Table 2 Correlations between the key variables
ΔVXTYN | \(R^{Oil}\) | ΔIP | ΔGOLD | ΔOVX | ΔS&P | |
|---|---|---|---|---|---|---|
\(R^{Oil}\) | − 0.237*** (− 3.041) | 1.000 | ||||
ΔIP | − 0.112 (− 1.409) | 0.210*** (2.678) | 1.000 | |||
ΔGOLD | − 0.077 (− 0.966) | 0.153** (1.928) | − 0.100 (− 1.257) | 1.000 | ||
ΔOVX | 0.136* (1.704) | − 0.334*** (− 4.404) | − 0.125 (− 1.567) | 0.104 (1.302) | 1.000 | |
ΔS&P | − 0.148* (− 1.859) | 0.500*** (7.194) | − 0.059 (− 0.734) | 0.052 (0.654) | 0.024 (0.297) | 1.000 |
ΔSPREAD | 0.085 (1.057) | 0.056 (0.703) | − 0.100 (− 1.246) | − 0.208*** (− 2.642) | − 0.001 (− 0.014) | 0.055 (0.685) |