The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 1 Descriptive statistics and the correlation matrix of commodity returns and exchange rate
From: Comovement between commodity returns in Ghana: the role of exchange rates
| Â | EXR | Brent crude oil | Cocoa | Gold |
|---|---|---|---|---|
Descriptive summary | ||||
 Mean | 0.0117 | −0.0006 | 0.0049 | 0.0016 |
 Std. Dev | 0.5279 | 0.1030 | 0.0376 | 0.0582 |
 Skewness | 0.1312 | −0.9192 | 0.1292 | −0.0559 |
 Kurtosis | 73.3183 | 4.8055 | 0.1762 | 1.0214 |
 Normtest W | 0.1469*** | 0.9003 *** | 0.9948 | 0.9839* |
 ADF (1) | −8.2290*** | −5.3930*** | −4.7733*** | −4.7928*** |
 KPSS (1) | 0.0190 | 0.0485 | 0.3525 | 0.1297 |
Correlation matrix | ||||
 EXR | 1.0000 |  |  |  |
 Brent crude oil | −0.1460 | 1.0000 |  |  |
 Cocoa | −0.0863 | 0.0954 | 1.0000 |  |
 Gold | −0.1223 | 0.2752** | 0.2179* | 1.0000 |