Table 1 Correlation between Cyclical Components of GREA and Lags of the Cyclical Components of Various Measures of Global Liquidity
GLCEN | GLDIV | GLGDPW | GLSUM | GLPCA | |
|---|---|---|---|---|---|
L0 | −0.8471 | 0.0926 | −0.2556 | 0.0016 | 0.0649 |
L1. | −0.8228 | 0.0574 | −0.3262 | −0.0184 | 0.0488 |
L2. | −0.7872 | 0.012 | −0.3857 | −0.0455 | 0.0232 |
L3. | −0.7423 | −0.0452 | − 0.4354 | −0.0801 | − 0.0123 |
L4. | −0.6986 | − 0.1209 | −0.4765 | − 0.131 | −0.0654 |
L5. | −0.6582 | −0.2058 | − 0.5124 | −0.193 | − 0.1298 |
L6. | −0.6137 | − 0.2912 | −0.5412 | − 0.2587 | −0.1992 |
L7. | −0.5599 | −0.3711 | − 0.5638 | −0.3224 | − 0.2666 |
L8. | −0.5002 | − 0.4435 | −0.5787 | − 0.38 | −0.3297 |
L9. | −0.4363 | −0.5081 | − 0.587 | −0.4317 | − 0.3882 |
L10. | −0.3697 | − 0.5672 | −0.589 | − 0.4785 | −0.4421 |
L11. | −0.2986 | −0.6141 | − 0.5758 | −0.5127 | − 0.4864 |
L12. | −0.2238 | − 0.6502 | −0.5587 | − 0.5373 | −0.5217 |
L13. | −0.1427 | −0.6782 | − 0.5348 | −0.5528 | − 0.5498 |
L14. | −0.0594 | − 0.6964 | −0.5057 | − 0.5593 | −0.5696 |
L15. | 0.0222 | −0.7055 | −0.4702 | − 0.5555 | −0.5794 |
L16. | 0.098 | −0.7101 | −0.4281 | − 0.5483 | −0.5854 |
L17. | 0.1672 | −0.7092 | −0.3797 | − 0.5352 | −0.5865 |
L18. | 0.2299 | −0.7007 | −0.3245 | − 0.5134 | −0.5791 |
L19. | 0.2884 | −0.6865 | −0.2671 | − 0.4846 | −0.5644 |
L20. | 0.3382 | −0.6678 | −0.2071 | − 0.4555 | −0.5485 |
L21. | 0.3782 | −0.6486 | −0.1488 | − 0.4252 | −0.5311 |
L22. | 0.412 | −0.626 | −0.0891 | − 0.39 | −0.5086 |
L23. | 0.4362 | −0.5958 | −0.0298 | − 0.3489 | −0.4792 |
L24. | 0.4529 | −0.5604 | 0.0254 | −0.3045 | −0.4447 |
L25. | 0.4629 | −0.5198 | 0.0751 | −0.2595 | −0.4072 |
L26. | 0.4684 | −0.4732 | 0.1193 | −0.2118 | −0.3646 |
L27. | 0.4691 | −0.4181 | 0.1592 | −0.1587 | −0.3142 |
L28. | 0.4678 | −0.3519 | 0.1897 | −0.0977 | −0.2533 |
L29. | 0.4674 | −0.2826 | 0.2189 | −0.0317 | −0.1871 |
L30. | 0.464 | −0.2161 | 0.2477 | 0.0321 | −0.1216 |
L31. | 0.4571 | −0.1512 | 0.2717 | 0.0946 | −0.057 |
L32. | 0.446 | −0.0886 | 0.2915 | 0.1528 | 0.0056 |
L33. | 0.4353 | −0.0237 | 0.309 | 0.2138 | 0.071 |
L34. | 0.4234 | 0.0419 | 0.3221 | 0.276 | 0.1377 |
L35. | 0.4082 | 0.1012 | 0.3285 | 0.3287 | 0.1969 |
L36. | 0.3901 | 0.1551 | 0.3369 | 0.379 | 0.253 |
L37. | 0.3689 | 0.2003 | 0.3454 | 0.4252 | 0.3035 |
L38. | 0.3394 | 0.2292 | 0.3533 | 0.4546 | 0.3383 |
L39. | 0.3076 | 0.2471 | 0.3616 | 0.4668 | 0.357 |
L40. | 0.2753 | 0.256 | 0.3678 | 0.4678 | 0.3649 |
L41. | 0.2409 | 0.2542 | 0.3731 | 0.4504 | 0.3569 |
L42. | 0.2081 | 0.2439 | 0.3771 | 0.4231 | 0.3388 |
L43. | 0.1755 | 0.2292 | 0.3796 | 0.3884 | 0.3134 |
L44. | 0.1403 | 0.2049 | 0.3787 | 0.3473 | 0.2808 |
L45. | 0.1051 | 0.1752 | 0.3759 | 0.301 | 0.2433 |
L46. | 0.0721 | 0.1454 | 0.3708 | 0.2536 | 0.2046 |
L47. | 0.0433 | 0.1128 | 0.362 | 0.2059 | 0.1643 |
L48. | 0.0162 | 0.0729 | 0.3526 | 0.1531 | 0.1178 |