.07 | IMF3 | 9.06 | 0.0133 | 0.0039 | 0.0001 | 0.07 | 0.07 | IMF4 | 23.35 | 0.0937 | 0.0711 | 0.0004 | 0.28 | 0.28 | IMF5 | 60.70 | 0.0471 | 0.0295 | 0.0011 | 0.77 | 0.77 | IMF6 | 121.4 | 0.1824 | 0.1636 | 0.0052 | 3.70 | 3.71 | Residue | 607 | 0.9764 | 0.7769 | 0.1330 | 94.73 | 94.90 |
| Sum | 99.82 | 100 |
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Note. and : correlation is significant at the level of 0.05 and 0.01 (2-tailed) respectively. |