Table 7 Variance decomposition result per company
From: Brent prices and oil stock behaviors: evidence from Nigerian listed oil stocks
Period | Beco | Conoil | Eterna | Forte | Mobil | MRS | Oando | Total |
|---|---|---|---|---|---|---|---|---|
1 | 0.000000 (0.00000) | 0.000000 (0.00000) | 0.000000 (0.00000) | 0.000000 (0.00000) | 0.000000 (0.00000) | 0.000000 (0.00000) | 0.000000 (0.00000) | 0.000000 (0.00000) |
2 | 0.096307 (0.33845) | 0.119111 (0.18312) | 0.004400 (0.06464) | 0.007168 (0.06203) | 0.009262 (0.07499) | 0.004801 (0.05743) | 0.020618 (0.06328) | 0.074292 (0.12632) |
3 | 0.096382 (0.33940) | 0.123961 (0.20274) | 0.004616 (0.08057) | 0.024250 (0.08474) | 0.164341 (0.23457) | 0.267386 (0.27852) | 0.046165 (0.15460) | 0.074817 (0.14941) |
4 | 0.096382 (0.33941) | 0.188018 (0.24252) | 0.013356 (0.13024) | 0.033524 (0.10857) | 0.171099 (0.26258) | 0.283804 (0.32041) | 0.046455 (0.17317) | 0.075257 (0.15290) |
5 | 0.096382 (0.33941) | 0.188724 (0.24495) | 0.012944 (0.15011) | 0.104931 (0.20691) | 0.172177 (0.26767) | 0.351962 (0.35482) | 0.053402 (0.18272) | 0.075282 (0.15300) |
6 | 0.096382 (0.33941) | 0.233855 (0.25328) | 0.025982 (0.18955) | 0.123565 (0.26603) | 0.218189 (0.28232) | 0.349757 (0.35804) | 0.399444 (0.34944) | 0.075282 (0.15302) |
7 | 0.096382 (0.33941) | 0.263364 (0.27621) | 0.028560 (0.20071) | 0.157020 (0.30507) | 0.384363 (0.32798) | 0.521481 (0.41480) | 0.658410 (0.48326) | 0.075283 (0.15302) |
8 | 0.096382 (0.33941) | 0.337932 (0.32941) | 0.069673 (0.21849) | 0.157260 (0.32039) | 0.381687 (0.33464) | 0.601869 (0.47580) | 0.730104 (0.51648) | 0.075283 (0.15302) |
9 | 0.096382 (0.33941) | 0.443149 (0.35713) | 0.071736 (0.22976) | 0.393995 (0.40738) | 0.379238 (0.33618) | 0.844646 (0.55663) | 0.764302 (0.53368) | 0.075283 (0.15302) |
10 | 0.096382 (0.33941) | 0.452539 (0.36768) | 0.071897 (0.24155) | 0.449334 (0.44661) | 0.379357 (0.33761) | 0.885989 (0.58153) | 0.764401 (0.53189) | 0.075283 (0.15302) |
11 | 0.096382 (0.33941) | 0.457544 (0.37410) | 0.072933 (0.25610) | 0.466274 (0.46453) | 0.380651 (0.33955) | 0.948139 (0.61405) | 0.761322 (0.53018) | 0.075283 (0.15302) |
12 | 0.096382 (0.33941) | 0.459661 (0.37785) | 0.072336 (0.26707) | 0.471985 (0.47619) | 0.382678 (0.34109) | 0.968696 (0.63350) | 0.765642 (0.53272) | 0.075283 (0.15302) |
13 | 0.096382 (0.33941) | 0.461555 (0.38101) | 0.072494 (0.27890) | 0.486819 (0.49215) | 0.382972 (0.34140) | 1.009760 (0.65915) | 0.765673 (0.53356) | 0.075283 (0.15302) |
14 | 0.096382 (0.33941) | 0.464063 (0.38524) | 0.074395 (0.29198) | 0.494459 (0.50349) | 0.386392 (0.34265) | 1.025894 (0.67366) | 0.771974 (0.53724) | 0.075283 (0.15302) |
15 | 0.096382 (0.33941) | 0.468676 (0.39018) | 0.076791 (0.30372) | 0.509660 (0.52022) | 0.387520 (0.34400) | 1.059977 (0.69391) | 0.772310 (0.53782) | 0.075283 (0.15302) |
16 | 0.096382 (0.33941) | 0.472500 (0.39366) | 0.077846 (0.31315) | 0.515385 (0.53073) | 0.387740 (0.34423) | 1.078689 (0.70925) | 0.772566 (0.53843) | 0.075283 (0.15302) |
17 | 0.096382 (0.33941) | 0.474852 (0.39603) | 0.078421 (0.32169) | 0.524552 (0.54136) | 0.387810 (0.34443) | 1.104364 (0.72583) | 0.772567 (0.53864) | 0.075283 (0.15302) |
18 | 0.096382 (0.33941) | 0.475836 (0.39744) | 0.079049 (0.32987) | 0.529953 (0.54823) | 0.387909 (0.34466) | 1.116201 (0.73511) | 0.773023 (0.53881) | 0.075283 (0.15302) |
19 | 0.096382 (0.33941) | 0.476541 (0.39858) | 0.079608 (0.33737) | 0.534141 (0.55356) | 0.387903 (0.34470) | 1.129228 (0.74370) | 0.772968 (0.53880) | 0.075283 (0.15302) |
20 | 0.096382 (0.33941) | 0.477056 (0.39944) | 0.080209 (0.34441) | 0.536259 (0.55726) | 0.387976 (0.34479) | 1.136536 (0.74983) | 0.772950 (0.53876) | 0.075283 (0.15302) |