1 2 3 6 14 3 1 2 6 15 3 1 2 6 X 2 p value A B C D E F G H I J K L M N O 1 2 3 4

# 1 2 3 6 14 3 1 2 6 15 3 1 2 6 x 2 p value a b c d e f

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1 2 3 6 14 3 1 2 6 15 3 1 2 6 X 2 p -value A B C D E F G H I J K L M N O 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34
Spearman Rank Correlation Coefficient MMI & S&P 100 MMI S&P100 X Y 1 220 151 7 6 n 10 2 218 150 5 5 0.9758 Look up the tables for p-value. 3 216 148 3 3 4 217 149 4 4 5 215 147 2 2 6 213 146 1 1 7 219 152 6 7 Test Statistic 8 236 165 9 10 z 9 237 162 10 9 10 235 161 8 8 Null Hypothesis 5% Rank X Rank Y r s For large samples ( n > 30) At an a of p -value H 0 : r s = 0 H 0 : r s >= 0 H 0 : r s <=0 A B C D E F G H I J K L 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34

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