Drivers of Stock Prices in Ghana: An Empirical Mode Decomposition Approach

Table 2

Correlation and variance of components for GSEFII.

	Mean period	Pearson correlation	Kendall correlation	Variance	Variance as % of observed	Variance as % of IMFs + residue
Observed series	2.3124			0.1401
High Frequency	4.7201	0.0421	0.0276	0.0004	0.2849	0.2886
Low Frequency	121.4	0.1824	0.1636	0.0052	3.7037	3.7518
Residue	607	0.9764	0.7769	0.1330	94.73	95.9596
Sum					98.7186	100

Correlation is significant at the level of 0.05 (2-tailed).