Hello,
I am wondering if there is any way to test the significance of the correlation coefficients provided in the eviews cross-correlogram (I understand the asterisks are a proxy for this).
It seems this is not possible in eviews 7 which I am using. If that's the case can I use the following test instead? http://vassarstats.net/textbook/ch4apx.html.
A second - more general question. Is there any rule on what is a strong or weak correlation? The above test will only tell me whether the coefficient is relevant on a certain significance level
but I also need to assess the level of correlation.
Thanks for your help.
I am wondering if there is any way to test the significance of the correlation coefficients provided in the eviews cross-correlogram (I understand the asterisks are a proxy for this).
It seems this is not possible in eviews 7 which I am using. If that's the case can I use the following test instead? http://vassarstats.net/textbook/ch4apx.html.
A second - more general question. Is there any rule on what is a strong or weak correlation? The above test will only tell me whether the coefficient is relevant on a certain significance level
but I also need to assess the level of correlation.
Thanks for your help.