Table 1 Descriptive statistics for... | Emerald Publishing

Table 1

Descriptive statistics for quintile portfolio returns

	USD premium ⇔ EUR premium
	P1 (+)	P2 (+)	P3 (−)	P4 (−)	P5 (−)
Mean	0.03%	0.01%	0.02%	0.04%	0.05%
Standard error	0.01%	0.01%	0.01%	0.01%	0.01%
Median	0.03%	0.02%	0.01%	0.02%	0.03%
Standard deviation	0.10%	0.09%	0.08%	0.09%	0.08%
Sample variance	0.00%	0.00%	0.00%	0.00%	0.00%
Skewness	0.05	0.36	0.49	1.69	2.19
Excess kurtosis	1.15	1.65	−0.09	4.07	6.97
Range	0.59%	0.49%	0.36%	0.48%	0.46%
Minimum	−0.27%	−0.18%	−0.13%	−0.10%	−0.05%
Maximum	0.31%	0.31%	0.23%	0.38%	0.41%
Sum	1.78%	0.77%	1.48%	2.62%	3.48%
Observations	67	67	67	67	67
Jarque–Bera	3.72	9.06	2.74	78.21	188.93
p-value	0.156	0.011^*	0.255	0.000^**	0.000^**

	USD premium ⇔ EUR premium
	P1 (+)	P2 (+)	P3 (−)	P4 (−)	P5 (−)
Mean	0.03%	0.01%	0.02%	0.04%	0.05%
Standard error	0.01%	0.01%	0.01%	0.01%	0.01%
Median	0.03%	0.02%	0.01%	0.02%	0.03%
Standard deviation	0.10%	0.09%	0.08%	0.09%	0.08%
Sample variance	0.00%	0.00%	0.00%	0.00%	0.00%
Skewness	0.05	0.36	0.49	1.69	2.19
Excess kurtosis	1.15	1.65	−0.09	4.07	6.97
Range	0.59%	0.49%	0.36%	0.48%	0.46%
Minimum	−0.27%	−0.18%	−0.13%	−0.10%	−0.05%
Maximum	0.31%	0.31%	0.23%	0.38%	0.41%
Sum	1.78%	0.77%	1.48%	2.62%	3.48%
Observations	67	67	67	67	67
Jarque–Bera	3.72	9.06	2.74	78.21	188.93
p-value	0.156	0.011^*	0.255	0.000^**	0.000^**

Note(s): *0.01 < p < 0.05; **p < 0.01