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Financial Innovation

Table 5 Correlations between explanatory variables

From: Can news-based economic sentiment predict bubbles in precious metal markets?

 

NESI

MCSI

SIBW

Inflation

USDI

EFR

T-Spread

GEA

NESI

1.0000

       

MCSI

0.6424***

1.0000

      

(0.0000)

       

SIBW

0.5276***

0.3062***

1.0000

     

(0.0009)

(0.0000)

      

inflation

0.0497

0.0511

0.0385

1.0000

    

(0.9958)

(0.9945)

(0.9998)

     

USDI

0.2407***

0.5425***

0.5176***

0.0179

1.0000

   

(0.0000)

(0.0000)

(0.0000)

(0.7008)

    

EFR

0.2252***

0.3961***

0.3991***

0.2757***

0.5104***

   

(0.0000)

(0.0000)

(0.0000)

(0.0000)

(0.0000)

1.0000

  

T-Spread

− 0.3415***

− 0.6049***

− 0.2738***

− 0.1188***

− 0.3435***

− 0.6767***

1.0000

 

(0.0000)

(0.0000)

(0.0000)

(0.0165)

(0.0000)

(0.0000)

  

GEA

0.2147*

0.2188***

0.1613***

0.1681***

− 0.4092***

0.1094**

− 0.2516**

1.0000

(0.0676)

(0.0000)

(0.0011)

(0.0007)

(0.0000)

(0.0274)

(0.0298)

 
  1. p values are given in brackets. p values are given in brackets. *, **, and *** indicate significance at 10%, 5%, and 1% levels, respectively
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