Research Article
Risk Analysis of Gold Prices in Pakistan Using Extreme Value Theory
Table 3
The basic fundamental assumptions of block maxima of negative return series.
| - | Randomness | Independence | Homogeneity | Stationary |
| Tests | (NERC 1975) | (Wald e Wolfowitz) | (Mann–Whitney test) | (Spearman test) |
| Values | value | Statistic | value | Statistic | value | Statistic | value | Statistic | Month | 0.4633 | 0.7334 | 0.0501 | 1.6441 | 0.0512 | −2.7293 | 0.0498 | −2.2678 | Quarter | 0.0682 | 1.4891 | 0.3869 | 0.2875 | 0.3167 | −0.4770 | 0.3344 | −0.4277 | Year | 0.2903 | 0.5526 | 0.1593 | 0.9972 | 0.3008 | −0.5222 | 0.3786 | −0.3091 |
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